Biz Defined Savings Account

Terms of Service

• It is available to depositors who have a maintaining an average savings balance exceeding 50,000,000 (across all accounts) with the Bank, for a period of 2 years or more.
• It is available to the following types of depositors: general juristic person, funds, and insurance companies.
• The minimum deposit for account opening is 50,000,000 Baht, and each depositor may open only one account.
• Clients must open an account in person at any Thai Credit Bank branch.

Interest Payment

• The Bank pays interest on deposits twice a year, on the 25th of June and December. Interests are calculated based on the balance at the end of each day, up to the 25th of June and December. Depositors will receive the interest, after the deduction of withholding tax (if applicable), on the following day.
• The interest rate for the Biz Defined Savings Account is subject to the Bank's interest rate announcement.

Fees

• A monthly account maintenance fee of 50 Baht will be charged for savings accounts with no transactions for 1 year or more (based on 365 days) and a remaining balance of less than 500 Baht.
• A 100 Baht account closing fee will be charged for savings accounts opened and closed within 1 month.

Thai Juristic Person

• Certificate of Incorporation (issued within the past 3 months);
• A copy of Memorandum of Association and Articles of Association;
• A copy of List of Shareholders;
• A minutes of Board of Directors’ meeting;
• A copy of Taxpayer Identification Card;
• Copies of the national ID card and house registration of the authorized signatory, as well as those of shareholders holding 25% or more, with the seal of the legal entity registered at the Ministry of Commerce.;
• A copy of VAT registration certificate
• A copy of Form BorOrJor. 3 (Registration of Establishment) or BorOrJor. 4 (Amendment Registration) (if any)
   

Remarks:

1.    Closing an account: Accounts can only be closed in person at the branch where the account was opened.
2.    The Bank reserves the right to amend the conditions in accordance with its announcements.
3.    Deposit interest rates, fees, and other services are subject to the Bank's announcements.
4.    The deposit is protected by the Deposit Protection Agency, up to the amount specified by law.