GSB Offers Zero‑Interest Debt Relief for Flood Victims
GSB has introduced a comprehensive flood‑relief program that includes a three‑month loan payment holiday with zero interest and several new loan products for home repairs, business recovery and SME liquidity. The emergency loans offer up to 20,000 baht with no collateral, while larger loans are available for home renovation and enterprise revival under favorable terms. The bank is also handing out relief packs of food, water and medicine to those in need.
The bank offers five types of assistance: (1) a three‑month principal and interest holiday on existing loans, with interest waived and postponed principal added to the last payment; (2) an emergency loan up to 20,000 baht per person, no collateral, zero interest for the first three months then a flat rate of 0.60 % per month, repayable over up to 24 months; (3) a micro‑enterprise recovery loan up to 300,000 baht, guaranteed by the Thai SME Credit Guarantee Corporation, zero interest for the first three months then a flat rate of 0.70 % per month (effective 15 % per year), repayable over up to seven years; (4) a home‑rehabilitation loan up to 1,000,000 baht, secured, with no principal payments for the first six months and zero interest for the first year, followed by MRR − 2.865 % in years two‑three and MRR − 0.750 % thereafter, repayable over up to 15 years, plus up to 3,000 baht for property appraisal; (5) an SME relief loan up to 5,000,000 baht, zero interest for the first six months, then MLR − 2.65 % for months seven‑twelve and MLR thereafter, with principal deferment for up to one year and a maximum term of seven years. In parallel, GSB is distributing “GSB Care Packs” containing food, drinking water and basic medicines to affected communities.
