Thailand’s Government Savings Bank Offers Emergency Loans to Flood Victims

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BANGKOK (NNT) - The Thai Government Savings Bank (GSB) is offering emergency loans for people badly affected by flooding from storm Dianmu in 26 provinces in the Northeast and Central regions.

 

According to the GSB, those whose houses or property have been damaged by floods can get a home-repair loan of up to Bt1 million at 0% interest in the first year. Homeowners can also apply for an additional loan of up to 300,000 baht to buy or fix furniture and other accessories damaged by the flooding.

 

GSB said its home-related loans have a low interest of MMR-1.25% per year and customers can offer their house, apartment, land or farm as collateral, provided they are unencumbered.

 

The bank has also increased its loan limit for existing SME customers affected by the floods by 10%, but not exceeding 5 million baht. The interest rate in the first year will be fixed at 3.5%, while the following year will be set at the MLR. Loan information and application is available at any branch of the GSB or by contacting the call center at 1115.

 

-- © Copyright NNT 2021-09-29

 

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Just more borrowing