Government Savings Bank invites you to save and win with high returns and tax exemption through 'Digital Savings Lottery 1 Year' and 'Digital Savings Lottery 3 Years'. Simply have MyMo to deposit immediately and receive various souvenirs. For the Public Housing Loan, the fixed interest rate for the first 3 years is 2.90%. Special conditions for SMEs loans with low interest rates and free guarantee fees for 4 years at the Money Expo Chiang Mai booth from November 8-10, 2019, at Central Plaza Chiang Mai Airport.

The Government Savings Bank presents special promotions for all products and services at the Money Expo Chiang Mai, showcasing interesting products such as Digital Lottery on MyMo: Digital Savings Lottery 1 Year and Digital Savings Lottery 3 Years, offering high interest returns and prizes, along with tax exemption. For the Public Housing Loan, the fixed interest rate for the first 3 years is 2.90%. Special conditions for SMEs loans with low interest rates and free guarantee fees for 4 years totaling 7%, and a housing loan promotion with 0% interest for 6 months. GSB SMEs Startup Loan No.1 requires only an interesting idea and innovation, with a maximum loan amount of 10 million baht and an interest rate of 1.99% for the first year.

Today (November 8, 2019), Dr. Uttama Savanayana, Minister of Finance, honored the opening ceremony of the Government Savings Bank booth at the 14th Chiang Mai Money Expo held from November 8-10, 2019, at Chiang Mai Hall, Central Plaza Chiang Mai Airport. Mr. Santi Wiriya Rangsrit, Chairman of the Executive Board and Editor-in-Chief of the Financial Banking Journal Group, as the organizer, also attended the ceremony, with Mr. Patcharapong Anonsiriporn, Assistant Director of the Government Savings Bank, welcoming guests.

Mr. Patcharapong Anonsiriporn, Assistant Director of the Government Savings Bank, Customer Business Management Division, revealed that the bank has brought comprehensive financial innovations to this event, presenting interesting deposit products such as Digital Lottery on MyMo, which includes Digital Savings Lottery 1 Year, allowing deposits through the Government Savings Bank's Mobile Banking (MyMo) for a duration of 1 year, accepting deposits of 20 baht per unit. After 1 year, depositors will receive a minimum interest of 0.25% per year and have the chance to win prizes 12 times a year on the 16th of each month, with the grand prize being 2 million baht. The Digital Savings Lottery 3 Years has a duration of 3 years, accepting deposits of 50 baht per unit, with a minimum interest of 0.667% per year and the chance to win prizes 36 times a year on the 16th of each month, with the grand prize being 10 million baht (3 prizes), 1 million baht (2 prizes), and other prizes, including last digit prizes. Both types of savings lottery offer tax-exempt returns on interest and prizes.

Additionally, there are special deposit products for seniors aged 60 and above, including 'Special Savings Deposit for Seniors 24 Months', which is available only for individuals aged 60 and above, allowing one account per person with a minimum deposit of 10,000 baht and a maximum deposit of 1 million baht. The deposit period is 24 months with a step-up interest rate: months 1-6 = 1% per year, months 7-12 = 1.5% per year, months 13-18 = 2% per year, and months 19-24 = 3% per year, averaging an interest rate of 1.875% per year (equivalent to a fixed deposit of 2.206% per year).

Regarding loan products, the Public Housing Loan is offered at a fixed interest rate of 2.90% for the first 3 years, and from the 4th year onwards, MRR-0.50% per year (current MRR rate = 6.87% per year). For those looking to buy a house with land, the bank offers loans of up to 95% of the appraised value, for condominiums up to 90%, and for constructing residences up to 100% of the appraised value. Borrowers must be at least 20 years old, have a stable job, and income, with special conditions allowing repayment terms of up to 40 years, enabling borrowers to pay until the age of 70.

Meanwhile, the SMEs loans are available in 3 forms: GSB Flexible SMEs Loan, GSB Sustainable SMEs Loan, and GSB Single Account Loan. Borrowers can be entrepreneurs in the Startup group, innovative entrepreneurs, SMEs, or large businesses. The GSB Flexible SMEs Loan is for working capital, while the GSB Sustainable SMEs Loan is suitable for investing in fixed assets. Both types have a maximum loan amount of 10 million baht, while the GSB Single Account Loan is suitable for both working capital and fixed asset investment with a maximum loan amount of 100 million baht. All three loan types have the same interest rate: short-term loans for the first 2 years at 4% per year, years 3-4 at 6% per year, and from year 5 onwards at MLR/MOR to MLR/MOR + 1%. For long-term loans, the first 2 years are at 4% per year, years 3-4 at 6% per year, and years 5-7 at MLR/MOR to MLR/MOR + 1%. Additionally, borrowers can use the Small Industry Credit Guarantee Corporation (SCGC) as a guarantor, with SCGC waiving the guarantee fee of 1.75% per year for 2 years, and the Government Savings Bank covering the fee for another 2 years, totaling a 4-year exemption, equating to 7%. This shows that regardless of the type of SME, all three loan forms cover entrepreneurs from the startup phase to large businesses.

Mr. Patcharapong further stated that the housing loan is for those deciding to purchase a residence or refinance to reduce interest expenses. For general customers, when choosing life insurance to cover 100% of the loan amount and duration, and refinancing from other financial institutions while also taking life insurance to cover the loan amount according to the bank's criteria, the interest rate is 0% for 6 months, months 7-12 at MRR-5.37% per year (current MRR rate = 6.87% per year), years 2-3 at MRR-2.97% per year, and from year 4 onwards at MRR-1.37% per year (averaging 3 years = 2.850%). The GSB Home Exchange Loan has a maximum loan amount of 10 million baht with a repayment term of up to 30 years, requiring borrowers to take life insurance to cover the loan amount according to the bank's criteria and apply for services/products as specified by the bank, with a fixed interest rate of 3.60% per year, after which it will be MRR-0.50% per year, with legal documentation to be completed by December 30, 2019.

Meanwhile, the GSB SMEs Startup Loan No.1 requires only an interesting idea and innovation, with a maximum loan amount of 10 million baht. If using collateral of more than 50%, the interest rate for the first year is 1.99% per year. After that, for short-term loans (O/D, P/N), the interest rate is MRR+2.00% per year, while for long-term loans (L/T), the interest rate is MRR+1.75% per year. The GSB SMEs Startup Loan is for entrepreneurs looking to transition to small business, with a maximum loan amount of 10 million baht and collateral of more than 30%, with an interest rate of 3.99% for the first 2 years.

“In addition to the various products offered by the Government Savings Bank, customers using any service or product will receive free souvenirs, along with interesting activities and diverse entertainment for customers and visitors to enjoy throughout the event,” concluded the Assistant Director of the Government Savings Bank.

Thank you for the information from www.gsb.or.th