Sun, October 17, 2021

business

GSB rolls out loans for flood victims


Government Savings Bank (GSB) is offering emergency loans for people hit by flooding from storm Dianmu.

Flash floods and runoff have been reported in 26 provinces in the Northeast and Central regions since last week, with Phichit, Chaiyaphum, Nakhon Ratchasima, Sukhothai, Chai Nat, Ayutthaya, Nakhon Sawan, Khon Kaen and Ubon Ratchathani badly affected.

GSB is offering emergency loans of up to Bt50,000 for people affected by flooding, with a grace period of three months for repayment. Those whose houses or property have been damaged by floods can get a home-repair loan of up to Bt1 million with 0 per cent interest in the first year. Homeowners can also apply for an additional loan of up to Bt300,000 to buy or fix furniture and other accessories damaged by the flood.

GSB said its home-related loans have a low interest of MMR-1.25 per cent per year, and customers can offer their house, apartment, land or farm as collateral provided they are unencumbered.

GSB has also boosted its loan limit for existing SME customers affected by the floods by 10 per cent, but not exceeding Bt5 million. The interest rate in the first year will be fixed at 3.5 per cent, while the following year will be set at MLR.

Loan information and application is available at any branch of GSB or by contacting the call centre at 1115.

Published : September 27, 2021