Changes to TMRW Savings account

New interest conditions of TMRW Savings Account effective 1 October 2024 onwards Announced on 26 August 2024
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From 1 October 2024 onwards, the Bank will update the interest rate and conditions of TMRW Savings Account. Customers will receive up to 1.50% p.a. interest paid monthly, per the details below:

  • Get normal interest rate 1.00% p.a. for all balance
  • Get bonus interest 0.50% p.a. for the first 2 million baht when your monthly average balance of the current month is more than or equal to the monthly average balance of the previous month.

    Compare Interest Rate Change

    Monthly Average Balance (THB) Current Interest Rate (p.a.) New Interest Rate (p.a.) 1 Oct 24
    Normal Bonus Total Normal Bonus Total
    0 – 2,000,000 1.30% - 1.30% 1.00% 0.50% 1.50%
    amount more than 2,000,000* 0.25% - 0.25% 1.00% - 1.00%
    *the effective rate is equivalent to 1.50% - 1.00% based on customer’s Monthly Average Balance.

    Additional Conditions

    • Special! For the first month of interest condition change, the Bank will waive the average balance conditions to receive bonus interest for October 2024. Existing customers will receive bonus interest for 31 days and new customers will receive bonus interest based on numbers of days from account opening. Bonus interest is calculated from monthly average balance of October’s and paid to the account on the first business day of November 2024.
    • The bonus interest condition will start from November 2024 onwards; if the monthly average balance of November 2024 is more than or equal to the monthly average balance of October 2024, customers will receive bonus interest, calculated using the monthly average balance of November and will be paid on the first business day of December 2024.

The interest rate, conditions, and personal accident insurance coverage up to 20 times of the deposit amount, maximum 10 million baht, of TMRW Everyday Account will remain the same.

  1. Interest Payment Frequency
    Interest is paid monthly;
    • Normal interest is paid on the last business day of each month.
    • Bonus interest is paid on the first business day of the following month.
      Remark: The Bank will apply effective bonus interest rate per the Bank’s announcement on the 1st business day to calculate bonus interest on monthly average balance of the previous month.

  2. Monthly Average Balance Calculation
    Monthly Average Balance (MAB) is the average of the daily deposit amount in a month.

    Monthly Average Balance (MAB)

    =

    sum of daily ending balance

    number of days in the month*

    *In case of account opening during the month, MAB is calculated from the account opening date until the end of month.

    Example

    Customer opens an account on March 16 for 1,000 Baht, and deposits 2,000 Baht more on March 21, with the total of 3,000 Baht (at the end of the day) and maintain until month end.

    MAB

    =

    (THB 1,000 x 5 days ) + (THB 3,000 x 11 days)

    16 days

    =

    2,375 Baht

  3. Interest Rate Calculation
    The number of days for calculation is 365 days.

    Normal interest

    =

    daily ending balance x normal rate (p.a.) x actual deposit period

    100 x 365

    Bonus interest

    =

    Monthly Average Balance x bonus rate (p.a.) x actual deposit period

    100 x 365

    Example of Interest Rate Calculation

    A customer October’s Monthly Average Balance is 1,000,000 baht and on 1 November, the customer deposits more funds, and total balance is now 2,500,000 baht at the end of the day and remain the same until end of month.

    Interest that customer will receive for November calculated as followed.

    1) Normal interest

    =

    2,500,000 x 1.00 x 30

    100 x 365

    =

    2,054.79 baht (paid on the last business day of November)

    2) Bonus interest

    Calculate Monthly Average Balance

    =

    (2,500,000 x 29) + 2,502,054.79

    30

    =

    2,500,068.49 baht

    ✔ Customer will receive bonus interest since Monthly Average Balance of November’s is more than October’s. Bonus interest is calculated from Monthly Average Balance of November’s.

    Monthly Average Balance (Baht) Bonus Interest Rate (p.a.) Bonus Interest (Baht)
    0 – 2,000,000 0.50%

    =

    2,000,000 x 0.50 x 30

    100 x 365

    =

    821.91
    The amount more than 2,000,000 -

    =

    0

    Bonus interest of 821.91 baht will be paid on the first business day of December.

  4. Term and Other Conditions

    • Customers will receive bonus interest for the first account opening month as a bonus for new account. Bonus interest is calculated based on the number of days from the account opening date until the end of month.
    • Monthly Average Balance is calculated once a month at the end of the month. If account is closed during the month, customer will not get bonus interest.
    • An amount of fund which has been transferred after 10.00 p.m. will be calculated for interest and monthly average balance in the next following day.
    • A withholding tax from deposit interest shall be in accordance with the regulations of the Revenue Department.
    • The deposits are under the protection of the laws regarding the Deposit Protection Agency as per the amount and conditions stipulated therein.

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