25 May 2024

The Government Housing Bank has set aside one billion baht as a fund to help its customers who are affected by flooding.

GHB managing director Chatchai Sirilai said the bank had meted out six measures to help its flood-affected customers with the one billion baht fund already set aside.

The assistance measures range from interest rate cuts for housing loans, new loans for customers to repair damaged houses to debt refinancing.

Details of the assistance measures are as follows:  zero interest rate charge for the first four months of loan instalments, interest rates of MRR-2.50 percent for the 5th to 16th instalments; interest rate of MRR-2.00 percent for the 17th to 24th instalments and interest rate of MRR-1.00 percent for the third year.

New or old customers whose houses which are used as collateral for bank loans and are damaged from flooding, can take new loans from GSB which charges 3 percent interest on loans for three years.  For the fourth year upward, interest rate, the interest rate  will be 1 percent.

Loan not exceeding one million baht is available for customers who want the money to repair their damaged houses or to build new houses.  Interest rate is 3 percent for the first three years and MRR-1 percent for the rest of the term.

Debtors who cannot afford to repay debts can seek compromise with the bank which will provide 4-month debt moratorium to the customers after which interest rate of 1 percent will be charged on the loans for the 5th up to the 16th loan instalments.

For customers whose houses are completely damaged beyond repairs, the bank agrees to waive the remaining debt for the house and the customers are required to repay the loan for the land plots.

Customers who are interested to get help from the bank are recommended to contact the bank now until December 28.