Bangkok--11 Mar--KASIKORNBANK
KASIKORNBANK launches the "3-month 0% K-Express Cash" campaign, targeting corporate workers and customers with regular income, while urging Thai people toward careful spending and on-time debt repayment. A 0-percent interest rate is offered for three months for an outstanding balance of no more than 15,000 Baht. Get the Limited Edition gift from Teddy House when clearing out your debt in three months, now until July 9, 2016.
According to Ms. Noppawan Jermhansa, Executive Vice President of KASIKORNBANK, Thailand's household debt to GDP remains somewhat unimproved, with the largest portion of debt incurred by home and car purchases, credit card usage and consumption. Seeing that the Thais are in control of their financial situation, utilizing credit facility appropriately and as necessary, and being punctual with their debt services, is part of KBank's ambitions. To this end, the Bank is now launching the "3-month 0% K-Express Cash card" campaign", hoping to woo the white-collar workers and those with regular income. Customers applying for this campaign by July 9, 2016, will be pampered with double offers.
Special interest rate of zero percent will be offered to customers using the credit line only as much as needed. Their outstanding balance not in excess of 15,000 Bath will be charged with a 0-percent rate for three months. Normal rates will be applied on any portion of outstanding loan balance exceeding 15,000 Baht and customers are obliged to pay the minimum payment as specified in their monthly statements.
Customers who service their debt on schedule are rewarded with Teddy House Limited Edition piggy bank. To get the Teddy House piggy bank valued at 850 Baht, customers must have an outstanding balance, at the statement date, of 15,000 Baht or more, for 90 days; and the outstanding balance of zero Baht must be achieved at the end of the third month form K-Express Cash approval date. The piggy bank signifies the Bank's aspiration to promote saving for emergencies.
Ms. Noppawan added that the current household debt situation in Thailand has not improved yet, with the 81-percent household debt to GDP in 3Q15. That said, mid- and low-income families are still in need of liquidity for their daily consumption. Bearing this in mind, it is crucial for borrowers to only take out loans when necessary and spend if need be. In doing so, it may help alleviate household debt problem before it escalates into an intractable national issue. K-Express Cash is marketed toward customers having a need for cash to boost their liquidity but are dependable to repay on schedule, thus considered low risk customers. Currently, the Bank has over 700,000 of such customers.