Government Savings Bank rushes to help flood victims in Chiang Rai Province, reducing the burden of paying off the principal, reducing interest by half for 3 months, emergency loan 0%, no collateral required, 100% loan for home repairs
As the government has assigned the Government Savings Bank to urgently provide assistance to the people of Chiang Rai Province who are currently suffering from the major flood, especially in Mueang District and Mae Sai District, where the Government Savings Bank Region 9 has received a policy to provide immediate assistance, such as relief bags, consumer goods, and essential items to alleviate the initial suffering.
The Government Savings Bank has issued a set of financial measures to ease the burden of those affected by the disaster, including debt suspension and interest reduction measures, by suspending the payment of principal and half of the interest, while the remaining half of the interest will be reduced by the bank for a period of 3 months for retail loan customers,
both individuals and SMEs, with a credit line not exceeding 10 million baht, excluding customers of loans under the Government Policy Act (PSA) or other relief programs. They can notify their intention to join the measures via the Government Savings Bank website or contact the local Government Savings Bank from today onwards.
In addition, there are emergency loan measures to help disaster victims, relaxed approval criteria, no collateral and no guarantor, maximum loan amount not exceeding 10,000 baht per person, fixed interest rate of 0% for the first 3 months and no installment payments for 3 months, then from the 4th month onwards, interest rate of 0.60%, and housing loan for disaster victims for Government Savings Bank customers and the general public who need to repair their homes damaged by floods, loan amount up to 100% of the appraised value, special interest rate reduction averages 3.233% per year for the first 3 years, 2% interest rate for the 1st year, 3.85% per year for the 2nd – 3rd year (MRR-2.7
45%), and 5.845% per year for the 4th year onwards (MRR-0.750%).
In addition to financial measures, there are also measures to help and rehabilitate after the flood recedes, in collaboration with network partners, such as local technical colleges, to open a ‘Multi-Purpose Repair Clinic’ to improve and repair damaged houses, motorcycles, electrical appliances, and electrical appliances, etc. In addition, the Government Savings Bank in the area has been assigned to visit and provide assistance to customers and people affected by the disaster continuously, as well as to expand assistance to other flood-hit areas. The Government Savings Bank would like to send encouragement to the victims and the officers who are performing assistance in all areas to be safe and to overcome this crisis soon.
Source: Thai News Agency