chiang mai Posted June 10, 2012 Author Share Posted June 10, 2012 To sum up then is this the best at this time? KTB offer 3.9% on a 10 month deposit I haven't seen higher but I wonder about the wisdom of fixing for ten months, my guess is that there will be a bank rate increase this year so whilst 3.9% looks good now, there may be better on offer in a few months. Having said that, I've got some funds comming due at the end of this month and that looks like it could well be a good home for them. Link to comment Share on other sites More sharing options...
Darrel Posted June 10, 2012 Share Posted June 10, 2012 I haven't seen higher but I wonder about the wisdom of fixing for ten months, my guess is that there will be a bank rate increase this year so whilst 3.9% looks good now, there may be better on offer in a few months. When I took out my Kbank 3.8% 13-month step-bond there were some people saying the same thing. My bond matures in 3 months and I've seen nothing else around during that time that would have beaten it. Some people were saying the same about UK rates when I went for 3- and 5-year bonds last year, and so far rates have dropped since then. Bird - hand - bush. Link to comment Share on other sites More sharing options...
Darrel Posted June 10, 2012 Share Posted June 10, 2012 KTB offer 3.9% on a 10 month deposit http://www.ktb.co.th/en/news_promotion/3_financial_products.jsp This is a bill of exchange rather than an insured deposit account, and it seems to have expired in September 2011 anyway. Currently I think you can get 4.5% or thereabouts from TMB for a bill of exchange. Link to comment Share on other sites More sharing options...
chiang mai Posted June 10, 2012 Author Share Posted June 10, 2012 I haven't seen higher but I wonder about the wisdom of fixing for ten months, my guess is that there will be a bank rate increase this year so whilst 3.9% looks good now, there may be better on offer in a few months. When I took out my Kbank 3.8% 13-month step-bond there were some people saying the same thing. My bond matures in 3 months and I've seen nothing else around during that time that would have beaten it. Some people were saying the same about UK rates when I went for 3- and 5-year bonds last year, and so far rates have dropped since then. Bird - hand - bush. Yup, damned if you do and damned if you don't, unless you get lucky, red and black spring to mind. Link to comment Share on other sites More sharing options...
how241 Posted June 10, 2012 Share Posted June 10, 2012 I've been spreading cash around various banks to keep below the 1MB deposit protection ceiling in all of them and was running out of options. That account will do. Standard Chartered offer a slightly higher rate with fewer restrictions but they don't have branches anywhere I want to go to. So the max you can have in any thai bank account with protection is one million baht? Is tha correct? thanks Yes, Starting this August. Link to comment Share on other sites More sharing options...
how241 Posted June 10, 2012 Share Posted June 10, 2012 Have you seen anything else that's decent? CIMB has a 5 month fix at 3.3% but I've not seen much else that's decent, I'm also trying to spread my funds around but am running out of banks, almost impossible to stay under the 1 mill. rule. For instant access CIMB still have the Speed Savings at 2.75% (conditions apply) as discussed previously. TMB is OK at 2.25%. Stanachart at 2.5% Time-deposits are another matter and the special offers (which are the only ones worth having) seem to change quite often. LH Bank still has 2.75% savings account IF you have 1 million in it. Under 1 million and it drops to 2.5%. Available at the Pattaya branch, by the Big-C, second floor. Link to comment Share on other sites More sharing options...
MJCM Posted June 10, 2012 Share Posted June 10, 2012 LH Bank still has 2.75% savings account IF you have 1 million in it. Under 1 million and it drops to 2.5%. Available at the Pattaya branch, by the Big-C, second floor. Care to disclose which Big C as we have 3 Big C's (oke 1 is Big C Extra ) in town Link to comment Share on other sites More sharing options...
how241 Posted June 10, 2012 Share Posted June 10, 2012 LH Bank still has 2.75% savings account IF you have 1 million in it. Under 1 million and it drops to 2.5%. Available at the Pattaya branch, by the Big-C, second floor. Care to disclose which Big C as we have 3 Big C's (oke 1 is Big C Extra ) in town This is at the Big-C Extra, on Pattaya Klang(Pattaya Central). 2nd Floor-open until 8 pm., 7 days a week. Link to comment Share on other sites More sharing options...
