“Commercial Bank – State Bank” heats up competition, opens a battle to win deposits to cope with the economy in the year of the Rabbit

side “A rice bank like the Kasikorn Bank” Above all, increased the interest of large customers, MLR and MOR by 0.25%, resulting in the MLR interest rate from 5.72% to 5.97%.

MOR interest rate from 6.09% to 6.34%, while MRR increased by 0.13% from 5.97% to 6.10% and fixed deposit interest rates increased by 0.10%-0.40% effective December 8.

bank “Krung Thai” Raising the fixed deposit interest rate to a maximum of 0.50% per annum to increase income with depositors. and strengthening the discipline of saving In terms of interest on MLR and MOR loans, they increased by 0.25%, making MLR at 5.75% per annum and MOR at 6.32% per annum.

Although the MRR increased by only 0.15% per annum, it was at 6.37% per annum, which is lower than the increase in the policy rate. In force from 9 December.

part “Bualuang Bank as Bangkok Bank Introducing e-Savings deposits with an interest rate of 1.50% per annum for deposits not exceeding 1 million baht and for an excess amount of 1 million baht at an interest rate of 0.50% per annum.

on the side of the state bank “Government Bank” (GHB) launches “Eco Savings deposits”, offering high returns with a special interest rate of up to 1.75% per annum to those with a balance of less than 5 million baht.

from those with a deposit balance of more than 5 million baht Receive an interest rate return equal to with the highest savings interest rate published by the bank

while the farmers’ favorite bank “Agricultural Bank and Agricultural Co-operative” (BAAC) launches instant interest deposits, instant deposit, receive advance interest to spend in the New Year immediately 1.25%, set a minimum deposit limit of 100,000 baht, a maximum of 20 million baht, excluding interest on for individuals Deposit 11 months

In addition, if you look back at the deposit data of the commercial banking system The latest from the Bank of Thailand (BOT) found in September 2022 that the number of customer accounts increased by 119,535,556 accounts, representing 16.61 trillion baht in deposits .

Compared to the same period in 2021, the number of accounts was 111,573,563, representing 15.92 trillion baht in deposits.

For the savings base, the number of accounts is 108 million accounts from the original 100 million accounts, the limit is 11.49 trillion baht, compared to the same period of 2021 at 10.80 trillion baht.

Although fixed deposit accounts for more than 3 months – 6 months are 867,461 accounts, the deposit limit is 748,112 million baht, compared to the same period in 2021, the deposits are 849,164 accounts, the deposit limit is 611,840 million baht.

Reflecting on the image that banks began to raise more deposits In particular, special fixed deposit products are issued. tax-free deposit Because they want to maintain their existing deposit customer base, not to flee to deposit money in the state bank savings lottery. As well as receiving interest, there is also a downside to winning prizes.

This corresponds to information from the “Kasikorn Research Center” indicating that the number of special deposit campaigns has been overcrowded since last October.

The new special deposit campaigns of commercial banks and SFIs totaled more than 20 campaigns, most of which were launched by large and small commercial banks.

which, although part of it may be published to compensate the Maturity Deposit Campaign project or prepare to be due But deducting those factors, there are signs of speeding up the launch of deposit campaigns.

In addition, the newly launched campaign offers a higher rate of return of approximately 0.36-1.00% compared to the campaign launched in June 2022.

In addition, deposit interest rates are expected to increase faster. This was driven by the increase in the policy rate and commercial banks’ interest rates. (Ahead of the timetable for increasing the rate of contributions to the FIDF by 0.23% at the beginning of 2023)

Therefore, it is likely that the deposit rate will increase by more than 0.50% within the first quarter of 2023.

Regarding the deposits of the domestic registered banking system at the end of 2022, it is expected to be around 3.5-3.7% (vs. 4.0% at the end of 2021 and 3.6% at the end of September 2022), before increasing slightly. within a range of 4.0-5.5% in 2023

according to the economic direction that should gradually recover and prepare liquidity to support loan growth

There are many types of deposit interest rates, generally depending on the deposit period and withdrawal conditions, for example, a savings account interest rate that can withdraw money at any time. The interest rate will be lower than the interest on fixed deposits for 3 months or 6 months.

Although fixed deposits, even with high interest rates But if withdrawn before maturity, interest may not be received at the rate published by the bank.

Therefore, when choosing to save, we must look at what type of deposit is suitable for us. because in addition to receiving interest as expected it should not be too burdensome and it can be withdrawn for expenses in case of emergency or necessity ….


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