Ngern Tid Lor reaffirms its leading innovative financial solution for low-income customers
Plans to reach over 300,000 TIDLOR cardholders this year
Ngern Tid Lor Public Company Limited’s position as Thailand’s leading financial innovation company has been reconfirmed by issuing 300,000 “TIDLOR cards” for low-income customers.
Revolving payment cards expand Ngern Tid Lor’s portfolio by enabling convenient cash withdrawals based on each cardholder’s credit limit from any commercial ATM across the country, 24 hours a day The service reduces new loan application processes and travel time to branches.
Meanwhile, a new campaign of vehicle loans and van loans available with the TIDLOR Card is offering special interest rates of 0.79% per month through May 31, 2022. In the first quarter of 2022, products TIDLOR’s auto credit lending and insurance brokerage business continued to grow strongly.
Ngern Tid Lor Managing Director Piyasak Ukritnukun said: “The company has had a great response to its launch of the ‘TIDLOR Card’ for motorcycle credit customers and is now expanding its product lines to include car loans. and van. More than 300,000 cards were issued at the end of March, compared to 285,000 cards in 2021.”
In the past year, TIDLOR cardholders used the cards to withdraw cash more than a million times. The great response for revolving payment cards reflects their availability for 24-hour withdrawal up to each customer’s approved credit limit at any ATM in the country. This innovative and revolutionary service provides customers with convenient access to financial resources when needed and saves them the hassle of applying for credit approval and travel time and expense.
Ngern Tid Lor has also recently launched a car and van credit product offering a TIDLOR card with a special interest rate of 0.79% per month to help reduce the difficulty of obtaining financing for this purpose. The lower interest rate provides eligible clients with increased liquidity for their business without being overwhelmed by the high cost of living and soaring inflation.
“The huge responses from ATM withdrawals confirm that we are heading in the right direction,” says Piyasak Ukritnukun. “The service reduces the cost of our long-term credit approval operation without increasing staff levels. The service extension also enables broader service coverage, as we expect 3 billion baht in ATM withdrawals by the end of this year. At the same time, the performance of automobile credit and insurance brokerage continued to improve from the 1st quarter of 2022.