GH Bank first to announce relief loans

GH Bank first to announce relief loans

GH Bank has prepared 500 million baht in soft loans for flood victims this year.

Chatchai Sirilai, president of the state housing bank, announced reduced interest rates and new loans to help the affected people on Saturday. 

The discount rates apply to its existing customers whose houses put up as collateral with the bank were damaged by the floods.

They will be charged no interest for the first three months. For the 4th to 12th months, the MRR-2.5% annual rate applies. 

The rates will be MRR-2% in the following year, MRR-1% in the third year and MRR-0.50% to MRR-1% from the fourth year onward, he said.

Currently, the minimum retail rate (MRR) is 6.75% a year.

The other measure involves lending to new or existing customers whose homes were damaged. The rates will be fixed at 3% for three years and MRR-0.5% to MRR-1% for subsequent years.

Each borrower may seek a loan up to 1 million baht for the damaged house owned by him or her or his or her spouse.

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