GH Bank cuts mortgage rates for Sakon Nakhon flood victims
The Government Housing Bank has cut the interest rate on mortgages to help people in Sakon Nakhon whose houses were damaged by floods.
The bank offers loan wither low interest rate 3 per pent annually for three years then the rate would be between MRR (minimum retail rate) -0.5 to MRR-1 percentage point, Chatchai Sirilai, president of the GH Bank said on Saturday.
Currently, MRR is 6.75 per cent per annum. Customers who wanted to fix a damaged house, or build a new one, could apply for the loans.
The bank has also cut mortgage rates to zero per cent for three months for existing borrowers. The rate would then be MRR- 2.5 percentage points for the next 4-12 months.
The rate would increase to MRR-2 percentage points for the second year, MRR-1 percentage point for the third year and MRR-1 percentage point for the fourth year onwards for members on social security, and MRR-0.5 percentage point for retail customers