The bonds are meant to encourage Thais to build long-term savings, says Mrs Jindarat.
Government retail bonds dubbed "Aom Plus" (Savings Plus) worth 4 billion baht go on sale at the end of this month, designed to encourage more working-age people to save.According to Jindarat Viriyathavikul, director-general of the Public Debt Management Office (PDMO), the bonds are an initiative of the Finance Ministry meant to encourage Thais to build long-term savings through government bonds. The offering comprises 3-year bonds with a fixed annual interest rate of 1.80% and 10-year bonds with a fixed annual interest rate of 2.80%. Interest is paid every three months.
The bonds are available through two distribution channels, including PDMO Wallet on the Paotang app operated by Krungthai Bank, with an allocation of 2 billion baht. Purchases can be made from 8.30am on July 31 until Aug 31, or until the allocation is fully subscribed, on a first-come, first-served basis.
Each bond is priced at 1 baht per unit, with a minimum purchase of 100 units (100 baht) and a maximum investment of 3 million baht per transaction. There is no limit on the number of transactions, but the total investment per investor is capped at 50 million baht. Purchasers must be Thais aged 15 or older. Those under 20 must obtain consent from a parent or legal guardian.
