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GSB opens low-interest loans for self-employed people hit by Covid-19 outbreak

Mar 29. 2020
Chatchai Payuhanaveechai
Chatchai Payuhanaveechai
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By The Nation

Freelance self-employed people affected by the Covid-19 pandemic can avail of ultra-low interest loans offered by Government Savings Bank by applying through the bank's website.

Soft loan applications are invited from self-employed people such as taxi drivers, tour guides and vendors whose incomes have taken a hit after the virus outbreak, Chatchai Payuhanaveechai, the bank's president, said on Sunday (March 29).

Anyone aged 20 and up could be eligible for a clean loan with interest rate at just 0.10 per cent a month and a grace period of six months. Each person can borrow as much as Bt10,000 and debt repayment period is two years. The monthly income of applicants should not be more than Bt30,000 and they must have a place of residence where the bank can contact them.

The GSB will also launch another loan package on April 1 for those who have lost their regular monthly income because of the outbreak.

Each person can borrow up to Bt50,000 with interest rate at 0.35 per cent a month and a three-year debt repayment period. Borrowers could use either an asset as collateral or an individual guarantor.

Borrowers aged 20 or up are eligible and they must have a residential address. They could apply for loans via www.gsb.or.thonly, as no service is available at the bank counters.

The personal loan facilities are part of relief measures implemented by the government to support people impacted by the business shutdown.

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