Tuesday, October 20, 2020

GSB extends relief for debtors until year-end

Sep 01. 2020
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Government Savings Bank (GSB) is extending debt moratorium for Covid-19-hit customers until the end of 2020, while providing options for those who wish to leave the programme.

“Since the Covid-19 outbreak in Thailand, GSB has been granting suspension of debt and interest repayments for customers affected by the outbreak for six months, from April 1 until September 30,” said bank president Withai Ratanakorn. “However, the bank realises that many people are still suffering from the pandemic impact, therefore GSB will automatically extend the moratorium period for another three months -- from October 1 until December 31."

“GSB also offers three options for customers who wish to leave the debt moratorium programme: The first option is to suspend repayment of the principal but pay the interest at 100 per cent. The second option is to repay 50 per cent of the principal and 100 per cent of interest, and the last option is to continue paying the original amount stated in the loan contract or debt restructuring plan,” added Withai.

“Customers can choose any of these three options via GSB’s mobile application, “MyMo”, from September 9 until December 31, and your option will be effective the next day.”

In the case of joint borrowing, the customer whose name appears first on the contract must be the one who chooses the repayment plan via the MyMo application. Juristic person customers could also choose a repayment plan at a GSB branch office where they opened the account.

The bank has also urged customers to update their MyMo application to the latest 1.34.0 version before making any transaction.

For more information, contact GSB Call Centre at 1115.

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