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Thread: Thai banks interest rates

  1. #1
    Senior Member geir's Avatar
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    Thai banks interest rates

    I just went to pay for my loan on the house today and the interest rate had gone up to 6,45%. When I bought the house 2 years ago the rate was 4,25%.
    If the trend keeps on, I guess I have to cash it out earlier than the plan.
    The good thing is that I bought the house for 1 mil, an it's now worth 1,5-1,8 mil Baht.
    Does anyone else have a house loan in Thailand, and what is your interest rate???

    BTW we use a bank called GHB, Government Housing Bank
    Last edited by geir; 6th May 2014 at 22:29.
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    Senior Member marc26's Avatar
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    what were your terms?

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    Senior Member geir's Avatar
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    20 years, but I can cash parts or all of it out after 2 years..........
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    Senior Member Stillearly's Avatar
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    Seems strange , the BOT policy rate has fallen from 3.00 to 2.00 over the last two years ...
    'If it floats, flies or fcuks , it's cheaper to rent"

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    Senior Member geir's Avatar
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    Talked to a Thai girl the other day and she pay 7% interest on her house loan in SCB........Back in Noggieland we only pay 2-3%
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    Quote Originally Posted by geir View Post
    Talked to a Thai girl the other day and she pay 7% interest on her house loan in SCB........Back in Noggieland we only pay 2-3%
    Thai banks payer higher interest on deposits though.

  7. #7
    K2
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    Daily Interest Rates of Commercial Banks

    BOT has encouraged banks to nudge up mortgage rates to cool excessive housing market price rises.

    You have the a good deal with the GHB compared to the other private lenders.
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  8. #8
    Senior Member nelsonone's Avatar
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    Quote Originally Posted by LoneRanger View Post
    Thai banks payer higher interest on deposits though.

    really??.....I get a 0.5% pa return on my cash here with Kassikorn...they have offered me 1.25% if I fix for a year...but I only keep an average of a million baht a year in there so I can't be arsed for the bother of mucking about...particularly with the immigration rules of seasoning
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    Quote Originally Posted by nelsonone View Post
    really??.....I get a 0.5% pa return on my cash here with Kassikorn...they have offered me 1.25% if I fix for a year...but I only keep an average of a million baht a year in there so I can't be arsed for the bother of mucking about...particularly with the immigration rules of seasoning
    If you shop around Nels. I get 3.15% with SCB but that is min THB 1 million for 6 months. After the initial 6 months its almost like a normal account if you manage your money accordingly.

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    I will not keep any real money on my thai accounts. I have been stolen from, been to court, (2 year process, not free..) Not refunded one B. My case was a CC fraud. Happened outside Thailand. I could prove i was in the country when this happened etc.
    The verdict said i could have collaborated with CC fraudsters to make a claim. This has not been followed up by the police so far..

    I just heard a colleague of mine was lifted a couple of 100K from his account. Just disappeared. Most likely an internal job. No refund in sight. No explanation given.
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  11. #11
    K2
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    ^ Agree - keeping significant amounts in Thai banks beyond living expenses I dont feel happy about either. Too little by way of customer service/recourse if anything does go wrong.
    Its My Life .....!

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    Super Moderator LivinLOS's Avatar
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    I could list at least 5 people who have had money taken from accounts over the years.. None ever got it back, the police wouldnt file charges, the bank wouldnt provide information, they simply got stonewalled and lost it.

    So agree.. Any real amounts in a secure account without ATM.

    I personally keep 3, one for a small lump which is my visa showing money also no ATM, another for casual use with a ATM card, and lastly a household bills account which gets money put in monthly, which all my direct debits, automatic payments, rent and car bills etc come out of. This way should I move house and struggle to turn off services, that account can simply be emptied and the phone or electric company cant take what isnt there. Another good trick is to put the 'household account' in a GF's name if your in a relationship, and should you ever need to get her a visa, you now have a bank account in her name showing money in and money out monthly and a history of use but dont need to be giving her the money.

  13. #13
    Senior Member geir's Avatar
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    Another thing, I'm only using ATMs inside Tesco Lotus or outside proper banks. I Never use dodgy ones in quiet places or outside 7/11s.

    And agree on putting "real" money in accounts with no cards.................
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    Quote Originally Posted by geir View Post
    Another thing, I'm only using ATMs inside Tesco Lotus or outside proper banks. I Never use dodgy ones in quiet places or outside 7/11s.

    And agree on putting "real" money in accounts with no cards.................
    I also agree, the account I have from SCB that gives the higher interest rate has no ATM or internet access. I keep a smaller amount in a normal account for day to day expenses. It would scare me to keep a large sum in an easy access Thai account.

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