GSB halts registration for low-interest loan scheme amid overwhelming response
Government Savings Bank GSB) has suspended registration for one of its two low-interest loan schemes as it has already reached its limit within seven days of launch.
GSB president Chatchai Payuhanaveechai said on Thursday (April 23) that after the bank opened registrations at http://www.gsb.or.th on April 15, applications for loans for regular employees up to a maximum of Bt50,000 per person has reached its capacity. “We, therefore, have to suspended registration for this loan for now. Those who are interested in getting the loan must wait for the next batch,” he added.
The bank launched two loan campaigns: one offered self-employed people whose livelihood was affected by Covid-19 loans up to Bt10,000 per person at the interest rate of 0.1 per cent a month and a two-year repayment period after a grace period of six months; the second campaign offered a maximum loan of Bt50,000 per person to regular employees affected by the outbreak with interest rate at 0.35 per cent a month and a three-year debt repayment period.
Other conditions are borrowers must be over 20 years of age and have a residential address.
“We have earmarked Bt20 billion for the second type of loan,” said Chatchai. “So far there have been 608,956 registrants for this loan. If we granted every person the maximum amount of Bt50,000 the total amount would reach Bt30.44 billion, which is beyond the budget.”
Chatchai added that registrations for the other loan scheme offering up to Bt10,000 will remain open as there was room to accommodate more applicants.
GSB will start sending SMS to registrants notifying the application result from May 7 onwards. For further information, contact GSB Call Centre at 1115.