The severe flooding in Bangkok led the city administration to declare 50 districts as disaster areas on 26 Sep 2023 GMT+7. It is expected to take about another week for the situation to return to normal.
The five state specialized financial institutions (SFIs) have announced relief measures to assist customers whose homes, businesses, and goods have been damaged by the floods.
Songpol Chiwapanyaroj, Director of Government Savings Bank, disclosed that the bank has announced a suspension of principal repayments and interest charges for 3 months to immediately ease financial burdens on customers, allowing them time to stabilize and manage urgent situations. The bank also offers special loan packages for emergency expenses, home repairs, and business recovery once the situation improves.
The 3-month principal and interest holiday means the bank waives all interest accrued during the suspension period; borrowers do not have to repay it later. The deferred principal payments for three installments will be added to the final payment. After the holiday, borrowers resume repayments under the original contract terms. This applies to all loan customers (except for certain loan types under specified conditions*) whose residence, workplace, or business location is in areas declared disaster zones by the Department of Disaster Prevention and Mitigation (DDPM).
The bank will notify eligible customers via SMS or direct mail. Customers who do not wish to participate can contact any Government Savings Bank branch or the GSB Contact Center at 1115 to continue regular repayments.
Additionally, the bank offers special loan packages with zero principal and interest payments for the first 3 months for those needing emergency funds during the crisis, including:
For recovery, those needing to repair tools or working capital to resume their occupations can apply for a small disaster relief loan up to 300,000 baht per person, with zero interest for the first 3 months. From month 4 onward, the effective interest rate is 15.00% per year, repayable over up to 7 years.
For homeowners whose houses were damaged and require repairs, there is a disaster relief home loan up to 1 million baht per person, with zero principal and interest payments for the first 3 months. From months 4 to 24, interest is 2.00% per year; in year 3, MRR minus 3.35% per year; and from year 4 onward, MRR minus 0.75% per year (the current MRR announced on 2 Mar 2026 is 6.045% per year). The bank also supports property appraisal fees up to 3,000 baht.
For SME entrepreneurs whose premises were damaged or who need to invest in protective measures, the bank offers a disaster relief loan up to 5 million baht per person. With a full guarantee from the Thai Credit Guarantee Corporation, loans up to 1 million baht per person are available. Repayment terms are up to 7 years, with the first-year interest rate at MLR minus 2.65% per year, and from year 2 onward at MLR (current MLR announced on 2 Mar 2026 is 6.025% per year). Principal repayments can be deferred for up to 1 year. Terms are subject to bank conditions.
Government Savings Bank is committed to supporting customers and residents affected by the floods by alleviating debt burdens during the crisis and supporting home, livelihood, and business recovery afterward, under the mission "Bank for Every Life." The bank sends its best wishes for safety to all flood victims. For more details and conditions, visit www.gsb.or.th or call the GSB Contact Center at 1115.
*Note: The debt holiday does not apply to certain loan types, such as large business loans, Happiness Life Loans, fixed income loans, Soft loans, community organization loans, and loans under government policy (PSA). Other conditions apply as determined by the bank.
Dr. Mahatthana Amornpisit, President of the Government Housing Bank (GHB), revealed that as a state specialized financial institution with the mission to "Provide Housing for Thais," GHB has implemented seven relief and rehabilitation measures for those affected in the flood areas under the "2026 Disaster Relief Measures," including:
Measure 1: For current customers whose collateral was damaged by the disaster, a 3-month debt holiday is offered.
Interest rates are reduced to 0% per annum, with zero monthly installments. If the collateral is severely damaged and uninhabitable, the debt holiday extends to 6 months with 0% interest and zero installments. After the relief period, customers revert to their original loan interest rates. Customers needing loans for home repairs can borrow up to 300,000 baht per person for up to 5 years.
The first 100,000 baht has a fixed interest rate of 1% per year for 3 years, and the next 200,000 baht has an interest rate of 1.99% per year, with no need for additional mortgage registration at the land office. Loan terms and conditions follow those set by the bank for repair and improvement loans and their Plus versions.
