Thai Government to issue Bt50 bln ( $1.57 bln)Savings Bonds to fund COVID-19 Relief Measures
BANGKOK (NNT) – 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, worth 50 billion baht, next month, aiming to use the funds to finance state projects to ease the impacts of the pandemic.
PDMO Director-General Patricia Mongkhonvanit said on Friday that the interest rates on these PDMO bond tranches reflect the likelihood of higher market rates. 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 organizations at an annual rate of 2.20%.
The special savings bonds are available via the “Sasom Bond Mung Kung” e-wallet, abbreviated to “Sor Bor Mor” in Thai on Krungthai Bank’s Pao Tang mobile app, and through four dealer banks. The minimum purchase of these bonds is 1,000 baht, without no maximum. Interest is paid twice a year.
The special savings bonds, available via e-wallet, total 10 billion baht 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 40 billion baht, 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.
Information and Source
Reporter : Subhabhong Rarueysong
Rewriter : Hugh Brammar
National News Bureau & Public Relations : http://thainews.prd.go.th
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