Bangkok: In an effort to promote financial discipline and reward borrowers who consistently meet their repayment obligations, the Government Savings Bank (GSB) has announced a 0.5% interest rate reduction for borrowers maintaining timely payments.
According to Thai News Agency, this initiative is specifically aimed at supporting housing loan customers with exemplary repayment records. The program allows eligible customers to enjoy a reduced interest rate until the end of the year, as part of GSB's strategy to incentivize responsible financial behavior among borrowers. Customers will be notified of their eligibility via the MyMo application, with no additional documentation required for participation.
Mr. Songpol Cheevapanyaroj, Director of the Government Savings Bank, highlighted the importance of this measure in fostering better financial habits among the public. By encouraging borrowers to adhere to their loan agreements, the bank seeks to help them maintain a positive credit standing and avoid future financial difficulties. The initiative, titled "GSB Reduces Your Home Loan Payment," is designed to thank customers for their financial discipline and alleviate some of their repayment burdens. The program targets housing loan borrowers who have maintained a good repayment history over the past three years, without any arrears in the last 12 months, and who have not been involved in other bank assistance measures or loan moratoriums. Eligible borrowers will benefit from a 0.50% annual interest rate discount for up to eight months. The program is accessible through the MyMo app from May 1st to December 31st. For further details, customers can reach out to any GSB branch or contact the GSB Contact Center at 1115-119.