What interest can you expect from a Thai bank account?

Mar 19, 2024
9 months ago
Glen *******
ORIGINAL POSTER
Curious if people get any interest from a Thai bank account?
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TLDR : Answer Summary
Interest rates on Thai bank accounts are generally low, often around 0.5% to 2% before tax, depending on the type of account and bank. Some users report specific rates, with Krungsri offering around 0.9% and some fixed deposits advertised at 5.1% for larger minimum investments. Tax deductions on interest earned can apply, typically at 15%, although registering for a Thai Tax ID may allow waiving this tax. Overall, while there are some opportunities for interest, many users find the returns to be minimal.
Dave **********
Yes,on fixed accounts.
Allan ********
Yes
Paul *******
Yes you do
Phil ********
Yes i do. It's a savings account with Kasikorn.
Josh *********
Thai banks offer many kinds of accounts, over 100 funds and access to a variety of assets, some of which can generate excellent earnings for the astute investor.
Bart **************
Practically, no.
John *********
@Bart *************
just come off fixed rate offer. Bank paid tax
Bart **************
@John ********
yeah that would be much better. I looked into it once but my bank said they don't offer this to foreigners yet. Didn't yet look into possibilities at other banks.
John *********
Bart **************
@John ********
Bangkok Bank?
John *********
Bart **************
@John ********
thanks, will have a look.
John *********
Ron ********
Krungsri recently advertised 6 month CDs at 5.1% for new accounts, at 5 million baht minimum invested. Offer ends March 31st. But I see some folks say you would have to pay tax on that?
Shooter *****
@R**
I saw Krungsri’s advert for USD FD’s at 5.1% last month, but was unaware that they also offer CD’s especially for THB. Where did you see the advert as I would be keen to invest as an existing customer.
George *************
@Ron *******
Since it's a fixed deposit account Krungsri will withhold tax at 15% of interest earned. Can file a Thai Income Tax Return to be refunded if you qualify for a refund.
Ron ********
@George ************
Thanks for the info! Perhaps someone out there can use it to their benefit.
John *********
@Ron *******
maybe bank pay your tax
Ron ********
@John ********
Hmmmm.......that sure would be a new one on me, but its almost as if we are on anther planet here, so ya never know.
John *********
@Ron *******
ask them
Ron ********
@John ********
Not interested. Just stating observations.
Carsten **********
yes, minimaql
David *********
NO , because what you do get is hit by the yearly fee anyhow .
John ********
It's a joke but there's nothing you can do about it 🙄
Jason ******
Give it to isan girl she will take care of it 😫😫
Josh *********
I have lived in an Isan community in Bangkok for almost four decades and have only been treated with generosity and compassion. Why would you want to live in a country where you feel this way about its people?
Brian *********
@Josh ********
I mean this sincerely. If you cannot relate to what was said then you simply have not had the pleasure or actually read because though a tongue in cheek, it’s essentially a cliche. I can’t even imagine how much money farang have been persuaded out of.

What seems odd to me is you’ve been here four decades and this is news to you? 😳
Josh *********
Brian, no Thai has ever done me wrong. Thais return money I drop, keep my belongings safe while I am away for years of lockdown, offer me food and give me shelter when I need it. They have never taken advantage of me. But I avoid Nana and Cowboy.
Glen *******
ORIGINAL POSTER
@Jason *****
I’ll leave it in the US
Jason ******
@Glen ******
lol great idea 💡
Seb ***********
Not much, but better than in the UK
Andi ***********
@Seb **********
Can find UK interest rates better than Thailand's.
Michael *******
SCB Easi Pass pays 2.5% before tax been using it for 3 years - also very user friendly when you need statement and letter for immig there is no passbook and it’s all on line very convenient
Per ************
@Michael ******
SCB have stopped online banking month ago, now you can only use the mobil phone
Michael *******
@Per ***********
maybe they forgot to tell me worked fine yesterday 🤔
Per ************
@Michael ******
with online I mean you can use your PC and that SCB have stopped, at least for me.

I have changed to Kbank, so I can also use my laptop for banking.

But if you're able to use a PC for banking with SCB then I am very much interested to know have you do.
Michael *******
You can only use one app, I had to choose phone over my iPad as I use pay using QR code scan -l guess that when they upgrade their security they will allow multiple online access points.
Per ************
@Michael ******
I use only one app on one mobil phone, but SCB cancelled admittance via www. When they stopped the internet admittance, so I don't understand why you say that they don't stopped the use of a PC to to do banking with them, but it looks that you did not use a PC for banking with SCB
George *************
@Per ***********
Online access to SCB is available from the SCB phone app called SCB Easy.
Michael *******
Nope I have online banking I visit the branch once or twice a year , most important visit is to collect statement and letter for visa renewal which takes 10 mins and B100
Tracy **********
@Michael ******
your visa renewal takes 10 minutes? How?
Kool *******
@Tracy *********
to get the paperwork from the bank. Not the visa renewal itself.
Jeffrey *******
@Michael ******
are you tied to the branch where you opened your account?
Brian *********
Exactly why I went with OA visa first, 5% interest almost pays my rent in Thailand. Also remember the Thai baht value is a moving target.
Man *****
@Brian ********
where do you get 5℅, what kind of account? Does it qualify for the visa extensions? What has the OA visa to do with it?
Brian *********
@Man ****
high interest savings accounts. There are a few in the 4-5% range in the US.

