Following the Bank of Thailand‘s decision to hike its policy rate by 0.25…

Following the Bank of Thailand‘s decision to hike its policy rate by 0.25 percentage points, banks are now increasing both their loan and deposit rates. In a bid to attract depositors, special rates are being offered on digital savings products.

Siam Commercial Bank (SCB), the country’s fourth-largest lender by total assets, has acted promptly to the central bank’s policy rate rise by lifting its prime loan rate by 0.25 percentage points. The change is effective from today.

All types of loan rates have also been increased, including the minimum retail rate (MRR) which now stands at 7.3% annually, the minimum loan rate (MLR) at 7.05% annually, and the minimum overdraft rate (MOR) at 7.575%.