Kasikornbank to cut overdraft rate by 25 basis points

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Kasikornbank to cut overdraft rate by 25 basis points

By THE NATION

 

KBank president Predee Daochai

 

Kasikornbank will lower its Minimum Overdraft Rate (MOR) by 25 basis points to 6.62 per cent and minimum retail rate (MRR) by 12 basis points to 6.50 per cent to ease the burden on small and medium-sized clients and individual clients, according to its statement today.

 

 

KBank president Predee Daochai said the move will take effect from March 24.

 

The move is in line with the Monetary Policy Committee's decision on Friday (March 20) to cut the key policy rate by 0.25 of a percentage point, from 1.00 to 0.75 per cent, effective from March 23 to reduce the interest burden on borrowers affected by the Covid-19 outbreak and to alleviate liquidity strain in the financial markets.

 

Source: https://www.nationthailand.com/business/30384577

 

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[uli65]

25 basis points, what a joke!!!