0.25% reduction in MRR interest.

Prime Minister Setha invited the heads of the four major banks as representatives of the Thai Bankers Association to discuss and ask for help in reducing interest rates. Offered to Vulnerable Groups and SMEs Last week and finally the Thai Bankers Association and the State Bank Association came out in response to the policy by reducing the prime retail customer interest rate, or MRR interest rate, by 0.25% per annum, with Bangkok Bank the first to initiate the cut. Last Friday

A question has arisen that the MRR interest rate has decreased in the bank. What is interest? What types of loans are used? And which borrowers will benefit the most from this reduction?

However, MRR interest (minimum retail rate) is a floating interest rate that banks charge from good retail customers. It is mainly used to calculate interest rates for borrowers buying houses, houses and personal loans.

Different from MLR interest (minimum lending rate) which is the prime interest of commercial banks. Collateral has a good financial history collected from large, good clients. Often used with long-term loans with a fixed term. Generally, MRR interest is higher than MLR interest because it is used for riskier loans.

As of April 26, the Bank of Thailand website reported that the average MRR interest rate for commercial banks registered in Thailand was 8.05% per annum, the lowest rate was 7.3% per annum, and the highest rate was 10.15% per annum.

So, we have to see what is beneficial in the “Personal Loan” category. Calculate the interest based on our loan MRR interest from the bank, yes or no? As personal loans use multiple types of interest, with an interest ceiling of not more than 28% per annum, MRR is calculated when the interest is reduced,​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​ Our interest rate will also decrease

After getting fixed interest mostly during home interest. This is a special low rate of interest, for the first 3 years, the borrower will continue to pay the floating rate of interest. How much MRR-X interest is deducted depends on the borrower's own risk There is also a final category for vulnerable borrowers and SMEs, which by definition are borrowers with an income of less than 20,000 baht per month and small SMEs.

If the MRR interest is reduced by 0.25%, how much will the interest be reduced? If we borrow 1,000,000 baht, we will get an interest reduction of 2,500 baht per year, which is an interest reduction of 0.25% per year, but as announced, a special reduction for 6 months equal to an interest reduction of 1,250 baht.

When will the interest be reduced? On what date will our lending bank issue notification? If the borrower fulfills the conditions, it will automatically be reduced immediately. But if any borrower thinks you should reduce the interest yourself. Or not sure if you got a discount or not? After the bank has officially announced the interest rate cut, inquire with the borrower's bank.

Mr. B