Bangkok, 22 Oct – Many commercial banks, including Krungsri, have cut interest rates by the same amount as the MPC, which is 0.25%, starting from 1 Nov. However, Bangkok Bank has come up with a strange move, cutting interest rates on loans and deposits by only 0.20%, starting from 24 Oct. 67.

After the Monetary Policy Committee (MPC) on October 16, 2024 resolved to reduce the policy interest rate by 0.25% to 2.25%, both public and private banks have gradually announced interest rate cuts, mostly by 0.25%, starting from November 1, 2024. Only Bangkok Bank has reduced interest rates for both loans and deposits, effective from October 24, 2024.

Mr. Suvarn Tansathit, Senior Executive Vice President, Bangkok Bank Public Company Limited, said that the bank has announced a reduction in interest rates on loans and deposits. The interest rate on loans has been reduced by up to 0.20% for loans. The MLR (Minimum Loan Rate) or the interest rate for prime corporate customers in the form of term loans has been reduced by
0.20% to 6.90% per annum. The MOR (Minimum Overdraft Rate) or the interest rate for prime corporate customers in the form of overdrafts has been reduced by 0.20% to 7.35% per annum. The MRR (Minimum Retail Rate) or the interest rate for prime retail customers has been reduced by 0.05% to 7.00% per annum. Previously, Bangkok Bank had already reduced the MRR interest rate by 0.25% since the end of April to help and alleviate the debt burden and business costs for entrepreneurs in the part of personal customer deposits. Savings deposit interest rates are 0.25-0.30% per year, 3-month fixed deposits are 1.00% per year, 6-month fixed deposits are 1.10% per year, 12-month fixed deposits are 1.45% per year, 24-month fixed deposits are 1.70% per year, and 36-month fixed deposits are 1.75% per year. As for e-Savings deposits, the amount not exceeding 1 million baht is 1.50% per year, and the amount exceeding 1 million baht is 0.45% per year.

Source: Thai News Agencyl