Bangkok--30 Jan--CIMB Thai
Mr. Visit Phuengpornsawan, Managing Director of CIMB THAI AUTO, car loan service provider in the group of CIMB THAI Bank, responses to the policy of the Bank of Thailand by announced the cancellation of debt collection fees to help reduce the burden on the public and increase fairness for customers. The company itself also has a debt collection management team who analyze and adjust strategy in order to be fair and suitable for consumers on a regular basis.
"According to the BOT's policy for financial institutions to improve interest rates and fees to reduce the burden of the people such as early redemption for loan fees by calculate the fine from the remaining principal, formerly calculated from the original principal amount. For calculating defaulted interest on installment payments (installment) that the debtor has defaulted. Only the principal amount of that installment, formerly calculated from all remaining principal. This change will ensure fairness for consumers appropriately. The BOT came down to look after consumers closely is a good thing that CIMB THAI AUTO is ready to cooperate. We consider that this cancellation of the debt collection fee is an additional gift given to the company's customers as well." Mr.Visit said.
Formerly, CIMB Thai Auto collects debt collection fees, depending on the number of overdue installments beginning at 1,000 baht and a maximum not over 15,000 baht. The announcement of cancellation of debt collection fees effective from 13 January 2020 onwards. For more information, please contact 02 684 6500.