The Cabinet has approved a new home loan scheme offering repayment terms of up to 40 years for low- and middle-income earners, aiming to help more people own homes and stimulate the national economy through the property sector.
Deputy Government Spokesperson Lalida Periswiwatana told the media that the Bt50-billion scheme, proposed by the Government Housing Bank (GHB) under the supervision of the Finance Ministry, was approved at this week's Cabinet meeting.
She said the new “A House for Each PLUS” (Khon La Lang PLUS) scheme would follow two previous GHB home loan initiatives, both of which were fully subscribed.
Under the new scheme, eligible applicants can apply for loans of up to Bt3 million each to purchase homes with land in housing projects, condominiums or plots of land on which to build their own homes.
The loans will carry a special interest rate during the initial period before switching to the minimum retail rate (MRR) in subsequent periods. The scheme will also cover financing for fixtures and fittings.
According to Lalida, interested applicants nationwide can apply until December 30, 2030, or until the scheme is closed.
The Finance Ministry expects the scheme to generate up to Bt125 billion in economic activity and create jobs in property-related sectors, providing a potential long-term boost to the national economy.
