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.
