Bangkok--3 Sep--KASIKORNBANK
KASIKORNBANK is extending the Wow! Step-up Fixed Deposit — 18 months offer for customers seeking high returns on short-term investments until September 30.
According to Mr. Pakorn Partanapat, KASIKORNBANK Executive Vice President, government bonds totalling 200 billion Baht issued by the Ministry of Finance come to maturity in September and the Ministry is offering 80 billion Baht in special six-year bonds paying 3.99 percent annual interest. Both of these are long-term instruments.
As an alternative for those seeking high returns on short-term investments, among both those whose bonds mature in September and the general public, KBank’s Wow! Step-up Fixed Deposit — 18 Months offer has been extended beyond the August 31 deadline and is now accepting deposits through September 30. The longer the deposit remains in the account, higher the interest.
The Wow! Step-up Fixed Deposit — 18 months, pays step-up rates peaking at 15 percent p.a. Average interest over the entire 18-month term is 3.61 percent p.a. Deposits earn 1.85 percent p.a. the first through the fifth month, 2.65 percent months 6-9, 3.35 percent months 10-13, 4.15 percent months 14-17 and 15 percent p.a. the 18th month. Customers may open an account with a minimum 10,000 Baht deposit and interest will be paid out every three months. Withdrawals before maturity earn 1.85 percent p.a. for the actual deposit period, still higher than the average savings rate on the market.
More than 42,000 customers have already invested in the plan and additional depositors may invest at any KBank branch nationwide. Customers may call the K-Contact Center at 0 2888 8888 for more details.