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Which banks in Thailand offer the best long-term deposit interest rates?

bank interest ratesThailand bankinglong-term depositsexpat financeretirement visasavings accounts
Sep 30, 2024
3 months ago
Sandra **********
ORIGINAL POSTER
Has anyone done research on which banks have the best long term deposit interest rates?
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TLDR : Answer Summary
The discussion revolves around the current banking interest rates for long-term deposits in Thailand. Several banks, including UOB and CIMB Thai, are mentioned, with UOB advertising a 2% promotion and CIMB Thai's Speed D Plus Savings offering 1.88% until the end of December 2024. The conversation highlights general dissatisfaction with interest rates in Thailand compared to other countries and mentions other options for saving, such as government savings banks that offer lottery entries based on deposits. There is a focus on finding the best possible rates due to upcoming financial requirements for retirement visas.
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Sandra **********
ORIGINAL POSTER
We need to drop money for our retirement visa. Because it needs to sit may as well get the best interest rate ..... So no plans to leave Thailand so long term can be 1-5 years
3 months ago
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Gregory ********
What do you classify as long term—you have 32 days,6m,1 year,etc ,etc
3 months ago
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T ****************
Google has
3 months ago
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Jeff ********
Yes
3 months ago
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Bucky ********
if you get the Government loan rate you’re doing great
3 months ago
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Tom ********
Buy Gold
3 months ago
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Brook ********
2% now. It was 2.5%
3 months ago
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Duncanc **********
Russian banks
3 months ago
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Cliff *********
Your bank at home
3 months ago
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Brian *********
Don’t mean to be negative but it’s a joke. I get 5% in my home country so that’s where most of it stays. 👍
3 months ago
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Todd *********
@Brian ********
 I currently get 8% in Mexico on 3-6 month 'GIC's'. There is mandatory tax withholding by the govt for 10% so net gain is 7.2%. Been high interest rates there for many years now
2 months ago
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Ling *****
@Brian ********
 me too.
3 months ago
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Gregory ********
@Brian ********
 is that gross or net return after tax
3 months ago
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Brian *********
@Gregory *******
 its interest so it’s taxable.
3 months ago
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Gregory ********
@Brian ********
 yep —so at about 35% tax—the return is about 3,25% net👍👍
3 months ago
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Brian *********
@Gregory *******
 that is an assessment based on an income level that is MUCH greater than earned interest remotely touches unless someone already has a substantial level of income.

So that’s not accurate. I paid zero taxes on my interest last year.
3 months ago
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Gregory ********
@Brian ********
 well in a way thats bad news—cause you will have to pay tax from 1 jan 2024 on it here in Thailand if you bringing the interest here—furthermore Thai revenue have approved and are gazetting that in future if you live here more than 180 days you will be TAXED ON YOUR WORLDWIDE INCOME—so in future it WILL be taxed
3 months ago
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Brian *********
@Gregory *******
 seems a few wide brush stroke analogies there! The most prominent is earning enough interest to qualify for taxation. Most retirees don’t have that much money to be worrying about Thailand taxes on interest. 🤣
3 months ago
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Gregory ********
@Brian ********
 no prob —post again when you need to register in Thailand—how would you live on thailand if you dont earn enough income🙈🙈🙈🙈
3 months ago
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Ling *****
@Gregory *******
 so what, Thai banks take tax off my interest payments from their accounts too. That brings my real interest to .5%.
3 months ago
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Gregory ********
@Ling ****
 i am not having the conversation with you—@brian
@Gor****
 knows what i am getting at—you no little it seems —why would you bring money here at the current Thai rates🙈🙈🙈
3 months ago
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Ling *****
@Gregory *******
 I don't, I keep my money in Australia where I am receiving 5.5% interest from ING bank. The point I was making is that the Thai savings accounts pay around .75% interest and then they deduct 15% tax off those earnings. It is way more beneficial to keep your savings in your home country bank and transfer over only what you need day to day or when currency rates are in your favour.
3 months ago
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Gregory ********
@Ling ****
 well my point is you guys are all advertising your gross before tax returns—but you need pay tax on the interest so that is not your net return that you receive in your hands—not sure whether they deduct tax at source in Oz or not—but that’s what happens in Thailand—anyway Thai have approved and are in the process of gazetting—in future if you more than 180 days per year—you will be taxed on your WORLD WIDE INCOME—so if you not paying tax there—you will be paying tax on it in Thailand soon after gazetted
3 months ago
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Gregory ********
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Todd *********
At this point, anything close to 2% is great lol. And you are losing to inflation. Not worth it
3 months ago
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Julian *******
I’m getting 1.75% with government savings bank plus entry to their monthly lottery which guarantees, depending on the size of your deposit, a win each month, my winnings so far equate to 4.3%
3 months ago
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Michael ********
@Julian ******
 i only ever get 200 b winnings lol
3 months ago
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Julian *******
@Michael *******
 as I said it depends on the amount of deposit,
3 months ago
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Michael ********
@Julian ******
 i put half a mil in 6 months ago to try it. Will look at figures end of year
3 months ago
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Michael ********
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Taketo *********
Speed D Plus Savings by CIMB Thai have promotion 1.88% from september to 31 dec 2024.
3 months ago
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Tin **********
Kasikorn
3 months ago
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Bob **********
Keep you money at home you won’t get much here
3 months ago
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Limp ********
UOB have promotion right now, 2%
3 months ago
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Richard ********
@Limp *******
 promotion ?!!!
3 months ago
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Limp ********
Yes, it will be 1.5% after.
3 months ago
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Limp ********
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