Bangkok Bank raises loan and deposit rates

Bangkok Bank raises loan and deposit rates

State banks also lifting lending rates following latest Bank of Thailand rate hike

A customer walks out of a Bangkok Bank branch in Phaya Thai district of Bangkok. (Bangkok Post File Photo)
A customer walks out of a Bangkok Bank branch in Phaya Thai district of Bangkok. (Bangkok Post File Photo)

Bangkok Bank said on Thursday it would raise deposit rates by a maximum of 0.25 percentage points and increase loan rates by between 0.15 and 0.20 points.

The rate increases, effective on Friday, come after the Bank of Thailand raised its benchmark interest rates by 25 basis points to 1.5% this week.

State-run banks have also begun to raise loan interest rates for the first time in years, in line with the central bank’s move.

The Government Housing (GH) Bank on Thursday increased all types of loan rates by 0.25 percentage points, the first increase in two years and nine months.

The Government Savings Bank also lifted all loan rates by 0.25 points, effective from Thursday, while the Bank for Agriculture and Agricultural Cooperatives raised its loan rate by between 0.125 and 0.25 points, effective from Feb 1.

The Export-Import Bank of Thailand also said it would raise its prime lending rate to 6% from 5.75%, effective Feb 1.

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