BAM issued a series of relief measures. Supporting debtors overcome the COVID-19 crisis.

     BAM has released support measures to help our debt-restructuring debtors and installment customers whose ability to repay got impacted by the COVID-19 pandemic. The programs include “Make it through the COVID-19 Crisis with BAM,” “Happy to have your home back,” “BAM revitalizes your SME business,” “NPA Installment Sales,” “Affordable Condominium Sales,” and so forth.

     Mr. Bundit Anantamongkol, CEO of BAM, states that BAM realizes the negative impact of the COVID-19 situation on its debt-restructuring debtors’ and NPA installment customers’ ability to repay. To ease the burden placed on this group of individual debtors, installment customers, and SMEs who have been suffering from the COVID-19 effects, BAM has released financial relief programs in three main measures as follows:

1. Debt moratorium (principal and interest)
2. Debt moratorium (principal and interest) and only repayments of interest afterward
3. Debt moratorium (interest)

     Since the first phase of the COVID-19 pandemic, BAM has assisted our debt-restructuring debtors and installment customers who have been impacted by the pandemic and requested for a waiver of debt-restructuring terms and conditions, to the extent necessary. Moreover, debtors who have never contacted BAM for debt-restructuring negotiations may contact us to negotiate preliminary guidelines to mitigate the impact of the outstanding debt burden.

     Apart from our measures to help customers affected by the COVID-19 pandemic, BAM has also organized the “Happy to have your home back Program” that will enhance the opportunity for debtors to pay off their debt and get their home back. This program, as mentioned earlier, is for debtors of housing loan category with the outstanding principal balance of not more than 10 million baht.

• Pay off 80% in debt of the appraisal value according to BAM’s criteria.
• Choose to pay one time within 90 days or pay installments not more than 20 years. This must not exceed the enforcement period. 
• The interest rate at 0% for the first two years and the interest rates from the third year onwards at MLR per annum

      Remark: Terms and conditions as designated by the company

     The company also has the "BAM revitalizes your SME business" to support the debtors with over 20 million baht outstanding principal balance.

• Pay off 80% in debt of the appraisal value according to BAM's criteria.
• Choose to pay one time within 90 days or pay installments not more than 10 years. This must not exceed the enforcement period.  
• Year 1: interest rate at 0% per annum
• Year 2: interest rate at MLR -1% per
• Year 3: interest rate at MLR per annum

     Remark: Terms and conditions as designated by the company

     BAM offers an installment plan for NPA buyers who do not have access to loans from financial institutions. This group of customers can purchase foreclosed properties priced under 3 million baht with a 10-year installment plan at a 0% interest rate in the first year and a BAM's MLR rate thereafter. Meanwhile, our “Affordable Condominium Sales Program“ serves customers on low incomes or with limited budgets who wish to purchase a condominium unit priced less than 500,000 baht with a 10-year installment plan at a 0% interest in the first year and at a BAM’s MLR rate throughout the contract. The program requires no down payment, and the monthly installment rate starts from only 500 – 2,500 baht per month in the first year. 

     To facilitate and provide fast and safe services for customers who wish to make payments under the current COVID-19 situation, customers can complete their payments anywhere, anytime, and 24 hours a day via a mobile banking platform provided by Thailand's 12 leading commercial banks.

     For further information about measures and programs, please contact our Call Center at 02-630-0700 or visit BAM's headquarters, the Loan Restructuring and Sales Department - Pathum Thani 1, and any branch offices across the country. Customers can also visit www.bam.co.th; Facebook and Line: Bam Thailand; and Facebook page: Online Debt Restructuring Center by BAM.

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