Hello all,
I'm wondering if anyone here has any experience with investing their money in Thai banks (ie: certificates of deposit or other time deposits). I know the interest paid by the Thai banks is not much but it seems to be more, even at times double that of US banks.
Does the Thai Banking system have any kind of deposit insurance ?
I'm retired here in Bangkok from the US and living on a modest pension and social securty. I have had an account with Kasikorn Bank for the past two years.
Thank you for any information.
Time Deposits $'s
Re: Time Deposits $'s
Your post opens with Time Deposit $'s , so if you are thinking about US (?) $ deposits the rate will most certainly not be double what is available in the USA.ric wrote:Hello all,
I'm wondering if anyone here has any experience with investing their money in Thai banks (ie: certificates of deposit or other time deposits). I know the interest paid by the Thai banks is not much but it seems to be more, even at times double that of US banks.
Does the Thai Banking system have any kind of deposit insurance ?
I'm retired here in Bangkok from the US and living on a modest pension and social securty. I have had an account with Kasikorn Bank for the past two years.
Thank you for any information.
If you are thinking about Thai Baht Time Deposit rates then you are correct BUT you have the foreign exchange risk to consider.
Courage is grace under pressure and when circumstances change you change your mind.
Re: Time Deposits $'s
At the moment i have money in a 6month term deposit at 2.9% with kasikorn,they withhold 15% of the interest for tax,in the past i have had 3.6%.
Your money is guaranteed safe up to 1million baht,i have researched the liquidity of thai banks and in my opinion because of there high deposit ratio to loan ratio the thai banks are more safer than most western countries.
In australia i was getting around 5% but with interest rates coming down and the aussie dollar likely to weaken i have transferred more to thailand.My thinking is, if i plan to live fulltime here in thailand,it make sense to have a hedge against currency fluctuations,whether it be money in the bank and/or a property.
Your money is guaranteed safe up to 1million baht,i have researched the liquidity of thai banks and in my opinion because of there high deposit ratio to loan ratio the thai banks are more safer than most western countries.
In australia i was getting around 5% but with interest rates coming down and the aussie dollar likely to weaken i have transferred more to thailand.My thinking is, if i plan to live fulltime here in thailand,it make sense to have a hedge against currency fluctuations,whether it be money in the bank and/or a property.
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heartofmidlothian
- Professional
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Re: Time Deposits $'s
I still remember the good old days of 1996/97 when I used to get 16% in these Thai banks! I think Bangkok Bank are offering 3.3% for 11 months with min deposit of 200 000 baht. Does anyone know of a better rate?