KBank Cuts Loan Rates to Ease Customer Debt Burden

Following central bank decision, Kasikorn Bank lowers key lending rates to support customer financial stability and stimulate economic recovery

 

Kasikorn Bank (KBank) has announced a reduction in loan interest rates by up to 0.25%, effective from March 4th, 2025, in a move aimed at alleviating the debt burden for its customers across all sectors. 

 

This decision underscores the bank’s commitment to supporting both businesses and households by lowering their financial costs and improving access to credit.

 

The move follows similar rate cuts from competitors Siam Commercial Bank and Krungthai Bank, prompted by the Bank of Thailand's decision to reduce the benchmark interest rate by a quarter percentage point on Wednesday, February 26th, 2025.

 

KBank Director and President Chongrak Rattanapian stated that in response to the Monetary Policy Committee’s reduction of the policy interest rate from 2.25% to 2.00% per annum, KBank will implement a corresponding reduction in its lending rates. 
  

This measure, he emphasised, reaffirms the bank's dedication to assisting customers in managing their debt and enhancing their financial stability.

 

Furthermore, the rate cut reflects KBank's commitment to supporting Thailand's economic recovery, which continues to face challenges. These challenges include structural issues, increased market competition, and uncertainties in trade policies. 

 

The rate reduction is also intended to bolster consumer purchasing power and improve liquidity for businesses, particularly small and medium-sized enterprises (SMEs), thereby fostering sustainable economic growth.
  

The specific rate reductions are as follows:


The Minimum Overdraft Rate (MOR) will be reduced by 0.25% from 7.34% to 7.09% per annum.
The Minimum Lending Rate (MLR) will be reduced from 7.15% to 7.05% per annum.
The Minimum Retail Rate (MRR) will be reduced from 7.18% to 7.08% per annum.


 

KBank has reiterated its commitment to providing support to customers facing financial difficulties, enabling them to effectively manage their debt obligations. Customers are encouraged to contact the bank through any of its available channels for assistance.

(2025/03/03-00:00)