GS Bank cuts interest rates
Government Savings Bank on Wednesday announced a 12-basis points cut in deposit rates and a cut in lending rates by 0.125-0.25 percentage point, with immediate effect.
President Lersak Chuladesa said that the move is in line with the policy rate cut by 25 basis points last week. Following the move, its 3-month fixed deposit rate would be 2.13-2.48 per cent per annum. The minimum overdraft rate (MOR) will fall from 7.50 per cent to 7.375 per cent, while minimum retail rate (MRR) from 8 per cent to 7.75 per cent.
"GS Bank remains committed to promote savings and assure individuals with funding at reasonable prices, to strengthen the grassroots economy," he said.
