SCB scraps some interest payments.

(From The Nation (Thailand))

Byline: The Nation.

Siam Commercial Bank yesterday said it would no longer pay deposit rates for wholesale customers who deposit large sums in savings accounts, one day after Kasikornbank raised deposit rates.

SCB said that from yesterday it would no longer pay interest to depositors with Bt50 million to Bt1 billion in savings accounts. Previously it had paid 3.25 to 4.25 per cent.

Depositors with Bt50 million to Bt100 million in time-deposit accounts will no longer receive interest payments or will see the payments cut, SCB said. Those who had received rates of 3.25-3.75 per cent will no longer receive interest …