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calcthai.com · Thailand Deposit Interest Calculator
Money & tax
Thailand Deposit Interest Calculator
Interest on Thai savings and fixed deposit accounts with the 15% withholding tax applied automatically, so you see what actually reaches your account.
Interest by deposit size
| Deposit | Interest before tax | Tax at 15% | You receive |
|---|---|---|---|
| 100,000 | 1,500.00 | Exempt | 1,500.00 |
| 500,000 | 7,500.00 | Exempt | 7,500.00 |
| 1,000,000 | 15,000.00 | Exempt | 15,000.00 |
| 1,500,000 | 22,500.00 | 3,375.00 | 19,125.00 |
| 2,000,000 | 30,000.00 | 4,500.00 | 25,500.00 |
| 5,000,000 | 75,000.00 | 11,250.00 | 63,750.00 |
Ask about this page
The AI assistant answers only questions about the calculator on this page.
The interest rate a Thai bank advertises is before tax. What reaches your account can be 15% lower, depending on the account type and how much interest you earn. The rules have a detail that catches people out: when savings interest passes the exemption threshold, tax is withheld on the entire amount, not just the part above the threshold.
How it works
Savings accounts are exempt from tax provided the combined interest across all your accounts at the same bank stays within 20,000 baht per tax year. That covers most depositors — at 0.5%, reaching 20,000 baht of interest requires a balance of 4 million baht.
The detail to watch most closely. Once interest passes 20,000 baht, the bank withholds 15% on the entire amount, not only on the excess. Earn 20,001 baht and roughly 3,000 baht is withheld; earn 19,999 and nothing is. Because the threshold is counted per bank, people with large deposits commonly spread them across several banks.
A condition many people do not know about. The exemption applies only if you have consented to your bank reporting your interest to the Revenue Department. Without that consent the bank withholds 15% from the first baht, even on small amounts. You can give consent at a branch or through your bank’s app.
This matters particularly for foreign account holders, who are sometimes not asked about it when the account is opened. If tax is being withheld on modest interest, missing consent is the most likely explanation.
Fixed deposits always have 15% withheld, with no exemption threshold, however small the interest. That is the key difference between the two account types, and it means a high-interest savings account can produce a better net return than a fixed deposit at a similar headline rate.
You can reclaim the tax. Withheld tax is not lost. If your income tax rate is below 15%, you can include the interest in your annual return and claim the difference back. Someone in the 5% bracket recovers 10% of the interest — two-thirds of the tax withheld. Calculate before doing it though, since including the interest also raises your taxable income.
Interest against inflation. If your net return after tax is below the inflation rate, the deposit loses purchasing power even as the number in the account rises. Deposits suit emergency reserves and money you need in the near term, rather than long-term wealth building.
Frequently asked questions
My savings interest passed 20,000 baht. How much tax is withheld?
15% of the entire interest, not just the amount above 20,000. Earn 25,000 baht and 3,750 is withheld, not 15% of the 5,000 excess. This is why people with large deposits spread them across several banks — the 20,000 baht threshold is counted per bank.
Why was tax withheld when my interest was under 20,000 baht?
Almost certainly because you have not consented to the bank reporting your interest to the Revenue Department. Without that consent, 15% is withheld from the first baht. You can give consent at a branch or in your banking app, and reclaim the tax already withheld when you file your annual return.
Savings or fixed deposit — which is better?
Compare the net return after tax, because a fixed deposit always has 15% withheld while savings interest may be exempt. A fixed deposit at 2% nets 1.7%, whereas a high-interest savings account at 1.8% that qualifies for the exemption keeps the full 1.8%. Savings also allow withdrawal at any time without losing interest, unlike a fixed deposit broken before maturity.
Can I get the withheld tax back?
Yes, if your income tax rate is below 15%. Include the interest in your annual return and claim the difference. Someone taxed at 5% recovers 10% of the interest, which is two-thirds of what was withheld. Work it through first, since adding the interest also increases your taxable income and may not be worthwhile in every case.
Sources
Rates last verified 25 Aug 2026