The Bank of Thailand insists that interest rates will not be raised until the end of the year ’65, watch out for 3 groups affected.
Mr. Chatchai Sirilai Managing Director Government Housing Bank (GHB) Revealed that the Bank of Thailand will not raise interest rates on loans with customers until the end of 2022, even though the Bank of Thailand (BOT) by the Monetary Policy Committee (MPC) will raise interest rates. because the bank wants to lighten the burden for the people according to government policy Even if the bank lost more than 1,900 million baht in revenue
However, in 2023, the bank will gradually adjust interest rates in accordance with the market. The installment schedule will be gradually adjusted during the first quarter of 2023. It is expected that if the interest rate is raised by 0.25%, the bank’s customers will be affected by thousands of accounts. But if the interest rate is raised to 0.50%, tens of thousands of customers’ accounts will be affected. But the bank can still manage it. Due to a large group of customers who are affected by such Being a customer with a loan of less than 2 million baht, the repayment rate adjustment will not increase very high.
However, when the interest rate has been raised There are 3 main groups of affected customers, namely, new customers who can borrow with a lower limit. due to having to pay more interest 2. Debtors who are already NPLs and is in the process of debt restructuring which may have more installment burden and 3. Current debtor group who may have more debt repayment burden because the annuity is not enough to cut off the principal and interest
“Please understand that customers Don’t panic when interest rates go up. And it is recommended to see what the loan agreement itself is. If it is a loan with a fixed interest, such as a million houses, it will not be affected. Because the interest rate remains stable for up to 4 years, but if it is a loan tied to the reference interest rate may be affected For debtors with high credit lines, however, the Bank of Thailand has a policy to take care of debtors as much as possible because they have already calculated more flexible installments than other banks. is a loan with a high credit limit but low installment including loans with change that give the loan price more than the collateral The bank is worried that it will be a group that can’t pay installments, and the Bank of Thailand pays attention to this matter,” Chatchai said.
Mr Chatchai said As for the bank’s lending performance, currently as of Sept. 20, it can be credited with more than 197,000 million baht. Confident that this year, the bank will be able to deliver loans as targeted at 300 billion baht. certain while the profit this year is confident that it will meet the target set at 13,000-14,000 million baht and the Bank of Thailand has also adjusted its fundraising plan to issue loans during the rising interest rate. In the past, the Bank of Thailand has issued 18-month high-interest deposit products, bonds or lotteries to be issued. increased more than usual In order to lock the interest rate at a not very high level
while non-performing debt (NPL) increased by 10 billion baht from 59 billion baht to 68 billion baht or 4.41%. Such debtors can be contacted.
As for the progress requesting the Ministry of Finance to extend the time to reduce the amount of money sent to the four state-owned specialized financial institutions development fund from 0.25% to 0.125%, which will end at the end of this year. The Ministry of Finance is ready to consider the matter if it is beneficial to the people. While the trend in 2023 that must be followed is whether the loan will be as hot as this year or not. Including the trend of NPL that has a chance to increase and interest rates that still need to be watched