Bangkok--2 Jun--KBank
KBank launches two assistance measures for customers facing economic hardship 40-percent reduction in housing loan installment payments for one year, and exempting water, electricity and land-line telephone service bill payment fees for one year
KASIKORNBANK has launched two assistance measures for customers amid the current economic recession, featuring a 40-percent reduction in housing loan installment payments, and exemption from bill payment fees at counter and electronic channels, affecting two expenses seen as necessities for living. Both measures will be in place until the middle of next year.
Dr. Prasarn Trairatvorakul, KASIKORNBANK President, stated in an interview that KBank has announced the reduction in K-Home Loan payments by 40 percent in order to assist our customers amid the current economic slowdown. Eligible customers will be those with a housing loan of no more than 2 Million Baht, because that group is the most vulnerable to some adverse effects of the recession. They can choose a package to cut installments by 40 percent from the normal payment for one year, from July 2009 to June 2010. For instance, some customers with a current monthly installment payment of 10,000 Baht can choose a monthly payment of only 6,000 Baht.
The above reduction in installment payments will allow our K-Home Loan customers to maintain sufficient cash for spending on other necessities, or to lessen their family burden caused by limited income, allowing them to keep their valued residential assets. New customers currently applying for K-Home Loan will be eligible for a reduction in their housing loan installment payments as well, in order to keep the monthly payments at a manageable level.
In addition, KBank has announced exemption from bill payment fees for some basic utilities, i.e., water, electricity and land-line telephone service, for customers, effective from July 15, 2009 to June 30, 2010. The customers can choose any service channel at their convenience, including K-Cyber Banking, K-MOBILE BANKING, K-ATM (more than 5,760 terminals nationwide) or any of the more than 700 branches across the country.
Dr. Prasarn Trairatvorakul added that the reduction in monthly installment payments for K-Home Loan, and exemption from bill payment fees for basic utility charges, are aimed at reducing the hefty financial burdens of our customers and society in general. These expenses are seen as necessities for all. KBank’s assistance measures are in response to the government policy of encouraging financial institutions to help people reduce their financial burdens in any possible way.