KTC extends measures to help debtors fight COVID-19 Both credit cards Personal loan and KTC super by reducing the interest rate ceiling Change the type of debt, reduce the installment and interest rates.
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On Jan. 21, 64, Mr. Rathian Srimongkol, Chief Executive Officer of Krungthai Card Public Company Limited or KTC, said the company has extended measures to help members affected by COVID-19. By covering both credit card members Personal loan And car registration loans 3.4 million accounts nationwide as follows
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1. Reduce the minimum credit card installment rate from 10% to 5% from March 26, 2020 to December 31, ’21, the rate of 8% in 2022 and the rate of 10% in 2023 onwards. Personal loan receivables, KTC Proud, currently receive a minimum installment rate of 3% which is already in the form of assistance. Which members do not have to notify their wishes to enter the company
2. Change loan for long term. For debtors who are directly affected by the COVID-19 outbreak By credit card debt Converted to long-term personal loan debt, interest rate 12% per year for 48 months. Grace payment for personal loan, long-term interest of 22% per year for 48 months, which members can request for assistance from 21 Jan ’64 – 30 Jun ’64
3. Reduce installments 30% and interest rates up to 22% per annum for 6 billing cycles or 6 installments for members of KTC Cash Multi-Purpose Loan and KTC Sibling Vehicle Registration Loan with normal account status. And no outstanding balance Where members can request for assistance from 21 Jan ’21 – 30 Jun ’64
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As of December 31, 2020, there are groups of debtors applying to participate in restructuring measures with KTC. There is a balance of 813 million baht or about 10,812 accounts.
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