scooter
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Post by scooter on Dec 3, 2015 15:48:55 GMT 7
I totally agree! It's something of a pain in the ass (to put it politely!)to hear that "You can't use this type of account, it's only for Thais" (or only if you're married to a Thai, in some cases). Thanks for the heads up on CIMB, I'll definitely give it wide berth (not that there's a branch out here, anyway). Krungthai appears to be another of the same ilk. They sometimes have some reasonable(?) promotions/accounts but I'm not allowed to make use of any of them. Neither do i get any interest on my one account at this place. "Farangs can't get paid interest - head office rule". Wankers, the lot of them. Still, I'm aware that occasionally what's forbidden at one branch can often be easily accepted at another branch - whatever the bank color. If anybody knows whether their Krungthai or CIMB branch actually does ALLOW foreigners to open Fixed Term Accounts AND get paid interest, then I'd certainly like to know, just to be reasonably sure of it being a branch- or bank- rule!
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cmk
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Post by cmk on Dec 3, 2015 16:07:42 GMT 7
I get fixed deposit Bangkok Bank 1.62% It was better last year. Anyone can open an account as far as I know.
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scooter
Crazy Mango
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Post by scooter on Dec 5, 2015 14:46:11 GMT 7
Yeah, I know Bangkok Bank don't usually have anything against a farang opening just about ANY sort of account with them. Pretty good and friendly service, too. I've had BB for years - until we moved, that is, then it became too much of a hassle to drive 50 clicks or so just to do business with them. I chose to drop them and move things to a bank nearer to home. 1.62%? Shoot, that ain't a whole lot - tho it depends on for how long and if it's tax-free or not. But, hell, there ain't nothing any better out my way, as far as I can see. sheeeeeeeeeeeeet Yessiree - it's certainly 'down-times' at the moment for us small savers/investors...
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Post by Fletchsmile on Dec 14, 2015 16:07:15 GMT 7
Quick scan for December. Not a lot happening - generally slightly downwards if any move. Worth shopping around for the promos, like below, instead of their standard rates. (Rates are indicative only, and may have changed by the time you get there } Most of the best rates are 2%+ TMB - Up to 2.75% on "Dream Savings Acc". You need to set an automatic saving schedule of between 500 - 25,000 baht a month for this account (so not big amounts), and you get the special rate up to 2.75%. You can transfer back to other accounts any time without penalty or costs. - 2.55% including 0.55% bonus on "ME" branded accounts which are online only and for now available to Thais only / your trusted Thai spouse/partner. To get the bonus you need to increase your balance each month. Although a variable rate, it has historically been competitive. One nice feature of the account is it shows how much accrued interest you have to date so you know how much to be expecting when payment is made. - 1.9% (down from 2.0%) including bonus on "No Fixed" account. To get the bonus you need to ensure your average balance increases compared to the previous month. Although a variable rate, it has historically been competitive - 2.375% average rate on their Up and Up account, a tiered account with 4% being the final rate - 9M "Exclusive TD" 1.95% - 12M "Reward" TD 2.15% - 12M "quick deposit" 1.95% (interest payable up front, which existing customers can do online) Tanachart (T-Bank) - Promotions for 24 M of 2.35% - 2.65% Stan Chart - 2.5% on Just One account for deposits of 0 - 100,000 only. So small balances only may also be useful for kids. Above 100k it drops significantly to only 1% - 2.0 % on their online only no frills eSaver. Has been consistently a competitive rate for several years now. It's an instant access online access so you would probably need to run another account alongside it if you want an ATM etc - 1.85% average on new Marathon Savings 13 series III. Tiered rate 1.55% - 3% over 6 months open from 1 Nov - 30 Nov. Restricted to 2 withdrawals and THB 200k+ to get best rates. This is comparable to BAY's mee tae dii but better rate at the moment and for periods of 6m at a time, although you just take out the