The State Savings Bank, Bangchak Corporation Public Company Limited and Dhipaya Group Holdings Public Company Limited signed a memorandum on lending land and resale business, created a new organization for the control of lending.
The goal is to help entrepreneurs of small and medium-sized businesses and the general public to get access to a source of financing on favorable preferential terms and have fair loan terms to help reduce informal debt problems and create competition in the land lending market.
It is expected that the organization will be ready to work in the third quarter of 2022. The interest rate on land loans will be 7-9% at the first stage, after that, by the end of 2022, it is necessary to expand the consignment business before applying for a non-bank business license in 2023 to continue doing business on lending to individuals.
The goal for the first year is to provide loans in the amount of 10 billion baht. This support measure should strengthen the recovery of the country's economy and the well-being of citizens.