What types of bank accounts can be used for a retirement visa in Thailand?

Question

Just a quick question... I know that to get a retirement visa, you need a deposit of 800,000 baht in a Thai bank. Banks offer different types of accounts: current, savings, and fixed deposits. Fixed deposits offer better interest rates. Are any of the three types of accounts accepted for this visa? Thanks for every comments

Ask Thailand · Answer

To qualify for a Thai retirement visa, the required 800,000 baht must be held in a Thai bank account in your name. The account should be accessible on the same day, ruling out Certificate of Deposits. While savings accounts are the easiest option, it's clarified that only specific types of fixed deposits may be acceptable, depending on whether the principal is frozen or not. It's advisable to confirm account types with local immigration offices.

Sandy ******** · Answer

How long should the 800k be in your account for to renew a retirement visa?

Brook ******** · Answer

Ask your local immigration office.

If there is no prohibition against a Fixed Deposit Account, shop the different banks in your area.

Interest rates for 1-2 years will vary from 1%-2.5%.

The only penalty for withdrawing before the end of the term is an interest penalty.

Graeme ******* · Answer

Savings is the easiest,  who said fixed deposit  offers better interest rates  in Thailand.

James ******** · Answer

A reminder that this forum does  🚫 NOT allow any mention to use or discussion about the use of a Thai Visa Agent.

Durrell ******** · Answer

Savings is the easiest

Tod ********* · Answer

There are two types of term/fixed deposit accounts and they are viewed differently by the immigration office

One is a term deposit <-  meaning the principal deposit is frozen (you can't access it) for the length of the term, all you can do is access the earned interest. < This type of account CANNOT be used for proof of funds for extensions

Another one is a fixed deposit <- meaning the principle is NOT frozen, and you can access it at any time during the term you have set up, (even if you lose interest or get a penalty) <- This type of account CAN be used for proof of funds for extensions.

David ******* · Answer

Either or.

James ******** · Answer

Must be in a Thai bank account in your name only which is same day accessible. That rules out CDs Certificate of Deposits.

Pete ******* · Answer

Any instant access account.

What types of bank accounts can be used for a retirement visa in Thailand?

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