Nation Thailand
Krungthai and EXIM Bank expand aid for flood-hit borrowers
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Krungthai Bank and the Export-Import Bank of Thailand (EXIM Bank) have introduced financial relief measures for customers and businesses affected by heavy rain and flooding, offering lower interest rates, reduced repayments, debt extensions and addit
Key facts
- Krungthai is allowing customers with existing home loans and Krungthai sSME term loans to have their monthly repayments reduced by 75% for one year.
- The interest rate on these loans will be reduced to 0% for the first three months, followed by a fixed rate of 2.5% a year for the next 33 months, providing special rates for a total of three years.
- Customers with personal term loans can also receive a 75% reduction in monthly repayments for one year, with interest fixed at 4.5% a year for three years.
- Krungthai’s measures cover retail borrowers and small and medium-sized enterprises (SMEs), including existing borrowers and those seeking additional financing to repair homes or restore businesses
- Home-loan top-ups, home equity loans and sSME term loans will carry 0% interest for the first three months, followed by a fixed rate of 2.5% a year for 33 months
- Personal term loans under the recovery measures will carry a fixed rate of 4.5% a year for three years.
Summary
Krungthai’s measures cover retail borrowers and small and medium-sized enterprises (SMEs), including existing borrowers and those seeking additional financing to repair homes or restore businesses. EXIM Bank, meanwhile, is providing repayment flexibility and extra working capital to affected business customers.
Krungthai is allowing customers with existing home loans and Krungthai sSME term loans to have their monthly repayments reduced by 75% for one year.