Finance Ministry to launch Bt50 billion savings bonds

[rooster59]

Finance Ministry to launch Bt50 billion savings bonds

By THE NATION

 

 

The Finance Ministry will raise Bt50 billion from sale of savings bonds to mitigate the Covid-19 impact on the economy and society. The bonds will be on sale from May 14 to June 10 this year.

 

 

Finance Minister Uttama Savanayana said that saving bonds were one of the financial tools to promote investment in safe haven assets and enable people to receive returns on investment when financial markets have risks due to economic fluctuation.

 

“We will sell savings bonds with a limit of Bt50 billion from May 14 to June 10 this year,” he said. “The average interest rate for five-year bonds will be 2.40 per cent a year and 3 per year for 10-year bonds.”

 

Meanwhile, Patricia Mongkhonvanit, director-general of Public Debt Management Office (PDMO), said that the sales of saving bonds will be divided into three periods as follows:

 

In the first period, the office will sell savings bonds to people aged over 60 years with Thai nationality or live in Thailand from May 14 to 20.

 

In the second period from May 21 to 27, the office will sell saving bonds to people with Thai nationality or living in Thailand.

 

In the third period from May 28 to June 10, the office will sell saving bonds to people with Thai nationality or live in Thailand as well as non-profit organisations .

 

“People and non-profit organisations who are interested can buy saving bonds via Bond Direct smartphone application or through four banks, namely Bangkok Bank, Krungthai Bank, Kasikorn Bank and Siam Commercial Bank,” she said.

 

She added that the PDMO had informed banks to adjust subscription methods to comply with government’s measures to prevent the spread of Covid-19 and make sure that investors can conduct transactions safely.

 

“Investors can contact for more information via various channels of banks, including Bond Direct smartphone application,” she added.

 

Source: https://www.nationthailand.com/news/30387579

 

-- © Copyright The Nation Thailand 2020-05-10

 

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[saakura]

Is this good oppurtunity for younger retirees who are now parking their money as fixed deposits in banks and get less than 2% per annum?

[JoePai]

But Tax will be deducted

[worgeordie]

1 hour ago, rooster59 said:

or living in Thailand.

 

Does that mean Farangs ?,and where will the interest rates be

in 3 -10 years ?, nobody knows,can historically low interest rates

continue, it seems like a good deal today,but 5 - 10 years is a long

time to fix your money,does not say when interest will be paid.

regards Worgeordie

 

[smedly]

1 hour ago, rooster59 said:

Finance Ministry to launch Bt50 billion savings bonds

sounds like money is tight or missing

 

50 billion is no where near enough - try 4x that

[sanuk711]

Gosh no....I am getting by OK on my 3% a month long term loans........or my 1% a day short term under 5,000 Bht loans. 

 

The Government has to be a bit more competitive than that........................

[edwinchester]

1 hour ago, sanuk711 said:

Gosh no....I am getting by OK on my 3% a month long term loans........or my 1% a day short term under 5,000 Bht loans. 

 

The Government has to be a bit more competitive than that........................

Your robbing yourself mate. Between 30 to 50% per day here in the village. Borrow 100bht today pay back between 130 and 150bht tomorrow.

[J Town]

Not planning to be alive that long.

[kingstonkid]

What they need to add to this is that

a. It is tax free

b. that it can be part of a retirement plan and the money put in can be a tax deduction

2-3 % does not even cover the cost of living

[CLS]

Even with 10% interest I wouldn’t give money to this crooks.

[CharlieH]

Bickering posts removed