Economy
Krungthai Bank Announces Flood Relief Measures for Customers
Krungthai Bank has introduced a relief package for flood-affected customers, featuring significant installment reductions and interest rate adjustments for home, personal, and SME loans.
According to a report by Khaosod Online Thailand, Krungthai Bank has launched a series of financial relief measures aimed at supporting customers impacted by recent flooding. The initiative is designed to alleviate the immediate financial burden on individuals and business owners.
For existing home loans and SSME business loans, the bank is offering a 75% reduction in monthly installments for one year. Additionally, interest rates will be set at 0% for the first three months, followed by a fixed rate of 2.5% per annum for the subsequent 33 months, providing a total of three years of special interest terms. Personal loan holders (Term Loan) are also eligible for a 75% reduction in installments for one year, with a fixed interest rate of 4.5% per annum applied over a three-year period.
For residents and business owners in Thailand, these measures may provide necessary liquidity during the recovery phase. However, the specific eligibility criteria for these programs and the application process for individual cases remain to be confirmed directly with the bank. Those affected by the floods are encouraged to contact Krungthai Bank branches or official channels to verify their status and understand the full scope of the assistance available for their specific loan types.
