Is the interest received from a Super Senior Fixed Deposit account exempted from tax ?
If the interest from all types of fixed savings accounts held by a customer does not exceed 30,000 Baht (in the tax year from January to December), the customer can refund their withholding tax from the Revenue Department per the procedures and conditions of Notification of the Director-General of Revenue Department No.137.
Can I withdraw money before the end of the deposit term? How will I receive the interest?
The principle amount can be partially withdrawn before the deposit due term whereby:
- If the deposit was made less than 3 month prior, no interest is paid
- If the deposit was made at least 3 months prior but has not completed the due term, the bank will pay interest at the rate for a savings deposit account for private individuals, and tax will be deducted
The remaining funds in the Super Senior Fixed Deposit account will continue to accrue interest at the specified
rate on the deposit dates as usual.
If the deposit amount exceeds 3,000,000 Baht, how will the bank take action ?
The Bank reserves the right not to pay interest on the balance in excess of 3,000,000 Baht and/or the right to transfer the most recent deposit balance in excess of 3,000,000 Baht from the Super Senior Fixed Deposit to the linked
savings deposit account or
current deposit account without prior notice to the customer. For interest that the Bank has already paid on a monthly basis, the Bank will deduct it from the deposit balance in excess of 3 million Baht before transferring the excess to the
savings deposit account or
current deposit account.
I’m holding a Senior Protection Deposit account. Do I have to upgrade to a Super Senior Fixed Deposit account ?
Customers holding a Senior Protection Deposit account will receive personal accident protection as with a Super Senior Fixed Deposit account. Just bring your Senior Protection Deposit passbook to upgrade to a Super Senior Fixed Deposit account at any KBank branch nationwide.