Over 850,000 apply for low-interest loans from GSB

[rooster59]

Over 850,000 apply for low-interest loans from GSB

By THE NATION

 

 

Government Savings Bank (GSB) reported on Saturday (April 18) that as of 7am, 853,169 people had applied for low-interest loans with total value of Bt21.348 billion.

 

 

The bank is offering two loans.

 

One is for self-employed people whose livelihood was affected by Covid-19. They can borrow up to Bt10,000 per person at the interest rate of 0.1 per cent a month and a two-year repayment period after a grace period of six months.

 

The other scheme offers a maximum loan of Bt50,000 per person to regular employees who are affected by the outbreak with interest rate at 0.35 per cent a month and a three-year debt repayment period.

 

The bank said 532,746 people had applied in the self-employed category, seeking a total of Bt5.327 billion, while 320,423 had applied in the other category, seeking a total of Bt16.021 billion.

 

Interested persons can apply at any time through [www.gsb.or.th] (http://www.gsb.or.th/) which will be open for registration through December 30. However, on Saturday the system will close for two hours from 11pm to 1am the next day for maintenance.

 

Source: https://www.nationthailand.com/news/30386310

 

-- © Copyright The Nation Thailand 2020-04-19

 

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[kevin612]

10000 and 50000 baht, many people suffer and don’t even have that small savings.

[baansgr]

Not exactly low interest on the 50k

[prakhonchai nick]

A darned sight lower then the usual 5% per month minimum from the loan sharks

[Scott Tracy]

Sorry, I'm confused and used to seeing APR. This 0.1% and 0.35% per month respectively, is this compounded? Would it make a great difference if it were compounded? Sorry, not an arithmetic guru.