Mr. Ananchai Uthaiwattanachep, The Director-General of the Department of Labor Protection and Welfare said that during this period, students are required to pay for their tuition fees, clothing and equipment, and provide sufficient funds for these expenses. This may pose a risk of high interest rates to alleviate the financial difficulties of parents. In order to have working capital for spending at low interest rates. The Department of Welfare and Social Welfare encourages borrowers through savings cooperatives in the workplace. The interest rate is lower than 5% per annum and no collateral is required.
The Director General said that the Department of Labor Protection and Welfare encourages the establishment of savings cooperatives in the workplace. It is a form of economic welfare, in addition to other forms of welfare, to help solve financial problems and give employees savings. The goal is to lower interest rates. Employees receive dividends from cooperative shares and accumulated funds for retirement. Currently, there are 614 savings cooperative establishments. If any business establishment is interested in setting up a savings cooperative but no money can be borrowed through the Labor Fund, the Department of Labor Protection and Welfare at low interest rates. For more information please contact Labor Welfare Division Tel. 0 2245 6774 or 0 2246 0383.
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