GSB Increases Interest Rates For Fixed Depositors

[Jai Dee]

GSB increases interest rates for fixed depositors

The Government Savings Bank (GSB) has raised the interest rates for 6-month and 12-month fixed deposits ranging from 4.5 to 5.35 percent per year. The bank would like to offer optimum benefits to all types of its customers.

For customers who have less than 100,000 baht in their 6-month fixed deposits, their annual interest rate will be raised to 4.5 percent, while the ones with over 100,000 baht in their accounts, they will get 4.75 percent per year. 12-month fixed depositors with lower than 100,000 baht will receive 5 percent a year, and 5.35 percent increase will be granted to savers with at least 100,000 baht annually. The period for deposit starts today and will end on May 31st, 2006.

However, the GSB has not considered any adjustment on the loan interests because it would not want to increase the borrowers’ burdens.

Source: Thai National News Bureau Public Relations Department - 17 April 2006

[Heng]

Sweet. Hopefully (surely) they'll be raising MLR as well soon.