The Cabinet has approved a housing loan measure from the Government Housing Bank with a total budget of 50 billion baht, offering a fixed interest rate of 2.50% per year for the first 3 years. This loan is available for purchasing land with buildings or condominiums from real estate developers nationwide, with a purchase price not exceeding 3 million baht. For a loan of 1 million baht, the monthly payment for the first 3 years starts at just 3,300 baht/month. Compared to the monthly payment of a standard loan with an interest rate for the first 3 years, borrowers will save 80,400 baht. Applications for loans and legal transactions can be submitted from October 24, 2019, to December 24, 2020.

Mr. Chatchai Sirilai, Managing Director of the Government Housing Bank, revealed that the Cabinet meeting on October 22, 2019, approved measures to stimulate the economy through the real estate sector to support citizens in owning affordable housing, particularly for low and middle-income groups, working-age individuals, or those starting families, as well as the elderly. This initiative aims to improve quality of life, enhance family stability, and stimulate the economy in the real estate sector and related businesses by implementing the "Housing Loan Measures of the Government Housing Bank" with a total budget of 50 billion baht, offering a relaxed interest rate of 2.50% per year for the first three years, 4.625% for the fourth and fifth years, and from the sixth year until the end of the loan term, MRR - 1.00% per year for welfare cases and MRR - 0.75% for retail cases (currently, the MRR rate of the Government Housing Bank is 6.625% per year). The purpose is to provide loans for purchasing land with buildings or condominiums from real estate developers nationwide with a purchase price not exceeding 3 million baht.

“The housing loan measures of the Government Housing Bank represent a government policy aimed at creating opportunities for Thai people to own homes. The average interest rate for the first three years is only 2.50%, which is the lowest in the market, and it helps alleviate housing costs during the first three years. For instance, for a loan of 1 million baht, the monthly payment for the first three years will only be 3,300 baht. Compared to the standard loan payment for the first three years, borrowers can save 80,400 baht, or if compared to the standard loan payment for the first five years, borrowers can save up to 123,600 baht. Additionally, there is a reduction in housing purchase costs.

According to the Cabinet's resolution, the registration fee for the transfer of ownership has been reduced from 2% to 0.01%, and the mortgage registration fee has been reduced from 1% to 0.01%.” Mr. Chatchai stated.


Interested individuals can apply for loans and legal transactions from October 24, 2019, to December 24, 2020. For consultations with loan officers or to inquire for more details, please contact the Government Housing Bank at any branch nationwide or the Customer Service Center (Call Center) at 0-2645-9000 or visit www.ghbank.co.th and the Government Housing Bank Facebook Fanpage.