Those who have entered the NPL status will be helped to repay their debts within five years, and the banks will reduce their interest rate to 15% per annum.
Meanwhile, penalties for repaying early will also be waived for those who have entered the debt restructuring programme, Phayong added.
He said customers can call their banks to seek advice on debt restructuring.
Phayong added that the TBA would create a database of alternative credit information, such as records of utility service payments and vendors income, to allow those without normal credit to obtain bank loans, so they would not have to opt for high-interest loans from lenders outside the system or loan sharks.
The TBA will also have its members advise customers on financial d…
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