Cheaper debts and payments falls
PUBLISHED: 31 Mar 2025 at 03: 36
Eight state-owned bankers have introduced reduction steps for victims of the earthquake including debt settlement disqualification and low-interest loans, says assistant state official Anukul Prueksanusak.
He said monetary steps are for both individuals and businesses affected by the earthquake to provide them with instant relief and aid them keep their lives and company procedures.
The financial institutes are the Government Housing Bank ( GHB), SME Development Bank ( SME D Bank ), Thai Credit Guarantee Corporation (TCG), Export-Import Bank of Thailand ( Exim Bank ), Bank for Agriculture and Agricultural Cooperatives ( BAAC ), Government Savings Bank ( GSB), Islamic Bank of Thailand ( IBank ) and Krungthai Bank.
GHB has many programs offering loan repayment punishments, low-interest funding for home inspection as well as a fast-track for reimbursement claims for both current and new customers.
SME D Bank’s support measures include suspending principal and interest payments for up to 12 months and incident loans up to 100, 000 ringgit for individuals and 200, 000 ringgit for businesses with no credit required to ensure proper guidance.
TCG has introduced a six-month expulsion of expenses for SME clients and a three-month payment wait for businesses in debt restructuring programs.
Exim Bank’s relief measures are for both short-term and long-term loan customers and include extending repayments, increasing credit limits and cutting interest rates.
BAAC has allocated a fund of 20 billion baht to provide emergency loans up to 50, 000 baht per individual and rehabilitation loans up to 500, 000 baht per client with special interest rates.
GSB has a debt repayment suspension programme for up to three months and a soft loan for home repair and business rehabilitation for new and current customers.
IBank has introduced a principal and interest repayment suspension for up to six months and a loan programme for home repairs and business rehabilitation up to five million baht with a special interest rate.
Krungthai Bank’s relief measures include a 75 % reduction in loan repayment for one year and loans with special rates for business recovery and home repairs.
” The government is committed to providing assistance to victims particularly those whose homes and business were affected. The state banks are expediting programmes to cover all groups”, said Mr Anukul.