Krungsri reducing lending rates by 0.25% for six months
Krungsri (Bank of Ayudhya PCL) has announced an assistance measure in response to the Thai Banker Association (TBA)’s guidelines to alleviate pressure on vulnerable groups. The measure aims to reduce the lending rate by 0.25% for both retail and SME customers who meet the bank’s vulnerability criteria, extending this measure for six months. The measure will be effective from 16 May 2024 – 15 November 2024.
Mr. Kenichi Yamato, Krungsri President and Chief Executive Officer, reveals “As a Domestic Systemically Important Bank (D-SIB), Krungsri realizes its role in upholding economic and business growth while adhering to responsible lending practices and social responsibility. With our commitment to supporting customers, individuals, and SMEs, the Bank stands ready to respond to the TBA’s call for additional assistance. Accordingly, the Bank will reduce the lending rate using MRR, MLR and MOR as the benchmark by 0.25% for six months, aiming to alleviate the financial burdens faced by vulnerable customers.”
The assistance measure will be offered to vulnerable customers meeting the following criteria:
1. Mortgage loan customers: Existing customers with a total loan of 2 million baht or less (data as of 31 March 2024) and a monthly income of 30,000 baht or lower (based on bank’s evaluation per latest credit approval)
2. SME customers: Existing customers covering both individual and juristic persons with a credit limit of 2 million baht or lower (data as of 31 March 2024) and a monthly sales turnover of 200,000 baht or lower (based on bank’s evaluation per latest credit approval)
The vulnerable customers need to have a normal payment status and no overdue. The measure will be effective from 16 May 2024 – 15 November 2024. The lending rate will be adjusted automatically for the vulnerable customers. Registration is not required. The Bank reserves the right on customers consideration and approval.
For more information, log on to www.krungsri.com, contact Krungsri Call Center 1572. For SME customers, call 0 2296 6262 or 0 2626 2626.
