Government Savings Bank sells 49 percent of "Cash Fast" shares back to Srisawat. After pulling down the interest in the car title loan market. according to the target to 16-18 percent per year

Mr. Withai Rattanakorn, President of the Government Savings Bank, revealed that the Government Savings Bank is preparing to exercise the right to sell 49 percent of its shares in Fast Money Co., Ltd. worth 1,500 million baht, returning to Srisawad Corporation Public Company Limited or SAWAD, which is in accordance with the contract between the parties. Hold shares from the start of investment After the Government Savings Bank has invested in Cash Fast Co., Ltd. for 2 years to reduce interest in the motorcycle title loan market by 8-10 percent per year from the original 26-28 percent per year when the project was announced.

At present, interest rates have dropped to 16-18 percent per year, which can still generate profits for entrepreneurs at a reasonable level. And help low-income earners have access to loan sources in the system with cheaper and fair credit costs by Fast Money Co., Ltd. Has approved lower interest loans to people with incomes less than 1.7 million people and expects that there will be benefits from lower interest rates in the car title loan market. is more than 5 million

After selling back the shares, Government Savings Bank and Srisawad Plc. also agreed to sign a business cooperation memorandum The bank will provide credit to Instant Cash Co., Ltd. At an appropriate interest rate, Fast Money Co., Ltd. also releases motorcycle registration pawn loans With a normal interest rate of not more than 18 percent to help low-income people to access credit at an appropriate interest rate

Source: Thai News Agency