FRIDAY, March 29, 2024
nationthailand

GH Bank follows lead on loans to clients amid virus outbreak

GH Bank follows lead on loans to clients amid virus outbreak

Government Housing Bank (GH Bank) has allocated a budget of Bt1 billion for an emergency loan programme in support of existing clients affected by the novel coronavirus crisis.

Under the campaign, it will lower the interest rate on current borrowing to 0.01 per cent for six months. This will lead to lower installment payment as a result of the rate cut.
Eligible borrowers under the new programme must be existing customers of the bank before January 30. They must also prove that their incomes have been affected by the virus outbreak, such as tour guides, hotel staff, or businesses selling products to Chinese tourists.
Loan application period is set from January 30 to March 31 at GH Bank branches nationwide.
The bank wants to provide relief to customers, said president Chatchai Sirilai.
Other banks have also introduced relief measures amid the coronavirus crisis. On January 29 Siam Commercial Bank (SCB) announced its offering of a six-month grace period for repayment of the loan principal amount to existing customers in the hotel business, If the crisis prolongs, SCB said it would introduce further measures.
On the same day Kasikornbank (KBank) announced its offering a 12-month grace period on repayment of the loan principle amount to its existing small and medium-sized enterprises (SMEs) customers in the tourism sector as a measure to ease their financial burden amid impacts from the coronavirus crisis.
The Bank of Thailand (BOT) on Thursday (January 30) urged financial institutions to provide assistance to affected clients.

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