Bank of Ayudhya cuts rates

Business > Economics

Published: 24/02/2012 at 04:50 PM
Online news: Economics

Bank of Ayudhya (BAY)announced on Friday that it is cutting rates on savings deposits by 0.12 percentage points and 0.125 percentage point for loan rates, reports said.

The new interest rates take from Monday, Feb 27.

The new rates are set at 0.75 per cent for savings deposits, 7.50 per cent for the minimum loan rate (MLR) and 7.75 per cent for minimum overdraft rate (MOR), according to the reports.

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Renaissance
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Discussion 2 : 24/02/2012 at 07:11 PM2
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Is this the result of Pheu Thai pushing the 1.2 trillion Baht debt onto the banking system, which is now reducing savings account rates so as to pay for the debt? I don't mind experiencing inconvenience or small extra costs when it means the betterment of the country, but I object to this because 30% of the 1,200,000,000,000 Baht will end up in the pockets and offshore bank accounts of government politicians and their friends.
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bkposter
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Discussion 1 : 24/02/2012 at 04:45 PM1
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So the loan rates are 10 times the deposit rates....nice mark up for the bank.
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Bank of Ayudhya cuts rates | Bangkok Post: business