There are two types of Sinmathaya Subthawee deposit accounts, Sinmathaya Subthawee 1 and Sinmathaya Subthawee 2.
The two types differ in the time they take to mature and the interest paid.
Interest is paid gross without withholding tax.
The monthly deposit must be at least 1,000 Bt and not exceed 25,000 Bt. The total amount must not exceed 600,000 Bt.
To open an account you will need the following documents:
- Your citizen ID card or other government ID with your photo on it
- Passport and work permit (in the case of an expatriate)
- Your tax payer identification card
You need to make your deposit no later than the last working day of the month.
- If you miss more than two deposits, you will lose the tax benefits of this account, but you are still eligible for the interest rate according to terms and conditions.
- If you miss more than four deposits, you will lose the tax benefits of this account and the interest rate will revert to that of the savings rate.
- You are able to close the account only when the deposit matures. If you make a withdrawal prior to the maturity of the account, you will not be eligible for the tax exemption but you still earn the same interest as in a savings account.
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