Bangkok Bank pilots interest rate cuts The State Bank Association voted to join the parade effective May 1.

Reporters reported that After the representative bank of the Thai Bankers Association Had the opportunity to meet the Prime Minister. To exchange views on the current economic situation Household debt situation Including additional care and assistance to alleviate the suffering of vulnerable groups of people on April 23, 2024, leading to the announcement of reductions interest by Mr. Phayong Sriwanit, President of the Thai Bankers Association, on April 25, 2024, indicating the need to issue additional relief measures for vulnerable customers. Meanwhile, the economy has not fully recovered and is not thorough. By reducing interest rates for prime retail customers (MRR) by 0.25% for vulnerable customers. Both individual customers and SMEs for 6 months

Most recently, on April 26, 2024, Bangkok Bank Public Company Limited has piloted an announcement to reduce the interest rate for prime retail customers (MRR) by 0.25% per year, effective from April 29, 2024, for 6 months. Month is considered the first commercial bank to announce an interest rate reduction in accordance with the resolution of the Thai Bankers Association.

Mr. Withai Rattanakorn, Director of Government Savings Bank As the chairman of the Association of State Financial Institutions, he revealed that the association’s board meeting There was a joint resolution to reduce the interest rate by 0.25% to help retail customers and groups. Fragile according to government policy By jointly reducing the reference interest rate for all groups of retail customers by 0.25%, which is the loan interest rate. retail customers (MRR-Minimum Retail Rate), announced interest rate (Prime Rate) and reference profit rates for prime retail customers (SPRR-Standard Profit Rate for Prime Retail Customer) effective from 1 May 2024 for a period of 6 months.

While Mr. Chulaphan Amornvivat, Deputy Finance Minister, as chairman of the board of the Bank for Agriculture and Agricultural Cooperatives (BAAC), said that the BAAC has reduced interest rates in line with the Prime Minister’s policy. By reducing the MRR loan interest rate by 0.25% for a period of 6 months for farmers, vulnerable customers and SMEs experiencing production problems. causing the ability to repay debts to decrease Including NPL debtors who are undergoing debt restructuring. There are more than 1.2 million customer accounts that will benefit, effective from 1 May – 31 Oct. 2024. “In the past, the BAAC has issued continuous measures, such as measures to suspend debt payments for small farmers. The credit limit is not more than 300,000 baht. There are 1.85 million people participating in the project. The credit limit is over 257,000 million baht. We are also preparing to expand measures to help small farmers through the phase 2 debt moratorium project soon.”

The Government Savings Bank announced a reduction in MRR interest by 0.25%, making the interest rate at 6.595%, the lowest compared to large commercial banks. And it is the second interest reduction of 2024. Total MRR interest has decreased by 0.40%. Interest will automatically decrease. Customers do not need to contact the bank.

Meanwhile, the Small and Medium Enterprise Development Bank of Thailand (SME) or SME D Bank announced a reduction in the MRR interest rate by 0.25% per year for a period of 6 months, effective from 1 May 2024 onwards, such as The same as the Government Housing Bank or GH Bank, reducing the MRR interest rate by 0.25% per year for customers with floating interest rates to help reduce the cost burden for more than 1.8 million customers, including customers in low-income groups. and vulnerable groups

The Export-Import Bank of Thailand (EXIM Bank) announced a reduction in the Prime Rate interest rate by 0.25% per year from 6.60% to 6.35% per year, making it the lowest interest rate for prime retail customers in the world. system for 6 months, effective from 30 April 2024 onwards, as well as the Small Industry Credit Guarantee Corporation or TCG has reduced the interest rate by 0.25% in accordance with government policy. To help small SMEs and vulnerable groups Effective from 1 May 2024.