KBank unveils its part in soft-loan programme
Kasikornbank is offering 3 per cent fixed housing loan rate to flood victims for the first Bt1 million loan, in response to the Bank of Thailand's policy to alleviate their economic difficulties.
In a statment, the bank said that flood victims are eligible for loans for home purchases, fixing or refinancing. For the first Bt1 million, the fixed rate is no ffer for a 5-year period.
Chatchai Payuhanaveechai, executive vice president of the bank, said that the bank targets to lend a total of Bt32 billion to over 20,000 borrowers under this programme.
The campaign is open for application from March 10 this year to Dec 30, 2013, or until the set-aside amount runs out.
For the sum above Bt1 million, borrowers will enjoy a zero per cent rate for six months, then they can choose one of seven interest-rate programmes. The special rate is on offer only for applicants who file document before the end of April, 2012.
"Eligible for the loans are home owners or those whose rented houses were flooded, who want to buy new properties in safe areas. Refinancing loans will be available to home owners who free themselves from mortage loan obligations. Covered include existing mortgage loan clients of the bank who need refinancing loans," Chatchai said.
The loan is part of the government's Bt300 billion soft-loan programme. While Bank of Thailand is injecting Bt210 billion to the programme, financial institutions will contribute at least Bt90 billion.
