Biz Defined Savings Account
Benefits and Highlights
- Receive interest that yields higher returns than those of general savings accounts.
- Flexible, unlimited withdrawals per month.
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.
Supporting Document for Account Opening
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.
Product Details
FAQ
Interest paid is subjected to deduct withholding tax in accordance with the applicable law and regulations of the Revenue Department.
You can request withholding tax information from deposit interest or a withholding tax certificate
in person at the branch where the account was opened (authorization is not allowed).
- Notify 1 day in advance before 3:30 PM.
- The branch where the account was opened has no withdrawal limit.
- If other branches, the daily limits per account are: cash withdrawals not exceed 1,000,000 Baht and transfers not exceed 2,000,000 Baht.
Withdrawal by proxy can only be proceeded at the branch where the account was opened.
Change of personal information should be proceeded in person, authorization is not allowed.
Change of Name -Surname; You can request to change your information in person at the branch where the account was opened.
Required Documents:
- National ID card
- Certificate of First Name - Surname Change
- Deposit account passbook
For other cases, such as phone number, address, or email address, you can request to change your information in person at any branch.
Required Documents:
- National ID card
- Deposit account passbook
- If your savings account remains inactive for 1 year or more (calculated as 365 consecutive days), the account will be classified as a Dormant Account. The bank will send a notification letter to the address you provided, advising you to contact the bank to reactivate your account.
- Once your account is classified as a Dormant Account and the balance falls below 500 Baht, a monthly maintenance fee of 50 Baht will be charged. If the fee deductions reduce the balance to 0 Baht, the bank reserves the right to automatically close the account.
- You can request to reactivate your account at any branch.
Proxy case,you can request to reactive account only the branch where the account was opened.
Required documents:
01 National ID card
02 Passbook
The account holder must contact the branch where the account was opened in person. (Authorization is not allowed.)
Required documents:
01 National ID card
02 Police report (an online police report is acceptable)
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