next series when it's due. KBank - 2.25% on 24m Taweesup - Super Taweesup 2.5% - 2.9% on 24M. Would need to check T&C for the difference KTB - 24M TD @ 2.7% - 36M TD @ 2.95% CIMB - 2.15% on 12 M - Up to 1.8% on their speed saving account for balances > THB 1mn They've a tendency to attach conditions to some of their special accounts, linking them to a need to open others so bear that in mind Government Savings Bank (Omsin) - 24M TD 2.5% BAY Up to 1.7% (down again from 1.8%) on their Mee Tae Dee account which has historically been good, but less so in recent months. Balance between 100k and 10mio. Below 100k or above 10mio drops to only 0.6% BBL 24 M @ 2.25% SCB 24 M "Smart Kid" @ 1.7% UOB .. Cheers Fletch {BTW: Don't forget that after 11 August 2015 deposit protection drops to THB 25mio. It's scheduled to drop to THB 1mio from August 2016. While this may not happen, bear it in mind if taking out fixed/term deposits over one year, as the maturity's could be guaranteed at much lower levels than when you took them out}
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GavinK
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Post by GavinK on Jan 4, 2016 12:48:59 GMT 7
StanChart esaver down to 1.75% and, worse still, PowerSaver down to 1.25%
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Post by Fletchsmile on Jan 25, 2016 10:26:18 GMT 7
Quick scan in January. Still, generally downwards if any moves. Worth shopping around for the promos, like below, instead of their standard rates. (Rates are indicative only, and may have changed by the time you get there } Most of the best rates are 2%+ TMB - Up to 2.75% on "Dream Savings Acc". You need to set an automatic saving schedule of between 500 - 25,000 baht a month for this account (so not big amounts), and you get the special rate up to 2.75%. You can transfer back to other accounts any time without penalty or costs. - 2.55% including 0.55% bonus on "ME" branded accounts which are online only and for now available to Thais only / your trusted Thai spouse/partner. To get the bonus you need to increase your balance each month. Although a variable rate, it has historically been competitive. One nice feature of the account is it shows how much accrued interest you have to date so you know how much to be expecting when payment is made. - 1.9% including bonus of 0.5% on "No Fixed" account. To get the bonus you need to ensure your average balance increases compared to the previous month. Although a variable rate, it has historically been competitive - 2.1% average rate on their Up and Up account (down from 2.375%), a tiered account with 4% being the final rate - 9M "Exclusive TD" 1.8% (down from 1.95%) - 12M "Reward" TD 2% (down from 2.15%) - 12M "quick deposit" 1.8% (down from 1.95%, interest payable up front, which existing customers can do online) Tanachart (T-Bank) - Promotions for 24 M of 2.35% - 2.65% Stan Chart - 2.25% (down from 2.5%) on Just One account for deposits of 0 - 100,000 only. So small balances only may also be useful for kids. Above 100k it drops significantly to only 1% - 1.75% (down from 2.0%) on their online only no frills eSaver. Has been consistently a competitive rate for several years now. It's an instant access online access so you would probably need to run another account alongside it if you want an ATM etc - 1.85% average on new Marathon Savings 13 series III. Tiered rate 1.55% - 3% over 6 months open from 1 Nov - 30 Nov. Restricted to 2 withdrawals and THB 200k+ to get best rates. This is comparable to BAY's mee tae dii but better rate at the moment and for periods of 6m at a time, although you just take out the next series when it's due. KBank - 2.25% on 24m Taweesup - Super Taweesup seems to have dropped off (previously 2.5% - 2.9% on 24M) Would need to check T&C for the difference KTB - 24M TD @ 2.7% - 36M TD @ 2.95% CIMB - 2.15% on 12 M - Up to 1.8% on their speed saving account for balances > THB 1mn They've a tendency to attach conditions to some of their special accounts, linking them to a need to open others so bear that in mind Government Savings Bank (Omsin) - 24M TD 2.5% BAY Up to 1.7% on their Mee Tae Dee account which has historically been good, but less so in recent months. Balance between 100k and 10mio. Below 100k or above 10mio drops to only 0.6% BBL 24 M @ 2.25% SCB 24 M "Smart Kid" @ 1.7% UOB .. Cheers Fletch {BTW: Don't forget that after 11 August 2015 deposit protection drops to THB 25mio. It's scheduled to drop to THB 1mio from August 2016. While this may not happen, bear it in mind if taking out fixed/term deposits over one year, as the maturity's could be guaranteed at much lower levels than when you took them out}
