Finance Minister supports GH Bank to issue Happy Home Phase 2 home loans

Bangkok, Deputy Prime Minister and Minister of Finance supports GH Bank to issue Happy Home Phase 2 home loans after Phase 1, banks approved loans up to the full credit line of 20 billion baht. Mr. Pichai Chunhavajira, Deputy Prime Minister and Minister of Finance, revealed that the Cabinet has approved the Ministry of Finance's proposal to the Government Housing Bank (GHB) to establish the Happy Home housing loan project with a total credit line of 20 billion baht. The results show that there are many customers interested in receiving the code to join the project because it is a loan for those who want to buy a house, a condominium, build, and buy equipment or facilities related to housing at a price not exceeding 3 million baht, with a fixed interest rate of only 3.00% per year for the first 5 years. In addition, there are relaxed conditions for those with a monthly income not exceeding 25,000 baht to be considered for income criteria not exceeding 1/2 of net monthly income, allowing low-income earners to receive a higher credit limit. As of July 26, 2024, there were customers applying for loans for the project exceeding the credit limit and the bank has approved loans up to the specified credit limit. Therefore, the Ministry of Finance would like the GH Bank to consider helping low-income people to have their own homes more, in order to take care of grassroots customers, reduce social inequality, and improve people's quality of life in line with the policies of the government and the Ministry of Finance. 'The Happy Home home loan project is a good project for low-income earners who want to own their own home. They can access a home loan with a low interest rate and fixed installment payments for up to 5 years, allowing them to plan their installment payments very well. Therefore, the GH Bank should create the Happy Home home loan project, phase 2, to meet the needs of a large number of customers,' said Mr. Pichai. Source: Thai News Agency