Bangkok Bank raises interest rates on deposits and loans

FRIDAY, JUNE 02, 2023

Following the Bank of Thailand's decision to raise its policy interest rate on May 31 by 25 basis points to 2%, the Bangkok Bank Plc (BBL) today announced that it has raised interest rates for deposits and loans, effective as of June 2 amid the steady growth of the Thai economy.

According to BBL's Executive VP, Suvarn Thansathit, the interest rates on deposits have been raised by 0.05-0.25%. The interest rate for savings deposits is now 0.60% per annum, while interest for 3-month fixed deposits is 0.95% per annum. Fixed deposits for 6 months now earn 1.05% per annum.

For fixed deposits of 12 months, the interest rate is 1.35% per annum. Fixed deposits for 24 months earn 1.75% per annum, and fixed deposits for 36 months yield 1.90% per annum. As for e-Savings deposits, the interest rate is 1.50% per annum for a maximum limit of 1 million baht, and for amounts exceeding 1 million baht, the interest rate is 0.60% per annum.

Loan interest rates, meanwhile, have increased by 0.20%. The Minimum Loan Rate (MLR) for prime customers with loans of a specific duration is now 6.85% per annum. The Minimum Overdraft Rate (MOR) for prime customers with overdraft facilities is set at 7.30% per annum, while the Minimum Retail Rate (MRR) for retail clients with good credit history is now 7.05% per annum.