Hundreds seek Emergency loans from the Government Saving Bank

Parn Phet Market Government Savings Bank branch in Mukdahan (north eastern Thailand) reports that hundreds of people have lined up to seek emergency loans from the government to help those affected by the Covid-19 crisis. The queue was stated to have been so long that it stretched out onto the street.

After making their online applications, those applicants were asked for a face to face interview. GSB offers loans of 10,000 and 50,000 baht at low interest rates to self-employed people and those holding paid jobs affected by the crisis.

A maximum loan of 10,000 baht can be paid for the self-employed group at an interest rate of 0.1 % over two years, without any payments required for the first six months. Applicants must be Thai nationality, at least 20 years of age, have a residency certificate and contact number. The loan is valid for people who earn no more than 30.000 baht a month, such as traders, sellers, bus drivers, taxi drivers and guides.

In the meantime, persons with fixed incomes can take loans of up to 50,000 baht, which can be repaid over 3 years. This loan requires a guarantor or guarantee of property. To be eligible, a Thai national must have a residence certificate, can show that the Covid-19 outbreak affected his or her income, and is over the age of 20.

The government has set aside 20 billion baht for this stimulus scheme.

SOURCE: The Nation