Bangkok Bank (BBL) has reacted quickly to the Bank of Thailand's reduction in its policy interest rate, cutting both deposit and lending rates, it said in a statement on Friday.
BBL, the country's largest bank in terms of assets, said its minimum lending rate (MLR) would decline to 7% from 7.125%, effective from Monday. The minimum overdraft rate will fall to 7.25% from 7.375% and the minimum retail rate to 7.75% from 7.875%.
As well, BBL is cutting rates on all fixed-deposit accounts were cut by 0.25 percentage points. The new three-month rate will be 1.75%, six months 2.125%, 12 months 2.5%, 24 months 2.75%, and 36 months 3%.
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