The Bank for Agriculture and Agricultural Cooperatives (BAAC) has launched the "Yung Ngern Deposit" to secure the future of youth, offering an interest rate of 0.35% per year, with initial deposits opening on 1 June 2026 GMT+7.
On 27 May 2026 GMT+7, Mr. Paisan Hongthong, Deputy Managing Director of the Bank for Agriculture and Agricultural Cooperatives (BAAC), revealed that to promote family savings and strengthen the financial security of youth and families in the future, BAAC has launched the "Yung Ngern Deposit," a savings product that includes protection for children and youth from birth up to 12 years old.
This product allows parents aged 20 to 65 years to confidently plan savings for their children, receiving a monthly interest rate of 0.35% per year. Individual depositors are exempt from withholding tax on deposit interest and receive full interest payment, along with the following protections:
"Parents receive life accident coverage equal to five times the deposit amount, up to a maximum of 500,000 baht, with no minimum deposit required. Youth account holders receive accident medical expense coverage at 1% of the deposit amount, up to 1,000 baht per incident, provided the account balance remains at least 5,000 baht."
The Yung Ngern Deposit will open for initial deposits from 1 June 2026 to 30 September 2026 or until the bank announces closure. Interested parties can open accounts at any BAAC branch nationwide.