New Year’s presents from state banks

 

 

BANGKOK: -- State banks have announced the launch of special campaigns as New Year's presents for low income earners to help stimulate economy.

 

Six billion baht has been set aside for the purpose with hope it will help to improve the purchasing power of poor people during the period. The present will be in the form of interest and capital refunds.

 

Fiscal Policy Office director Krisada Jinawijarana disclosed that state financial institutions such as the Government Savings bank, the Bank for Agriculture and Agricultural Cooperatives and the Government Housing Bank have  joined forces to launch a special campaign as a New Year’s presents for the poor.

 

The campaign will play an important part in supporting the government’s plans to increase consumer purchasing power as the year draws to a close.

 

Elaborating on the campaign, the Bank for Agriculture and Agricultural Cooperatives stated that for customers with good repayment record and has not defaulted on payments for 12 consecutive months, the bank will be making a 30% refund on their total interests.

 

As a whole they expect to be paying 5.7 billion baht in interest deductions to farmers throughout the country.

 

Furthermore, they have also revealed that they will be reducing transfer fees for cross territory ATM transactions from today to January 3 next year.

 

Full story: http://englishnews.thaipbs.or.th/new-years-presents-state-banks/

 

-- © Copyright Thai PBS 2016-12-22

 

 

3 hours ago, webfact said:

for customers with good repayment record and has not defaulted on payments for 12 consecutive months, the bank will be making a 30% refund on their total interests.

 

Nice present it will help a lot of people.

 

But the ones with defaulted payment will need a help too. If they couldn't pay back it's maybe because they have to choose between feed the children or pay back to the bank!

Does anyone know if the SME bank is included on the list?