GH Bank is offering additional loans of Bt20,000 million for 2011 flood victims.
Worawit Chailimpamontri, GH Bank’s President said that this special supplemental program was an integral part of the government’s policy to assist 2011 flood victims.
Initially, the Bank of Thailand (BOT) and the GH Bank launched a Bt9,000 million for “GH Bank – BOT flood victims’ housing-finance project that was fully subscribed.
The additional Bt20,000 million be funded by a soft loan of Bt14,000 million from the BOT and Bt6,000 from GH Bank.
The Bank will charged fixed interest rates of 3% for the initial five years. After the initial five years, interest rates on these loans (for welfare benefit’s customers) will be adjusted to MRR-1.00 % per annum and to MRR-0.50% per annum for retail customers.
If customers use these funds to repay existing housing loans or purchasing housing accessories and furnishings, the Bank will charge MRR (GH Bank’s MRR currently is 7.25% per annum).
Worawit said that the above terms applied to existing and new customers affected by the 2011 floods especially those living and working in flooded areas.
Customers can request loans for buying and constructing new houses, renovating existing houses, refinancing other financial institution loans, paying housing loans and purchasing homes under construction (not exceeding Bt3 million per person). The loans are subject to a maximum of 100% of appraisal value, purchase or sales price. Maximum repayment term is 30 years.
Eligible borrowers must submit applications beginning August 20, 2012 and include the following information:
- Salary documentation including salary slips, letters from employers, tax documentation and bank deposit books..
- Copies of identification card, government official card or certificates for changing name and surname (if any)
- Copy of all pages of census registration
- Copy of marriage certificate/divorce/death
- Letter from the government agency to show that collateral or housing was damaged by floods
- If customers lost revenues because of floods, they must show letters from government agencies.
- Copies of title deed or Nor Sor 3 Kor or letter of condominiums ownership
- Purchase and sales agreement or deposit agreements if buying land with building, condominiums or buying land and constructing building
Eligible borrowers may apply at all GH Bank branches. For more information, please contact Customer Services Center, GH Bank, Tel : 0-2645-9000 or www.ghbank.co.th
