SCB doubles flood credit lines
Siam Commercial Bank (SCB) has doubled the credit lines for flood-affected clients to Bt20 billion, as the impacts from the disaster has escalated.
Vichit Surapongchai, SCB Executive Chairman, said “SCB is concerned about the severe situations affecting clients in all sectors due to widespread flood damage, so we have come up with extra measures and “with immediate effect” in addition to the urgent flood assistance introduced earlier. An SCB Board meeting today has approved in principle increasing our assistance budget to Bt20 billion and is ready to increase it further as necessary. SCB is committed to fully assisting flood-hit clients. We believe that assistance measures for our clients and flood victims during the time of hardship will help all stakeholders get through this crisis together.”
Retail clients
Qualifications: Clients with good repayment records
Home loans
Grace period for up to 6 months, with interest reduction up to 50% for 3 months
Increase credit lines up to 120%, with 0% interest for 3 months
Credit cards and Speedy Loans
Grace period with interest reduction up to 50% for 3 months
Car loans
Grace period for up to 3 months
SME/SSME clients
Grace period for 6 months (and renewal for another 6 months as necessary)
50% interest reduction for 3 months
Increase overdraft (O/D) lines up to 20%
SME clients get 3-year recovery loan, with first year interest at 5% and MLR-1% for the following years.
