The reductions were effective yesterday. Earlier, only TMB Bank and Bank of Ayudhya had reduced rates on their three-month and longer-term deposit accounts.

The move marks the second round of cuts by large-sized banks amid a downward trend in interest rates.

Kasikornbank's three-month rates are now 3.25 per cent to 4.25 per cent, from the previous 3.50 per cent to 4.25 per cent. The deposit rate on its Bt3 million-Bt5 million accounts is now set at the same rate as Bt1 million-Bt3 million accounts.

The bank's six-month and 12-month rates are now 3.5 per cent and 4 per cent, respectively, from the previous 3.75 per cent and 4.5 per cent. The rate on deposits of up to Bt1 million is now the same as that on the Bt10-million account. The rate on 24-month and 36-month accounts is now 4 per cent, from 4.25 per cent.

Siam City Bank is also revising its fixed-deposit rates from Monday. It is cutting its six-month deposit rate from 3.75 per cent to 3.5 per cent, while the 12-month deposit rate is to fall from 4 per cent to 3.75 per cent.

The 24- and 36-month rate is to be reduced to 4.25 per cent from 4.5 per cent.