BAAC launches 3 temple deposit products with up to 1% interest

MGR Online•Economy•9d ago

Reader Briefing

The Bank for Agriculture and Agricultural Cooperatives (BAAC) has introduced three special deposit products for temples, religious sites, clergy, and associated individuals to enhance financial management and savings.

•BAAC has launched three new deposit products named 'Bun Samphan' specifically for temples, religious institutions, and related personnel.
•These products aim to support the efficient management of religious assets and promote savings among religious staff.
•Interest rates offered range from 0.25% to a maximum of 1% per year, with tiered rates based on deposit balance.
•The special deposit products are available from the launch date until July 31, 2026.

Overview

•BAAC announced the launch of three special deposit products for temples, religious sites, clergy, and related individuals in order to support religious site financial management and savings.
•The 'Bun Samphan' deposit products are available for opening from the announcement date until July 31, 2026.
•Interest rates for the 'Bun Samphan' deposits vary, with the highest rate of 1% per year offered for balances exceeding 1 million Baht.
•The 'Bun Samphan Plus (9 months)' product offers an immediate fixed interest rate of 1% per year, paid upfront.
•The 'Bun Samphan (Paak Bun)' deposit for non-profit institutions like temples offers 0.50% annual interest, compounded twice yearly in March and September.
•Temples and religious institutions can benefit from improved cash flow management with unlimited deposits and withdrawals on the 'Bun Samphan (Paak Bun)' account.
•Individuals eligible for 'Bun Samphan Plus (9 months)' include abbots, treasurers, and temple committee members holding a certificate from the abbot.
•The initiative aims to support the efficient management of religious properties and encourage savings for personnel within the Buddhist religious framework.

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Key Entities

Organization

Bank for Agriculture and Agricultural Cooperatives (BAAC)(ธ.ก.ส.)ℹ️

The financial institution that launched three special deposit products for religious organizations and individuals.

Person

Paisan Hongthong(นายไพศาล หงษ์ทอง)

The Deputy Managing Director of the Bank for Agriculture and Agricultural Cooperatives (BAAC) who disclosed information about the new deposit products.

Law

Bun Samphan (Paak Bun) Deposit(เงินฝากบุญสัมพันธ์ (ผูกบุญ))

A non-profit deposit product for temples and religious institutions offering 0.50% annual interest and QR D (e-Donation) service integration.

QR Thum Dee (e-Donation)(QR ธรรม D (e-Donation))

An e-donation service for temples and religious sites that is a requirement for opening the 'Bun Samphan (Paak Bun)' deposit.

Bun Samphan Deposit(เงินฝากบุญสัมพันธ์)

A deposit product for temples and religious institutions with tiered interest rates, providing returns designed for long-term savings.

Bun Samphan Plus (9 months) Deposit(เงินฝากบุญสัมพันธ์ Plus (9 เดือน))

A 9-month short-term deposit product for individuals such as abbots, treasurers, and temple committee members, offering an immediate 1% annual interest rate.