Bangkok Bank raises interest rates on deposits and loans
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.
