Public deposits at GSB have returned to normal

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BANGKOK, 2 April 2014 – Mr. Tachapol Kanjanakul, Acting President of the Government Savings Bank (GSB), revealed that public savings at the bank’s branches have returned to normal, thanks to the bank’s new saving schemes. 

The schemes include the introduction of attractive interest rate of 2.15% for a 4-month special current deposit and 3% interest rate for an 11-month saving scheme. The measures have attracted numerous customers, bringing back public deposits to the range of 2-3 billion baht daily compared to 1.2-1.5 billion baht a day recently.

Mr. Tachapol said the bank has lowered its deposit rate by 0.13 – 0.5% to reflect the latest policy set by the Monetary Policy Office since March 20th. He said however that the rate is relatively higher than that of other banks as the GSB’s main policy is to encourage savings.

At present, the bank’s interest rate is 0.5% for current account, 1.3 to 1.6% for a 3-month saving account, 2.1-2.25% for a 6-month saving account, 2.1-3% for a 12-month account and 2.25-2.75% for a 24-month-plus account. Mr. Tachapol added that the bank is contemplating whether or not to adjust the rate for lending.