Next Money Expo to feature zero-interest deals
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THE 15th "Money Expo", which will be held from May 7-10, will see many zero-interest mortgage plans offered by both state-owned and commercial banks.
Government Savings Bank will offer the most attractive campaign for housing loans at the event, highlighting zero interest for the first 10 months.
Krungthai Bank will offer zero interest for six months to customers who apply for a mortgage at the expo.
Bank of Ayudhya will offer a three-month zero-interest mortgage, and one-day approval for customers who apply for a Krungsri credit card. The Government Housing Bank will offer a fixed interest rate of 3.99 per cent per annum for the first three years of a mortgage.
TMB Bank offers a similar deal as GHB, with a fixed rate of 3.99 per cent per annum for the first three years and free fire insurance.
Bangkok Bank will highlight its one-day pre-approval for customers who ask for a housing loan at the fair.
BBL executive vice president Thaweelarp Rittapirom said the Money Expo would be an indicator of whether consumer spending will be able to recover during the rest of the year after a slow first quarter.
He said zero-interest mortgage packages remained a favourite gimmick for financial institutions to attract prospective customers, who are looking to keep their financial burdens down while the economy struggles.
Credit-card providers are also getting into the zero-interest game. CIMB Thai Bank is offering no-interest instalments for three months on all products purchased anywhere in the world.
Standard Chartered Bank (Thai) is offering three months interest-free for personal loans taken at the expo.
The Money Expo’s organiser expects the four-day event to see about Bt93 billion worth of transactions, the same as last year, mostly mortgages and loans to small and medium-sized enterprises.
