Possible relief measures include allowing borrowers to pay interest only, cutting instalments, reducing interest rates and applying repayments to principal before interest. The central bank said such support should apply across all loan categories, including hire-purchase and leasing for cars and motorcycles, car-title loans and supervised personal loans.
Lenders were also asked to clearly explain the terms of any support measures to borrowers and guarantors, if any, and ensure both parties understand the consequences of joining the scheme.
For new lending, the Bank of Thailand said financial institutions, specialised financial institutions and supervised businesses should consider extending fresh credit to improve liquidity and…