Government Savings Bank Lottery Scheme

[mynextgig]

I was in Bangkok at the weekend and the topic of the moment is the Government Savings Bank lottery savings scheme.

Looks like a standard bond with scaling interest rate of 1-7.5% over 1-5 years, so not particularly great returns. But it has a lottery system attached to it, where you can win anything from 300b to 75+million baht twice a month depending on the amount invested, the winnings get deposited into your GSB bank account. The savings certificate has a 6 digit number which is then drawn twice a month like the normal state lottery but appears to be a different scheme (i.e. not the main state lottery numbers).

http://www.gsb.or.th/lottery/lottery5.php

The current marketing is offering the chance to win 1 of 20 Mercedes C-Class if you invest before May.

Anyone know anything about this ? Is it a new scheme or just a current marketing promotion ?

Its only open to Thai's, but an interesting concept in saving. The Thai's are going crazy for this at the moment, my friend went to put some money into this last week and the guy standing in front of her was depositing 25 million Baht !!

Edited March 1, 2010 by mynextgig