BANGKOK, 17 May 2015 – The new government pawnshop (25th branch) opens at 73 Phet Kasem Alley, on Phet Kasem Road, in Nong Khaem District, Bangkok with one-month interest-free loans offered to celebrate its opening as well as to relieve financial burdens of parents with low income during a new school semester.
According to Wichian Chaowalit, Permanent Secretary for Social Development and Human Security, there are 29 government pawnshops throughout Bangkok, nine more branches in Nonthaburi, Pathum Thani and Samut Prakan Provinces and 1 pawnshop in Rayong Province.
The Ministry has plans to open more branches, as well as move some existing branches to new locations. This newly opened 25th branch is one of those under removal plans due to their limited space making them unable to improve service for customers. All new branches will be equipped with modern systems to provide faster services.
The Ministry’s pawnshop expansion policy is being imposed to create easier access to the government financial service for Thais and to prevent them from turning to unconventional creditors or other financial institutions which impose high interest rates.
Low-interest loans are now offered at government pawshops nationwide with the lowest interest rate of 0.25 percent per month for loans not exceeding 5,000 baht.