Answereda year ago
Do banks in Thailand offer savings schemes to earn interest on the 800,000 baht required for a visa extension?
Another bank question: do the banks have saving schemes where the 800000 can gain some interest?
Answer summary
The consensus among comments is that while it is possible to earn some minimal interest on savings accounts in Thai banks, the rates are extremely low, often around 0.05%. Some respondents suggested that fixed deposit accounts, such as those from Kasikorn Bank, might offer slightly higher interest rates, but overall, the interest accrued on the 800,000 baht is minimal.
29 repliesnewest first
Click comment and we will ask for your email, then OTP, then name.
Rob **********
You can get interest but it is very minimal.
Michael ********
In a nutshell No !
Marianne ********
Fixed Deposit Accounts from Kasikorn has slightly higher interest.
Don't know the numbers or how it compares to other banks, but it's higher than regular accounts.
Don't know the numbers or how it compares to other banks, but it's higher than regular accounts.
Mike ******
I've had 800K in BKK bank for SIX years in a 'high' interest account. It's now worth 820K!
Bradley ********
@Mike *****
exactlyHarry ********
OP@Mike *****
which bank? I am being told it's really hard just to get a bank account!!Mike ******
@Harry *******
I've been here 20+ years. Bangkok Bank.
Frank **********
Yeah it's like .05%.
Stuart ***********
If you pay 65,000 baht into your thai account each month of your first extension, you can use that for your second extension and withdraw the 800,000 baht immediately after.
Harry ********
OP@Stuart **********
what would I do without you!!! Just when I thought I had all the relevant information, I learn about this. I certainly would prefer to pay in my pension every month and withdraw A chunk of the *****
0. Thanks for your help. While I am writing my friend in Chiang Mai (Thai lady who works for the government) confirmed it's difficult to get a bank account. Is this a scam, where you have to employ a local Thai visa agency who can get everything done, whereas we get blocked? I plan to emigrate next DecemberStuart ***********
Opening a bank account should be possible without an agent, provided you come to Thailand with a non-O 90 day visa. Some banks seem reluctant to open accounts for foreigners, but it's a case of trying several banks until one says okay. You will need a Thai phone number and a letter from immigration confirming residency.
Stuart ***********
That's good Harry, with your Thai girlfriend I think you will have no problems. Good luck.
Harry ********
OP@Stuart **********
I plan to do all this in Chiang Mai. My Thai gf will help as much as possible so fingers crossedStuart ***********
You pretty much answered it Harry, take your rental agreement and non-O visa in your passport to immigration and tell them you need the letter to open a bank account. I think an immigration office in Bangkok is reluctant to do this, but the vast majority in Thailand will issue it without a problem.
Harry ********
OP@Stuart **********
how do you get a letter from immigration of residency if you have only just arrived in the country and hopefully with a long rental agreement?
Bill *********
@Stuart **********
I'd much rather make one single deposit of B800k and be done with it as opposed to hoping and wishing that monthly deposits happen perfectly without fail 12 times.Stuart ***********
I understand, it's personal preference. Some people hate leaving 800k in Thailand, so it's just an option for them.
Graham ******
@Stuart **********
It only needs to be 400k from 3 months after the first extension was granted so 800k for just over 5 months total if planned correctlyHarry ********
OP@Graham *****
yet again I learn something new. So keep *****
0 in for 15months, then pay in my pension each month after and I can withdraw the *****
0?Harry ********
OP@Graham *****
many thanks for explaining this. There is so much to remember!!Graham ******
@Harry *******
No, it's 800k 2 months before your first extension then start the 65k monthly international transfers at around the same time. Maintain the 800k for the first 3 months of your extension then never fall below 400k for the rest of the year. When your application for your second application is due you will have 12 monthly deposits to switch to the 65k method then you can withdraw the remaining 400k when on your second extension is inked in.Stuart ***********
@Graham *****
yes that's true. I thought about putting that in my original response but didn't want to overcomplicate it, so I am glad you clarified it Graham.
J **************
The whole thing is a scam
Shawn ********
No
Michael *******
Not true, SCB Easi Pass pays interest, used to be 2.5% has dropped in line with interest rates , I get 12k per year after tax these days….
Harry ********
OP@Michael ******
thanks. I am in pursuit of the truth for everything that is about getting visas.Michael *******
@Harry *******
be sure to ask them for the Easi Pass account, comes without a passbook, but immig accept it ( just did my renewal last week)Harry ********
OP@Shawn *******
meaniesShawn ********
@Harry *******
, this 2.5% HYSA he is referring to is for Thai nationals only and it is not the type account that is set up for liquidation as they require.Activity
13 joined13
people
Related
25Do I need to keep 800,000 THB in my bank for my visa extension in Thailand, or can I use 400,000 THB?
13.8k1002034mo
What are the safest alternatives to using a US bank account for expats in Thailand?
2.6k22265mo
Can I send money to a Thai account using Wise and have it labeled as an international transfer for a long-term visa?
5.1k43536mo
What is the best way to manage the 800,000 THB for a retirement visa in Thailand to ensure access and interest?
17.7k1212797mo
Do I need to keep my credit union account for my Non-O visa application and extension in Thailand?
668469mo
Which bank should I choose in Thailand to open an account for my Non-Immigrant O visa, and can the deposit be in Euro?
6.4k565910mo
Can you use a cashier's check to deposit the required 800,000 baht for a Retirement O visa in Thailand?
691381y
How can I ensure my money transfers to Thailand are processed without issues?
5.4k40681y
What should I do if my Bangkok Bank account is being closed due to my DTV visa status?
8.2k65481y
How can I transfer money from my Krungsri FCD account to my THB account now that the rules have changed?
3.7k31271y
What should I do about transferring 800k baht using Wise for my retirement visa extension in Thailand?
3.9k30381y
Can I transfer 800,000 baht from my Thai retirement visa bank account to Belgium if I leave Thailand permanently?
10.2k731411y
What are the options for opening a high-interest savings account in Thailand for marriage visa requirements?
1.6k1291y
Can I Have Two Separate Bank Accounts in Thailand for Immigration Purposes?
9.4k81962y
Can I maintain two separate bank accounts in Thailand for my retirement visa requirements?
3.8k9672y
What happens to the 800,000 baht deposit in a Thai bank account if the account holder dies?
13.6k1041362y
Will my bank close my savings account if I don't renew my retirement visa in Thailand?
1.6k1062y
Can I use multiple bank accounts and stock accounts to meet the DTV Visa financial requirement?
3.2k16342y
Is it better to open a bank account in Bangkok or Singburi for my non-O visa needs?
1.1k762y
Do the funds for Thai visas need to be in a Thai bank savings account or can they be in a fund account?
2.7k19283y
Can you deposit physical cash into your bank account while on a retirement visa in Thailand?
4.1k28473y
Can I move my 800,000 THB to a fixed deposit account without affecting my visa extension?
2.5k19194y
Is a TM30 required for visa extensions in Thailand?
1.4k8137y
Is there a new law requiring a 400,000 baht deposit for a baby visa extension in Thailand?
869628y
Do the funds for a retirement extension of stay in Thailand need to be in a fixed account or a regular savings account?
736428y
Resources
Need help with your Thai visa?
#1 visa agent · 4,000+ reviews · 100,000+ expats served