Commenting on the rate cut, SCB President Kannikar Chalitaporn said: “To keep pace with the market competition, the Bank decides to slash interest rates for loans and deposits in line with the Bank of Thailand’s monetary policy. Effective from February 22, 2012, loan interest rates will decrease by 0.125% p.a. and savings interest rates will reduce by the same level.”
As a result of the new rate adjustment, MLR will decrease to 7.125% p.a. and MOR to 7.425%. The savings interest rate will stay at 0.75% p.a.
To promote saving, SCB is offering a special 7-month and 10-month fixed deposit campaign with very attractive returns of 3.30% and 3.40% p.a. respectively.
For additional information, please contact any SCB branch or the SCB Call Center at (02) 777-7777.