MTC Affirms the Charging of Interest Rate is In Line with the Supervision of BOT

Muangthai Capital Public Company Limited (MTC) has made a statement regarding the news about the Department of Special Investigation (DSI) requesting MTC’s incorporation to inspect 3 operating branches of the company on 20th March, 2020.

 

MTC has clarified that the investigation on that day was for the information regarding the interest rate collection, criteria and procedures for repossession process as well as the auction process in regard to the complaints from a particular group of customer which earlier complained to the DSI.

Hence, MTC had already clarified that the company has operated business with the interest rate charging under the supervision of the Bank of Thailand with the Personal Loan license of a type of vehicle title loan, in which allow maximum interest rate up to 28%. In this event, MTC has already provided associated information, documentation and inquiry response to the DSI officers.