Bangkok--11 Jun--Standard Chartered Bank Standard Chartered Bank (Thai) Plc. launches “Australian Dollar” foreign currency account, available in both savings and term deposit, offering higher interest rates and an opportunity to gain profit from exchange rate. Ms. Auraratana Jutimitta, General Manager, Consumer Transaction Banking and Wealth Management, Standard Chartered Bank (Thai) said the Australian Dollar deposit account is a new option for depositors who are looking for more choices to manage their savings and earn greater returns. Foreign currency deposit is not new in Thai market and it has growth potential. In 2007, foreign currency deposit accounted for only US$2,575 million or 2% of total deposit in the market. In the past, foreign currency account has not been attractive to individual depositors partly because of low interest rates offered when compared to FX risks involved. Moreover, the bid/offer spread that customers have to pay when making and withdrawing deposits is slightly high. To overcome the previous flaws, Standard Chartered Bank (Thai) today launched “Australian Dollar” deposit account with benefits that respond to customer’s demand. - Maximum 6.5% p.a. interest rates - Choices of savings account or 3-month fixed term deposit - Potential FX gains without tax surcharge. - Preferential exchange rates, better than counter rate. - No passbook needed. Statement will be sent to customers. “The Australian Dollar deposit account targets those individual looking for greater returns in financial planning, parents of students who study in Australia, and customers who have business dealings in Australian Dollar such as exporter-importer”, Ms Auraratana said. The “Australian Dollar” foreign currency deposits are available in savings account and 3-month fixed term deposit. The savings account offers 5% p.a. interest rates with minimum opening balance of AUD2,000, no account maintenance fee and can be withdrawn any time in Baht currency. The 3-month fixed term deposit offers 6.5% p.a. interest rates with minimum opening balance of AUD10,000, no account maintenance fee and at maturity the customer can withdraw the sum in Thai Baht with two-days advance notice, or transfer the sum into Australian Dollar savings account, which can be withdrawn whenever the customer is satisfied with the exchange rates. For more information please contact Standard Chartered Bank (Thai) or call 1595. Sample for Australian Dollar deposit account and approximate returns (for reference only) For further information please contact Standard Chartered Bank (Thai), Corporate Affairs. Supattra Wetchasart tel: 02 724 8022 [email protected] Saowarop Panyacheewin tel: 02 724 8025 [email protected]