Govt Housing Bank cuts interest rates

The Government Housing Bank (GHB) has announced interest rate cuts of up to 0.25 per cent per annum.
The minimum lending rate has dropped from 6.40 per cent to 6.25 per cent per annum while minimum overdraft interest rate is down from 7.25 to 7.00 per cent annually. Meanwhile, the minimum retail rate (MRR) remains at 6.75 per cent per year, which is already the lowest in the market, it said in a statement.
Chatchai Srivilai, managing director of GHB, said the bank is in the process of tailoring a special housing loan scheme with special interest in the “Home for All” project.
“The purpose of the project is to inject cash directly into the system instead of lowering MRR interest,” he said, adding an official announcement will be made in the near future.
The new rates take effect from May 22. For more information call 02-6439000 or visit www.ghbank.co.th.