Kbank raises rates to lure savers

The bank said it expected the Bank of Thailand's Monetary Policy Committee to raise its policy rate today from 3.25 per cent to 3.5 per cent.

Kasikornbank has therefore launched the new deposit packages with rates of 3.5 per cent. Customers who also open a Thaweesub deposit account will obtain a slightly higher rate of 3.65 per cent. The minimum deposit amount is Bt10,000 and the maximum Bt1 million per person.

The deposit package is available from today until August 1. The bank said it has also introduced a new version bill of exchange called "K-B/E Step-up" with a maturity of 24 months with interest rates rising from 3.5 per cent to 6 per cent.

In the first to sixth month, the rate  offered is 3.5 per cent. That would rise to 4 per cent in the seventh to 12th months; 5 per cent in the 13thto 18th months, and 6 per cent in the 19th to 24th months. Savers can buy the B/E with a minimum amount of Bt500,000. The bills will be available from July 21 to August 1.