Most Thais lack six-month emergency savings, BOT says

2026-02-27 - 11:23

BANGKOK, 26 February 2026 — Bank of Thailand said 77.3% of Thais have emergency savings covering less than six months, while more than 86% have not planned for retirement or are unable to follow through with their plans. In its 2024 report, the central bank said overall financial literacy among Thais has improved steadily and is above the OECD average. However, many people still lack understanding of interest and compound interest. Although 91.5% of respondents reported saving money, most do not have sufficient emergency funds, reflecting irregular or inadequate long-term savings. The BOT said emergency savings are a key foundation for long-term financial security, helping households manage debt during income shocks and increasing the likelihood of achieving retirement goals. Use of basic financial services, particularly deposits and money transfers, has increased. However, take-up of other products such as credit cards, insurance and investments remains low and is declining. Credit usage has also fallen across all occupational groups, partly due to tighter lending standards amid economic conditions. The findings underscore a structural gap between saving behaviour and long-term financial preparedness, despite improvements in financial knowledge.