National Savings Fund Launches Auto-Debit for Retirement Savings
The National Savings Fund has launched an automatic monthly debit service via its mobile app, letting members save between 100 and 2,500 baht each month and receive up to 100% government matching contributions. The feature aims to help individuals build retirement savings consistently without forgetting deposits, with funds withdrawn on the fifth of each month. Members can manage the service through the app and contact the fund’s hotline for support.
Members can set up the Direct Debit service through the National Savings Fund app on iOS or Android. After logging in, they select the ‘Automatic Monthly Debit’ menu, choose either Kasikornbank or Krung Thai Bank, and enter their account details along with the desired monthly amount between 100 and 2,500 baht. For Kasikornbank, the app redirects to K PLUS to authorize the transaction with a PIN; for Krung Thai Bank, users proceed through the Krung Thai NEXT app to confirm and accept the terms. Once set up, the system deducts the chosen amount on the fifth of each month, moving to the next business day if the fifth falls on a bank holiday. If a deduction fails six consecutive months, the service is automatically cancelled. Members can view their savings status or cancel the debit at any time via the same app menu, although cancelling with Kasikornbank requires a call to its contact centre, while Krung Thai Bank requires a branch visit after in‑app unlinking. The fund encourages members to start saving now to build a secure retirement, with a hotline at 02‑049‑9000, Line @nsf.th, or its website for further assistance.