Darrel Posted June 10, 2012 Share Posted June 10, 2012 LH Bank ... Isn't that one a bit dodgy? Link to comment Share on other sites More sharing options...
how241 Posted June 10, 2012 Share Posted June 10, 2012 LH Bank ... Isn't that one a bit dodgy? Why dodgy ? Yes, it is one of the new and smaller banks but still gov't. insured. No risk for the first 1 million. Link to comment Share on other sites More sharing options...
flying Posted June 10, 2012 Share Posted June 10, 2012 BAY has an instant access account that pays 2.9% where the interest is calculated/accrued daily and posted to the account monthly, limit two withdrawls per month, looks like a hard to beat winner to me. That does sound pretty decent as far as comparable here go. That allowing 2 withdrawals is a nice touch. Also allows more for 50THB each Compared to others that keep all interest if broken if less than 3 months & give simple savings rate for over 3 months but short of the 4 required. Agreed when compared to others (here in Thailand ) hard to beat Thanks http://www.krungsri.com/en/promotion-consumer-detail.aspx?did=572 Link to comment Share on other sites More sharing options...
how241 Posted June 10, 2012 Share Posted June 10, 2012 BAY has an instant access account that pays 2.9% where the interest is calculated/accrued daily and posted to the account monthly, limit two withdrawls per month, looks like a hard to beat winner to me. That does sound pretty decent as far as comparable here go. That allowing 2 withdrawals is a nice touch. Also allows more for 50THB each Compared to others that keep all interest if broken if less than 3 months & give simple savings rate for over 3 months but short of the 4 required. Agreed when compared to others (here in Thailand ) hard to beat Thanks http://www.krungsri....il.aspx?did=572 It's a GOOD deal. As a point of info, you need to have over 100,000 to get the 2.9% otherwise you get 1%. Their online banking is very good too. Nice website. Link to comment Share on other sites More sharing options...
flying Posted June 10, 2012 Share Posted June 10, 2012 It's a GOOD deal. As a point of info, you need to have over 100,000 to get the 2.9% otherwise you get 1%. Their online banking is very good too. Nice website. Yes I agree....My wife has had an account there for many years & we recently closed a mortgage there. The online banking does work fine & we regularly used it even from the US to pay utilities etc. I will open one for myself tomorrow. Link to comment Share on other sites More sharing options...
chiang mai Posted June 10, 2012 Author Share Posted June 10, 2012 I'm done messing around with these things and am in the process of opening accounts with every Thai bank (excpet the ones I want to stay away from), that way when I want to switch into a new product offered by bank X,Y or Z it becomes a simple matter of funding the existing account and transfering said funds into the desired product. Each account gets THB 5k and no more, until I take up a specific product offer, funds in the meantime can sit in the BAY 2.9 account and at least be working. Which banks don't interest me: L&H because they were really sh*tty towards me and made me crawl through hoops and demanded I get a work permit before I could open an account, hah! Also, why do I want to invest in a real estate company bank, actually I don't think I do, insurance or no insurance. Link to comment Share on other sites More sharing options...
Darrel Posted June 10, 2012 Share Posted June 10, 2012 That allowing 2 withdrawals is a nice touch. Also allows more for 50THB each The T&Cs are copied from TMB's "No Fixed" account. I suspect that like TMB they will reduce the rate quietly over time. Link to comment Share on other sites More sharing options...
Darrel Posted June 10, 2012 Share Posted June 10, 2012 Why dodgy ? Yes, it is one of the new and smaller banks but still gov't. insured. No risk for the first 1 million. Just something I heard somewhere. Yes, I know the insurance covers them. Link to comment Share on other sites More sharing options...
flying Posted June 10, 2012 Share Posted June 10, 2012 That allowing 2 withdrawals is a nice touch. Also allows more for 50THB each The T&Cs are copied from TMB's "No Fixed" account. I suspect that like TMB they will reduce the rate quietly over time. You know their (BAY) 3.2%pa for 4 month does not look bad either.....But as you said they are free to reduce the "No Fixed" type accounts as they like. The 4 month may be a better bet in that regard. Here is their list Interest_728Deposit-01-06-2012.pdf Link to comment Share on other sites More sharing options...
belg Posted June 10, 2012 Share Posted June 10, 2012 Tanachart... 3.7% average on a 15 month plan Link to comment Share on other sites More sharing options...
