Government Savings Bank has launched the "Back-to-School Loan" featuring a low interest rate of 0.60% per month and no collateral requirement, aimed at helping parents reduce the burden of new tuition fees. Applications can be submitted via the MyMo app.
Reporters stated that Government Savings Bank has introduced the "People's Bank Back-to-School Loan" with a total fund of 1 billion baht to help alleviate education expenses and reduce reliance on informal debt. Loans are capped at 10,000 baht per person for a maximum term of one year (12 months) without requiring collateral.
Borrowers can apply for the loan through the MyMo application or visit Government Savings Bank branches for guidance on the application process. The loan application period runs from 8 May to 31 July 2026, limited to one loan per student or borrower’s guardian. Applicants must have used the MyMo app for at least three months.In cases where the applicant has used the MyMo app with the bank for less than three months (90 days), they will not be eligible to apply for the loan.
For those approved for the loan, the bank will transfer funds into the primary deposit account linked to the MyMo app and will deduct repayments for each installment from that account.