GHB sets aside Bt500m as emergency package for floood victims
Government Housing Bank has set aside Bt500 million for its emergency package, under which it will offer an interest reduction to its housing-loan customers, said GH Bank president Chatchai Sirilai.
The package charges zero interest for the first three months of the scheme, and from the fourth to 12th months, the charge will be minimum retail rate minus 2.50 percentage points per annum. The interest rate for the second year will be MRR minus 2 percentage points, and MRR minus 1.0 point for the third year. The MRR currently is 6.75 per cent per annum.
To new borrowers or existing customers who require new lending for repairs to their homes, the bank will offer a fixed interest rate of 3 per cent per annum for three years. After the first three years, customers will be charged MRR minus 0.50 percentage point per year.
The bank will limit these loans to Bt1 million per borrower, Chatchai said.