United Overseas Bank (UOB) Thailand has announced a reduction in its maximum loan interest rates by 0.25% per annum, effective from March 10, 2025. This move comes after the Bank of Thailand's Monetary Policy Committee (MPC) lowered its policy interest rate by 0.25% earlier in the month.

As part of this adjustment, UOB Thailand's retail mortgage rate (MRR) will decrease by 0.10% to 8.575% annually.

For the bank's major corporate clients, the lending rate (MLR) for fixed loans will also be reduced by 0.10%, bringing it down to 8.025% annually.

Furthermore, the overdraft interest rate (MOR) for large corporate clients will see a more significant drop of 0.25%, adjusting to 7.850% annually.

This decision by UOB is aligned with the broader trend among various banks in Thailand to reduce interest rates, aiming to alleviate financial burdens on borrowers and stimulate economic activity within the country.

In addition to UOB, other banks such as Bangkok Bank and Krungsri have similarly announced interest rate reductions of up to 0.25% to promote economic growth and support their customers.

The reduction in interest rates by multiple financial institutions indicates a proactive approach to enhance lending conditions as Thailand navigates its economic landscape post-COVID-19.