The use of solar energy is being encouraged by the Phuket government

Solar energy is encouraged by the Phuket government : The Government Savings Bank of Thailand has unveiled a new loan, called GSB Go Green, to encourage the use of renewable energy and reduce environmental impact. The loan aims to finance the installation and purchase of solar panels and other energy efficient equipment to reduce household energy costs in the country and help combat global warming. The GSB Go Green loan will also cover the purchase of electric vehicles, hybrid cars, electric motorbikes and energy efficient electrical appliances.

Interest rates on these loans can be as low as 1.99%, with monthly payments starting at 199 baht for each 100,000 baht loan. The loan programme is available to people aged 20 years and above, with a maximum repayment period of 70 years combined with the age of the borrower.

The GSB Go Green loan encourages the adoption of renewable energy as an alternative to traditional energy sources, while allowing households to reduce their costs. Rattanakorn stressed the importance of combating climate change by promoting reusable, safe and environmentally friendly energy to reduce greenhouse gas emissions.

The maximum loan available is 500,000 baht per person and must be repaid within a maximum of seven years. The fixed interest rate for these loans is 7.99%, with monthly payments of 799 baht for every 100,000 baht borrowed.

If borrowers provide collateral such as land or property, they can enjoy a repayment period of up to 30 years with fixed interest rates as low as 1.99%, and monthly payments starting at 199 baht for every 100,000 baht borrowed. This offer is available until 30 December 2023. Applications for GSB Go Green loans can be made at any Government Savings Bank branch in Thailand, and further information is available at www.gsb.or.th or by contacting the GSB contact centre on 1115.