Bangkok: SME D Bank has announced a reduction in its loan interest rates by up to 0.25%, effective November 1, 2024, to alleviate financial burdens on small and medium-sized enterprises (SMEs) in Thailand. The bank is also offering special low-interest loans to promote sustainable business growth.
According to Thai News Agency, SME D Bank’s interest rate cut aligns with government and Bank of Thailand (BOT) policies to support the Thai economy. The bank’s adjustment includes a 0.25% reduction in the Minimum Retail Rate (MRR) and Minimum Overdraft Rate (MOR), as well as a 0.10% reduction in the Minimum Loan Rate (MLR), effective November 1, 2024. This move follows the BOT’s Monetary Policy Committee decision on October 16, 2024, to lower the policy interest rate from 2.50% to 2.25% per annum.
SME D Bank will maintain its current deposit interest rates, providing secure and stable high-yield options for various organizations, including government agencies and private sector entities. The bank is also launchin
g special low-interest loans, such as the ‘SME Green Productivity’ loan, which features an interest rate of 3% per annum, fixed for the first three years. These loans aim to enhance liquidity and support SMEs in transitioning toward environmentally friendly business practices.