TMBThanachart, or TTB, <\/span>has raised interest rates for deposits and loans <\/span>in line with the direction of the policy interest rate <\/strong> to align with the ongoing recovery trend of the Thai economy. The bank emphasizes its commitment to serving all customer segments and supporting savings while enhancing liquidity for customers. The interest rate for special fixed deposit accounts has been increased by up to <\/span>0.60% <\/strong>per annum.<\/strong>

Mr. Piti Tantakasem, CEO of TMBThanachart or TTB,<\/strong> revealed that during the Monetary Policy Committee (MPC) meeting on March 29, 2023, a unanimous decision was made to raise the policy interest rate by 0.25% from 1.50% per annum to 1.75% per annum. In response to this policy rate adjustment, TMBThanachart has considered raising interest rates for both deposits and loans. The bank prioritizes supporting savings to improve customers' financial lives, leading to an increase in fixed deposit interest rates as follows:

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For Individual Customers:<\/u><\/strong>

  • General fixed deposit accounts for 3 months, 6 months, and 12 months have been increased by up to 0.20% <\/strong>per annum.<\/strong>
  • Special fixed deposit accounts, which provide another savings option to enhance liquidity for customers, include the TTB Quick Interest Account <\/strong>for 3 months, with an interest rate increase of 0.60% to <\/strong>1.10% <\/strong>per annum.<\/strong> Customers can access interest after just 7 days of deposit. Additionally, the TTB Exclusive Special Fixed Deposit Account <\/strong>for 9 months has seen an interest rate increase of 0.30% to 1.20% <\/strong>per annum, allowing customers to make short-term deposits and receive high returns.<\/strong>

For Corporate Customers:<\/u><\/strong>

  • For general corporate customers, excluding financial institutions,<\/strong> fixed deposit accounts for 24 months and 36 months have seen an interest rate increase of 0.20% to 1.40% per annum and 1.70% per annum, respectively.
  • For financial institution customers,<\/strong> fixed deposit accounts for 24 months and 36 months have seen an interest rate increase of 0.20% to 1.10% per annum and 1.40% per annum, respectively.

The above deposit rate adjustments are effective from <\/span>April 5, 2023.<\/span>

Additionally, the bank has increased interest rates for all types of loans, <\/strong>raising the interest rate for prime customers (MLR - Minimum Loan Rate) by 0.25% and the interest rate for prime customers on overdrafts (MOR - Minimum Overdraft Rate) by 0.25%. Meanwhile, the interest rate for prime retail customers (MRR - Minimum Retail Rate) has been increased by 0.20%, effective from April 18, 2023. The bank places great importance on caring for all customer segments and continues to implement measures to assist various customer groups.

“Although the overall Thai economy in 2023 is still projected to grow steadily, there are external factors to watch closely. This interest rate adjustment, particularly for deposits, will help Thai people generate greater returns from their savings, reinforcing the bank's goal of creating better financial lives for Thais,” <\/strong> Mr. Piti concluded.