Hat yai: The Government Housing Bank (GHB) has announced a series of financial relief measures to aid those affected by severe flooding in Hat Yai District and the surrounding southern region. This initiative includes debt repayment suspension, reduction of installments and interest, as well as accelerated claims assistance, providing much-needed support to impacted residents.
According to Thai News Agency, Mr. Kamolpop Virapala, President of GHB, highlighted the bank's commitment to assist customers facing hardships due to the flooding. The bank's response, titled "Disaster Relief Measures 2025," encompasses a range of assistance options, including deferred debt payments, reduced loan installments, lower interest rates, and expedited claims processing. These measures are designed to ease the burden on affected individuals and promote recovery.
The first measure offers existing customers a one-year reduction in installment payments and loan interest rates. This includes a three-month suspension of repayments with a 0% interest rate, followed by a 2.00% interest rate for the remaining nine months, during which installments are halved. Additionally, customers needing home repairs can access Repair-Decorate Loan programs with favorable terms, including a maximum loan of 300,000 baht per person with low interest rates.
For both existing and new customers, the second measure provides additional loans up to 2 million baht for home repairs or replacements. The initial three months feature a 0% interest rate with no installment payments, transitioning to a 2.00% annual rate for the subsequent 21 months. Beyond this, interest rates vary but remain competitive, and the loan period extends up to 40 years.
The third and fourth measures cater to non-performing loan (NPL) customers, offering debt settlements and compromises with 0% interest for the first six months, followed by reduced rates. These schemes aim to alleviate financial pressure on those whose collateral or income has been affected.
Measures five and six address cases of customer mortality or permanent disability, and complete residence damage, respectively. These provisions include favorable interest rates and debt waivers, managed on a case-by-case basis.
The final measure ensures fast-track claims processing for customers with natural disaster insurance policies. This includes special expedited claims and increased coverage under specific conditions.
In addition to financial measures, GH Bank, in collaboration with the Treasury Department and the Royal Thai Air Force Executive Relations Development Club, is distributing relief bags and ready-to-eat meals to flood victims. Customers interested in these relief measures are encouraged to visit any GH Bank branch or contact the GH Bank Call Center for more information.