Fixed Deposit - Sin K-Ha offers following benefits
Depositors who complete 24 consecutive months of deposits will earned announced interest rate plus 0.50% per annum
Tax-exempt status for a primary Sin K-Ha account only
After successfully completing a 24 monthly Sin K-Ha deposit program, depositor has right to a Sin K-Ha loan up to 80 times the monthly deposit amount at a rate of 0.5% per annum lower than normal loan rates.
Deposit and Withdrawal Conditions
Deposit term of 24 months - must deposit amount for 24 consecutive months
Require equal deposit amount of not less than Bt1,000 per month and a maximum of Bt25,000 per month. No tax-exemption for monthly deposits exceeding Bt25,000
Cheques, drafts or other instruments will be considered as deposits whenever collection of such instruments has been completed.
No withdrawal, partial or full, for the entire deposit term, otherwise account must be closed
After 24-month deposits completed, depositor shall receive 12 month fixed rate as of account opening date plus 0.50 per cent per annum and receive tax exemption.
Deposits of less than three months will not receive interest
Deposits that have not continued consecutively for 24 months will earn savings deposit interest rate as of account opening date with no tax exemption.
If deposit is missed in any month, the Bank will allow a two-month deposit in following month. This exception is only allowable twice in a 24 month term.
If deposit has deposited funds for 24 months and has failed to make a deposit during any two month period, the Bank will pay interest at the12-month fixed rate as of account opening date with no tax exemption at the end of 24 month term.
If deposits are not made for three consecutive months, Bank will close the account and pay interest at savings account rate as of opening date - no tax exemption
After completing 24-month deposits, depositor must close the account within three months, otherwise the Bank will pay interest at saving account rate – no tax exemption.
After completing 24 consecutive monthly deposits , depositor is entitled to a Sin K-Ha loan up to 80 times the monthly deposit amount at a rate of 0.5% per annum lower than normal loan rates. Loan approval depends on the Bank regulations.