Bangkok: Government Savings Bank (GSB) launched "Maha Heng Deposit," a high-interest deposit offering 0.50% interest, helping small business owners automatically convert their sales into savings. Mr. Songpol Cheevapanyaroj, Director of the Government Savings Bank, announced this initiative aimed at fostering financial discipline among small business owners.

According to Thai News Agency, the "GSB Maha Heng" deposit account is designed to address the financial management challenges faced by small vendors who typically rely on a single payment account via the GSB Maha Heng merchant app. The innovative deposit account automatically transfers sales revenue into a deposit account, facilitating daily savings and allowing for efficient allocation of funds for business expenses. Customers benefit from a tax-free interest rate of 0.50% per year, with both principal and interest fully secured by the government as mandated by law.

The "Government Savings Bank Maha Heng" account is tailored for individuals using the GSB Maha Heng merchant app for payment transactions. Daily sales are automatically deposited into the account, with a minimum deposit requirement of 1 baht per transaction and no maximum limit. Initial account setup can be completed at a branch, while subsequent deposits are handled through the app's automatic deposit feature. The account offers the convenience of standard banking transactions, such as money transfers and withdrawals, and maintains its competitive interest rate until December 31, 2026. Post this period, interest rates will be subject to bank announcements, and the account remains tax-exempt.

For more information, interested parties can visit any Government Savings Bank branch, the bank's official website at www.gsb.or.th, or contact the GSB Contact Center at 1115.