|

Four Thai Banks Trim Lending Rates by 25-50 Basis Points

BANGKOK – Thai banks have trimmed their lending interest rates by 25-50 basis points to help small businesses in line with the government’s policy, effective on Tuesday.

Bangkok Bank on Monday cut its minimum overdraft rate (MOR) by 25 basis points to 7.125% and its minimum retail rate (MRR) by 50 points to 7.125%, said senior executive vice- president Suvarn Thansathit.

Krungthai Bank also trimmed its MRR by 50 points to 7.12% and planned to launch a 6-billion-baht loan campaign for SMEs, said president Payong Srivanich.

For SMEs with sales more than 100 million baht or credit lines more than 20 million baht, Krungthai offers three packages — an interest rate fixed for three years starting at 4% for loans with collateral, a fixed rate for three years starting at 4.5% for loans guaranteed by Thai Credit Guarantee Corp (TCG) and 4% for factoring loans.

The state bank will lend up to 40 million baht to this group, to be repaid over seven years.

For SMEs with turnover less than 100 million baht or credit lines less than 20 million, the bank will charge a fixed rate for three years starting at 4%, both secured loans and those guaranteed by TCG.

The bank will lend 2 billion baht in total to this group, up to 20 million baht to each client, to be repaid in seven years.

As well, Siam Commercial Bank cut all lending rates by 25 basis points. Its minimum lending rate (MLR) and MOR rate are now are the lowest in the banking sector, at 6.025% and 6.870% respectively. Its MRR is at 7.370%.

The bank also planned to lend up to 20 billion baht to SMEs and other support measures to help them grow, said chief executive Arthid Nanthawithaya.

Kasikornbank cut its MRR, the most used by SMEs, by 50 basis points. Its rates are 6.25% for MLR and 7.12% for MOR and MRR, said president Predee Daochai.

Comments

comments

Powered by Facebook Comments

Short URL: http://www.chiangraitimes.com/?p=46728

Posted by on May 15 2017. Filed under Economy & Business, Regional News. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.
Photo of White Beach in Boracay, Philippines

In Loving Memory of His Majesty the King

Photo of His Majesty the King Bhumibol Adulyadej
Learning Thai with Jen