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Banks offer mortgage deals in drive to hit loan targets

May 09. 2017
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By The Nation

KASIKORNBANK (KBank) and TMB Bank are offering mortgage promotions in a bid to secure their home-loan targets for this year.

Alongkot Boonmasuk, the head of Kasikornbank's housing loan and micro loan product management department, said the bank is offering eased terms under what it calls its “Super Value K-Home Loan Festival” marketing campaign. Loan limits will be granted at up to 90 per cent of the property purchase price, with the possibility of obtaining additional funds under the K-Home Decor Loan scheme. Finance for decorations will be available at up to 10 per cent of the property purchase price; the combined amounts cannot exceed 100 percent of the appraisal price. 

The interest rates will be zero for the first three months, then 3.5 per cent for the fourth to 12th months. Until the 36th month, it will be the minimum retail rate (MRR) minus 1.8 per cent. The rest of the loan will be at MRR minus 1.25 per cent. KBank’s MRR is 7.62 per cent a year.

KBank customers participating in the campaign will receive privileges and discounts from KBank’s business partners such as AIS Fibre, which offers 50 per cent off its home broadband Internet package for three months and entertainment from the AIS Playbox.

Applications will be taken until October 31.

KBank expects the campaign will be well-received and has set a target to extend the promotion to Bt8 billion. For 2017, the bank is targeting Bt52.9 billion in new K-Home loans, and expects that outstanding home loans this year will grow 5-7 per cent, Alongkot said.

Meanwhile, TMB Bank is offering a mortgage promotion until July 31. The bank will fix the interest rate at 4.25 per cent for the first three years. The initiative is part of the bank’s drive for 8 per cent growth in mortgage loans this year from the previous year.


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