GSB partners with the Ministry of Education in the initiative “Moving Forward with Teachers... Helping Educators Achieve Financial Freedom” to reduce the interest rate on teacher loans to 3.50% per year until the end of 2027. Monthly payments remain unchanged, allowing more principal to be paid off and debts to be cleared faster.
Today (20 Aug 2026) at the Ministry of Education, Mr. Prasert Chantraruangthong, Minister of Education, and Mr. Songpol Chewapanyaroj, Director of Government Savings Bank (GSB), jointly announced the project “GSB Moving Forward with Teachers... Helping Educators Achieve Financial Freedom.” This collaboration aims to reduce the debt burden of teachers and educational personnel and support faster debt payoff. GSB will lower the interest rates for borrowers in the welfare loan programs Ch.P.K. - Ch.P.S. and the Educational Professional Assistance Program. For borrowers with normal status (those who have good repayment records), who meet criteria such as paying interest on time, having no legal issues, and contracts not maturing in 2026, the interest rate will be reduced to 3.50% per year until December 2027. From January 2028 onward, the rate will be MLR/MRR minus 2% per year, based on the original contract rates. Meanwhile, teachers who do not yet qualify may restructure their debt under specified conditions before joining the program.
Mr. Songpol Chewapanyaroj, Director of GSB, explained that the current economic situation affects the cost of living, while household debt remains high. GSB prioritizes helping reduce debt burdens for the public, including teachers and educational personnel who are the nation's pillars. Currently, there are more than 280,000 accounts of teachers and educational staff who are debtors in the welfare loan programs Ch.P.K. / Ch.P.S. and the Educational Professional Assistance Program from 2005 to 2015 that still carry debt. GSB launched this interest rate reduction project to help these borrowers maintain good repayment discipline and reduce debt burdens faster by lowering the interest rate for good-paying borrowers from the previous 4% to 3.50% per year until the end of 2027.This rateis considered lower than the loan interest rates offered by cooperatives. Borrowers continue to pay the same monthly installment amount, but because the interest rate is reduced, the portion of the payment that previously went to interest now reduces the principal more, causing the principal balance to decrease faster and shortening the overall debt period. This leads to quicker financial freedom. Additionally, GSB offers borrowers with overdue payments the chance to restructure their debt and meet specified conditions to join this program. Previously, the bank has consistently helped solve teachers' debt problems through cooperative loans for government personnel, debt repayment assistance to close accounts for borrowers with good records and normal status, interest rate reductions, as well as legal relief measures. Over 140,000 teacher accounts have benefited and repaid debts totaling more than 120 billion baht. Moreover, the bank plans to continue measures to help other debtor groups reduce their financial burdens and repay debts faster.
To join the “GSB Moving Forward with Teachers... Helping Educators Achieve Financial Freedom” program, GSB will gradually notify eligible borrowers via SMS, letters, and alerts on the MyMo app. Borrowers are divided into two groups:
1. Borrowers with normal status (good repayment records).
- Those who are current members of Ch.P.K. / Ch.P.S. and have received notification from the bank can register for the program from today until 31 October 2026 via the MyMo app, GSB website www.gsb.or.th, or any GSB branch nationwide. Those who register earlier will receive the interest rate reduction sooner.
- Those who have lost their membership status in Ch.P.K. / Ch.P.S. but wish to join the program to receive the interest rate reduction must first apply to reinstate membership with the Office of the Teachers' Council (S.K.S.K.) under specified criteria before registering with GSB by 30 November 2026.
2. Borrowers who need to restructure their debt before joining the program. These include borrowers paying interest below the bank's required rate, those with legal status, contracts maturing in 2026, or those with overdue debts. They can contact any GSB branch to join the program. If they maintain good payments for 3 consecutive installments and return to normal debt status by December 2026, they will be eligible for the interest rate reduction.
This program aims to help teachers and educational personnel with debt better manage their obligations, reduce interest burdens, and repay debts faster. It aligns with GSB’s role as "The Bank for Every Life," dedicated to assisting people in managing finances and resolving debt problems to build lifelong financial stability. The terms of the interest rate reduction follow the bank’s criteria. For more details, contact any GSB branch nationwide, visit the websitewww.gsb.or.thor call the GSB Contact Center at 1115.