One-third of Thai depositors have a deposit balance below 500 baht, and 50% of them have a balance below 3,124 baht.
Meanwhile the combined deposits of the largest 10% of depositors account for 93% of commercial banks’ total deposits, according to the Puey Ungphakorn Institute for Economic Research (Pier), the Bank of Thailand’s think tank.
This means a high concentration of deposits and low savings for many Thais, as 0.2% have deposits of more than 10 million, said Atchana Lamsam, head of networking and communications for Pier.
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Bank of Thailand (BOT) has ordered commercial banks to revise their interest rates, and the fees they charge for their financial products and services including ATM and debit card fees
Good news for the general public and SMEs as the Bank of Thailand (BOT) has ordered commercial banks to revise their interest rates, and the fees they charge for their financial products and services, including ATM and debit card fees, to help reduce the burden borne by customers.(more…)
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