Bangkok--19 May--Kiatnakin Bank
Kiatnakin Bank, a member of Kiatnakin Phatra Financial Group, has launched “KK Smart Invest,” a new product that combines a savings account with investment to fulfill the financial needs of today’s workforce with a simple investment option that generates higher than expected returns through the expertise of Kiatnakin and Phatra. The product’s story is being told through a viral video clip titled “The Dog,” which tells the story of a man who selflessly sacrificed meatballs to a hungry roadside dog but ended up getting something far bigger in return.
Mr. Aphinant Klewpatinond, President and Chairman of Commercial Banking Business, Kiatnakin Bank Plc., a member of Kiatnakin Phatra Financial Group said, “We are seeing constant growth in the number of white-collar workers. This particular portion of the workforce is now interested in financial planning at a level beyond simple savings, and this has inspired us to create KK Smart Invest, a combination of savings account and fixed income fund. The product is featured in a viral video clip titled “The Dog” (by Ogilvy & Mather Thailand), which tells the story of a man who gave up a stick of meatballs for a hungry roadside dog (Richard, the four-legged star of Thai film Ma-Mha) before receiving in return rewards far beyond his expectations – much like an investment in Kiatnakin Bank’s KK Smart Invest. By simply opening a KK Smart Invest account, the customer can invest and set up their own minimum and maximum balance amounts to match their preferences. Additionally, these balance values can be changed every day by visiting any of the bank’s offices, with changes coming into effect within two working days. KK Smart Invest will monitor the account balance on a daily basis and automatically allocate funds that exceed the maximum amount into Phatra Securities’ Phatra Fixed Income Plus Fund to save time and effort. Should the balance fall below the customer-defined minimum, the bank will automatically order the sale of units to replenish the account balance.”
Phatra Fixed Income Plus Fund (Phatra PLUS) by Phatra Asset Management, a member of Kiatnakin Phatra Financial Group, is a fixed income fund that is linked to this savings-investment product. The fund’s policy calls for investments in government-issued bonds as well as those from private companies with track records of stability, strong returns, and a credit rating of BBB+ or better. The fund has a portfolio duration of no more than 1.5 years and operates in full compliance with the Securities and Exchange Commission’s liquidity ratio regulations. The fund does not invest in derivatives and structured notes.
KK Smart Invest accounts require a minimum initial deposit of 1,000 baht and is targeted at white-collar workers aged 25 and over who are interested in investment methods with higher returns than savings accounts but lacks the time required to keep track of their investment portfolios or the state of the financial market. Interested customers can contact any branch of Kiatnakin Bank for more details, call 02 165 5555, or visit www.kiatnakin.co.th.
“The policy interest rate for the remainder of the year will depend on economic performance. If the turnaround proves to be slow, then it is likely that the policy interest rate will continue to decline. The current policy rate of 1.50% presents a good opportunity for customers to save and invest. KK Smart Invest is a solution jointly crafted with the expertise of Kiatnakin and Phatra to deliver superior financial services under the banner of Kiatnakin Phatra Financial Group,” added Mr. Aphinant.