The Bank of Thailand issued the third phase of its aid for small debtors in trouble with COVID-19 covering extended repayment periods, debt moratoriums, interest reduction and debt consolidation. It will start on May 17.
Ronadol Numnonda, BOT deputy governor for financial institutions stability, said BOT together with financial service providers under eight associations and clubs were helping small debtors and the third phase of aid covered four types of debts.
For credit card debts and personal loans, assistance focuses on extended repayment periods and lower interest rates.
For auto-for-cash loans, debtors will enjoy moratoriums. For auto mortgages, interest rates will be capped for debtors.
For housing loans and loans with houses as collateral, debtors can suspend repaying principal and pay partial interest based on their repayment capacity. (TNA)
