Bangkok: Government Savings Bank (GSB) has swiftly initiated financial relief measures to support victims of the recent earthquake, extending aid to both retail and existing business customers. The bank’s assistance includes suspending principal payments and reducing interest to 0% for three months, alongside providing emergency loans for home repairs and small and medium-sized enterprises (SMEs).
According to Thai News Agency, GSB expresses its deepest condolences to those affected by the earthquake on March 28, 2025, and has already extended initial support to hospitals and emergency responders in Bangkok. The bank has aligned its efforts with government policies, implementing two main financial measures to assist victims in coping with the aftermath.
The first measure involves alleviating the burden on existing customers whose properties or livelihoods have been impacted. This includes a suspension of all principal payments and an interest reduction to 0% for three months. This measure targets three specific groups: People’s Bank loan customers, home loan customers with loans not exceeding 5 million baht, and SME loan customers with loans not exceeding 10 million baht.
The second measure focuses on offering emergency loans to aid the general public in recovery efforts. These loans come with special conditions, such as a maximum loan amount of 20,000 baht per person for disaster victims, with a 24-month repayment period and no payments required for the first three months. An interest rate of 0% is applicable for the initial three months, followed by a 0.60% monthly interest rate thereafter.
Additionally, GSB provides home repair loans with a maximum limit of 500,000 baht per person, offering a 10-year repayment period for new customers and maintaining current contracts for existing ones. The initial three months are interest-free, with subsequent rates set for each following year.
For SMEs, GSB offers earthquake recovery loans with a credit limit of up to 40 million baht per case and a repayment period of up to 10 years. These loans feature a nine-month principal payment suspension and a tiered interest rate structure over the repayment period.
These financial relief measures are part of GSB’s commitment to supporting those affected by the disaster, ensuring that individuals and businesses can begin the recovery process with reduced financial burdens.