- KBank has announced a 0.25% interest rate reduction for loans based on floating rates for six months, benefiting approximately 200,000 individual and SME customers with total loans of around Bt82,000 million.
- The reduction aims to provide financial relief during ongoing economic challenges and stimulate sustainable growth in the Thai economy.
- Eligible customers, meeting specific criteria, will automatically receive the interest reduction without the need for registration, reflecting KBank’s commitment to supporting vulnerable customers and fostering economic resilience.
KBank has announced a 0.25% interest rate reduction for loans based on floating interest rates over a 6-month period, effective from May 16, 2024. This reduction, benefiting approximately 200,000 individual customers and SMEs with total loans of around Bt82,000 million, aims to provide financial relief during ongoing economic challenges.
Mr. Rungruang Sukkirdkijpiboon, President of KBank, cited the Bank’s recognition of the economic impact on vulnerable groups amidst the ongoing recovery phase. As part of their commitment to supporting sustainable economic growth, KBank has implemented this policy to alleviate financial burdens and foster resilience in the Thai economy.
The interest rate reduction will support SME customers
The interest rate reduction targets two key groups: individual customers with combined approval limits not exceeding Bt2 million and monthly incomes below Bt30,000, as well as SME customers with outstanding loans and revolving credit lines not exceeding Bt2 million, and monthly sales below Bt200,000. Eligible customers, meeting the Bank’s criteria and having a normal debt status, will automatically receive the interest reduction without any registration requirement.
Mr. Rungruang reiterated KBank’s dedication to standing by its customers, particularly during periods of economic uncertainty, and emphasised the Bank’s proactive approach to providing support through various initiatives. The automatic interest reduction, without additional fees, underscores KBank’s commitment to assisting vulnerable customers and fostering sustainable progress amidst evolving economic challenges.
About KBank
KBank, officially known as Kasikornbank Public Company Limited, is one of Thailand’s largest and most reputable financial institutions. Established in 1945, KBank has a rich history of providing a comprehensive range of banking and financial services to individuals, SMEs, and corporations. With a commitment to innovation, customer service excellence, and social responsibility, KBank has consistently been at the forefront of Thailand’s banking industry, contributing significantly to the country’s economic development and financial stability.
