Thais snap up ‘Let’s Save Together’ govt savings bonds in 12 minutes
The first lot of savings bonds, “Om Pai Duay Kan” (Let’s Save Together), worth 10 billion baht were snapped up within 12 minutes of being released by the Finance Ministry on November 15.
“The ministry said the buyers were between the ages of 15 and 90, and that only 33.5 per cent of them live in the capital. Most of the bond buyers live upcountry,” deputy government spokesperson Ratchada Thanadirek said on Saturday. “This lot was only sold through the Pao Tang application, which proves that Thais are ready for a cashless society.”
The Finance Ministry will launch a second lot of bonds worth 70 billion baht on November 22 from 8am via the Pao Tang application and through four banks – Krungthai, Kasikorn, Siam Commercial and Bangkok Bank.
Eligible buyers must be Thai nationals or permanent residents aged 15 years and above. The minimum purchase amount is 1,000 baht but there is no maximum limit.
The bonds come in three types:
• 5 years with incremental interest: 1.5 per cent in the first year, 2 per cent in the second to the fourth year, and 2.1 per cent in the fifth year.
• 10 years with incremental interest: 2 per cent in first three years, 3 per cent in the fourth and fifth year, 3.5 per cent in sixth to the ninth year and 4 per cent in 10th year.
• 10 years with fixed interest: 2.2 per cent annual interest throughout the holding period.
The last batch of bonds worth 15 billion baht will be sold from November 24 to December 3 via the four banks and will be reserved only for non-profit juristic persons.
Visit www.krungthai.com or call (02) 111 1111 for more information.