The government recently approved an extension to its housing loan program offered through the Government Housing Bank. This extension will allow more low-income people to take out home loans with low-interest rates.
Members of the Cabinet, in their weekly meeting last Tuesday, approved the third phase extension of the so-called Million Houses Campaign. The move will see an additional 20 billion baht available for the program, allowing the bank to offer low-interest loans to more people.
The loans offered as part of this program come with a fixed 3% interest rate for the first 5 years, with the maximum loan size capped at 1.5 million baht per person. The program allows each client to pay in installments for as long as 40 years.
Interested persons can apply until December 30, 2025, or until the program reaches its maximum number of applicants.
The program’s second phase saw 22,240 loan applications worth 19.94 billion baht approved. (NNT)
