Measures to assist customers affected by COVID-19

We are committed to helping consumers and businesses withstand the effects of the COVID-19 pandemic with supportive measures to alleviate financial burdens and manage challenges arising from the crisis.

 

Credit cardholders

 

  • The minimum payment rate for credit card customers is reduced to 5% (from 10%) until December 31, 2021. This measure automatically applies to all types of Bangkok Bank credit cards without registration.
  • Lower interest rate ceiling of 16% per annum (from 18% per annum), effective from August 1, 2020 onwards. This measure automatically applies to all types of Bangkok Bank credit cards without registration.
  • Temporary extension of credit limit from 1.5 times of monthly income to 2 times of monthly income for customers with good payment history and customers whose average monthly income or average monthly cash flow into their deposit account is below 30,000 baht. The measure is effective from August 1, 2020 - December 31, 2021. (For more information please contact 0 2638 4000 or e-mail : card.srv@bangkokbank.com)
  • Customers can register for a suspension of principal and interest payments for a period of three months with a special interest rate adjustment to 12%.
  • Customers can register to convert their purchases into 48 installments with a special interest rate adjustment to 12%.
  • Customers can register to turn their outstanding debt into an installment with a special interest rate adjustment to 12% and can use the available credit limit with a regular interest rate.

 

Personal loans

 

Revolving loan 

 

  • Customers can apply for a minimum installment payment, based on their payment ability.
  • Customers can apply to turn into a term loan with 48 installments or to extend their payment period, based on their payment ability with an interest rate of up to 22% per annum.

 

Installment loan

 

  • Customers can register to reduce their installment payments by at least 30% with an interest rate of up to 22% per annum.

 

Mortgage loans and home equity loans

 

  • Customers can apply to defer payment of principal and interest for three months or 
  • Customers can apply to defer the payment of their principal (paying interest only) for three months or 
  • Customers can apply to extend their payment period with reduced principal and interest installments.

 

Debt Restructuring (Debt Consolidation)

 

To help retail customers affected by current adverse economic conditions including the COVID-19 outbreak, the trade war and droughts in Thailand

 

Loan applicant qualifications

 

  • Must have mortgage and home equity loan, credit card as well as personal loan under supervision with the Bank
  • Must have mortgage and home equity loan with normal repayment status (non-NPL) as of March 1, 2020

 

Period

 

From September 1, 2020 – December 31, 2021

 

The Bank reserves the rights to apply conditions and provides supportive measures to qualified customers.

 

 

SME business loans

 

Soft loans to support liquidity

 

Loan applicant qualifications

 

  • Be juristic persons or individuals with a business registered, located and operated in Thailand; the business must not be registered within the Stock Exchange of Thailand (SET), excepting the Market for Alternative Investment (MAI)
  • Business operators must have a total credit line with the Bank not exceeding 500 million baht.
  • Repayment status must be normal or not more than 90 days overdue (not yet an NPL) as of December 31, 2019.

 

Loan Details

 

  • Able to borrow loan up to 20% of outstanding balance as of December 31, 2019
  • Fixed interest rate of 2% per annum for 2 years with 0% interest for the first 6 months
  • Loan applications are valid until April 18, 2021 or until the loan credit is completely allocated.

DR BIZ program

 

Effective from September 1, 2020 - December 31, 2021.

 

  • For debtors with total credit lines with all financial institutions of 50-500 million baht
  • Debtors must have loans with normal repayment status (non-NPL) or NPL with financial institutions as of January 1, 2019 and prove that they have been affected by the economic situation and COVID-19 pandemic
  • Debtors must not be prosecuted unless the creditor withdraws the case

 

Debt restructuring

 

  • Reducing monthly installments, extending the repayment period and / or adjusting the debt payment conditions to accommodate the debtor’s business situation
  • Setting an appropriate grace period and repayment period
  • Reviewing the remaining credit limit

 

New loans

 

  • The banks jointly consider making new loans to potential debtors with a good repayment records and solid business plans

 

Soft loans to support liquidity in tourism sector

 

Loan applicant qualifications

 

  • Thai citizen or juristic person registered in Thailand with Thai nationals holding shares of more than 50% of the registered capital.
  • SMEs with characteristics as specified in the Ministerial Regulations on the Designation of the Characteristics of Small and Medium Enterprises Promotion Act B.E. 2562.
  • Those operating businesses in the tourism-related manufacturing, service and commercial sectors, and supply chain sectors directly or indirectly affected by the COVID-19 pandemic.

Loan limit per SME
Not exceeding 20 million baht (from all financial institutions) when combining the following:

 

  • Soft loan measure of 55 billion baht for SMEs directly or indirectly affected by the COVID-19 pandemic
  • Soft loan measure of 10 billion baht for SMEs directly or indirectly affected by the COVID-19 pandemic
  • The Government Savings Bank (GSB)’s soft loan measure of 15 billion baht for SMEs directly or indirectly affected by the COVID-19 pandemic

 

Loan applications are valid until December 30, 2020 or until the loan credit is completely allocated.

 

For more information, please contact our relationship officer at business center you borrowed the loan.

 

The Bank reserves the rights to apply conditions and provides supportive measures to qualified customers.

 

 

View details in our news below

July 7, 2020

Bangkok Bank responds to BOT’s phase two relief measures to help retail customers affected by the COVID-19 outbreak

May 20, 2020

Bangkok Bank cuts key lending interest rates to a minimum of 5.25% to support government mechanisms while reducing financial costs for customers

May 13, 2020

Bangkok Bank continues submitting soft loan applications to the BOT. First batch of soft loans reach customers affected by COVID-19, increasing liquidity and helping them to retain employees

April 28, 2020

Bangkok Bank is ready to offer a “loan payment holiday” and credit support for SME customers affected by the COVID-19 outbreak. The Bank has already submitted requests for soft loans to the BOT.

April 9, 2020

Bangkok Bank reduces interest rates for all three types of loans by 0.40% to help ease the financial burden of customers and reduce costs to help them deal with the COVID-19 outbreak

April 8, 2020

Bangkok Bank supports the BOT’s measures to help SMEs both in terms of liquidity loans and suspension of principal and interest payments to reduce the effects of the COVID-19 outbreak

March 27, 2020

Bangkok Bank provides supportive measures to those affected by the COVID-19 outbreak by lowering the minimum payment threshold, reducing interest, and implementing a 3-month debt suspension scheme for retail and SME customers

March 23, 2020

Bangkok Bank cuts interest rates to reduce financial costs for customers during the COVID-19 outbreak

March 6, 2020

Bangkok Bank expands its supportive measures to cover businesses affected by adverse economic conditions

February 5, 2020

Bangkok Bank issues measures to assist customers affected by the novel coronavirus outbreak

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