Bangkok: The Government Housing Bank (GHB) has announced its support for the government’s “Quick Big Win” policy aimed at resolving public debt through a comprehensive set of six measures. The initiative focuses on interest rate reductions and extending installment payment periods for customers facing financial challenges, particularly those with special monitoring (SM) status or non-performing loans (NPLs). This assistance will be available for up to two years.
According to Thai News Agency, Mr. Kamolpop Virapala, President of GHB, emphasized the bank’s commitment to aligning with the government’s economic policies to tackle household debt, a significant hurdle in national economic progress. Over 233,916 accounts are already benefiting from these relief measures, which cover a principal balance of 263.601 billion baht. The measures target customers whose incomes have been adversely affected, offering them a structured financial reprieve.
The six measures outlined by GHB include “HD1” and “HD2,” which provide installment adjustments for SM customers with loans over specific durations. These measures offer reduced interest rates and structured payment plans for a year. The “DC1” and “DC2” measures cater to both SM and NPL customers, offering tailored interest rates and payment terms over one to two years. The “M24” measure focuses on various customer categories impacted by economic challenges, while the “M17” measure is designed for NPL debtors undergoing restructuring with the bank.
GHB’s efforts in debt resolution have not gone unnoticed. The bank was honored with a plaque for its contributions to financial institutions and partnerships with the Department of Rights and Liberties. This recognition underscores GHB’s role in the successful execution of events like the “Debt Resolution Fair,” reflecting its dedication to aiding customers in debt resolution and preserving homes for Thai citizens.
To participate in these programs, customers can register via the GHB ALL BFRIEND application, providing proof of income impact for evaluation. Customers without access to smartphones can complete a form to request assistance, ensuring inclusivity in access to these relief measures.