SCB lowers interest rates

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BANGKOK, 22 February 2012  – The Siam Commercial Bank (SCB) has adjusted the loan and savings interest rates down by 0.125% from Wednesday onwards. 

In response to the Bank of Thailand (BoT)’s policy and the current market competition, the SCB considered lowering of the interest rates by 0.125% per year suitable.

As a result, the (Minimum Loan Rate) MLR has been adjusted down to 7.125% and Minimum Overdraft Rate (MOR) at 7.425%. The savings interest rate is at 0.75% per year.

The bank is now offering an interest rate of 3.3% on a special seven-month savings account and 3.4% on a 10-month fixed deposit account to attract customers as the savings interest rates are considered very low.