Thai bank interest?

[moose 961]

what kind of interest are the thai banks giving on deposits?
thanks

[buksida]

K-Bank are currently giving 2.3% on a 6 month fixed deposit.

[hhfarang]

A while back I saw a couple of banks (sorry don't remember which ones) offering graduated time deposits with rates around 5% for longer times (24 or 36 months). I think one of them was Bangkok Bank.

Here's all I could find easily to compare on the internet now... individual bank sites usually have English language pages with rates on them.

http://thailand.deposits.org/

[poosmate]

Bay are currently giving me 3.5% p/a three month fix.

[Johnnywastaken]

These rates listed here walk over anything in North America... short of growth funds that are guaranteed .....

Just curious but why doesn't any Thai Bank want to be on the HH Forum sponsor list... ? Considering it caters to a wide field of expats that they might want to attract...?

[hhfarang]

I'm not sure many Thai banks (maybe Bangkok Bank) really cater to expats. I think their main target is rich Thais and Asian business owners. We (expats) are a very small, if not insignificant, segment in the financial market here (at least I am! ).

[icebear]

Just to point out that any time deposit is subjected to a tax of 15%.

Not to incur any tax, invest in funds which offer above banks interest rates.

Such as Krungsri (for investments) offer between 3-4 % (annually) with no tax.

[Johnnywastaken]

Just to point out that any time deposit is subjected to a tax of 15%.

Not to incur any tax, invest in funds which offer above banks interest rates.

Such as Krungsri (for investments) offer between 3-4 % (annually) with no tax.

[Mod Edited: correct, we are not allowed to discuss this.] or are we allowed to even discuss that scenario.....?

[Johnnywastaken]

Just to point out that any time deposit is subjected to a tax of 15%.

Not to incur any tax, invest in funds which offer above banks interest rates.

Such as Krungsri (for investments) offer between 3-4 % (annually) with no tax.

[Mod Edited: correct, we are not allowed to discuss this.] or are we allowed to even discuss that scenario.....?

Ok....my apologies to the board.....I'm still learning....

[moose 961]

new to me, so its 7% on regular purchases and 15% on a time deposit.

[terry+carmen]

Check with each bank individually they often have "special offers" there is a withholding tax but if you are taxed at 22% as I am in the UK IMO it is still better to have money in banks here. Time deposits over three months can earn more than I get on my offshore accounts when you take the taxes into consideration.

PM me if you want to know more.

[buksida]

Indeed, HSBC are currently offering a whopping 0.18% interest on their fixed deposit offshore accounts.

Aside from the unmentionable scenario savings are better off here.

[Pagey]

Terry & Carmen

If you are investing in UK offshore banks you do not pay any UK tax on your interest or are we talking about something different ?

Current fixed term UK offshore accounts offer around 3.5% for 1 year and 4% for 3 years tax free.

I would be interested to know if Thailand banks can better that after taxes ?

[buksida]

Current fixed term UK offshore accounts offer around 3.5% for 1 year and 4% for 3 years tax free.

Which banks? HSBC Offshore are definitely not offering this.

[terry+carmen]

I have a small account offshore, yes some accounts do pay 4% for 2/3 years. But since last year I have been taxed on the interest. Previously it only applied to our onshore accounts but I believe rules changed and now it is everything. Anyone know how to avoid the tax let me know PLeeease!