PDMO readies 2nd batch of 1-baht savings bonds
The Public Debt Management Office (PDMO) is set to allocate the second batch of the one-baht face value savings bonds after the first lot sold out.
The imminent tranche will be offered to general investors through Krungthai Bank's e-wallet, the same as the previous lot, said Patricia Mongkhonvanit, director-general of PDMO.
With the e-wallet, people, particularly the younger generation and the elderly, can more easily access the distribution channel, she said.
PDMO last month issued the novel one-baht savings bonds worth 200 million baht to retail investors and the entire batch sold out in less than two minutes.
Those aged 25 to 39 subscribed the biggest slice, followed by the 50-59 age range, whose subscription amount per person was the highest of any group. The oldest subscriber is 83.
The three-year bonds carry a coupon rate of 1.70% with a semi-annual interest payment. The minimum subscription is set at 100 baht per investor, with investment capped at 500,000 baht.
Apart from the face value of one baht, the savings bonds were the first allocated via a blockchain-based e-wallet system.
The savings bond subscribers live across the country, with exception of Nakhon Sawan province, reflecting accessibility. Those living in Bangkok accounted for 44% of the total subscribers.
Mrs Patricia said PDMO will continue to offer the savings bonds through e-wallet as the channel is accessible for all walks of life and those living nationwide.
However, banks' branches would remain another distribution channel for the savings bonds which will be sold in the future as some people still want to hold paper-based bond certificates, she said.
PDMO has already prepared a trading platform for the first lot of one-baht savings bonds, as they are allowed to trade on the secondary market in six months, said Mrs Patricia.