Joys of Banking in Thailand.

[bazza73]

26 minutes ago, fletchsmile said:

It's all relative these days Interest rates generally are poor. Best deals in Thailand tend to be promotional rates, e-saver/internet only bank accounts, or non-standard fixed deposits, eg 10/14 month rather than the usual 1,3,6,12,2yr  tenors which are standard

 

 

 

I think the interest rates offered by banks just about anywhere now treat depositors with contempt. Take your money at 1-2% interest, then lend it out at 6-8% minimum. Which is why they have all those  skyscrapers in most capital cities.

Also why a lot of savers are turning to peer-to-peer lenders for decent returns. Riskier possibly, but that can be accommodated by diversification.

I have a modest amount invested with two peer-to-peer lenders in Australia. So far, average return on one is 5.3% pa, and the other is 9% pa.

I just wonder how many people realise the real gravy for banks is in the credit card business, where they are charging anywhere between 12% and 18% interest on outstanding balances. That's why I have only had debit cards for the last

30 years.

[Dazinoz]

Arguing with idiots is like playing chess with a pigeon.....No matter how good you are, the bird is going to shit on the board and strut around like it won anyway.

[Scott]

It would appear that this thread has passed it's use-by-date.  

 

//Closed//