Thanachart Bank launches ‘Ultra Savings Account’ at 1.6% interest per annum

Calculated on a daily basis, the interest will be paid every month for deposits of at least Bt20,000 but no more than Bt50 million. Depositors can also make withdrawals twice a month free of charge. 
Komchalat Piteeprom, senior director of the bank’s deposit and unit trust product development division, said: “The Ultra Savings Account become popular among consumers as it incorporates the strong feature of savings deposits in terms of flexibility as well as the strong feature of fixed deposits in terms of high interest rates. The objective of the campaign is to encourage members of the public to grow their savings. Depositors can withdraw cash twice monthly free of charge, after which a service fee of Bt50 will be charged for each withdrawal.
“One of Ultra Savings’ key customer groups includes working people who want to start saving or have excess cash. They not only get a good rate of return but can also avoid high-risk or complex investments. It also serves as the first milestone for growing their savings. Ultra Savings also offers flexibility as depositors can withdraw cash in case of emergency with no impact on the interest. Another key group includes SME operators and business owners who are looking for a deposit product which not only offers a higher interest rate than the conventional savings account, but also gives a higher level of liquidity than fixed deposits. The product provides depositors with the power to better manage their cash in line with the changing business environment.”