Thai bank interest?

[Pagey]

Buksi: search money supermarket or google offshore savings. I never mentioned HSBC. Alliance & Leicester, Clydesdale, AIB, BOI. All are covered by the offshore compensation scheme up to 50,000 GBP so only invest 50,000 max in any. Onshore increased their limits to 85,000 last year but offshore remains at 50,000.

And they all pay interest gross, no tax deducted.

[ken.p]

Terry.

Its my understanding as long as you’re an expat, interest from offshore accounts do not get disclosed to the UK Government. You may find Lloyds international of some help.

https://www.lloydstsb-offshore.com/log-off/currency/..


Ken.

[Marky_Mark]

Aussie term deposit rates here http://www.ratecity.com.au/term-deposits

[malcolminthemiddle]

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!

Google

EU Savings Tax Directive (EUSTD)

[StevePIraq]

Be very careful about investing offshore UK, it is not the banks I am warning about but the UK Tax office.
As we all know the UK is in serious financial trouble, the IMF puts the UK economy as the 1oth most at risk economy in the world.
The UK tax department has no authority to access accounts however banks are required to provide names of British citizens who bank with them.
I have recently been requested by our beloved HM Revenue & Customs to provide details of all foreign earned income deposited with UK Offshore banks since my departure from the UK in 1981. The tickler at the end of the letter was "Failure to provide the requested information may impact on your right to government benefits".
Anyway what is the point in banking offshore these days when the return is so low, it actually costs you money to bank with them.

Another option if you can is simple Australian fixed deposits, one of the few economies still doing well and paying 5+%

[Lev]

This thread was about interest in Thai banks, please start another one if you wish to discuss banking in other countries.

[StevePIraq]

@Admin, of course you are correct my post was not in line with the topic, but then again were any of the responses?
It's all just chatting and passing on info.
Best wishes

[magobligin]

Hey Moose

You can get all bank daily deposit rates at www.bot.or.th/English.

Chok dee

[JimmyGreaves]

Hey Moose

You can get all bank daily deposit rates at http://www.bot.or.th/English.

Chok dee

http://www.bot.or.th/english/statistics ... _Rate.aspx

2.3500-2.5000

Does this mean after/before tax?

[icebear]

JG must be before tax.

Almost all banks state their interest rates, but the tax is not mentioned.....a bit misleading

[Nereus]

JG must be before tax.

Almost all banks state their interest rates, but the tax is not mentioned.....a bit misleading

I was in Bangkok Bank this morning and they were wanting me to put some of my savings account into a term deposit. 2.17% for 3 months, 15% Government withholding tax levied on the Interest at the end of the term. If you need to withdraw all or part of the deposit before the term expires, then the Interest paid will be calculated at the current savings account rate, ie: 0.8xx %, on the full amount of the deposit.

I could not find out for sure if there are any other "hidden fees", but as it is really only a glorified savings account, probably not.

[icebear]

Sorry N. but your interest quoted is IMHO for 12 months less 15 % tax.

You better check this out again.

All Thai banks have reduced the rates this year twice already.

[Nereus]

Sorry N. but your interest quoted is IMHO for 12 months less 15 % tax.

You better check this out again.
All Thai banks have reduced the rates this year twice already.

The Thai Banks do not set the tax rate, the Government does.

Not sure what you are getting at here? A term deposit, regardless of the term, is taxed at the rate of 15% per annum. If you look at the chart on the link that was posted it clearly shows the different interest rates for different periods of fixed terms.

[icebear]

Nereus, I've sent you a pm

[StevePIraq]

TMB are now giving 3.4% for 12 months with 15% tax on interest earned. This seems to be the best in Tland at this time.