GH Bank will reduce interest rates on all types of loans by 0.25%, effective from 1 November 2024.

GH Bank will reduce interest rates on all types of loans by 0.25%, effective from 1 November 2024.

Mr. Kamonpop Weerapala, Managing Director Government Housing Bank (GH Bank) disclosed that the Monetary Policy Committee (MPC) decided on October 16, 2024 to reduce the policy interest rate by 0.25% per annum from 2.50% per annum to 2.25 % per year to help reduce the debt burden for the population This will not hinder the process of reducing the ratio of household debt to income in a context of expansion credit tends to decline. And the policy interest rate has dropped to a level that is still consistent with the economy’s potential, as a state-owned financial institution with a mission to “make Thai people own a home” is ready to help buyers to reduce burden. living expenses. By reducing interest rates on all types of loans, including interest rates on loans for good bulk buyers. The loan type term (MLR) is reduced to 6.250% per annum and the interest rate for loans to good customers. The type of Overdraft Loan (MOR) has been reduced to 6.400% per annum, and the interest rate for primary retail customers (MRR) has previously been reduced to 0.25% per annum. The measure is expected on October 31, 2024. The interest rate will also be reduced this time to 6.545% per annum, effective from November 1, 2024 onwards.