Local banks have announced they are maintaining the prime lending interest rate to support fragile customers amid a rising interest rate trend.
Siam Commercial Bank (SCB) and TMB Thanachart Bank (ttb) announced that they are to keep prime loan interest rates unchanged, while ttb has also increased its deposit rate for a specific deposit account.
Their moves follow the Bank of Thailand (BoT)'s policy rate hike on Aug 10 by 25 basis points to 0.75% at present from a record low of 0.50%. The rate hike last week was the first time in almost four years the central bank has raised the rate, aiming to tame the elevated level of inflation.
