Bangkok: Kasikornbank has introduced a series of urgent measures aimed at supporting customers affected by the ongoing unrest on the Thai-Cambodian border and severe flooding in the Northern region of Thailand, resulting from Typhoon Wipha. The bank’s intervention includes suspending principal payments, allowing customers to pay only interest for up to three months, increasing credit limits for home and business repairs, and providing additional loans to facilitate recovery and progress.
According to Thai News Agency, Mr. Rungruang Sukkerdkitpibul, President of Kasikornbank, emphasized the bank’s awareness of the difficulties faced by customers impacted by these events. Consequently, Kasikornbank has swiftly implemented relief measures for both individual and business customers to alleviate their burdens and expedite their return to normalcy. The specific relief measures are detailed below:
For individual customers, Kasikornbank offers several options. Home loan holders can postpone principal payments and pay only interest for up to three months. Additional loans for home repairs are available at a 0% interest rate for three months, with no collateral appraisal fee. Credit card holders and those with Xpress Loan and Xpress Cash express cards can also postpone principal payments and pay only interest for up to three months. Car hire purchase loan customers can reduce monthly installments by up to 50% for three months, with an extended installment period.
Business customers can benefit from the suspension of principal payments, paying only interest for a maximum of three months. Additionally, loans for repairing business premises are offered, with a maximum loan period of five years and an interest rate of 3.5% for the first two years. Principal payments can be suspended with the option to pay only interest for up to three months.
Affected customers are encouraged to participate in these measures from now until December 31, 2025. Personal customers can reach out to the K-Contact Center, while business customers may contact their customer relationship manager or the K-BIZ Contact Center. Car loan customers can connect with the KLeasing Call Center for assistance.
Kasikornbank advises borrowing only what is necessary and repayable, with interest rates for additional home loans ranging from 6% to 7% per year. The initial three-month period offers a 0% interest rate, followed by a 6.80% interest rate for the next 33 months. The average interest rate for the first three years is 6.23% per year. Customers are encouraged to review terms and conditions through the K-Contact Center for a comprehensive understanding.