BBL cuts lending rate by 0.125%

The bank's new minimum lending rate (MLR), is at 6.875 per cent. Its minimum overdraft rate (MOR) stands at 7.125 per cent, while the minimum retail rate (MRR) reduces to 7.375 per cent, according to the bank's statement.  

 The move follows the Bank of Thailand's the Monetary Policy Committee surprised decision on Wednesday to cut its 1-day repurchase rate by 25 basis points to 3.25 per cent.

 For deposits, Thailand's largest bank maintains rate for its 3 and 6-month time-deposit accounts for amount exceeding Bt1 million but less than Bt5 billion at 2.25 per cent. Rate for the 3 and 6-month fixed deposit with amount greater than Bt5 million is reduced from 2.50 per cent to 2.25 per cent.

 The new rate for the 12-month time deposit accounts with amount exceeding Bt1 million but less than Bt5 million is raised by 0.125 per cent to 2.375 per cent, while amount more than Bt5 million is reduced to 2.375 per cent.

 Rates for 12 and 24-month time deposit account for all amount remains unchanged at 2.50 per cent.

- The Nation