BANGKOK, 6 July 2015, The Government Housing Bank (GHB) will expand its scheme to offer low interest loans to new homeowners in the South to one billion baht.
According to the bank’s President Angkana Pilanovat Chaimanus, the loan features an interest rate of 3.75 percent over the first five-year period. The scheme previously had a budget of 500 million baht. That amount will be doubled, due to its popularity. The loan is now available until the end of November.
A total of 497 million baht was loaned in April, signaling high demand among the new homeowners in the South. The new house buyers in the south signalled a high demand for the loan, as a total of 497 million baht loan was being made in April.
The GHB President indicated that the bank will also set aside another 200 million baht for loans for apartment owners. This scheme offers an extra low Minimum Loan Rate (MLR) at -2 percent per annum for the first year, -1 percent for the next four years, and the normal rate from the sixth year onwards.