Thai Government Savings Bank Offers Debt Relief for Flood Victims
Government Savings Bank is offering flood victims a three-month debt moratorium with zero interest and forgiven accrued interest, plus new specialized low-rate loans up to 1 million baht for home repairs and business recovery in declared di
The Government Savings Bank is rolling out emergency financial relief for flood-affected customers in northern Thailand. Bank Director Songpol Chiwapanyarochana said that while floodwaters are receding and recovery is beginning, widespread damage to homes, livelihoods, and businesses continues to strain household finances and incomes. The bank has introduced an automatic 3-month debt moratorium with zero interest—all accrued interest will be forgiven, and skipped principal payments for three installments will be consolidated into the final payment. After the deferment period, borrowers return to their original payment schedule.
The program covers all loan categories (with limited exceptions) for borrowers whose registered address or place of business lies in a disaster zone as declared by the Department of Disaster Prevention and Mitigation. The bank will notify eligible borrowers via SMS or mail; those who wish to decline can contact any Government Savings Bank branch or the GSB Contact Center at 1115 to continue regular payments.
Beyond existing debt relief, the bank is also offering new specialized loans. An emergency relief loan for disaster victims provides up to 20,000 baht without collateral, interest-free for three months, then 0.60% monthly thereafter, repayable over up to 24 months. A livelihood recovery loan offers up to 50,000 baht with 0% interest for three months, then 0.50% monthly, and terms up to 60 months. A small-business rehabilitation loan provides up to 300,000 baht at 0% for three months, then 15% annually, over up to 7 years, for equipment purchases or business improvements. For home repair, a housing recovery loan extends up to 1 million baht at 0% for three months, 2% annually for months 4–24, then variable rates thereafter, plus up to 3,000 baht in appraisal support.
Affected businesses can also apply for the Government Savings Bank SMEs Recharge loan to repair facilities, purchase equipment and machinery, or secure working capital.
