Thailand’s Top User-Friendly Banks for Young Adults

There is a certain thrill in opening your first bank account, but choosing the right bank can be a hassle. Fortunately, with everything going digital in recent years, now you can make payments with the tap of your smartphone. 

Although we are still waiting for our first all-digital bank to launch in Thailand, our traditional banks have adapted to our digital lifestyle by providing online banking apps that offer convenience, speed, and security. 

No more physical passbooks! If you're interested in opening a savings or deposit account in Bangkok in 2024, here are the top banks you can consider.

Kasikorn Bank

Kasikorn Bank, also known as K Bank, was initially established as Thai Farmers Bank in 1945. Today, it is considered one of the largest and most popular banks in Thailand, catering to both locals and foreigners. Today, it comes with a reputation for offering top-notch financial services and digital banking solutions.

To open a basic savings account with K Bank, you don't have to make any minimum deposit. You will receive a K-Debit Card (for THB150) with an annual fee of THB250 per card. This account is eligible for credits twice a year, in June and December. If you have an account with K Bank, you can quickly apply for a K-Bank PLATINUM credit card and a personal loan of up to THB1.5 million. 

Download the K-Bank app to enjoy various digital banking services, including money transfers, QR code payments, cardless withdrawals, and bill payments for your credit card and utility bills.

How/where to sign up:  Simply walk into any K-Bank branch with your Thai ID or Passport. 

Interest Rate for Credit Card: 16% per annum with an annual fee of THB1,050  

Other features: No additional fees, No minimum deposits 

Bangkok Bank

Bangkok Bank is the go-to bank for anyone looking for international banking services. Established in 1999, it is one of the top providers of corporate finance with the biggest retail customer base in the country.

You can easily sign up for an e-savings account from the comfort of your home without any account opening fees. Alternatively, you can simply head to any of their branches and open a savings account that comes with a Be1st Smart Card. With this card, you can conveniently make cash deposits and withdrawals, and your account will receive interest every six months.

How/where to sign up:  Download the Bangkok Bank app on Apple Store or Google Play or simply head to any branch to open an account.

Interest rate for Credit Card: 16% per annum, minimum THB1,500 annual fees for credit card

*Contact bank for an interest rate of 0%* per month for a 6-month installment plan 

Other features: THB500 to open a savings account

Siam Commercial Bank

Siam Commercial Bank (SCB) is the first bank ever established in Thailand, through a royal charter in 1907. With over 110 years of experience, SCB is a leading universal bank that offers exceptional financial services with a wide range of products and services.

You can easily visit any branch and open a general savings account that includes a debit card for THB100, with annual fees of THB200 that comes with an old-school passbook. Additionally, you can apply for a personal loan up to THB3 million with no need for personal guarantors. 

How/where to sign up: Find the nearest branch and open your savings account at the bank. Download the SCB Easy App (Apple Store or Google Play) for mobile banking services. 

Interest Rate of Credit Card: 16% per annum

Other features: Minimum deposit of THB500

United Overseas Bank (Thai) Public Company Limited

United Overseas Bank Limited (UOB) was established in 1935 with a commitment to providing quality products and exceptional customer service. With a global presence of 500 offices across the world, UOB is user-friendly for both locals and expats. UOB Thailand is a regional bank that strives to bring connectivity to its customers.

Recently, UOB acquired Citibank in 2022, and all Citi-branded products have been migrated to UOB products. If you're a newbie, you can easily open a TMRW Savings account by downloading the app and enjoy an attractive interest rate of 1.3% per annum with no minimum initial amount. UOB is popular for its diverse range of credit cards, catering to different interests. From its UOB Royal Orchid Plus Credit Card, popular amongst travelers, to the UOB Premier Card for Shopping, you can choose the one that best suits your needs.

How/where to sign up: Find the nearest UOB branch and open your savings account at the bank or download the app via Apple Store or Google Play.

Interest Rate of Credit Card: Depends on the type of card

Other features: No Minimum amount required 

KrungThai Bank 

Krungthai Bank Public Company Limited is a state-owned bank that was founded in 1966 under a license issued by the Ministry of Finance. Over the years, the bank has evolved from being just a convenience bank to embracing the concept of “Growing Together for Sustainability.”

Opening a savings account with Krungthai Bank is a hassle-free process. You can simply download the bank's app, follow the steps, and verify your identity via NDID or the nearest KrungThai ATM. Alternatively, you can visit one of their branches and make a required deposit of THB500 if you prefer the traditional way of doing things.

How/where to sign up:  Download the app via Apple Store or Google Play or visit the nearest branch. 

Interested Rate of Credit Card: Depends on the type of card

Other features: KTB Visa Debit Card requires THB200 annual fees with a deposit interest rate of 1.5% per annum