BAAC rolls out measures to help clients hit by impact of Covid-19
The Bank for Agriculture and Agricultural Cooperatives (BAAC) will offer a debt moratorium from six months up to a year to clients who are farmers, cooperatives, village funds or agricultural communities which have had debts with the bank as of April 1, 2021, in a bid to alleviate the financial burden of its clients amid this severe third Covid-19 wave.
“We estimate there are about 2.82 million clients who will benefit from this measure,” said BAAC manager Thanarat Ngamwalirat on Tuesday.
“Clients can choose a moratorium period from six months to one year on a voluntary basis. During this period they will have to pay only interest and not the capital.”
Thanarat said the BAAC would also offer emergency loans of THB10,000 per person to prevent its clients from going to loan sharks.
“The emergency loan will have a 0.35 per cent monthly interest rate, six months grace period and require no collateral. Clients will need to pay back the loan in three years,” he added. “The bank has earmarked THB10 billion for this campaign.”
Both programmes will run until December 31.
To apply for a debt moratorium or emergency loan, visit www.baac.or.th, Line official account BAAC Family or call 02 555 0555.
