KBank launches new fixed deposit with fast-rising interest rate up to 4.75 percent

          KASIKORNBANK has introduced a 33-month fixed deposit, “33-month Fixed Deposit with Fast-Rising Interest Rate”, with an interest rate that increases every three months to 4.75 percent per annum. The product offers a new option for depositors amid the current stable interest rate trend. The Bank expects to register deposits of approximately 30 billion Baht via this product, expanding its customer base to a new target group consistent with the Bank’s plan – “KBank, Leave Everything in Our Hands”. The plan also aims to retain existing customers of KGroup’s financial services.

          Mr. Krisada Lamsam, Executive Vice President of KASIKORNBANK, said the new deposit promotion of “33-month Fixed Deposit with Fast-Rising Interest Rate” will provide an alternative saving tool for long-term depositors or those who seek a secure investment channel with high returns amid the stable interest rate trend.

          The “Fixed Deposit with Fast-Rising Interest Rate” lasts 33 months, gradually offering a higher interest rate every 3 months. Starting with the 1st - 3rd month, the deposit rate is 0.75 percent, increasing to 1.0 percent during the 4th - 6th month, 1.25 percent during the 7th - 9th month, 1.50 percent during the 10th - 12th month, 1.75 percent during the 13th - 15th month, 2.0 percent during the 16th - 18th month, 2.25 percent during the 19th - 21st month, 2.50 percent during the 22nd - 24th month, 2.75 percent during the 25th - 27th month, 3.75 percent during the 28th - 30th month, and 4.75 percent during the final three months. Customers will receive interest every 3 months via their KBank savings or current account. The minimum amount of first deposit is 10,000 Baht. In addition, a minimum of 0.75 percent interest per annum is guaranteed in case of withdrawal before maturity.

         The Bank aims to register total deposits from the “33-month Fixed Deposit with Fast-Rising Interest Rate” campaign of approximately 30 billion Baht. Interested persons can open a “33-month Fixed Deposit with Fast-Rising Interest Rate” account from now until May 31, 2010, at more than 800 branches of KBank nationwide, or ask for more information at the K-Contact Center, tel. 0 2888 8888.