rooster59 Posted May 10, 2020 Share Posted May 10, 2020 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 - Whatever you're going through, the Samaritans are here for you - Follow Thaivisa on LINE for breaking COVID-19 updates 1 Link to comment Share on other sites More sharing options...
saakura Posted May 10, 2020 Share Posted May 10, 2020 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? Link to comment Share on other sites More sharing options...
JoePai Posted May 10, 2020 Share Posted May 10, 2020 But Tax will be deducted Link to comment Share on other sites More sharing options...
worgeordie Posted May 10, 2020 Share Posted May 10, 2020 (edited) 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 Edited May 10, 2020 by worgeordie Link to comment Share on other sites More sharing options...
smedly Posted May 10, 2020 Share Posted May 10, 2020 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 2 Link to comment Share on other sites More sharing options...
sanuk711 Posted May 10, 2020 Share Posted May 10, 2020 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........................ Link to comment Share on other sites More sharing options...
edwinchester Posted May 10, 2020 Share Posted May 10, 2020 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. 2 Link to comment Share on other sites More sharing options...
J Town Posted May 10, 2020 Share Posted May 10, 2020 Not planning to be alive that long. Link to comment Share on other sites More sharing options...
kingstonkid Posted May 10, 2020 Share Posted May 10, 2020 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 Link to comment Share on other sites More sharing options...
CLS Posted May 10, 2020 Share Posted May 10, 2020 Even with 10% interest I wouldn’t give money to this crooks. 1 1 Link to comment Share on other sites More sharing options...
CharlieH Posted May 10, 2020 Share Posted May 10, 2020 Bickering posts removed Link to comment Share on other sites More sharing options...
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