Savings Bank Launches Auto-Savings Account for Small Traders
The Government Savings Bank launched the "Maha Heng" savings account, which automatically transfers daily merchant sales into dedicated savings at 0.50% annual interest, helping small business owners build financial reserves without tax lia
The Government Savings Bank has launched the "Maha Heng" savings account, a 0.50% annual interest product designed to help small merchants automatically convert daily sales into savings through the bank's merchant app. According to Songpol Cheevapathanasorn, director of the Government Savings Bank, the initiative promotes financial discipline among small business operators who struggle to allocate funds when using a single payment account through the merchant app.
The innovative deposit account automatically transfers daily sales into a dedicated savings account, fostering daily savings habits and enabling business owners to easily set aside reserves for operating expenses such as rent, utilities, and electricity. The account offers a 0.50% annual interest rate with no tax liability, and both principal and interest are fully guaranteed by the government under law. This tool helps traders accumulate savings gradually to build long-term financial security.
The Maha Heng account is a savings deposit account for individuals using the Government Savings Bank merchant app to process payments. The system automatically transfers daily sales into the account in predetermined amounts, with one account per person. Deposits can start from as little as one baht per transaction with no maximum deposit limit. Account opening is available at all bank branches, with subsequent transactions conducted through the merchant app. The 0.50% interest rate is valid until December 31, 2025, after which rates will follow bank announcements. Interested parties can inquire at any Government Savings Bank branch nationwide, the official website at www.gsb.or.th, or GSB Contact Center at 1115.
