BOT Ruling Maximum 28% /Year Charge for Car-Lisense Plate-Lone Lending Business.
25-1-2019–Today Bank of Thailand announced to prohibit the Lone Provider business by regulated them not to charge the Vehicle-Lisense plate-Lone over 28%per year interest.The Vehicle-Lisense plate-Lone lending businessoperater must have minimum 50 million baht register capitalwith in one year after the regulation wasofficial announced and become effective, according to Mrs. Vajeetip Pongphet, Assistant Governor Financial Institution Policy, Bank of Thailand (BOT).
Mrs.Vajeetip said before making official announcement to have the rule become effective, BOT is inviting the car-license plate-lone lending business and people interested in hearing the regulation to listen to the regulation to protect people to gain the loan lending on fair basis and the qualification of business operator who can do the loan lending guarantee by customer’scar-lisense-plate.However, when the Bank of Thailand announcement becomes effective Business operators must apply for a business license within 60 days.
