The Government Savings Bank (GSB) has launched products tailored for people aged 60 or more, offering relatively high interest rates for savings and a low rate for borrowers. GSB president Chatchai Payuhanaveechai said on Tuesday that the new products would provide financial support for the elderly as the country was turning into an ageing society. A savings account for the elderly offers an annual 1% interest rate, compared with 0.5% for general customers. For loans, clients aged 60-70 years can borrow up to 200,000 baht at 1% monthly interest rate. The interest rate is capped at 6% a year.

Source: Bangkok Post April 04, 2017 08:03 UTC