non-O visa : requires 800k baht on deposit in a Thai bank account yielding basically no interest

non-OA visa : allows that money to remain in your home country bank likely allowing a greater percentage of interest AND for what ever reasons a person won’t have to deal with getting their money back out of a Thai bank if things don’t work out

The non-OA is (as I understand it) 1 year + border run ins renewed year and *possibly a third. Beyond this, someone will have to get another visa. Likely a person has concluded if they’re going to stay by this time.

This also as a fringe benefit allows the latitude to keep your money in your absolute control. Thailand isn’t for everyone! Having this amount of time to make decision changes with considerably less financial risk is a good thing.
Tracy **********
@Brian ********
what is that?
Brian *********
@Tracy *********
sorry, what is what?
Bonnie *******
A Thai bank account gets plenty of interest....from Gold diggers
Josh *********
@Bonnie ******
Perhaps you get what you seek :)
Gordon *********
Better than banking in Aus you get Jack shit
Hakan ************
@Gordon ********
ubank. 5%pa.
Ian *******
@Gordon ********
5% per annum in an Australian bank
Gordon *********
@Ian ******
living overseas I can not open a long term account talking of my experience with my bank in Aus
Detlef ***********
@Gordon ********
sorry but that info is totally incorrect ! I sujest you do your homework 👍
Kool *******
@Gordon ********
I only get interest on just one of my four accounts at two different banks
Gordon *********
@Kool ******
I use Bangkok bank I find them OK small amount of interest covers bank charges
Kool *******
@Gordon ********
three of my accounts are with them...hehe.
Francesco **********
yes u get it but really peanuts…
Kool *******
I get interest on one of my accounts with Bangkok Bank, at a little above 2%
John *********
@Kool ******
just got1-6 on my fixed account today.
Kool *******
@John ********
I got mine in January, and just below 2%. Damn, I put above in my comment. It should have been a little below...lolol
Frank **********
Enough for a couple of cups of coffee.
Alfredo ******
Many apps let you buy investment funds, so your money can gain interests...

You must hold a work permit though.
Peter **********
@Alfredo *****
Can you repeat that? Must hold a work permit to buy in investment funds?
Alfredo ******
@Peter *********
I have a kasikorn bank account.

I asked if I could buy some mutual funds and they said I had to open a special account for that operation, a sort of investment account.

In order to open this investment account they asked me to show my work permit.

Now I am able to buy different financial product just using the mobile app.
Phil ******
@Glen ******
insignificant
Onne ***********
month 5/month 12
Paul ******
Yes
Cliff *********
Not in the conventional sense.

But it allows you to live much more easily in Thailand and do banking when you are back home……
Jeffrey ************
You pay tax on minimal interest.
George *************
Registering your Thai Tax ID with SCB can result in the bank waiving the tax withheld on interest earned on regular savings accounts.
John *********
@Jeffrey ***********
can claim tax back
Peter *******
Krungsri 0.9% then tax deducted
Robert **********
@Peter ******
if you can get a tax ID and give the number to them, they will stop deducting the tax. I think the tax is 15%, and it’s possible to file a tax return each year and get the money back, but the process is very cumbersome.
Sean **********
@Peter ******
depends on which savings account you deposit in
Peter *******
@Sean *********
Obviously, they have loads of accounts like every bank
Warren *********
0.5 percent im told.
Mark *********
Always try to keep my balance above 800,000 and no more than 1,000,000 my last interest payment was 2,400 b/- better than a kick in the head.
Bob **********
@Mark ********
if you left it home I’m sure those would have been $dollars
Aake **********
@Mark ********
i get 1,6 %
Jo **********
@Mark ********
why not more than 1,000,000
Mark *********
Just my way of limiting the amount I have here, in case I have to return to the UK. Plus, i get more interest in the UK.
Glen *******
ORIGINAL POSTER
@Mark ********
not much better
Thomas *******
@Glen ******
is there any way to keep your 800K in Thailand for visa purpose and still get a decent interest rate?
Michael *******
@Thomas ******
SCB Easi Pass pays 2.5% before tax
Sean **********
@Thomas ******
not that I have found.

Krungsri had a promo paying 5% on a FCD foreign currency deposit USD to be specific of $50,000. And must be maintained for six months. it has been explained to me that because it’s a time deposit it does not qualify for the 800,000 deposit for Visa
Chris ***********
Steve *******
None worth worrying about
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