Banks agree to offer Bt10 bn in housing loans for the elderly
Commercial banks have joined hands to extend Bt10 billion in residential lending for the elderly, with the loans attracting an average interest rate of 4.25-4.50 per cent for the first three years.
Predee Daochai, chairman of the Thai Bankers’ Association, said on Monday that its members had agreed to extend loans worth up to Bt5 million each.
The maximum repayment period is 30 years.
The programme, which commenced on July 1, is open for applications until the end of this year.
It represents the association’s determination to support the government’s “Pracha Rath” (For Society) project, under which the aim is to provide residential loans for the elderly planning to purchase or construct a home, or to extend and repair their residence, he said.
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