Mr. Krit Jitjang, KBank President, said, “The Monetary Policy Committee (MPC) voted unanimously to raise its policy rate by 0.25 percent per annum, from 1.25 percent to 1.50 percent per annum, thanks to the country's ongoing economic recovery, mainly driven by tourism and private consumption. In order to align with the policy rate hike and increase purchasing power for customers amid the rising costs of living, KBank has raised its fixed deposit interest rates by 0.10-0.25 percent.
KBank remains concerned about retail customers and small entrepreneurs. To ensure that such customers can adapt themselves comfortably amid interest rate hikes, KBank has assumed a cautious stance on adjusting lending rates by raising retail loan interest rates by only 0.10 percent, and raising other lending rates as follows:
Interest rate of term loans for corporate customers in good standing (Minimum Lending Rate) has been raised to 6.57 percent, from the previous 6.37 percent.
Interest rate of overdraft facilities for corporate customers in good standing (Minimum Overdraft Rate) has been raised to 6.89 percent, from the previous 6.74 percent.
Interest rate for retail customers in good standing (Minimum Retail Rate) has been raised to 6.60 percent, from the previous 6.50 percent.
The revised interest rates are effective from January 30, 2023, onwards.
In addition, KBank acknowledges the importance of caring for and helping alleviate the expense burdens of retail customers and other vulnerable groups. The Bank will consider appropriate assistance measures for customers who could be affected by the rate increase, accounting for their potential and opportunities for future adjustments. Such customers are welcome to contact KBank through various channels.
