RETAIL BANKING | Tony Chua, Thailand

Thailand names Krung Thai Bank as $1.7bn savings bonds sole distributor

Minimum investment for the bonds is $33.39 while the maximum is $33,392.

The Finance Ministry is offering 3.75 per cent per annum for its 3-year savings bonds worth Bt50 billion, which would be sold through Krung Thai Bank's network during September 12-30.

The rate is based on the 3-year government bond yield, plus 15 per cent gain, according to Apisak Tantivorawong, president of Krung Thai Bank.

It will be the first time that the interested can subscribe to the bonds through the bank's ATM network. Minimum investment is Bt1,000 ($33.39) and maximum is Bt1 million ($33,392).

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