United Overseas Bank (Thai) (UOB (Thai)) has launched a financial assistance programme to help its customers, from retail to small- and medium-enterprise (SME) customers, manage their loan repayments during the COVID-19 pandemic.
UOB and TMRW credit cardholders with good records will now have a lower minimum payment rate[1] of 5.0%, instead of 10.0%, for their UOB credit card balances. The loan interest rate for UOB CashPlus has also been revised from 5.0% to 2.5% from 1 April 2020.
In addition, UOB and TMRW credit cardholders and customers with UOB CashPlus personal loan can request to defer payment for three months or to pay the outstanding balance in up to 48 instalments. Customers with a i-Cash personal loan can request to defer payment for three months. Home loan customers can also request to defer payment for three bill cycles or to pay only the monthly interest for 12 bill cycles.
SME customers can request to defer payment for three months or to waive the principal and to pay only monthly interest for 12 bill cycles for their outstanding loans. To help with their business liquidity, UOB (Thai) is offering its SME customers loans of up to 20 million baht under its Soft Loan programme with a 2.0% interest rate for two years.
Mr. Tan Choon Hin, CEO and President of UOB (Thai), said, “We are committed to supporting our customers, especially during these trying times when people are concerned about the health and well-being of themselves, family members, businesses and employees. We hope that the financial assistance programme can help lighten the load for our customers as we work together with them through the uncertainty to overcome the challenge and adversity.”
For more information, please call UOB Call Centre at 02 285 1555 or UOB Biz Call Centre at 02 343 3555, or visit UOB (Thai)'s COVID Relief Assistance webpage to submit a request form or scan the QR code below.
[1] For UOB credit cards, the minimum payment rate will be adjusted to 5.0% until the end of 2021, to 8.0% in 2022 and back to normal at 10.0% in 2023. For UOB CashPlus, the minimum payment rate will be adjusted to 2.5% until the end of 2022 and back to normal at 5.0% in 2023.
