LOANS OFFERED TO ELDERLY
Thai commercial banks have joined hands to extend Bt10-billion in residential loans for the elderly, offering an average lending rate of 4.25-4.5 per cent for the first three years.
Predee Daochai, chairman of the Thai Bankers' Association, said that its member banks had agreed to extend loans worth no more than Bt5 million each with instalments over no more than 30 years, from July 1 to the end of this year.
The move is the association’s contribution to support the government's Pracha Rath social project. The banks aim to extend the residential loans to elderly people planning to purchase or construct, extend and repair residences, he said.
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