Bangkok--19 Jul--Siam Commercial Bank
Siam Commercial Bank increases interest rates for savings, fixed deposits, B/E, and all loans. Commenting on the increase, Siam Commercial Bank President Kannikar Chalitaporn noted that, “ The economy has been favorably strong. Still there is a concern over inflationary pressure, SCB will raise interest rates to be in line with the MPC. Savings, term deposit, bills of exchange and loan interest rates will increase by 0.10% - 0.35% p.a. according to amount and terms. Interest on loans will also increase by loan type in a small range of 0.25% p.a. The increases will be effective from 19 July 2011.”
As a result of the new rate adjustment, savings deposit will stand at 0.87% p.a. while fixed deposit interest rates will be adjusted to 1.75%-1.95% p.a. for 3-month deposits, 2.10%-2.30% p.a. for 6-month deposits, and 2.50%-2.75% p.a. for 12-month deposits. Long-term fixed deposits will receive 3.00%-3.20% p.a. for 24-months, and 3.25%-3.50% p.a. for 36-month deposits. For loans, MLR will increase to 7.13% p.a., MOR to 7.40% p.a., and MRR to 7.90% p.a.
For more information, please contact any SCB branch or the SCB Call Center at (02) 777-7777