'GSB' rushes to help flood victims 'pause' principal payments for 3 months, pay half of the interest, while the bank reduces the remaining interest for 3 months for retail loan customers, both individuals and SMEs with a credit line not exceeding 10 million baht. EXIM BANK launches measures to help customers affected by floods in the northern region

Mr. Witai Rattanakorn, President of the Government Savings Bank, revealed that the flash flood situation in many provinces of the country has caused damage to property and severely affected the lives of customers. The Government Savings Bank has launched a set of urgent relief measures in accordance with government policy, including debt suspension, interest reduction, and loan measures. The debt suspension measure is to ease the burden on GSB debtors affected during this period by suspending principal payments for 3 months, paying half of the interest. The remaining half of the interest will be reduced by the bank for 3 months for retail loan customers, both individuals and SMEs, with a credit limit not exceeding 10 million baht, excluding customers who apply for loans to debtors under the Government Policy Act (PSA) or other relaxation projects. Customers can notify their intention to join the measure via the Government Savings Bank website or contact the local Government Savings Bank from today onwards. However, after the 3-month debt repayment suspension period has expired, the installments must be paid according to the original contract. If you still cannot pay the debt, you can consult with the Government Savings Bank officer to find other solutions.

For those affected by the disaster who need to use emergency loans, you can apply for 2 types of loans: Emergency loans to help disaster victims, relaxed approval criteria for daily expenses or career rehabilitation, no collateral or guarantor required, maximum loan amount not exceeding 10,000 baht per person, repayment period not exceeding 15 months, with a fixed interest rate of 0% per month for the first 3 months and no installment payments for 3 months. After that, the 4th month onwards, the interest rate is low at 0.60% per month. You can apply for a loan at any Government Savings Bank branch within 30 days of the disaster. Applications are open from today onwards. Home loans for flood victims For existing customers and the general public whose houses or residences were damaged by floods and need to be renovated or repaired in the damaged areas, the loan amount is up to 100% of the appraised value. The special interest rate is reduced by an average of 3.233% per year for the first 3 years, 2% interest rate for the 1st year, 3.85% per year for the 2nd - 3rd year onwards (MRR-2.745%), and 5.845% per year for the 4th year onwards (MRR-0.750%).

Government Savings Bank is ready to provide urgent assistance by assigning local GSBs to visit and provide relief bags and basic assistance to customers and people affected by the disaster. It is also preparing to expand the results to other flood-receiving areas, including cooperation with network partners, especially technical colleges in the area, to set up a “Multi-Purpose Repair Clinic” to provide assistance and rehabilitation after the flood recedes, in the process of repairing and improving houses, electrical appliances and household appliances, motorcycles, and other items that were damaged, as well as surveying the need for additional assistance in various areas.

Dr. Rak Vorakitphokatorn, Managing Director Export-Import Bank of Thailand (EXIM BANK) said that EXIM BANK has measures to assist and provide relief to customers who have been directly and indirectly affected by the flood situation in the northern region of Thailand, both in terms of short-term and long-term loans, by increasing the short-term working capital by up to 20% of the original amount, changing short-term debt to long-term debt, repaying short-term loans for up to 3 years and long-term loans for up to 7 years, reducing the interest burden of long-term loans, and suspending principal payments for up to 1 year to enable EXIM BANK customers to continue their export or export-related businesses throughout the supply chain.

Relief measures for short-term loans Extend the promissory note period by up to 180 days Increase temporary working capital by up to 20% of the original working capital, but not exceeding 2 million baht, using the same interest rate Change short-term debt to long-term debt, repayable for up to 3 years

Relief measures for long-term loans Extend the loan term up to 7 years Reduce the interest rate in the first year by 0.50% or pay only 50% interest in the first 6 months Suspend principal repayment for up to 1 year The current Prime Rate interest rate is 6.35% per year.

EXIM BANK, as a state financial institution that aims to carry out the Green Development Bank mission, is ready to help customers to be able to continue their business without interruption and continuously amidst various problems and challenges. Customers can inquire and express their intention to join the assistance measures by registering at www.exim.go.th or contact the EXIM Contact Center at 0 2169 9999.

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