Jump to content
BANGKOK
JetsetBkk

Which Bank To Put 800K In For A Year?

Recommended Posts

SCB informed me that their term deposit account is now giving me 0.9% interest.

They wanted me to buy life insurance which somehows pays more, but I'm not interested.

So I'm looking for a better 1 year term deposit account.

After perusing the forum, I have a short list of LH Bank, Bangkok Bank and Thanachart Bank.

 

 Anyone have recommendations?

 

  • Thanks 1

Share this post


Link to post
Share on other sites

I just renewed at Bangkok Bank at 1% p.a. For normal deposit accounts I think that would be the maximum anywhere. And interest rates are dropping monthly.

  • Like 1

Share this post


Link to post
Share on other sites
9 hours ago, DaRoadrunner said:

Never keep more money than you need in this Mickey Mouse country.

If only the big players would be as suspicious as you and the exchange rate would be cause for joy.

 

 

  • Like 1
  • Haha 1

Share this post


Link to post
Share on other sites
10 hours ago, ChouDoufu said:

also consider why you're getting the account.  it's for your immigration bail money, so you're gonna need to get your passbook updated and have a guarantee letter prepared each time you renew.  (maybe more often if io requires a visit after 90 days).

 

how convenient is it to do that on immigration morning? 

if you attend CW, some banks have branches in the immigration building.

bangkok bank opens at 8:30, you can get your book updated without a transaction required, and your letter in about ten minutes.

Getting the paperwork easily is one of the reasons I stuck with Krung Thai for a few years before switching to SCB. Both banks know exactly what paperwork is needed, especialy if you give them a copy of the previous year's paperwork and ask them to update it all - the letter, the statement of account, the bank book copies... all with the bank's stamp and signed. It takes them quite a while - even the statement of account printout requires them to complete a form that I have to sign. I can see why they charge 200 baht for it all.

 

Share this post


Link to post
Share on other sites
11 hours ago, couchpotato said:

I just renewed at Bangkok Bank at 1% p.a. For normal deposit accounts I think that would be the maximum anywhere. And interest rates are dropping monthly.

My SCB book says "Fixed Special" after my deposits are listed and also specifies the rate and due date.

So I'm looking for a fixed rate "term deposit" account (if that's the correct terminology).

I'm pretty sure when I checked various banks a few years ago, some of them said, basically, "Yes, fixed rate one year. Oh, you are farang. Cannot."

🤐

 

Share this post


Link to post
Share on other sites
15 hours ago, JetsetBkk said:

SCB informed me that their term deposit account is now giving me 0.9% interest.

They are constantly pushing <deleted> so you can get a simple service.  I wanted a saftey deposit box but they want me to buy life insurance.  Kaskikorn is doing the same <deleted>.

 

 

Share this post


Link to post
Share on other sites
28 minutes ago, Stadtler said:

They are constantly pushing <deleted> so you can get a simple service.  I wanted a saftey deposit box but they want me to buy life insurance.  Kaskikorn is doing the same <deleted>.

I've got a Kasikorn account just for buying stuff on the internet. Kasikorn give you a "Shopping card" which is a "virtual" VISA card so it's easy to buy stuff from Lazada, AliExpress, etc. I keep only about 15K baht in it, so if someone hacks my account they aren't going to get much.

 

  • Like 1

Share this post


Link to post
Share on other sites

I've never had a problem getting a letter from Bangkok Bank for the annual extension ritual.

What I don't understand is why Immigration wants the passbook updated on the day of extension. Sure, one could have a debit or credit card attached and be removing funds that way. But if the bank letter states the account is passbook ONLY, I don't see why Immigration could not accept that.

  • Like 1

Share this post


Link to post
Share on other sites
Posted (edited)
3 hours ago, JetsetBkk said:

Getting the paperwork easily is one of the reasons I stuck with Krung Thai for a few years before switching to SCB.

 

 

The fixed deposit interest rate is almost the same in every bank in Thailand.

 

My bank also wanted me to put my money in life insurance for xx (more than 5) years but I refused because it can't be used as proof for retirement visa application (I think). Furthermore, if there's an emergency premature withdrawal, you will lose whatever extra interest rate you gained.

 

So the main difference between one bank and another is the level of service and ease of getting documents for visa renewal.

 

I used to think that SCB was the best until I met a xenophobic branch manager and staff in my area. There are other SCB branches with better customer service but they are far away.

 

I now put my money in Krungsri bank and they have a flexible Mae Dee savings account that pays almost the same rate as fixed deposit but I can withdraw anytime. The branch manager and staff is also very friendly unlike that SCB manager.

 

Bangkok Bank's customer service is also good but they generally pay lower interest rate than Krungsri.

 

So it's not about interest rate which is almost the same but the level of customer service.

Edited by EricTh

Share this post


Link to post
Share on other sites
41 minutes ago, EricTh said:

I now put my money in Krungsri bank and they have a flexible Mae Dee savings account that pays almost the same rate as fixed deposit but I can withdraw anytime.

Are you talking about this account?:

521921638_KrungsriRates.jpg.51caacf04448c9a085c83fd774b7310f.jpg

 

Share this post


Link to post
Share on other sites
46 minutes ago, Lacessit said:

I've never had a problem getting a letter from Bangkok Bank for the annual extension ritual.

What I don't understand is why Immigration wants the passbook updated on the day of extension. Sure, one could have a debit or credit card attached and be removing funds that way. But if the bank letter states the account is passbook ONLY, I don't see why Immigration could not accept that.

I usually get the bank paperwork done one day and go to Immigration a day or two later. Phuket Immigration have never queried me about the dates.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...