Banks signal higher interest rates on the horizon

Published by
The Bangkok Post

Move in response to rising financial costs Banks have indicated higher interest rates are planned for mortgages and auto loans in response to rising financial costs and a policy rate hike. However, all banks have maintained their benchmark loan rates. Nathapol Luepromchai, executive vice-president of Bank of Ayudhya, who heads the bank’s mortgage division, said banks have begun to stop offering two-year and three-year fixed-interest rate campaigns, switching to fixed rates for 12-month and six-month periods. He said this move is in line with the upward trend of interest rates. Analysts expect …

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