Bank for Agriculture Offers Zero-Percent Loans to Flood Victims
The Bank for Agriculture and Agricultural Cooperatives is offering zero-percent loans up to 50,000 baht for six months to flood victims in Nan Province, with larger rehabilitation loans available at reduced rates for home and farm repairs.
The Bank for Agriculture and Agricultural Cooperatives (BAAC) is standing by farmers affected by sudden flooding in Nan Province, rushing to provide immediate relief and support. Branch staff have been mobilizing to distribute survival kits and packaged meals to those impacted, and the bank has introduced low-interest financing measures through emergency loan programs for disaster victims in fiscal year 2569–70. The maximum emergency loan is capped at 50,000 baht per person, with zero percent interest for the first six months, then MRR-based rates thereafter. A separate rehabilitation and livelihood development loan program offers up to 500,000 baht per person at MRR-minus-2 annual rates. Affected farmers can express interest starting immediately at their local BAAC branch.
BAACManager Chatchai Sirilai announced the bank is prepared to deploy staff to survey damage once water levels drop, gathering data to guide further assistance. Beyond immediate relief, BAAC is providing capital support to help affected customers access low-interest funds for emergency expenses, home repair, agricultural structures, tools, machinery, and restoring production damaged by natural disaster.
Two loan programs have been established: (1) Emergency expense loans for fiscal year 2569–70 to provide liquidity for essential living costs, with a maximum of 50,000 baht, zero percent interest for six months, then MRR rates thereafter (currently 6.575%); and (2) Rehabilitation and livelihood development loans of up to 500,000 baht at MRR-minus-2 rates (currently 4.575%) to cover home and property repair, agricultural facility repairs, and costs of resuming farming, with repayment over 15 years.
BAACurges farmers not to worry, assuring full support during the crisis. After the situation stabilizes, the bank will conduct field surveys of residential damage, property loss, and agricultural land, then compile data to approve further assistance and debt relief. Affected farmer-customers can register their interest from today onwards at their respective BAAC branch.