Darrel Posted June 10, 2012 Share Posted June 10, 2012 You know their (BAY) 3.2%pa for 4 month does not look bad either.....But as you said they are free to reduce the "No Fixed" type accounts as they like. The 4 month may be a better bet in that regard. CIMB has 5 months at 3.3% The 3.9% will probably be good for at least 6 months, and as it's an instant access account anyway one can keep an eye on it and move as needed. I will be getting one on Monday. Link to comment Share on other sites More sharing options...
how241 Posted June 10, 2012 Share Posted June 10, 2012 That allowing 2 withdrawals is a nice touch. Also allows more for 50THB each The T&Cs are copied from TMB's "No Fixed" account. I suspect that like TMB they will reduce the rate quietly over time. You know their (BAY) 3.2%pa for 4 month does not look bad either.....But as you said they are free to reduce the "No Fixed" type accounts as they like. The 4 month may be a better bet in that regard. Here is their list Interest_728Deposit-01-06-2012.pdf Aren't those 4 month rates for 2011 ?? Link to comment Share on other sites More sharing options...
cheeryble Posted June 10, 2012 Share Posted June 10, 2012 That allowing 2 withdrawals is a nice touch. Also allows more for 50THB each The T&Cs are copied from TMB's "No Fixed" account. I suspect that like TMB they will reduce the rate quietly over time. The dirtbag National Westminster did that to me.....and a lot of others. It was obviously planned, first-degree robbery. They would start a new account for larger deposits EVERY YEAR with a rich sounding name like "silver high interest account". Next year down went the interest.....and I mean down to near nothing.....and a new account started with a different name like "Diamond High Payer" Purposely aimed at old ladies (and me) who couldn't be bothered to look at the rates and trusted the Natwest. I suddenly noticed I was near 5000 down from expected. I called and complained. He said Oh No this was brought up in 19-whatever it was and we put the rate on all statements. Just a minute said I, and shuffled through old statements to find it wasn't there for that year or a long time afterwards. Filth.... Link to comment Share on other sites More sharing options...
how241 Posted June 10, 2012 Share Posted June 10, 2012 The 2 withdraws a month seems to be common in Thailand. Be careful , as even a 50 baht mobile top-up will count as one withdraw. If you pay attention, it really is no problem. Link to comment Share on other sites More sharing options...
12DrinkMore Posted June 10, 2012 Share Posted June 10, 2012 That allowing 2 withdrawals is a nice touch. Also allows more for 50THB each The T&Cs are copied from TMB's "No Fixed" account. I suspect that like TMB they will reduce the rate quietly over time. The dirtbag National Westminster did that to me.....and a lot of others. It was obviously planned, first-degree robbery. They would start a new account for larger deposits EVERY YEAR with a rich sounding name like "silver high interest account". Next year down went the interest.....and I mean down to near nothing.....and a new account started with a different name like "Diamond High Payer" Purposely aimed at old ladies (and me) who couldn't be bothered to look at the rates and trusted the Natwest. I suddenly noticed I was near 5000 down from expected. I called and complained. He said Oh No this was brought up in 19-whatever it was and we put the rate on all statements. Just a minute said I, and shuffled through old statements to find it wasn't there for that year or a long time afterwards. Filth.... Banks are simply not to be trusted. IME UK banks are the worst in the world, run and staffed by arrogant pricks. Link to comment Share on other sites More sharing options...
how241 Posted June 10, 2012 Share Posted June 10, 2012 That allowing 2 withdrawals is a nice touch. Also allows more for 50THB each The T&Cs are copied from TMB's "No Fixed" account. I suspect that like TMB they will reduce the rate quietly over time. The dirtbag National Westminster did that to me.....and a lot of others. It was obviously planned, first-degree robbery. They would start a new account for larger deposits EVERY YEAR with a rich sounding name like "silver high interest account". Next year down went the interest.....and I mean down to near nothing.....and a new account started with a different name like "Diamond High Payer" Purposely aimed at old ladies (and me) who couldn't be bothered to look at the rates and trusted the Natwest. I suddenly noticed I was near 5000 down from expected. I called and complained. He said Oh No this was brought up in 19-whatever it was and we put the rate on all statements. Just a minute said I, and shuffled through old statements to find it wasn't there for that year or a long time afterwards. Filth.... Banks are simply not to be trusted. IME UK banks are the worst in the world, run and staffed by arrogant pricks. Banks are ALL about the fine print. You have to read carefully. The banks count on most people not doing that. Link to comment Share on other sites More sharing options...
