Bangkok--22 Nov--BBL
Bangkok Bank has been appointed by the Government Pension Fund (GPF) to offer education loans to GPF members.
Loans from Baht 50,000 to Baht 500,000 will be available to pay tuition fees for GPF members and their children enrolled in educational courses from kindergarten through to university degrees, including doctorates, in Thailand or overseas.
Bangkok Bank Executive Vice President Bordin Unakul said Bangkok Bank and the GPF were working together to help GPF members and their children further their education and use their knowledge to improve their skills and quality of life, ultimately laying a foundation for developing the country.
“The GPF education loan reflects Bangkok Bank’s community development policy which focuses on supporting education for people across all walks of life,” Mr. Bordin said.
GPF members can apply for the education loans at any Bangkok Bank branch nationwide, except microbranches, from January 1, 2007, onwards.
Loans can be drawn down in batches to meet tuition fee payment schedules and will offer repayment terms of up to 96 months, or eight years, but not longer than the borrower’s remaining years of tenure before mandatory retirement.
Loans may be unsecured, or alternatively a home, a deposit balance or a personal guarantee can be provided as collateral.
The interest rate charged varies in accordance with the type of collateral. An unsecured loan will carry an interest rate of MRR per annum in the first year and MRR+0.75% per annum from the second year onwards.