The Government Savings Bank Assists Debtors with Principal-Interest Reduction Measures
In a bid to provide relief to debtors during the ongoing COVID-19 crisis, the Government Savings Bank is implementing measures to reduce principal and interest, including a no-interest option. Under this initiative, debtors can start repayment with as little as 100 baht per month.
Supporting Self-Employed Individuals Affected by COVID-19
The President of the Government Savings Bank, Mr. Withai Rattanakorn, unveiled the “Credit for Expenses for Self-Employed People Affected by COVID-19” program. This scheme offers a credit limit of up to 10,000 baht per person, with a total credit line of 20,000 million baht. The objective is to provide temporary liquidity for individuals who have faced income loss due to the pandemic.
No-Interest Charge and Principal Reduction
As economic recovery remains sluggish and living costs continue to rise, debtors are finding it increasingly difficult to repay their debts. Therefore, to ease their burden, the Government Savings Bank has introduced measures to waive interest charges and utilize the funds already paid to deduct the principal amount. Initially, debtors can make monthly payments of just 100 baht for installments 1 to 6. Subsequently, installments 7 to 12 will require payments of 300 baht per month. The payment period has also been extended until October 2024.
Register for Support Measures
We encourage loan debtors who require financial assistance due to the impact of COVID-19 to apply for support measures through MyMo or visit www.gsb.or.th. For those without access to MyMo, registration can be done via the bank’s official website. The registration period is open until September 30, 2023.
The Government Savings Bank is helping debtors by issuing “principal – interest reduction – no interest” measures, starting at 100 baht per month.
Mr revealed Withai Rattanakorn, President of the Government Savings Bank, that the Government Savings Bank, as before, has announced measures to help people during the crisis of the COVID-19 epidemic. under the project “Credit for expenses for self-employed people affected by COVID-19” with a credit limit of no more than 10,000 baht per person, a total credit line of 20,000 million baht, to temporarily increase liquidity for people without income during the crisis. past
However, because the economy is still in the recovery phase together with living costs tend to increase affecting the debtor’s income and his ability to repay debts. (Debtor account 21) with NPL status to return to normal debt status. The Government Savings Bank has announced measures “No interest charge Reduce all interest accrued and use the money paid to cut the entire amount of the principal” by allowing the debtor to start paying in installments of only 100 baht per month for installments 1-6. After that, installments 7-12 pay 300 baht per month and extend the payment period until October 2024.
So we invite loan debtors to cover expenses for self-employed people affected by COVID-19. Register for support measures in MyMo or www.gsb.or.th For debtors who do not have MyMo, they can register through the bank’s website. www.gsb.or.th from now until 30 September ’23
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