Ministry of Social Development Introduces Interest-Free Pawnshop Scheme as New Year Gift.

Bangkok: The Ministry of Social Development and Human Security has announced an initiative to offer a one-month interest-free service at social pawnshops, aiming to provide financial relief to individuals during the year-end and New Year period. This special scheme will be available until the end of February 2025. According to Thai News Agency, Mr. Varawut Silpa-archa, the Minister of Social Development and Human Security, shared insights regarding this initiative, which was reported by Mr. Prasong Phanlima, Director of the Office of the Welfare Fund. The Office of the Welfare Fund, under the Department of Social Development and Welfare, has introduced this initiative as a means to alleviate financial burdens for the public. Individuals who pawn their property with a principal amount not exceeding 5,000 baht between December 2024 and February 2025 will benefit from this interest-free period. This effort supports the grassroots economy by assisting low-income individuals in accessing financial resources and r educing interest expenses during a time when financial needs may be pressing. The project commenced on December 1st and runs through February 28th, 2025. It allows for a special privilege of one month interest-free per pawn ticket round. Interested individuals are encouraged to contact the Office of the Welfare Fund or any nearby pawnshop for further details. The Social Pawnshop can be reached at 02-2815888. The initiative aligns with the organization's aim to assist low-income individuals who face immediate financial challenges. By providing low-interest pawn options, the Ministry ensures private pawnshops adhere to regulated interest rates, as specified by the Pawnshop Act, preventing excessive charges on financial services.