GSB offers saving packages, loans at Bitec Money Expo

The fair runs from this Thursday to Sunday (December 17-20) at the Bangkok International Trade & Exhibition Centre (Bitec).

A highlight is the "107 deposit" account, which boasts average annual interest of 3.52 per cent for a fixed deposit of 107 days on savings between Bt10,000 and Bt500,000. Seven-hundred accounts will be offered to savers aged 15 and above who have a GSB debit card and mobile app MyMo. Savers can also open the account at any GSB branch from December 17-27.

GSB will also offer mortgage loans at the expo. Borrowers who also take out life insurance will receive a fixed interest rate of 2.5 per cent for the first three years and MRR-1.5 per cent year from the fourth year (GSB’s current MRR is 6.245 per cent).

Meanwhile GSB SMEs Startup No 1 loans of up to Bt10 million will be available for businesses launched in the last three years. Borrowers who also sign up for life insurance and offer collateral worth over 50 per cent of the loan will be charged annual interest of 1.07 per cent in the first year and MOR/MRR + 1.50 per cent per year after that.

Also offered are “GSB D-VERs” short-term and long-term loans of Bt1 million-Bt100 million for companies to boost revolving funds or invest in assets.

Loans of Bt1 million to Bt20 million which are backed by full collateral and a life insurance subscription carry interest of 3.99 per cent in the first year, 4.99 per cent in the second year and MOR/MLR+0.75 per cent after that (GSB MOR rate is 5.995 per cent and MLR 6.15 per cent). If the collateral is 30 per cent of the loan, the rate is MOR/MLR+1.25 per cent.

Loans of Bt20 million-Bt100 million backed by a life insurance subscription and full collateral carry 4 per cent annual interest in the first two years and MOR/MLR+0.75 per cent for the following years. If the collateral is 30 per cent or over, the rate is MOR/MLR+1 per cent.