GH Bank to help officials affected from political unrest

BANGKOK, 2 June 2010 (NNT) – The Government Housing Bank (GH Bank) will grant loans to government officials and staff members affected from the political unrest and demonstration while existing customers will have their interest rate reduced.

GH Bank President, Khan Prachuabmoh, announced that the bank would prepare about 45 billion THB to issue loans for this project. He said loans must be borrowed to buy, renovate, construct, or refinance houses or properties.

Loan seekers eligible to take part in this scheme must be officials, staff members, employees working under government agencies, universities or state enterprises. Loans are payable within a maximum of 30 years.

Police and military officers will receive additional privileges as they can borrow without being charged property value evaluation and loan seeking fees. The privileges are given to boost their morale for maintaining peace and order in the country.

Mr Khan added that the bank would cooperate with the Bangkok Metropolitan Administration (BMA) to prepare three types of housing plans for customers to choose as proposed by the BMA. He said interested customers could contact all district offices in Bangkok free of charge.

The bank president also announced another measure for existing loan customers, who either were affected by arsons in seven districts of Bangkok or had their income reduced by political unrest, to have their interest rates reduced to only 1% for one year.

The seven districts are Bang Rak, Din Daeng, Pathum Wan, Klong Toey, Sathorn, Watthana, and Ratchathewi.