Phuket government promotes solar energy with low-interest loans
In an effort to encourage more renewable energy use and lessen environmental impact, the Government Savings Bank of Thailand has unveiled the GSB Go Green loan. By providing financing for the installation and purchase of solar panels and other energy-efficient equipment, the bank aims to ease household energy costs in the country while helping to reduce global warming.
Withai Rattanakorn, President of the Government Savings Bank, stated that the loan will cater to the purchase of solar cells, solar rooftop panels, electric vehicle (EV) installation, hybrid cars, electric motorcycles, and energy-saving electrical appliances.
Interest rates for these loans can be as low as 1.99%, with repayment instalments starting at 199 baht per month for every 100,000 baht loan. The loan programme is open to applicants aged 20 and above, with a loan payment period not exceeding 70 years when combined with the borrower’s age.
The GSB Go Green loan aims to encourage the adoption of renewable energy alternatives to traditional energy sources, such as electricity while benefiting households by reducing costs. Rattanakorn emphasised the need to address global warming and work collaboratively towards promoting reusable, safe, and environmentally friendly energy to reduce greenhouse gas emissions which contribute to climate change, reports The Phuket News.
The maximum loan amount available is set at 500,000 baht per person with a loan payment duration of no more than seven years. The fixed interest rate for these loans is set at 7.99%, with instalments of 799 baht per month for every 100,000 baht.
Special offers are available for those providing collateral, such as land or property, which allows them to avail of a repayment period of up to 30 years, with fixed interest rates as low as 1.99% and instalments from 199 baht per month for every 100,000 baht. This particular offer is valid until December 30, 2023.
Prospective borrowers can apply for GSB Go Green loans at any Government Savings Bank branch across Thailand. Further information on this initiative can be found at www.gsb.or.th or by contacting the GSB Contact Center at 1115.
