BANGKOK, Thailand – Krungthai Bank has launched “Khun Soo Rao Chuay” or “You Strive We Support Phase 2,” a debt relief program responding to government policy on household debt. The initiative adjusts conditions and adds new measures to assist vulnerable retail and Small and Medium-sized Enterprise (SME) customers who have not yet defaulted on loans, aiming to prevent them from accumulating bad debt.
Suripong Tantiyanon, Chief Retail Banking Officer at Krungthai Bank, announced that the program is designed to help customers maintain stability and retain essential assets. The program targets both non-performing loan (NPL) clients and those showing signs of financial weakness.
One measure, “Pay Directly, Keep Assets,” assists home and SME loan debtors by reducing installments for three years. During this period, payments will cut the principal balance directly. Suspended interest may be waived if clients meet conditions, such as timely payments. Another measure, “Pay, Close, Finish,” expands the debt ceiling for individuals with NPL status on both unsecured and secured loans to help them close their debts faster. A new measure called “Pay, Cut Principal” restructures small, unsecured NPLs, with payments applied directly to the principal.
The bank emphasized its commitment to the Bank of Thailand’s Responsible Lending guidelines. Customers interested in the program can register from July to September. Registration is available at any Krungthai Bank branch or through the websites of Krungthai Bank and the Bank of Thailand. For more details, customers can contact the Krungthai Contact Center or the Bank of Thailand’s hotline. (NNT)
