Bangkok: The Government Housing Bank (GHB) and the Social Security Office (SSO) have joined forces to revive nine southern provinces in Thailand with a significant financial package aimed at aiding insured individuals affected by recent floods. The initiative includes a 4 billion baht fund dedicated to repair and replacement loans, featuring an interest rate as low as 1.59% per year for the first five years, and monthly payments starting at just 1,500 baht.
According to Thai News Agency, the partnership between GHB and SSO is designed to offer substantial support for insured individuals under Sections 33, 39, and 40, residing in the affected provinces of Trang, Nakhon Si Thammarat, Narathiwat, Pattani, Phatthalung, Yala, Songkhla, Satun, and Surat Thani. The loan program provides repair loans capped at 500,000 baht per person and replacement loans up to 2 million baht per person, with loan terms extending up to 40 years.
Dr. Mahatthana Ampornphisit, Managing Director of GHB, emphasized the bank's commitment to providing more than just financial services. He noted that GHB aims to be a trusted partner in housing, particularly in helping those affected by natural disasters such as the recent floods. Through this collaboration, insured persons are expected to restore their homes to normalcy, ensuring a stable and sustainable quality of life.
The loan program offers an appealing interest structure with a rate of 1.59% per year for the first five years, transitioning to MRR - 2.00% per year for years six through eight, and MRR - 0.50% per year from year nine until the loan term concludes. This structure is designed to facilitate the repair or reconstruction of homes, allowing flood victims to regain housing security and improve their quality of life.
Dr. Mahatthana highlighted that the 4 billion baht allocation underscores the government's commitment to alleviating the distress faced by flood victims. The initiative is a crucial mechanism for assistance and rehabilitation, enabling affected individuals to return to a quality life and progress with resilience.
Interested insured persons can apply for these loans at any GH Bank branch across the nation from now until July 31, 2026. Loan agreements must be finalized by August 31, 2026. Applicants are required to present a certificate of insured status with their applications. For further details, individuals can contact the GH Bank Call Center at 0-2645-9000 or follow updates on all GH Bank Social Media platforms.