BBL launches Step Plus Fixed Deposit

"The Step Plus fixed deposit account offers a new option for deposit customers seeking a return at rates higher than the normal market interest rates," Ruchanee Nopmuang, the executive vice president for metropolitan consumer banking, said yesterday.

Banks that have brought out similar deposit packages with sliding rates include Siam Commercial Bank and Bank of Ayudhya.

The Step Plus account can be opened with an initial minimum deposit of Bt50,000 from today to July 20. Every subsequent deposit must be at least Bt50,000.

The new deposit account offers interest rates that increase in three sixmonth steps starting at 1.00 per cent, going up to 1.25 per cent for the following six months and then 1.50 per cent for the last six months.

The account pays interest every six months.