Thai Savings Bank Launches Two New Savings Products
Thailand's Government Savings Bank launches two new savings products starting August 2: a 5-year bond with monthly lottery prizes up to 20 million baht, and a deposit account offering 1.30% annual interest, both targeting savers seeking sec
The Government Savings Bank is introducing two savings products: the Special 5-Year Savings Bond, offering monthly lottery drawings with prizes reaching 20 million baht, and Omsavings Deposit, a new savings account paying monthly interest. Bank director Songpon Cheevapoonyarojn emphasized that savings underpin financial security and support the government's goal of encouraging disciplined, continuous saving. The bank developed these products for people with lump sums seeking value-for-money returns while maintaining capital safety. The Special 5-Year Savings Bond is available in both paper and digital forms at 500 baht per unit, with a 5-year term, minimum purchase of 500 baht (paper) or 1,000 baht (digital). At maturity, customers receive 5 baht per unit, equivalent to 0.20% annual interest, plus 120 lottery draws over the bond's life offering monthly prizes. Interest and prize money for individuals are tax-exempt. Sales begin August 2, 2026, at all GSB branches or via the MyMo app. The Omsavings Deposit requires a minimum opening balance of 100,000 baht for those aged 7 and above, with additional deposits of at least 10,000 baht per transaction and no maximum limit. The three-year term earns 1.30% annual interest, equivalent to 1.52% on fixed deposits, paid monthly without tax. Early withdrawal incurs no interest penalty. Applications open August 2 through October 31, 2026, at all GSB branches nationwide.
