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Thai government to offer B50bn in savings bonds to fund COVID-19 relief measures

Thai government to offer B50bn in savings bonds to fund COVID-19 relief measures

BANGKOK: Thailand’s Public Debt Management Office (PDMO) plans to issue ‘Ying Aom Ying Dai’ (“The more you save, the more you earn”) government savings bonds to the value of B50 billion next month, aiming to use the funds to finance state projects to ease the impacts of the pandemic.

Monday 28 June 2021, 09:44AM


PDMO Director-General Patricia Mongkhonvanit. Photo: NNT

PDMO Director-General Patricia Mongkhonvanit. Photo: NNT

PDMO Director-General Patricia Mongkhonvanit said on Friday (June 25) that the interest rates on the PDMO bond tranches reflect the likelihood of higher market rates, reported state news agency NNT.

PDMO bonds offer an average annual interest rate of 1.80%-1.90% to individual investors, depending on bond terms. The office will also offer the bonds to non-profit organisations at an annual rate of 2.20%.

The special savings bonds are available via the “Sasom Bond Mung Kung” e-wallet, abbreviated to “SorBorMor” in Thai on Krungthai Bank’s Pao Tang mobile app, and through four dealer banks. The minimum purchase of the bonds is B1,000, with no maximum purchase limit. Interest is paid twice a year.

UWC Thailand

The special savings bonds, available via e-wallet, total B10bn with a three-year term, offering a step-up annual interest rate with an average of 1.80%. Eligible investors must be aged 15 or older. The remaining B40bn, from July 12-23, will be distributed through Krungthai Bank, Bangkok Bank, Kasikornbank and Siam Commercial Bank.

Investors can subscribe for bonds at their counters, via internet banking or mobile banking apps.

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Nasa12 | 01 July 2021 - 08:24:19

Government pyramid game. 

 

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