TMBThanachart hikes loan interest rate but GHB maintains status quo
TMBThanachart Bank (TTB) on Thursday raised its lending rates following the central bank’s move to hike the key policy rate.
Piti Tantakasem, chief executive officer of TTB, said his bank had to raise the interest rate after the policy rate was increased for the third time this year.
On November 30, the Bank of Thailand’s Monetary Policy Committee voted unanimously to raise the policy interest rate by 25 basis points to 1.25% to control inflation.
Piti said TTB raised its MRR (minimum retail rate) for retail customers by 0.20 percentage point to 6.68% per annum while the MLR (minimum loan rate) for big clients was raised by 0.25 percentage point to 6.625% per annum.
He said the MOR (minimum overdraft rate) was raised by 0.25 percentage point to 6.65% per annum.
The increase takes immediate effect.
Meanwhile, Government Housing Bank president Chatchai Sirilai said the bank would maintain the current lending rates until the end of January before raising them in accordance with the new policy rate.
He said the GHB decided to maintain the current loan rates to minimise impact on its clients.
But the GHB has decided to increase its deposit rates for fixed accounts and deposit drafts with two-year, three-year, and five-year terms by 0.10 to 0.50 percentage point per annum from 1.1% per annum.
The increase will take effect on Friday, he said.
On Wednesday, Siam Commercial Bank (SCB) had raised its interest rates for both deposits and loans, the first bank to do so following the Bank of Thailand’s latest policy rate hike.
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Bank of Thailand raises policy rate by 25 points to fight inflation
SCB first to raise interest rates after Bank of Thailand rate hike
