Government Savings Bank introduces a program to offer credits to Thai people to address debts owed to informal lenders. Borrowers must meet specific requirements and can contact GSB branches or call 1115 for more information. The move is part of the government’s plan to address informal debt issues.
Government Savings Bank Introduces Debt Relief Program
The Government Savings Bank (GSB) has announced a new program aimed at helping Thai people struggling with debts owed to informal lenders. Under this program, informal debtors can borrow up to 50,000 baht from the GSB, with a fixed interest rate of 0.75 percent, to settle their informal debts over a period of five years or 60 instalments.
Program Requirements and Application Process
To qualify for the program, borrowers must meet certain criteria such as having a job, being between 20 and 65 years old, and having someone to guarantee their borrowing from the bank or assets to use as collateral. Those interested in the program can contact any GSB branch or call the GSB call centre on 1115 for more information.