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Published on April 1, 2008

The 24-month time-deposit accounts provide an interest rate of 2.875 per cent per annum and those who deposit instalments on time throughout the period will get an extra payment of 5 per cent of the interest rate. They then will receive an overall annual return of 3.019 per cent, SCIB president and chief executive officer Chaiwat Uthaiwan said yesterday.

The 36-month fixed-deposit accounts offer 2.875 per cent per annum plus extra interest of 6 per cent of the interest rate when depositors make monthly payments on time, he said.

The total annual return for the 36-month time-deposit accounts is 3.049 per cent.

A minimum monthly deposit of Bt500 is required for both accounts. The maximum monthly deposits for the 24- and 36-month fixed-deposit accounts are limited to Bt25,000 and Bt16,500, respectively.

Until April 11, SCIB is also offering a five-month deposit package at 2.65

per cent. A minimum deposit of Bt10,000 is required. The package, however, is subject to 15-per-cent withholding tax.

At the end of the fifth month, if depositors have not instructed the bank to do anything else, it will automatically shift the deposit into a three-month account.

For those who need a shorter time for deposits, they can park money at Tisco Bank's Super Savings account, offering 2.4 per cent per annum. The minimum deposit requirement stands at Bt100,000 and depositors can withdraw money twice a month.

The Nation