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Bot warned caution Trap Covid period 19 shows interest for 6 months, always walking. Suggesting that if you pay, you should do it as usual every month
Apr 11 63 Facebook Bank of Thailand OR Bank of Thailand He explained the suspension measures for the payment of principal and interest of commercial banks. And specialized state financial institutions Explaining to the public that Debt relief measures at this time are only a postponement of the payment schedule. But as for the interest it keeps walking. Therefore, it does not help to reduce the debt burden.
The BOT also establishes that the alternatives for the debtors in the period of effect from Covid 19 Financial institutions have measures to help alleviate debt repayment in order to reduce the burden in many ways, such as capital suspension. Or suspend the payment of principal and interest. Let’s see the practical results of the 6 months after the event, under various options, how will the financial charges be in each case?
In the first case, pay in installments as usual, assuming you owe a 1,000,000-baht home and have a 10,000-baht-per-month mortgage loan repayment period, consisting of 4,000-baht principal and interest of 6,000 baht, we still pay the usual 10,000 baht per month as before. It will reduce the capital for 6 months. The amount of the debt is only 976,000 baht. Therefore, if someone is in debt and is affected, you can contact the creditor bank to request assistance, which will allow us not to pay the debt as promised. What is not considered a default payment AND not lose history
In the second case, the principal of the suspension is that the financial institution is lenient so that we do not have to pay the principal as scheduled. From the original example Suppose we choose to pay the principal for 6 months, we normally pay 10,000 baht per month, leaving only the interest of 6,000 baht per month and because we pay interest every month Causing the debt not to rise There are still 1,000,000 baht of equal debt left .
The third case, the suspension of the payment of principal and interest is not obliged to pay both principal and interest to the bank during the grace period. From the original example Of having to pay 10,000 baht, not having to pay the bank Because financial institutions are lenient with us “There is still no need to pay fees” for both principal and interest payments. That it is not considered “Default payment” that we will not lose the history in the database of the credit agency. But the interest of 6,000 baht per month, not paid for 6 months, keeps walking And it went to increase the total debt to 1,036,000 baht
But if someone can still pay the debt, they should pay the debt as always, because various measures to facilitate debt repayment are just a deferment. To reduce expenses only during this period, and as for interest, keep walking. reduce the burden of our debt.
