Krungsri unveils relief for customers
published : 6 Apr 2020 at 04:30
newspaper section: Business
Krungsri (Bank of Ayudhya Plc) and its subsidiaries have introduced relief measures for customers with mortgages and other loans from the bank such as grace periods on payments for those affected by the Covid-19 outbreak.
For customers with mortgage, personal and business loans, Krungsri Bank will be providing a period of grace on principal repayment of up to 12 months, lower instalment payments for up to 12 months, and a grace period on instalment payments of up to six months.
The bank's assistance measures only apply to customers who do not have debt that is more than 90 days overdue, have been through the debt restructuring process, or do not have a debt in a legal proceeding before Jan 1, 2020.
For commercial banking customers, the bank will offer assistance measures in accordance with impact on a case-by-case basis.
The bank will also offer assistance measures in accordance with impact on a case-by-case basis for Krungsri Auto customers, as well as a grace period on instalment repayment for up to five months for motorcycles and up to six months for cars, and an instalment amount reduction.
For those with credit cards and personal loans from Krungsri Consumer, the bank is offering a reduction of the minimum payment rate.
For personal loan products, the minimum payment rate for all customers will be automatically reduced from 5% to 3% for the billing cycle running from March 18 to Dec 31, 2021, without the need for customers to register.
The minimum payment rate for all customers with credit cards from Krungsri will be automatically reduced from 10% to 5% for the billing cycle running from April 1 to Dec 31, 2021, without the need to register.