Tisco steps up race for deposits
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Tisco Bank has raised the interest rates for all types of deposits, quoting 3 per cent - the highest in industry - for its Diamond savings account, apparently in the fierce race for deposits.
Diamond Savings product allows depositors with unlimited withdrawals and these are designed also for corporate clients.
Minimum deposit for the product is Bt1 million. The first Bt10 million in entitled to 3 per cent rate while the subsequent amount to 2.5 per cent.
Commercial banks are in fierce competition for deposits, to cope with high corporate and SME loan demand.
Effective today, the interest rate of the general savings product is also raised 25 basis points to 1.25 per cent.
