Thai Government Savings Bank Provides Emergency Loans to Flood Victims
The Thai Government Savings Bank (GSB) is providing emergency loans to people severely affected by the flooding caused by Storm Dianmu in 26 provinces in the Northeast and Central regions.
According to the GSB, those whose homes or property have been damaged by flooding can get a home repair loan of up to Bt 1 million at 0% interest in the first year. Homeowners can also apply for an additional loan of up to 300,000 baht to purchase or repair furniture and other fixtures damaged by flooding.
GSB has stated that its home loans have a low interest rate of MMR-1.25% per annum and that customers can offer their house, apartment, land or farm as collateral, as long as they are not not encumbered.
The bank also increased its loan limit for existing SME customers affected by the flooding by 10%, but not to exceed 5 million baht. The interest rate for the first year will be set at 3.5%, while the following year will be set at the MLR. Information and loan application are available at any GSB branch or by contacting the call center on 1115. (NNT)