Kasikorn Bank has announced a 0.25% interest rate reduction to assist vulnerable customers for loans referencing floating interest rates for a period of 6 months. This applies to both individual and SME customers under the bank's specified conditions, affecting approximately 200,000 accounts with a total loan amount of around 82 billion baht. The new rates will take effect from May 16, 2024, to support customers during a time when the economy is still recovering. Customers will automatically receive the interest rate reduction without needing to register.

Mr. Rungreung Sukkerdkitpipoon, Managing Director of Kasikorn Bank, stated that due to the ongoing economic recovery challenges, the bank recognizes the economic impacts on customers, particularly the vulnerable groups. Therefore, the bank has implemented a policy to reduce interest rates by 0.25% for loans referencing floating interest rates for 6 months, effective from May 16, 2024. This reflects the bank's concern for its customers and its commitment to helping vulnerable groups recover better, as well as supporting the Thai economy towards balance and sustainable growth. The assistance will benefit approximately 200,000 customers with a total loan amount of about 82 billion baht.

Vulnerable customers of Kasikorn Bank will receive assistance in two groups, with the following criteria:

  1. Individual customers using "Home Loan" or "Home Loan Assistance" products with an approved loan amount not exceeding 2,000,000 baht as of March 31, 2024, and a monthly income not exceeding 30,000 baht based on the bank's assessment at the time of the last loan approval.
  2. SME customers with outstanding loan balances with Kasikorn Bank and revolving credit limits not exceeding 2,000,000 baht as of March 31, 2024, and monthly sales not exceeding 200,000 baht based on the bank's assessment at the time of the last loan approval.

Both groups of vulnerable customers receiving assistance must have a normal debt status and have not received assistance under other bank measures. Additionally, if vulnerable customers use both types of products, both home loans and SME loans, and meet the criteria, they will receive interest reductions on both products. The selection of customers is at the bank's discretion.

Mr. Rungreung concluded by stating that Kasikorn Bank is committed to continuously supporting individual and SME customers in all situations, including during the COVID-19 crisis and the current economic volatility, by proactively assisting customers through various measures to help them overcome every crisis and move forward sustainably together.

Vulnerable customers considered for this assistance program will receive an automatic interest rate reduction without any fees and without the need for registration. The bank will send an SMS notification to the customers (without any attached links) to the phone numbers provided to the bank. For further inquiries, customers can contact LINE @kbanklive, individual customers can reach K-Contact Center at 02-8888888, and SME customers can contact K-BIZ Contact Center at 02-8888822 starting from May 16, 2024.