Post by account_disabled on Dec 24, 2023 4:19:49 GMT -5
Mr. Rathian Srimongkol, Chief Executive Officer of “KTC” or Krungthai Card Public Company Limited, revealed that “from the situation of the spread of the COVID-19 virus. which still has high uncertainty and has a wide impact on the economy. The Company has joined in supporting the measures of the Ministry of Finance and the Bank of Thailand (BoT) to provide credit assistance to affected members with full force and continuously. Covers both credit card members Personal loan members and KTC car title loan members, more than 3.5 million accounts nationwide. Most recently, from August 1, 2020 onwards, the company will reduce the interest ceiling and credit line usage fees.
According to the rate specified by C Level Executive List the Bank of Thailand. Members do not have to report their wishes to the company as follows: All types of KTC credit cards. The interest rate including the credit line usage fee is 16% per year. For the “KTC PROUD” cash card and the “KTC CASH” multi-purpose loan, the interest rate including the maximum credit line usage fee is 25% per year.” “In addition, the company has reduced the credit card installment rate from the original 10% to 5% from April 2020 - 2021, 8% in 2022 and 10% in 2023 onwards, for personal loan debtors.” KTC PROUD currently receives a minimum installment payment rate of 3%, which is already within the guidelines for assistance.
Including helping small debtors directly affected by the outbreak of the COVID-19 virus, such as changing loans to long-term loans, reducing installment payments by 30%, etc. by extending the time to provide assistance until December 31, 2020. Information as of June 30, 2020, approximately 4,000 debtors have participated in changing to long-term loans under the Company's assistance measures, with a debt value of approximately more than 300 million baht, and there are 90 debtors requesting a suspension of debt repayment.
According to the rate specified by C Level Executive List the Bank of Thailand. Members do not have to report their wishes to the company as follows: All types of KTC credit cards. The interest rate including the credit line usage fee is 16% per year. For the “KTC PROUD” cash card and the “KTC CASH” multi-purpose loan, the interest rate including the maximum credit line usage fee is 25% per year.” “In addition, the company has reduced the credit card installment rate from the original 10% to 5% from April 2020 - 2021, 8% in 2022 and 10% in 2023 onwards, for personal loan debtors.” KTC PROUD currently receives a minimum installment payment rate of 3%, which is already within the guidelines for assistance.
Including helping small debtors directly affected by the outbreak of the COVID-19 virus, such as changing loans to long-term loans, reducing installment payments by 30%, etc. by extending the time to provide assistance until December 31, 2020. Information as of June 30, 2020, approximately 4,000 debtors have participated in changing to long-term loans under the Company's assistance measures, with a debt value of approximately more than 300 million baht, and there are 90 debtors requesting a suspension of debt repayment.