Bangkok, 22 Oct. – SME D Bank has reduced its loan interest rate by up to 0.25%, aiming to reduce the burden on SMEs, effective 1 Nov. 2024, while also providing low-interest loans to elevate businesses to sustainable growth.
SME D Bank responds to the government and BOT policies by announcing a reduction in the lending interest rate by up to 0.25% per annum, effective from November 1, 2024 onwards, to help ease the burden on Thai SME entrepreneurs. At the same time, it has fixed the deposit interest rate, creating opportunities for juristic persons, institutions, government agencies, and the private sector to have an alternative source of stable and secure high-yield deposits. It also offers special low-interest loans at only 3% per annum, fixed for the first 3 years, supporting the elevation to a green business, moving forward with strong and sustainable growth.
Mr. Pichit Mitrawong, Managing Director of the Small and Medium Enterprise Development Bank of Thailand (SME D Bank), said that SME D Bank has re
duced the interest rate of the loan by up to 0.25% per year, consisting of the type of loan for good retail customers (Minimum Retail Rate: MRR) reduced by 0.25% per year from 8.05% per year to 7.80% per year, the type of overdraft (Minimum Overdraft Rate: MOR) reduced by 0.25% per year from 8.05% per year to 7.80% per year, and the type of minimum loan (Minimum Loan Rate: MLR) reduced by 0.10% from 7.50% per year to 7.40% per year, effective from November 1, 2024 onwards, to help reduce the burden on Thai SME entrepreneurs, as well as help stimulate the domestic economy, in line with the government’s policy. And the Bank of Thailand (BOT), through the Monetary Policy Committee (MPC), resolved on October 16, 2024 to reduce the policy interest rate from 2.50% per year to 2.25% per year to help alleviate the debt burden of the public and the business sector.
Meanwhile, SME D Bank will also hold the deposit interest rate for as long as possible to create opportunities for agencies, organizations, juristic perso
ns, institutions, government agencies, state enterprises, and private sectors to have alternatives to find sources of high-yield deposits that are highly secure and stable.
Mr. Pichit added that in addition to the interest rate reduction, the bank is also ready to provide special low-interest loans to help SME entrepreneurs reduce their burden, have sufficient liquidity, and support them to move towards sustainable growth in green businesses, such as the ‘SME Green Productivity’ loan, which helps increase productivity for businesses to be environmentally friendly. The interest rate is only 3% per year, fixed for the first 3 years, with a maximum amount of 10 million baht, and a maximum repayment period of 10 years. In addition, the loan is free of principal payments for up to 12 months. With or without collateral, it can be borrowed, along with development services via the ‘DX by SME D Bank’ platform (dx.smebank.co.th), strengthening the business for SME entrepreneurs, all in one place, including knowledge s
ources, business consultants, and channels to expand the market and increase income. For more information, call the Call Center at 1357.-515- Thai News Agency
Source: Thai News Agencyl