Wednesday, May 27, 2020

GSB delays launch of low-interest loan scheme

Mar 31. 2020
Chatchai Payuhanaveechai
Chatchai Payuhanaveechai
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By THE NATION

The Government Savings Bank (GSB)'s ultra-low interest loan scheme scheduled to open for application in Wednesday (April 1) has been deferred by at least two weeks.

“We decided to postpone the application date to April 15 to avoid confusion with the government’s cash handout programme which opened for registration on March 28,” Chatchai Payuhanaveechai, the bank's president, said on Monday (March 30).

The loan is aimed to help self-employed people whose livelihoods have been affected by Covid-19, such as taxi drivers, tour guides and vendors. 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.

As for regular employees who are affected by the outbreak, GSB is making available a total of Bt20 billion to provide loans of up to Bt50,000 per person 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 proof of residential address.

Loan applications for both programmes can be sent via the bank’s website: www.gsb.or.th only from April 15 onwards until December 30.

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