State financial institutions Cut interest rates to 0.25% for 6 months to help small businesses and vulnerable groups

Association of State Financial Institutions Announcement of interest rate reduction of 0.25% for 6 months to help small customers and vulnerable groups, effective 1 May.

Mr. Withai Rattanakorn, Director of Government Savings Bank As the chairman of the Association of State Financial Institutions, he revealed that at the association’s board meeting on April 25, 2024, the meeting jointly resolved toReduce interest rates by 0.25% To help small customers and vulnerable groups according to government policy.

by Government Savings Bank Government Housing Bank (GH Bank), Small and Medium Enterprise Development Bank of Thailand (SME D Bank), Export-Import Bank of Thailand (EXIM Bank) and Small Industry Credit Guarantee Corporation (TCG). including the Islamic Bank of Thailand Together they reduced the reference interest rate for all groups of retail customers by 0.25%.

Consisting of the retail customer loan interest rate (MRR – Minimum Retail Rate), the announced interest rate (Prime Rate) and the reference profit rate for prime retail customers (SPRR – Standard Profit Rate for Prime Retail Customer), effective from 1st. May 2024 for a period of 6 months.

Meanwhile, the Bank for Agriculture and Agricultural Cooperatives jointly reduced interest rates for vulnerable customers by 0.25% for a period of 6 months as well. This is because there has been a moratorium on farmers’ debts previously.

The Association of State Financial Institutions and member banks Realizing the burden of financial costs on the people and the economic situation that has not yet recovered at this time, the association is ready to support the government’s policy to stimulate the economy and various financial measures that have been created to relieve the burden and help enhance liquidity in household This will help people have a better quality of life.