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SCB increases fixed-deposit rates.
Byline: Darana Chudasri
Mar. 10--Siam Commercial Bank yesterday raised its three- and six-month deposit rates by 0.25 percentage points and one-year deposit rate by 0.50 percentage points to lock in long-term deposits.
The three-month deposit rate is now quoted between 2.75 percent to 3.75 percent depending on the balance. Six-month rates are 3 percent to 4 percent and 12-month deposits pay 3.5 percent to 4.25 percent. As well, benchmark lending rates were raised by 0.25 percent.
Khunying Jada Wattanasiritham, the president of SCB, said the bank wanted to move ahead of the others and give depositors higher returns for their savings.
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