GSB Reduces Teacher Loan Interest to 3.50% Until 2027

Khaosod•Economy•6d ago

Reader Briefing

Government Savings Bank and the Ministry of Education launch a debt relief project reducing interest rates to 3.50% for eligible teachers and educational personnel.

•Government Savings Bank reduced interest rates to 3.50% per year for normal-status debtors in the Ch.Ph.K. and Ch.Ph.S. projects until December 2027.
•The initiative aims to help over 280,000 accounts of teachers and educational personnel reduce their debt burden.
•Eligible debtors can register via the MyMo app, the GSB website, or any GSB branch until October 31, 2026.

Overview

•Government Savings Bank and the Ministry of Education announced the project "GSB Steps Forward with Teachers... Helping Molds Toward Financial Freedom" on August 20, 2026.
•Government Savings Bank targets over 280,000 accounts of teachers and educational personnel who have had debts from 2005 to 2015.
•Government Savings Bank reduced the interest rate for normal-status debtors from 4% to 3.50% per year until December 2027.
•Debtors who maintain the same monthly installment amount will have a larger portion of the payment applied to the principal, shortening the debt period.
•From January 2028 onwards, the interest rate will be adjusted to MLR/MRR minus 2% per year based on the original contract.
•Debtors with payment arrears can enter a debt restructuring process to regain normal status and qualify for the reduced interest rate by December 2026.
•Government Savings Bank previously helped over 140,000 accounts close their debts, totaling more than 120,000 million baht.

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Key Entities

Organization

Government Savings Bank(ธนาคารออมสิน)

A bank implementing interest rate reductions and debt restructuring for teachers and educational personnel.

Ministry of Education(กระทรวงศึกษาธิการ)ℹ️

The ministry collaborating with Government Savings Bank to implement teacher debt relief measures.

OTEP(สำนักงาน สกสค.)ℹ️

The office where former Ch.Ph.K./Ch.Ph.S. members must request membership restoration to join the project.

Person

Prasert Chantaroongthong(ประเสริฐ จันทรรวงทอง)

The Minister of Education who co-announced the debt relief project.

Songpol Chevapanyaroj(ทรงพล ชีวะปัญญาโรจน์)

The Director of Government Savings Bank who provided details on the interest reduction project.

Policy

Ch.Ph.K. - Ch.Ph.S.(ช.พ.ค.-ช.พ.ส.)

Loan welfare projects for teachers and educational personnel providing interest rate reductions.

GSB Steps Forward with Teachers... Helping Molds Toward Financial Freedom(ออมสินก้าวไปกับครู…ช่วยแม่พิมพ์สู่อิสรภาพการเงิน)

A project by Government Savings Bank and the Ministry of Education to reduce the debt burden of teachers.