Bangkok: KTC or Krungthai Card Public Company Limited has announced a partnership with Thailand Post Company Limited to initiate a pilot project offering car registration loans, branded as 'KTC Big Brother Car for Cash'. The service will be available at 45 Thailand Post offices across five provinces, providing loan approval within one hour with a maximum credit limit of 1 million baht, without the need for a guarantor.
According to Thai News Agency, Ms. Rueankaew Kasemsawatsri, Chief Executive Officer for Car Loans at KTC, stated that despite a predicted slowdown in the economy by 2025, the 'KTC P'Berm Car for Cash' loan portfolio demonstrates growth. The strategy for this year is to target new loans totaling 3,000 million baht. This will be achieved by expanding loan services to regular employees and small business owners with vehicles who require capital for business expansion or to increase liquidity.
The collaboration with Thailand Post aims to effectively reach potential customers, leveraging Thailand Post's extensive network. The service is particularly designed to assist online merchants and others familiar with using postal services. Customers can apply for the loan at designated Thailand Post offices, where trained postal officers will provide guidance and information about the loan product. Initially, the service will be available at 45 Thailand Post service points.
Ms. Waraporn Khongkeawphan, Chief Strategy and Organizational Development Officer at Thailand Post, explained the collaborative initiative to offer car registration loans under the 'KTC P'Berm Car for Cash' product. The service will cater to owners of cars and motorcycles who possess vehicle registration books. Customers can either leave their information at Thailand Post channels for KTC to follow up, or they can receive real-time loan application and approval services directly at the post office.
Beyond the initial rollout in five provinces-Nonthaburi, Pathum Thani, Samut Prakan, Samut Sakhon, and Nakhon Pathom-customers can also apply online through the Thailand Post website and social media, or via the Wallet@Post application. If the pilot project receives a positive response, the service may expand to additional provinces.