The tireless efforts of the Government Savings Bank (GSB) towards ensuring every Thai resident owns a home rings louder with its latest venture – a credit line of a whopping 45,000 million baht. This is earmarked towards the rollout of three unique home loan products, each offering fixed interest rates for the initial three years. As we step into a new year, GSB aims to spicy up the Thai economy with a fresh infusion of liquidity.
The Deputy Spokesperson of the Prime Minister’s Office, Karm Phonprakong, shared details about these enticing new loan offerings. The opening act is ‘Happy’ – a product that comes with a credit limit of 10,000 million baht. It welcomes those eager to own houses and condominium units from enlisted projects. With a 0% per annum interest for the first three months, 2.5% for the subsequent nine months, 2.98% in the second year, and 3.55% by the third year, the average interest rate floats around 2.8% per annum for the first triennial. Picturesque, isn’t it?
Imagine borrowing 1 million baht spread over 40 years; your starting instalment is a mere 3,300 baht monthly. It hardly gets more tempting than this!
Next up, we have ‘Mild Home’, a product designed for customers with a diverse set of needs for purchasing, construction, renovation, refurbishment, or refinancing from other financial institutions. Attached to a credit limit of 30,000 million baht, its interest cycle kicks off at 0.7% in the first three months, cranks up to 2.98% from month number four till the twenty-fourth, and finally, settles at 3.55% on the third annual. How about borrowing 1 million baht for 40 years here? You’d pay an affordable initial monthly instalment of only 3,600 baht, and that, too, is repayable over a two-year frame.
The third prowess in the arsenal is the ‘Happy Welfare’, designed for our patrons employed in organisations enjoying welfare benefits with the bank. Targeting customers eager to purchase a house or a condominium unit, seek refinancing from other financial institutions, or consolidate housing-related debts, ‘Happy Welfare’ provides a credit limit of 5,000 million baht. This product’s interest plan features 0.7% per annum rate for the first half-year, 2.75% for the next six months, 2.98% for the second year, and finally, 3.55% for the third year. Borrowing 1 million baht over 40 years on this would mean a comfortable starting monthly instalment of 3,500 baht, as detailed by KhaoSod.
According to Karm, GSB is all hands on deck to aid citizens in smoothly realising their dreams of home ownership, especially in these times of soaring interest rates. This will be executed through low-interest loan products offering a fixed interest rate for up to the first three years. Customers can thus enjoy lower monthly repayments, without compromising their ability to manage everyday living expenditure. As a result, this would encourage currency circulation within the Thai economy, thereby fostering its consistent upward growth.
Intrigued by GSB’s new initiative? Make sure to fill out your loan application and square away the legal requirements by December 29, and you’re all set to start your journey at any GSB branch spread across the nation.
Be First to Comment