THB10 billion step-up bonds sold out in 40 minutes
Savings bonds worth THB10 billion were snapped up in less than an hour after they were launched via the Paotang application at 8.30am on Monday, the Public Debt Management Office (PDMO) said.
Both the five-year and 10-year "Happy Savings” bonds, offering annual interest of 2.90 per cent and 3.60 per cent, respectively, were snapped up in around 40 minutes. The interest will be paid every three months.
The five-year multiple-step-up bonds’ annual interest will increase from 2.50 per cent in the first two years to 3.00 per cent in the third and fourth years, and 3.50 per cent in the fifth year.
The 10-year multiple-step-up bonds' annual interest will increase from 2.50 per cent in the first two years to 3.50 per cent from the third to sixth years, 4.00 per cent in the seventh and eighth years, and 4.50 per cent in the ninth and 10th years.
PDMO director Patricia Mongkhonvanit said the office will offer "Happy Savings" bonds worth THB45 billion via four banks, namely Bangkok Bank, Krungthai Bank, Kasikornbank and Siam Commercial Bank.
She explained that the bonds will be offered in two periods:
June 15-19: Both five-year and 10-year bonds worth THB40 billion will be offered to the general public, subject to a maximum investment of THB10 million per individual.
June 20-30: Bonds worth THB5 billion will be offered to non-profit entities specified by the Finance Ministry. These 10-year bonds have annual interest of 3.30 per cent, while the interest will be paid every six months.
