Economy
Government Savings Bank Announces Debt Relief for Flood-Affected Customers
The Government Savings Bank (GSB) has launched a three-month debt suspension program with interest waivers for customers in flood-declared disaster zones.
According to Khaosod Online, the Government Savings Bank (GSB) has introduced urgent financial relief measures for customers impacted by the ongoing flooding across Thailand. GSB Director Songpol Chevapanyaroj stated that the bank is responding to government policy by offering a three-month suspension of principal payments, during which no interest will be charged. The bank will waive all interest accrued during this period, and the deferred principal will be added to the final installment of the loan contract.
This relief applies to customers residing or operating businesses in areas officially designated as disaster zones by the Department of Disaster Prevention and Mitigation (DDPM). In addition to the debt suspension, the bank is offering special credit facilities for emergency expenses, home repairs, and business rehabilitation, with loan amounts reaching up to 5 million baht and 0% interest for the first three months on specific products.
For residents and business owners, this measure aims to alleviate immediate financial pressure during the recovery phase. The bank will notify eligible customers directly via SMS or mail. Those who do not wish to participate or have specific inquiries should contact any GSB branch. It remains to be confirmed which specific loan categories are excluded from these measures and the exact documentation required for those who do not receive an automated notification.
