Fixed Deposit Account for an OA extension

[ThailandRyan]

Looking for info on a bank who has the best Fixed deposit account with a decent interest rate to plant the 800,000 baht and leave it. Obviously it is to be used for my OA extension of stay I will need to apply for coming up in November. I do have the monthly amount transferred every month from my pension fund, but would like less hassles as far as the 12 months of bank statements and the certified bank letter from Kasikorn who I bank with.

[HAPPYNUFF]

If you search the net   for ""  daily interest rates for commercial banks:"  you will get your answer..   The list includes   term deposits as well as   ordinary savings accounts.   Im afraid the best rate you seem to get, for 12 months, fixed, is o.5 %  from any of the banks listed there.

[ThailandRyan]

Thank you @HAPPYNUFF

Wading through the banks sites, I have been seeing, Thai National, on a lot of the fixed deposit accounts that have rates of 1.5 or 1.75, and tgen other things as a fireigner I can not get into. That to me is racist in so many ways.  Frustrating, even trying to find a money market account is impossible. It is why i have always left my money stateside in my investments. However, with the new normal the mo ey must be here so I don't jump through hoops.

[stouricks]

Three months at 0.5% PA ain't gonna get you much interest.

In English we would say 'belt & braces' if you already have sufficient from your pension every month PLUS 800k in the bank.

[ThailandRyan]

7 minutes ago, stouricks said:

Three months at 0.5% PA ain't gonna get you much interest.

In English we would say 'belt & braces' if you already have sufficient from your pension every month PLUS 800k in the bank.

Thats what it will be. Its just for the OA extension of stay. Up until now I was able to fly out and visit the US then return and extend for another year. At the end of that year when I went back to the US I would re-up the visa, and do it again. Was easier than the extension route and paying for a re-entry permit if I left for travel to other countries as it was an ME O-A visa, so only need 90 day reporting. 

[Andrew Dwyer]

There was a thread on this subject last year , out of date I know, but it had some good info on fixed deposit accounts and how to get a better interest rate with a 2 year ( or longer ) fixed account.

One of TVF’s ladies was the op , think it was @NancyL or maybe @Sheryl

[ThailandRyan]

5 minutes ago, Andrew Dwyer said:

There was a thread on this subject last year , out of date I know, but it had some good info on fixed deposit accounts and how to get a better interest rate with a 2 year ( or longer ) fixed account.

One of TVF’s ladies was the op , think it was @NancyL or maybe @Sheryl

Thanks Andrew, it was why I posted again to see if there was anything up to date. Figured I may not be the only one now needing some new info and maybe someone had done it recently.

[Sheryl]

As you already bank at Kasikorn, open an account there.

 

https://kasikornbank.com/en/personal/Account/Pages/fixed.aspx

 

I have a FD account at Kasikorn that pays the interest into my regular savings account. It's around 1.5% annually but that was for 24 months and opened over a year ago, rates have dropped

 

https://kasikornbank.com/en/rate

 

 

 

 

[ThailandRyan]

8 minutes ago, Sheryl said:

As you already bank at Kasikorn, open an account there.

 

https://kasikornbank.com/en/personal/Account/Pages/fixed.aspx

 

I have a FD account at Kasikorn that pays the interest into my regular savings account. It's around 1.5% annually but that was for 24 months and opened over a year ago, rates have dropped

 

https://kasikornbank.com/en/rate

 

 

 

 

@Sheryl thank you. Sounds perfect. I will check k on Monday.  Starting it now will also season the money as needed since it will be a first time extension.

[Imd8ta]

Renewed my marriage visa yesterday after 34 signatures. 

Gotta go back next month but they said don't worry about bringing another statement from the bank. Maybe getting a bit lax or they just like me.

[NancyL]

On 8/8/2020 at 11:21 AM, ThailandRyan said:

@Sheryl thank you. Sounds perfect. I will check k on Monday.  Starting it now will also season the money as needed since it will be a first time extension.

just be sure you open a Fixed Deposit Account and not a Mutual Fund Account or something similar where your money is locked in and can't be withdrawn under any circumstances.  I know someone who did this at a branch where the staff didn't speak much English.  They assured him they could provide a letter for Immigration.  Basically, the letter said that his money was locked-in for two years and he couldn't touch it -- not what Immigration wanted.