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Post by Fletchsmile on Feb 2, 2016 19:57:34 GMT 7
Walking past today I saw CIMB had 5M at 1.8% and 8 month at 2.1% on fixed deposits. Non-standard periods (1,3,6,9,12m etc being standard) often have better rates. Always need to read the small print and T&C for CIMB though and they've a habit of making things complicated
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Post by Fletchsmile on Mar 2, 2016 9:46:52 GMT 7
TMB who are usually one of the better rate payers have been reducing their account rates. Still some of the better rates around but in line with general downward pressure on deposits for banks:
ME account - Thais only - is still at 2.55% for now including 0.55% bonus until end March, but then 2.3% including 0.5% bonus to end April, and 2.35% including 0.55% bonus for May onwards. Balances up to THB 10mn.
No Fixed: down to 1.8% (from 1.9%) including 0.5% bonus if you don't reduce your balance
Up and Up account - a stepped account averaging 2.1% over 24 months
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buddahas
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Post by buddahas on Mar 3, 2016 17:59:07 GMT 7
Pardon me.... are these savings accounts valid for 400k in the bank for non o?
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AyG
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Post by AyG on Mar 3, 2016 18:16:00 GMT 7
Pardon me.... are these savings accounts valid for 400k in the bank for non o? The accounts available only to Thai nationals, no. The accounts that pay interest up front and don't allow withdrawals during the term, no. Foreign bank accounts and foreign currency bank accounts, no (to the best of my knowledge). But apart from that, all should be OK.
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naam
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Post by naam on Mar 12, 2016 7:50:53 GMT 7
question: are any of you people really bothering with this Thai bank interest rate bullshit?
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AyG
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Post by AyG on Mar 12, 2016 9:40:25 GMT 7
question: are any of you people really bothering with this Thai bank interest rate bullshit? For those of us required by immigration to keep 800,000 baht in the bank it is worth bothering. Using Krung Sri as an example, in a savings account I'd get 0.3%, or 2,400/year. In a 10 month fixed deposit I'd get 1.65%, or 13,200/year - 10,800 baht more, which makes the effort of hunting around worth it. In reality I keep an additional 2-3 years expenditure in baht so the difference is rather more significant.
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Post by Fletchsmile on Mar 12, 2016 13:16:03 GMT 7
Pardon me.... are these savings accounts valid for 400k in the bank for non o? Most of the accounts I mention are. ME by TMB is open to Thai nationals only so can't. Most with a passbook will be OK.
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Post by Fletchsmile on Mar 12, 2016 13:26:31 GMT 7
question: are any of you people really bothering with this Thai bank interest rate bullshit? I tend to pick accounts that are consistently among top payers so don't change around that much. Can't be bothered chopping and changing with rates around 2%. Still I guess that's better than 0.X% I get on Singapore or Uk accounts. Or 0.X% on a normal Thai acc if someone hasn't had a look around. So keeping a quick list helps track which are consistently up there. Stan Charts Marathon accounts every 6 months and eSaver all the time as an online account. TMB no fixed for me and ME by TMB for the wife. Those are the key 4 for us. Occasionally take a special offer elsewhere.
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naam
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Post by naam on Mar 12, 2016 13:47:59 GMT 7
as we are required to keep 1.6mm for our yearly extension the 20+k additional interest look like money found in the street. but when i think of crossing the property line plus dragging the Mrs. from one bank to another one because of the anachronistic passbook system then it's "thank you but NO thank you!"
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