The Cabinet meeting has approved the Government Housing Bank (GHB) to continue the “State Housing Loan Project (Million Houses Project Phase 2)” with a total budget of 20 billion baht to assist low-income individuals, those starting families, and the elderly in acquiring their own homes. The fixed interest rate for the first 4 years is set at 1.99% per annum for loans to purchase properties priced up to 1,200,000 baht, including new homes, second-hand homes, and GHB's NPA assets.

            The fixed monthly payment is 5,000 baht for up to the first 84 installments (in the case of a 1.2 million baht loan, the maximum repayment period is 40 years). There are no fees for 4 types: 1. Loan application fee 2. Collateral appraisal fee 3. Registration fee for rights and legal acts 4. Mortgage registration fee.

Registration can be done via the Mobile Application: GHB ALL to receive a code to participate in the project starting Friday, September 10, 2021, at 9:00 AM onwards.

          Mr. Chatchai Sirilai, Managing Director of the Government Housing Bank (GHB), announced that the Cabinet meeting today (September 7, 2021) has approved GHB to continue the “State Housing Loan Project (Million Houses Project Phase 2)” with a total budget of 20 billion baht.

            As proposed by the Ministry of Finance, after the bank's board of directors, led by Mr. Yuthana Yimkarun, approved the project to assist the public, especially low-income groups who cannot access loans from financial institutions, those starting families, and the elderly to have their own homes more easily.

            The product offers low-interest loans with relaxed conditions for purchasing properties priced up to 1,200,000 baht, with a fixed interest rate of 1.99% for the first 4 years, MRR -2% for years 5-7, and MRR for the 8th year and throughout the loan term.

- For general retail customers: MRR -0.75% per annum.

- For welfare customers: MRR -1% per annum.

- For loans to purchase equipment: MRR (currently, the MRR interest rate of the bank is 6.150% per annum).

            Repayment can be extended up to 40 years with fixed payments for the first 84 installments (7 years). In the case of a 1,200,000 baht loan, the monthly payment is 5,000 baht during the first 84 installments, allowing loans for purchasing homes or condominiums, whether new residences from property developers, second-hand homes, or GHB's NPA assets, for construction and purchasing equipment or facilities for living along with the home or condominium.

            Special!! GHB helps reduce the cost of home ownership for customers by waiving 4 types of fees:

1. Loan application fee (0.1% of the loan amount)

2. Collateral appraisal fee (1,900-2,300 baht)

3. Registration fee for rights and legal acts (1,000 baht per case)

4. Mortgage registration fee (1% of the mortgage amount)

 

            Additionally, to increase opportunities for low-income individuals to own homes, GHB has relaxed conditions for customers participating in the project to help them secure appropriate loan amounts, including those with regular jobs or self-employed individuals. The bank also allows the use of proof of rent payments or down payment installments for at least 12 months as part of the loan consideration.

            If customers cannot provide proof of income, they can register to participate in the Financial Literacy program and save regularly for at least the monthly installment amount for a minimum of 9 months to use as evidence for loan consideration with the bank.

 

        Customers interested can receive a code to participate in the Million Houses Project Phase 2 nationwide starting Friday, September 10, 2021, at 9:00 AM onwards by simply downloadingMobile Application: GHB ALL and registering to receive a participation code.

           Once all steps are completed, customers will receive a 9-digit code via GHB Buddy on the Line Application (3 letters and 6 numbers) to present when applying for a loan starting Friday, September 10, 2021, and legal transactions must be completed by December 30, 2023, or before the project budget is fully utilized.

 

            Additionally, GHB has brought over 1,500 second-hand homes or NPA assets nationwide priced at no more than 1,200,000 baht, with discounts of up to 50% from the regular selling price to participate in the Million Houses Project Phase 2. Early reservations will have priority.

Special!! GHB further reduces costs for customers purchasing NPA assets in 3 additional ways:

First: Choose to use a 0% interest down payment plan for up to 12 months before applying for a loan using the interest rate of the Million Houses Project Phase 2.

Second: Free! Fire insurance for the first 3 years for the first 150 customers who purchase and transfer ownership within 2 months from the date of the sale agreement.

Third: A security deposit of only 5,000 baht for all items. Information on NPA assets participating in the Million Houses Project can be found at www.ghbhomecenter.com or Mobile Application: G H Bank Smart NPA and Line Official Account: @GHB NPA.

 

For more information, please contact GHB at branches nationwide.

Or Customer Service Center (Call Center) at 0-2645-9000.

Or visit the Facebook Fanpage of the Government Housing Bank.

And follow news updates via Mobile Application: GHB ALL and www.ghbank.co.th.