Bangkok--28 May--Bangkok Bank
Bangkok Bank has reduced the interest rate on its credit card loans by 2 percentage points, the lowest rate in banking industry. The move comes after the bank last week led the market by lowering its interest rates on other kinds of loans. The new interest rate on credit card loans takes effect from 1 July, 2009.
“The bank has reduced the interest rate on its credit card loans from 20.00 percent to 18.00 percent per annum to alleviate expenses for credit card holders,” said Bangkok Bank Executive Vice President Bordin Unakul. “We recognize many card holders have been affected by the difficult economic situation.”
On 21 May, Bangkok Bank led the banking industry with cuts to its Minimum Lending Rate, Minimum Overdraft Rate and Minimum Retail Rate.
“Bangkok Bank has taken the lead with these latest interest rate cuts to ensure its credit card loan rates are moving in line with general lending rates. Our rate of 18.00 percent is the lowest credit card loan interest rate available in the country,” Mr. Bordin said.