Bangkok--4 Oct--KASIKORNBANK
KASIKORNBANK has introduced relief measures for flood-hit customers in 27 provinces, reducing monthly installments, interest rates, and postponing the principal on repayments, in order to help increase liquidity for customers. Those who are severely impacted by the floods may apply for new loans to help restore their businesses. Interested customers can apply to participate in the program by October 31, 2013.
According to KASIKORNBANK President Mr. Teeranun Srihong, current flooding has impacted a number of KBank’s retail and corporate customers in 27 provinces hit by the floods. In light of this, KBank has introduced special assistance measures. For K-Home Loan customers, the Bank will reduce monthly installment payments by up to 40 percent of the usual repayment, or customers can choose to repay just the interest on loans for six months. Additionally, the Bank offers a new credit limit for home renovations by up to 100 percent of the current home loan limit that had been paid, with up to 15 years for credit terms.
For K-Credit Card and K-Express Cash customers impacted by the floods, their annual interest rate will be reduced by 50 percent for a period of three monthly statements, October — December 2013. Retail customers can contact KBank to participate in the program at any branch or K-Contact Center by calling 0 2888 8888 until October 31.
For SME and large corporate customers, KBank is providing a variety of assistance measures. They can choose to make just interest repayments for three months in order to assure some measure of business liquidity. Customers with credit limits under international trade financing or P/N can also choose to pay only the interest for three months.
In case of customers and their trade partners whose stocks have been severely affected by flood damage, and who are having difficulty receiving payment for trade receivables the affected customers can request a postponement of both interest and principal repayments. As well as this, if customers need additional credit for liquidity or to replenish goods for new inventory, KBank will offer new three-year credit line for business restoration, wherein they can pay only the loan interest for up to six months. Impacted corporate customers can contact KBank to participate in the program, directing enquiries to their relationship manager (RM) or K-Biz Contact Center by calling 0 2888 8822.
Mr. Teeranun added that these assistance measures were intended to alleviate our customers’ burden during this difficult period, in the hope they will be able to return to their normal course of business as soon as possible, in accordance with KBank’s policy to be always available as the customers’ best business partner.