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‘Green’ loan to encourage renewable energy usage

‘Green’ loan to encourage renewable energy usage

PHUKET: As part of a renewable energy initiative the Government Savings Bank has announced it is introducing loans to enable people to invest in solar panels to help reduce household energy costs while having a positive impact on the environment by reducing global warming.

By The Phuket News

Wednesday 3 May 2023, 12:04PM

The ‘GSB Go Green loan’ will support the installation and purchase of equipment for ordinary people to help alleviate increasing household electricity costs, Withai Rattanakorn, President of the Government Savings Bank, said yesterday (May 2).

Fixed interest loans as low as 1.99% with repayment instalments as low as B199 per month per B100,000 loan will be offered throughout the country, said Mr Withai.

The loan can be used to purchase equipment such as solar cells, solar rooftop panels and EV installation. Additionally it can be used towards the purchase of electric vehicles (EV), hybrid cars, electric motorcycles and even electrical appliances that help save energy.

“Global warming is becoming an increasingly more serious problem, affecting people and ecosystems. It is therefore a global goal that all parties must work together to push the concept of using renewable energy into practice by promoting energy that is reusable, safe and environmentally friendly to help reduce greenhouse gas emissions which are a major cause of global warming,” Mr Withai said.

“The GSB Go Green loan can help encourage the use of renewable energy as an alternative to traditional energy sources such as electricity while benefiting households by reducing costs,” he added.

Conditions relating to the loan stipulate borrowers must be aged 20 and above. Also, when combining the borrower’s age with the loan payment period, it must not exceed 70 years, Mr Withai explained. The loan must not be any more than 10 times the total of the person’s annual income, set at a maximum of B500,000 per person on a loan payment period of no more than 7 years, with a fixed interest rate of 7.99%, and installments of B799 per month per B100,000.

Those wishing to use collateral against the loan, such as land and property, can avail an offer with a repayment period of no more than 30 years, with fixed interest rates as low as 1.99%, and installments as low as B199 per month per B100,000. This special offer is only valid until Dec 30, 2023.

Those interested can apply for credit services at any branch of the Government Savings Bank nationwide from now on.
Further details can be accessed at www.gsb.or.th or by calling a GSB Contact Center on 1115.

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