Krung Thai Bank has announced a reduction in the MOR loan interest rate by 0.25% per annum and the MRR loan interest rate by 0.125% per annum to help alleviate the financial burden on customers and businesses of all types, including SMEs and individual borrowers, effective from March 25, 2020.

Mr. Payong Srivanich, the President of Krung Thai Bank, stated that as a state-owned commercial bank, the bank recognizes its role in supporting the economy and responding to the direction of policy interest rates during a time when the economy is vulnerable due to both domestic and external factors, particularly the COVID-19 pandemic, which has severely impacted the Thai economy. This move aims to ease the burden on all customers and businesses, including SMEs and individual clients.

The bank has thus reduced the MOR loan interest rate by 0.25% to 6.62% per annum and the MRR loan interest rate by 0.125% to 6.745% per annum, hoping that this interest rate reduction will help mitigate the overall impact on the Thai economy. As for deposit interest rates, the bank has only adjusted the fixed deposit rates in line with market trends, effective from March 25, 2020, onwards.