The Government Savings Bank (GSB) was established in 1907 by royal command of King Rama VI to introduce the savings institution concept to the country. A model savings bank was set up in the Chitrlada Palace. The Government Savings Bank was later opened based on the royal concept.
The Government Savings Bank's business is conducted in three areas: providing savings deposit service which included Government Savings Bank Lottery service, and life and family welfare savings, providing financial services to customers, and engaging in private investment for profit-making.