The first batch of the government's savings bonds for fiscal 2022 worth 10 billion baht were quickly sold out on the first day of offering on Nov 15, according to the Public Debt Management Office (PDMO) director-general Patricia Mongkhonvanit.
She said the PDMO will offer total savings bonds of 150 billion baht in fiscal 2022, of which 80 billion baht will be up for grabs in the middle of this month and the rest between May and September 2022.
Of the 80 billion baht, bonds worth 10 billion were scheduled to be available during Nov 15-Dec 3 to individual investors on the "Sasom Bond Mung Kung" e-wallet, abbreviated to "Sor Bor Mor" in Thai, on Krungthai Bank's Pao Tang mobile application.
These 10 billion-baht bonds were sold out within 12 minutes after the offering started on Nov 15.
These bonds comprise two types. The first offers a five-year maturity with a step-up average interest rate of 2.1% per year.
The second carries a 10-year maturity and step-up average interest rate of 3%.
Investors can invest a minimum of 100 baht and up to 10 million baht maximum.
Of the remaining 70 billion baht, bonds worth 55 billion baht will be for individual investors and comprise two types. They will be offered during Nov 22-Dec 3 at the counters and the mobile banking apps of Krungthai Bank, Bangkok Bank, Kasikornbank and Siam Commercial Bank.
Investors can invest a minimum of 1,000 baht with no maximum limit.
The first type offers a five-year maturity with a step-up average interest rate of 2.1% per year.
The second one carries a 10-year maturity and step-up average interest rate of 3%.
The remaining 15 billion baht of bonds will be for non-profit organsations specified by the Finance Ministry. The distribution period is during Nov 24-Dec 3.
They will carry a 10-year maturity period with a flat interest rate of 2.20% per year.
They will be on offer only at the counters of the four bank dealers. Investors can invest a minimum of 1,000 baht with no maximum limit.
The bond issuance is to offset the balance budget deficit in fiscal 2022.
