Banks offer monthly instalments cut

Kasikornbank has launched two assistance measures for customers amid the current economic downturn.

On is reducing housing loan payments by 40 per cent, and the other is exempting fees for bill payment at counters and through electronic channels.

The two expenses are seen as necessities for living.

Both measures will continue until the middle of next year.

KBank president Prasarn Trairatvorakul said yesterday that eligible customers would be those with home loans up to Bt2 million.

They can choose a package to cut loan payments by 40 per cent for one year, starting next month.

KBank earlier said it would waive transaction fees for some basic utility bills, such as water, electricity and telephone, for its customers, effective from July 15 of this year to June 30 of next year.

Rungruang Sukkirdkijpiboon, executive vice president in charge of retail lending products at Siam Commercial Bank, said his bank has already sent a letter to all mortgage borrowers asking them whether they would like to cut their monthly payments.

They can take off 20-40 per cent depending on their individual debt servicing ability and payment history, but their loan term would be extended.

Siam City Bank has also extended its promotion for customers who buy units in projects that it has financed. They can avail of special low interest rates.