[3] King Vajiravudh (Rama VI) introduced a means to save money in Thailand in 1913.

His purpose was to introduce Thai people to banking services and to promote a habit of thrift and saving.

King Vajiravudh issued an act, effective 1 April 1913, to formally set up a "Savings Office" which began its operations under the Royal Treasury.

In 1929, in a period of economic depression, King Rama VII permitted the transfer of the bank to the Post and Telegraph Department of the Ministry of Commerce and Transportation(Currently using the name Office of The National Broadcasting and Telecommunications Commission) to make it more convenient for citizens.

GSB is now a juristic person and state enterprise operating as a financial institution guaranteed by the government under the supervision of the Ministry of Finance.