Tax (Withholding TAX) on interest on savings deposits at a Thai bank (reader's submission)
Since I am only 52 and do not yet receive a pension, I live off my savings in Thailand. Now I noticed that 15% tax was withheld from the interest I received and I started looking further.
Hans Bos outlines the experience with the Kasikorn Bank in Hua Hin, Thailand. For years he has kept 800.000 baht in savings in his account to meet Immigration requirements. During a recent check, he discovered that the bank only offered 0,87% interest. In an attempt to get a better return, he visits the Bluport branch. Hans discovers that due to the scattered origins of the money, each part falls under a different interest rate regime.
I have a Thai neighbor (sells everything and has a shop) she now wants to borrow 40.000 baht from me at 3% per month.
Reader question: Interest on savings at Thai banks
In the Netherlands you (almost) no longer receive interest on your savings. How about in Thailand? Does it make sense to transfer my savings to a Thai bank?
Reader question: How to deal with savings in Thai bank account?
Today I saw that the largest Thai banks still give some interest on savings. For example, 1 year fixed between 1 and 1,5% even. We have not achieved that in the Netherlands for a long time.
Reader question: What is a normal interest rate for lending money?
A cousin of my girlfriend wants to borrow money from us (me) to start a business. It is not a large amount (about 50.000 baht). He wants to pay it off monthly. What is a normal interest rate for something like this?
Reader question: At which Thai bank do I get the highest interest?
I am looking for a Thai bank that gives the highest interest for a long-term deposit of 100.000 euros.
What is the interest rate for a loan or mortgage in Thailand?
I would like to know what the interest rate is that the bank charges for a loan or mortgage loan in Thailand. My Thai son has borrowed 1.400.000 Thai Baht over 29 years for the construction of his house in Ranong.
My wife and I would like to deposit a certain amount (1.000.000 THB) in an account with a Thai bank in the future, when we permanently live in Thailand, within a year or so. Can someone tell me which bank gives the most interest?
The EU will end its purchase program at the end of this year, interest rates are likely to rise
The European Central Bank has announced that the support program for the EU will be phased out from September through the purchase of government bonds and corporate bonds and will stop completely on December 31. In the longer term, if the program ends, it means that key interest rates could start rising again.
News from Thailand – January 24
Today in News from Thailand:
• Nok Air puts Playboy bunnies on the calendar to attract passengers
• Strong interest at AFET for 148.940 tonnes of rice
• Demonstration and election news in Bangkok Breaking News
News from Thailand – December 1, 2013
Today in News from Thailand:
• Violence in South reduced this year; 160 days without attacks
• Suvarnabhumi Airport hunts stray dogs
• Hearings about waterworks are against the constitution
News from Thailand – November 29, 2013
Today in News from Thailand:
• Skirmishes between red shirts and demonstrators
• MPC lowers interest rates by 0,25 percentage point
• Thailand talks to the 'wrong' insurgents
News from Thailand – August 22, 2013
News from Thailand brings today:
• Interest rate unchanged; central bank keeps policy rate at 2,5 pc
• Another 332 Thai are evacuated from Egypt
• Blood scandal looming; injection needles used several times
News from Thailand – April 5, 2013
Today in News from Thailand:
• Yingluck does not have to resign; stock market reacts with relief
• Rural doctors are fed up with performance pay
• Ikea finds horsemeat in meatballs Bang Na store
News from Thailand – February 21, 2013
Today in News from Thailand:
• Bank of Thailand does not succumb to government pressure; interest rate unchanged
• Power outage expected in April
• Bangkok Poll: Government Yingluck gets a score of 4,87
Things don't get along between the Yingluck government and the Bank of Thailand. The government has targeted the bank's restrictive interest rate policy, a policy that is internationally appreciated. By strictly regulating interest rates, the bank keeps inflation under control.