On March 9, 2021, Thai Cabinet approved proposed bill of amendment to Thai Civil and Commercial Code (“CCC”) on interest rates to fit the current economic situation.
2021年3月9日泰國內閣通過《”泰國民商法”》關於利息的修正草案，以符合現今的經濟狀況。
Following is introduction of amendments under CCC:
以下為本次《泰國民商法》修法內容介紹：
Ø Standard interest rate
標準利率
Currently under Section 7 of CCC, whenever interest is to be paid, and the rate is not fixed by a juristic act or by an express provision in the law, it shall be 7.5% per year. This has been adopted for more than 95 years. The new standard interest rate is to be decreased to 3% per year, and will be reviewed every three years by the Ministry of Finance.
依目前《泰國民商法》第7條規定，如沒有合約或法律明文規定，每年的利息利率為7.5%。本法已採行超過95年。新的標準利息利率會減至每年3%，且泰國財政部每三年會評估一次。
Example案子舉例:
Section 7 provides general interest rate for any violation of law. For example, if your car is crashed by others, you can ask for the remuneration plus up to 3% interest.
第7條像是違反法律時適用的一般利率。舉例來說，如果你的車被他人損毀，你可要求賠償以及最高3%的利息利率。
Ø Default interest rate
逾期還款利率
Currently under Section 224 of CCC, a money debt bears default interest rate at 7.5% per annum. If the creditor can demand higher interest on any other legitimate ground, this shall continue to be paid. The new default interest rate nevertheless is to be decreased to 5% per year. However, it should be aware that a creditor is still able to raise the interest at a higher rate under other legitimate grounds.
依目前《泰國民商法》第224條規定，如債務人違約，除非其他法律允許債權人要求更高的利率還債，債權人以每年7.5%的利率收取違約利息。新的逾期還款利率會減至每年5%，但債權人可依法調高利率。
Example案子舉例:
Section 224 can only be used for debt. For example, when someone borrows your money, if the interest rate is written in the contract, it can be up to 5% only. However, if the interest rate isn’t written in the contract, Section 7 is applied, which is not more than 3%.
第224條僅能適用於金錢債務。舉例來說，如有人向你借錢，如利息利率記載在合約裡，最高可為5%。但如合約沒有記載，利率僅能採第5條規定，最高3%。
Ø Default interest rate in case a debtor has duty to make payment by installment
債務人有責任分期還款的利息利率
There is a new added section under CCC which is Section 224/1. According to this section, if a debtor fails to make any installment payment, a creditor is granted to request the default interest based on the amount of principal of such default installment only. If an article indicated in an agreement violates this section, it is invalid.
新的《泰國民商法》新增第224/1條。依此法規定，如債務人未能分期還款，債權人僅能根據違約分期付款的本金請求違約利息。如合約的條款違反本條規定則為無效。
Please be aware that the new proposal interest rates are only applicable for debts or installment payment which is due when the amended CCC is effective. But it does not affect the interest charged during the period before this Act come into effect.
The amended CCC will become effective from 11th April 2021 onwards due to the emergency decree on Amendment of the Civil and Commercial Code B.E.2564 dated 9th April 2021.
須留意的是新的利息利率只適用於本次修法生效之後的債務或分期債務，在新法生效前的利率並不受到影響。新法依2021年4月9日《泰國民商法》緊急命令於2021年4月11日生效。