Hat yai: GH Bank has implemented seven measures to assist flood victims in the southern region. The Government Housing Bank (GHB) has issued seven measures to alleviate hardship caused by flooding in the southern region, including a one-year reduction in installments and interest on loans and a three-month debt repayment suspension.
According to Thai News Agency, Mr. Kamolpop Virapala, President of the Government Housing Bank (GHB), revealed that the flooding in Hat Yai District and the southern region has severely impacted the homes, livelihoods, and occupations of customers and the public. As a state-owned specialized financial institution with a mission to “make Thais own homes,” GHB has prepared relief and assistance measures to alleviate the suffering of those affected in the affected areas through the “Disaster Relief Measures 2025.”
Measure 1 focuses on existing customers, offering a reduction in installment payments and loan interest rates for one year by suspending repayment for three months. Durin
g this period, a 0% interest rate will be applied for the first three months, followed by an interest rate of 2.00% per year from months 4-12, with installment payments reduced by 50%. Customers seeking home repair loans can also participate in specific loan programs with a capped interest rate and no additional mortgage registration.
Measure 2 provides additional loans for both existing and new customers to repair or replace existing houses, with a maximum loan amount of 2 million baht per person. The interest rate starts at 0% for the first three months, increasing gradually over the subsequent years, with the loan term extending up to 40 years and reduced fees to ease financial burdens.
Measure 3 is tailored for NPL customers whose collateral has been damaged, offering a debt settlement period of up to 18 months with reduced interest rates and no installment payments required initially. After the settlement period, the interest rate will revert to the original rate.
Measure 4 allows NPL customers whose
income has been affected to negotiate their debt over a year, with interest rates adjusted over time and minimal installment payments required.
Measure 5 offers a unique provision for customers with normal or NPL status who have died or become permanently disabled, allowing repayments at an extremely low interest rate, contingent on individual assessments.
Measure 6 addresses cases where residences are completely damaged and unrepairable, waiving the debt for the building price and allowing repayment for only the remaining land, assessed on a case-by-case basis.
Measure 7 includes expedited claims for customers with home fire insurance policies covering natural disasters, offering compensation based on actual damages, with potential policy adjustments for increased natural disaster coverage.
Customers interested in these relief measures can apply at any GH Bank branch. For further information, they are encouraged to contact the GH Bank Call Center or visit the Government Housing Bank Facebook Fanpage.