Bangkok--22 Apr--Siam Commercial Bank
To be in line with better than expected economic growth and to respond to the increase of the policy rate by the Bank of Thailand, Siam Commercial Bank increases interest rates for fixed deposits, B/E, and all loans.
Commenting on the increase, Siam Commercial Bank President Kannikar Chalitaporn noted that, "To keep pace with favourable economic circumstances, SCB decides to raise interest rates for all deposits and loans in line with Bank of Thailand monetary policy. Deposit and loan interest rates will increase by 0.25% - 0.30% p.a. according to amount and terms. Interest on loans will also increase by loan type in a small range of 0.125%-0.15%. The increases will be effective from April 22, 2011.
As a result of the new rate adjustment, fixed deposit interest rates will be adjusted to 1.50%-1.70% p.a. for 3-month deposits, 1.80%-2.00% p.a. for 6-month deposits, and 2.00%-2.20% p.a. for 12-month deposits. Long-term fixed deposits will receive 2.65%-2.95% p.a. for 24-months, and 3.15%-3.25% p.a. for 36-month deposits. For loans, MLR will increase to 6.75% p.a., MOR to 7.00% p.a., and MRR to 7.50% p.a.
For more information, please contact any SCB branch or the SCB Call Center at (02) 777-7777