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Government Housing Bank to issue 30B baht of lottery-linked deposit accounts

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Government Housing Bank to issue 30B baht of lottery-linked deposit accounts

Thailand's Government Housing Bank is looking to issue lottery-linked deposit accounts to raise 30 billion baht in October, The Nation reported Sept. 25.

Each deposit account is worth 10 million baht each. The bank will target 3,000 clients by inviting them to open the lottery-linked deposit accounts, said Chatchai Sirilai, the bank's president. The deposits will yield an interest of 1.1% to 1.25% and depositors will have a chance to win prizes.

The bank previously raised 27 billion baht by issuing the first batch of lottery-linked accounts. It will issue a third batch in the first quarter of 2020 to raise 50 billion baht, Sirilai said.

As of Sept. 24, US$1 was equivalent to 30.56 Thai baht.