11 June 2020
Bangkok (11 June 2020) —
Krungsri (Bank of Ayudhya PCL) and
Grab Thailand have embarked on further collaboration to launch financial products and services that best respond to the demands of Grab business partners across various segments. Together, Krungsri and Grab are introducing the latest product,
“Personal Loan for GrabFood merchant-partners”, offering a maximum of 500,000-baht clean personal loan, which comes with 12-month installment, without requirement of any collateral or guarantor and with an interest rate as low as 14.99% per annum. The loan is aimed to ease financial strain GrabFood merchant-partners have been facing during COVID-19, by providing additional working capital and financial liquidity.
Mr. Phonganant Thanattrai, Krungsri Head of Retail Banking and Distribution Group revealed, “Our investment and partnership with Grab has created a stronger strategic alliance. Our Collaboration has enabled Krungsri to optimize its financial expertise and leverage strength as the industry leader in personal loan in the provision of innovative financial products and services to Grab’s customers, merchants, and riders. We have seen entrepreneurs in various industries struggle during the COVID-19 pandemic, especially GrabFood merchant-partners , some of which are unable to carry on business as usual, which has shrunk their revenues despite the fact that they still have shoulder fixed costs and certain overheads. Thus, Krungsri is launching the
“Personal Loan for GrabFood merchant-partners” with an aim of increasing working capital and financial liquidity for these merchant-partners as well as giving them access to resources to adapt to the “new normal” and shifting customer behaviors. The loan is also offered a lower interest rate when compared to similar products in the personal loan segment.”
“Krungsri and Grab have worked together to develop a new credit scoring system, where the customer data is incorporated into the credit line approval. This is a superior financial experience offered via a digital platform, directly to targeted consumers. The Bank is expecting to attract a large number of GrabFood merchant-partners.” added Mr. Phonganant.
Mr. Worachat Luxkanalode, Country Head of Grab Financial Group (Thailand) revealed “Grab Financial Group is committed to delivering full-service FinTech solutions for the underbanked population, aiming to elevate the life quality of Thai people by expanding financial access for the entire nation. Amidst the current economic hardship, Grab believes loan products with repayment plans that correspond well with the capability of business operators will play a major role in keeping the business afloat, leading to the collaboration with Krungsri. Launching a short-term loan product for our merchant-partners with daily repayment installment plans. This feature will allow our merchant-partners to manage their financial resources with greater convenience and efficiency. The loan will be initially available to medium-sized chain restaurants with healthy sales and expanded to other segments in the future. We trust our partnership with Krungsri will enhance financial inclusion for Thai people at large.”
Interested GrabFood merchant-partners can apply for the personal loan via online channel,
www.krungsri.com. No loan management fee is charged. Apply from now to 30 June 2020.
For more details, please contact Krungsri Call Center
1572 or
www.krungsri.com.