JimGant Posted June 10, 2012 Share Posted June 10, 2012 So the max you can have in any thai bank account with protection is one million baht? Is tha correct? thanks I assume that if the only account you have is a joint account, then the protection for that account is two million baht. But, the reference Tywais gave [ http://www.thailawforum.com/thai-deposit-insurance-law.html ] has me confused, as the chart is mangled on my browser. And the quote isn't too helpful either. Though married couples will receive protection on a per person and per account basis of up to 1 million, separately, in the event of their owning a joint account, protection will not be separated out for that account. In most cases, the money will be split and counted against the individual account of each spouse So, if both the wife and I have separate 500k accounts, plus a joint account worth one million -- are we fully covered? If not, then we'd need separate accounts of one million each -- but surely there should be no bias against joint accounts..... ....... and if there are no separate accounts to have joint funding "split and counted against the individual account of each spouse" -- is the joint account then insured up to two million? Link to comment Share on other sites More sharing options...
flying Posted June 10, 2012 Share Posted June 10, 2012 Aren't those 4 month rates for 2011 ?? Would have to double check but.....the pdf is the most recent from their site & dated June 1st 2012 From the pdf.... Bank of Ayudhya Public Company LimitedRe: Interest Rates for Deposit Accounts Effective from 5 June 2012 Link to comment Share on other sites More sharing options...
Darrel Posted June 11, 2012 Share Posted June 11, 2012 Banks are simply not to be trusted. IME UK banks are the worst in the world, run and staffed by arrogant pricks. You just have to be smarter than they are in order to get what you want rather than what they want. Thankfully, being smarter than them isn't hard to achieve. Link to comment Share on other sites More sharing options...
how241 Posted June 11, 2012 Share Posted June 11, 2012 Aren't those 4 month rates for 2011 ?? Would have to double check but.....the pdf is the most recent from their site & dated June 1st 2012 From the pdf.... Bank of Ayudhya Public Company LimitedRe: Interest Rates for Deposit Accounts Effective from 5 June 2012 Yes, the pdf is dated June 5, 2012 on the top-opening page. But scroll down to the 4 month specials "4-months Special Time Deposit Account Account opening from 2 Aug - 11 Aug 2011 (4 Months#3)" ..... It is the same with the 10 month rates. Link to comment Share on other sites More sharing options...
Darrel Posted June 11, 2012 Share Posted June 11, 2012 Opened one this morning in Jomtien. Efficient and painless. The cashier seemed concerned that I didn't have a work permit until she saw my retirement extension stamp, at which point she cheered up visibly. Somehow I don't think they will open accounts for anyone who doesn't have a long visa, though I may be wrong. Bright yellow passbook to add to my collection. Link to comment Share on other sites More sharing options...
yoshiwara Posted June 11, 2012 Share Posted June 11, 2012 That allowing 2 withdrawals is a nice touch. Also allows more for 50THB each The T&Cs are copied from TMB's "No Fixed" account. I suspect that like TMB they will reduce the rate quietly over time. The dirtbag National Westminster did that to me.....and a lot of others. It was obviously planned, first-degree robbery. They would start a new account for larger deposits EVERY YEAR with a rich sounding name like "silver high interest account". Next year down went the interest.....and I mean down to near nothing.....and a new account started with a different name like "Diamond High Payer" Purposely aimed at old ladies (and me) who couldn't be bothered to look at the rates and trusted the Natwest. I suddenly noticed I was near 5000 down from expected. I called and complained. He said Oh No this was brought up in 19-whatever it was and we put the rate on all statements. Just a minute said I, and shuffled through old statements to find it wasn't there for that year or a long time afterwards. Filth.... Don't be pathetic. Link to comment Share on other sites More sharing options...
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