3 replies to this topic

[travelerjim]

Bank of Ayudhya advertises 3.85%, 4.00%, 4.25%...???
Looking at the Thai newspaper today - Daily News...
back page of section one...
an ad appears in Thai which appears to be a new offer for cd's...
starting this next week for a limited time..
100,000 baht minimum deposit...

3.85% to 2553 (2 years)
4.00% to 2554 (3 years)
4.25% to 2555 (4 years)...

I do not read Thai ...but that is my best guess at what they are offering.

Indeed, a nice increase from the current offers for cd's...
3% from Bangkok Bank, 100,000 baht and for 2 years.

Maybe someone else can look at the ad...I checked the website and no info on it yet.

http://www.krungsri.com
The Bank of Ayudhya

They have a branch in Pattaya and elsewhere in Thailand.

Hoper this helps those seeking better interest rates in Thailand.

This might coincide ??? with the dropping of the capital controls on March 3rd by the Bank of Thailand ???
and a new rush by banks for deposits..I hope so!

[DollyLamma]

Those rates are certainly better than what's available in most banks, but since last month's Thai inflation rate was reported here at 4.7%, and looks to be going up, I'm not sure how good a deal any of these bank rates are for depositors looking out 4 years. I wish I knew where any money can be safely kept nowadays with a decent return and without risks of loss of capital.

[Hedda]

There's no doubt that the soaring of both the Baht and inflation in the Thai economy, coupled with declining interest rates and rocky stock markets, have made life here in Thailand a lot more expensive than most long-time expats are accustomed to.

You may have seen the recent news article where Thailand's private hospitals rejected an appeal from the new Commerce minister to hold the line on price hikes in services and drugs. The article indicated that the price of private hospital services stated in Bahts had risen 66% in the last five years. Frankly, I think it's been even higher in upper tier hospitals.

Even if you accept that 66% rise as an accurate industry-wide average, and then add the Baht's strengthening from 45 to 32 per $ in the same period, that means that foreigners exchanging dollars have seen private Thai hospital services almost double in the past five years. It's not quite as bad for EU expats, but the curve is hardly positive.

I suspect that the cost of food and energy have risen even more, notwithstanding some creative analysis of "core rates of inflation" by governments. One thing is certain: With the baht strengthening, inflation rising and interest rates fixed or falling, the cost of living for farangs on fixed incomes is on a steep curve going the wrong way.

[Dick]

With the baht strengthening, inflation rising and interest rates fixed or falling, the cost of living for farangs on fixed incomes is on a steep curve going the wrong way.

I wonder if that can also explain the decline in the bar business which seems so apparent when you take a night tour of the bars.