Bangkok--30 Aug--Siam Commercial Bank
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, “ The economy in general has been very positive. However inflationary pressure remains, SCB decides to raise interest rates to be in line with the MPC. Term deposit, bills of exchange will increase by 0.15% - 0.30% p.a. according to amount and terms. Interest on loans will also increase by loan type between 0.12%-0.20% p.a. The increases will be effective from 31 August 2011.”
As a result of the new rate adjustment, fixed deposit interest rates will be adjusted to 1.90%-2.20% p.a. for 3-month deposits, 2.35%-2.50% p.a. for 6-month deposits, and 2.75%-3.0% p.a. for 12-month deposits. Long-term fixed deposits will receive 3.15%-3.25% p.a. for 24-months, and 3.30%-3.50% p.a. for 36-month deposits. For loans, MLR will increase to 7.25% p.a., MOR to 7.55% p.a., and MRR to 8.10% p.a.
***For more information, please contact any SCB branch or the SCB Call Center at (02) 777-7777***