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The move would also complement the government's policy of issuing savings bonds, which pull interest rates up by 4 percentage points, he said.

Tax law stipulates the government does not collect tax from bank savings accounts with balances under Bt20,000. But in practice, banks usually withhold the 15-per-cent tax, and depositors can seek a refund from the Revenue Department later.

The new rate would not apply to bonds or time-deposit accounts.