BANGKOK, 22nd April 2018 (NNT) - The Government Savings Bank (GSB) has introduced a new savings deposit project to encourage state welfare recipients to strengthen their life security.

According to GSB Director Chatchai Payuhanaveechai, the tax-free savings deposit for users of state welfare cards is among the 10 low wage earner assistance projects approved by the cabinet in January.

Welfare card owners can open deposit accounts at any GSB branches. They are allowed to save at least 100 baht but no more than 1,000 baht each month for five years in exchange for an interest rate of three percent per year. Withdrawals can be made in accordance with the bank's conditions.

The project is expected to attract at least 100,000 state welfare card owners, amounting to around six billion baht in savings.

National News Bureau Of Thailand | GSB issues special savings deposit for state welfare recipients