Thai Central Bank instructed to review interest rate caps on personal loans

13 Sept 11:50 Key points summarised by AI

Prime Minister Prayut Chan-o-cha instructed the Bank of Thailand (BoT) to review interest rate caps on various personal loans, including credit cards and vehicle leases.
The directive aims to ease the debt burden on citizens, especially teachers and students, as household debt has surged to 89.3% of GDP following the COVID-19 pandemic.
The cabinet discussed establishing a new organization to oversee vehicle leasing and microfinance, and a center to mediate debt disputes, targeting non-bank lenders charging high interest rates.

New home loan scheme aims to boost property sector with Bt125 billion

Yesterday 11:38 Key points summarised by AI

The Cabinet approved a new Bt50-billion 'A House for Each PLUS' home loan scheme from the Government Housing Bank, offering up to Bt3 million with 40-year repayment terms for low- and middle-income earners.
This initiative aims to significantly boost the property sector and national economy, projecting to generate Bt125 billion in economic activity and create jobs.