Summary of Loan Conditions for Solar Panel Installation and Low-Interest EV Car Purchase Loans

How to apply for the loan Loans for solar panel installation Up to 500,000 baht per person - Loans for purchasing new BEV, PHEV, HEV, FCEV vehicles Interest rate capped at 5% per year for borrowers, while motorcycles have an interest rate capped at 10% per year

Government Savings Bank (GSB) responds to the Cabinet's resolution by launching a low-interest loan project "Soft Loan GSB Revitalizing Thai Business" in the sustainable energy sector with a 5 billion baht fund to support citizens in borrowing for solar panel installation up to 500,000 baht without collateral, along with loans for purchasing all types of electric vehicles (EV) at a low interest rate starting at just 5% per year, aiming to reduce expenses and support the transition to a low-carbon society.

Mr. Songphon Chewapanyarot, Director of Government Savings Bank, revealed that following the Cabinet's approval, GSB has established the Soft Loan GSB Revitalizing Thai Business project to enhance liquidity for citizens and entrepreneurs, supporting SME business expansion with a total fund of 100 billion baht. Part of this fund is allocated to loans that support citizens' adaptation for sustainable energy amid global volatility, including loans for solar panel installation and loans for purchasing all types of electric vehicles The combined allocation for these two loan types is 5 billion baht

Soft Loan GSB Revitalizing Thai Business: Sustainable Energy Adaptation for Citizens with a 5 billion baht fund consists of

1. Loans for solar panel installation

Loans to install solar power generation systems support investment in alternative energy to reduce long-term energy costs. Citizens can apply directly to GSB

without collateral

• with a maximum loan amount of 500,000 baht
• with a 20% down payment

• and an interest rate of 3.50% per year for the first two years

With collateral

• the maximum loan amount is 1 million baht per person
• with options for 10% or 20% down payments
• The starting interest rate for the first five years is 3.25% per year (with a 20% down payment) and 3.50% per year (with a 10% down payment)

The loan covers costs for installing solar power systems and related expenses, with a maximum repayment period of 7 years. Borrowers can also claim tax deductions under government measures. Interested parties can apply at any GSB branch from now until 31 March 2027 GMT+7 or until the allocated loan fund is fully utilized.

2. Loans for purchasing electric vehicles (EV)

Loans for purchasing electric vehicles support adaptation in transportation, travel, and businesses using renewable energy to reduce expenses and transportation costs. GSB offers low-interest loans through non-bank financial service providers and financial institutions involved in car and motorcycle loans participating in the Soft Loan GSB Revitalizing Thai Business project.

• For new electric vehicles such as BEV, PHEV, HEV, and FCEV, the interest rate is capped at 5% per year for borrowers.
• Electric motorcycles have an interest rate capped at 10% per year.

Other conditions depend on policies set by each financial institution and non-bank financial service providers participating in the program.

Interested individuals can contact and choose services as convenient starting now.

Read the news " Government Policy " for more information