Thai Banks Lift Fixed Deposit Rates

Two banks lift fixed deposit rates

Thanachart Bank has increased its 12-month fixed deposit interest rate to 1.75% from 1.5%, effective yesterday. The bank also said that 24-month fixed deposit rates would increase to 2.125% from 2%, with 36-month rates increased to 2.625% from 2.5%. Rates for three- and six-month fixed deposits were left unchanged.

Bank of Ayudhya has also increased rates for its 24- and 36-month fixed deposits by one-quarter of a percentage point. The bank now quotes 24-month rates at 1.5% and 36-month rates at 2%. Savings rates were left unchanged at 0.75%, with three-, six- and 12-month rates also remaining at 1%.

--Bangkok Post 2004-01-07