Friday, July 03, 2020

Kasikornbank to cut overdraft rate by 25 basis points

Mar 21. 2020
KBank president Predee Daochai
KBank president Predee Daochai
Facebook Twitter

By THE NATION

Kasikornbank will lower its Minimum Overdraft Rate (MOR) by 25 basis points to 6.62 per cent and minimum retail rate (MRR) by 12 basis points to 6.50 per cent to ease the burden on small and medium-sized clients and individual clients, according to its statement today.

KBank president Predee Daochai said the move will take effect from March 24.

The move is in line with the Monetary Policy Committee's decision on Friday (March 20) to cut the key policy rate by 0.25 of a percentage point, from 1.00 to 0.75 per cent, effective from March 23 to reduce the interest burden on borrowers affected by the Covid-19 outbreak and to alleviate liquidity strain in the financial markets.

Tags:
Facebook Twitter
More in Business
Editor’s Picks
wmg-logo
Top News
wmg-logo