Measure 2: For current and new customers, additional loans up to 2 million baht per collateral are available for repairs or rebuilding. Interest rates are 0% per year with no installment payments for months 1 to 3; 2.00% per year for months 4 to 24; MRR minus 3.30% in year 3; MRR minus 2.40% in year 4; and from year 5 onward, MRR minus 0.50% for retail customers and MRR minus 1.00% for welfare customers. Loans for purchasing related equipment or facilities carry MRR interest (current GHB MRR is 6.145%). The loan term is 40 years. For a 1 million baht loan, monthly installments start at just 3,100 baht. The bank waives collateral appraisal fees (1,900–2,800 baht) and mortgage registration fees up to 1% of the mortgage amount to reduce customers’ expenses.
Measure 3: For non-performing loan (NPL) customers whose collateral was damaged, debt restructuring up to 1 year and 6 months is offered, with 0% interest for the first 6 months. No installment payments are required during this period. From months 7 to 18, interest is 1.00% per year, with installment payments at least equal to monthly interest. After restructuring, customers return to their original interest rates.
Measure 4: For NPL customers with income impacts, debt restructuring up to 1 year is available, with 0% interest for the first 6 months. Installments are only 1,000 baht per month during this time. From months 7 to 12, interest is 1.00% per year, with monthly installments covering interest plus 100 baht. After the restructuring period, original interest rates resume.
Measure 5: For normal and NPL customers who died or became permanently disabled, an interest rate of 0.01% per year applies for the remaining loan term. (Considered on a case-by-case basis)
Measure 6: For normal and NPL customers whose homes were completely damaged and unrepairable, debt on the building price is waived, and only the remaining land portion must be repaid. (Considered case-by-case)
Measure 7: Fast-track insurance claims for customers with fire insurance policies covering natural disasters through insurers affiliated with the bank. The bank expedites claims payments urgently on a case-by-case basis. Policyholders can report damage using photographs. Payments are based on actual damage up to 20,000 baht. For policies effective from 1 Nov 2019, additional natural disaster coverage up to 30,000 baht per year applies. (Details and conditions per policy.)
Customers can apply to participate at any GHB branch nationwide from now on. For more information, contact the G H BANK Call Center at 0-2645-9000 or visit the GHB Facebook Fanpage and social media channels.
Chatchai Sirilai, Manager of BAAC, stated that following the sudden floods causing damage in many areas affecting people's livelihoods, BAAC stands ready to support farmers with low-interest financing to alleviate distress. This funding can be used for emergency expenses, constructing or repairing homes, agricultural buildings, tools, machinery, and restoring damaged production from natural disasters. The initiatives include:
BAAC expresses concern for all affected citizens and assures full support. After conditions stabilize, BAAC will survey damages to homes, assets, and agricultural areas, collecting data to provide relief and reduce debt burdens. Affected customers can apply from now at their BAAC branches or call the BAAC Contact Center at 02 555 0555, available 24/7.
Phichit Mitrawong, Managing Director of the SME Development Bank (SME D Bank), said the bank deeply cares for SME customers and entrepreneurs. It has launched urgent relief measures for those in declared disaster areas to reduce impacts, lessen expenses, and help businesses resume operations quickly, including:
Additionally, the bank offers supplementary working capital loans for liquidity, investment, and business upgrading after the floods subside. These have a special fixed interest rate of 3% per year for the first 3 years, repayable over up to 10 years, with up to 12 months principal repayment deferral, including:
These urgent relief measures are voluntary. Entrepreneurs who wish to apply can do so from now via various channels such as any SME D Bank branch nationwide, the LINE Official Account: SME Development Bank, or the website www.smebank.co.th. For more information, call the Call Center at 1357.
Chalatch Rattanabunnithi, Managing Director of the Export-Import Bank of Thailand (EXIM Bank), announced that EXIM Bank is expediting assistance to ease financial burdens and enhance liquidity for customers affected by floods in various areas. The bank evaluates appropriate relief measures tailored to each customer's difficulties to help businesses continue stably.
These include financial relief through debt extensions, bill extensions, and interest rate reductions covering both short- and long-term loan obligations. The bank also increases temporary revolving credit lines by 20% at existing interest rates to support operational cash flow.
For more information, contact EXIM Contact Center at 0 2169 9999 or Facebook Inbox “EXIM Bank of Thailand.”
Read personal finance and financial planning news with Thairath Money to help you achieve “Good Finances, Good Life.”https://www.thairath.co.th/money/personal_finance
Follow the Facebook page: Thairath Money at this linkhttps://www.facebook.com/ThairathMoney