BANGKOK (Reuters) – Thailand’s central financial institution on Friday launched further debt aid measures, together with rate of interest cuts by 2-Four proportion factors for bank cards and private loans, to assist debtors throughout the coronavirus outbreak.
The utmost rate of interest for bank cards will fall to 16% per yr from 18%, whereas the charges for private loans can be diminished to 24-25% from 28%, efficient from Aug. 1, the central financial institution stated in an announcement.
The brand new charges for revolving loans and instalment loans can be 25% and for auto title loans can be 24%.
The central financial institution will increase credit score strains for bank cards and private loans for some good debtors from August to December.
Lenders should urgently assist debtors with debt restructuring similar to extending cost durations and decreasing rates of interest, it stated.
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