Loans

  • Business NewsThailand’s SME D Bank offers interest-free loans to entrepreneurs

    Thailand’s SME D Bank offers interest-free loans to entrepreneurs

    Thailand’s Small and Medium Enterprise Development Bank (SME D Bank) has partnered with the National Innovation Agency (NIA) to offer interest-free loans for up to three years to entrepreneurs developing innovative products and services. Phichit Mitrawong, Managing Director of SME D Bank, announced this initiative following the signing of a cooperation agreement with the NIA yesterday. The agreement aims to…

  • Business NewsMore new businesses than closures in Thailand, employment stable

    More new businesses than closures in Thailand, employment stable

    New business registrations in Thailand continue to outpace factory and business closures, with employment figures remaining stable, according to the Bank of Thailand. Assistant Governor for the Monetary Policy Group and Secretary of the Monetary Policy Committee, Piti Disyatat stated that the central bank is not alarmed by the current rate of factory and business closures, as they are fewer…

  • Thailand NewsPolice crack down on rotating illegal lending scheme in Trang

    Police crack down on rotating illegal lending scheme in Trang

    Cyber Crime Investigation Bureau (CCIB) officers yesterday dismantled a major rotating savings and credit association (ROSCA) operation in Trang, arresting a married couple who were also running a comprehensive illegal money lending, and an unlicensed underground lottery gambling business. Police Lieutenant General Worawat Watnakornbancha today ordered relevant authorities to execute a search warrant for a house in Ratsada District, Trang…

  • Business NewsRevved up: Thai used car market set to accelerate

    Revved up: Thai used car market set to accelerate

    The used car market in Thailand is poised for growth in the latter half of this year as financial service providers may ease lending criteria for prospective buyers. According to the President of the Association of Used Cars, Vichai Suwanasilar, this development follows discussions about stringent loan conditions. “We talked about lending with banks and finance companies, which affects the…

  • Business NewsMinister proposes shorter blacklist period for bad debtors

    Minister proposes shorter blacklist period for bad debtors

    Finance Minister Pichai Chunhavajira proposed reducing the time period for which bad debtors remain on the National Credit Bureau’s blacklist, aiming to facilitate quicker access to new borrowing opportunities. While speaking at a signing ceremony for the establishment of ARI-AMC, a joint venture between the Government Savings Bank (GSB) and Bangkok Commercial Asset Management Plc (BAM), Pichai noted that the…

  • Thailand NewsMother faces 2.6 million baht debt from 10,000 baht loan

    Mother faces 2.6 million baht debt from 10,000 baht loan

    A mother who borrowed 10,000 baht to pay her child’s school fees 12 years ago is now struggling under a crippling debt of 2.6 million baht in interest. The mother, who initially took out the loan when her child was in primary school, is now seeking help from a popular Facebook page, Survive – Sai Mai Must Survive, to resolve…

  • Thailand NewsThai government cracks down on illegal loans

    Thai government cracks down on illegal loans

    Illegal lenders have been given a final ultimatum: Register with the Thai government’s debt settlement programme by May 31 or face severe consequences. Deputy Interior Minister Chada Thaised announced this stern warning yesterday, emphasising that this crackdown on illicit lending is a top priority for Prime Minister Srettha Thavisin’s administration. Despite the Interior Ministry’s success in bringing over 100,000 illegal…

  • Business NewsHome loan difficulties lead to six-year low in housing transfers

    Home loan difficulties lead to six-year low in housing transfers

    Difficulties in securing home loans have led to a significant decline in housing transfers across the country in the first quarter, reaching the lowest level in six years and marking the fifth consecutive quarter of decline. The Acting Director-General of the Real Estate Information Center (REIC) Vichai Viratkapan reported that residential demand nationwide contracted in the first quarter, with housing…

  • Thailand NewsThai government launches 300,000 baht loans for self-employed

    Thai government launches 300,000 baht loans for self-employed

    In a significant move to support the workforce, the Thai government has unveiled a loan programme aimed at self-employed individuals, providing funds up to 300,000 baht for those in need of financial assistance. This initiative, which offers zero-interest loans for a two-year period, is available until April 30, as announced by Deputy Government spokesperson Karam Phonprakong. The policy, orchestrated under…

  • Thailand NewsLoan rejections soar for Thai homes under 3 million baht

    Loan rejections soar for Thai homes under 3 million baht

    The Thai housing market is facing a significant challenge as a growing number of loan applications for homes priced below 3 million baht are being rejected. According to the Housing Finance Association, the rejection rate has spiked to 50%, highlighting the vulnerability of this segment despite its substantial market size. The association’s secretary-general and chairman of the executive board, Alangkot…

  • Business NewsLH Bank reveals strategy for mid-sized status by 2030

    LH Bank reveals strategy for mid-sized status by 2030

    Land and Houses Bank (LH Bank), the financial subsidiary of property giant Land and Houses Plc (LH), unveils its ambitious plan to become a mid-sized bank by 2030. The bank’s strategy is founded on robust loan growth and an increasing income stream. LH Bank’s five-year business strategy involves a comprehensive restructuring of its loan portfolio, aimed at driving loan expansion…

  • Thailand NewsThai nursing students demand government expedite delayed student loans

    Thai nursing students demand government expedite delayed student loans

    A group of 60 nursing and public health students from Sri Sa Ket and Nakhon Si Thammarat publicly requested the government to expedite the disbursal of their student loans, which has been delayed for several months. Four representatives from the first-year class of Chalermkarnchana University’s Faculty of Nursing at Sri Sa Ket journeyed to Bangkok to deliver a letter outlining…

  • Thailand NewsGovernment Housing Bank breaks ground with 0% down payment home loans

    Government Housing Bank breaks ground with 0% down payment home loans

    The Government Housing Bank (GHB) is set to introduce three new home loan products with a combined budget of 45 billion baht. With an initial interest rate of 0% for the first three months and a minimum monthly repayment of just 3,300 baht per million borrowed, the bank aims to make homeownership more accessible for Thai citizens. GHB, a state-run…

  • Economy NewsThai student loan restructuring to begin in November, easing debt burden

    Thai student loan restructuring to begin in November, easing debt burden

    The Student Loan Fund (SLF) recently announced that it will start the restructuring of student defaulters’ debts starting in November. This information was disclosed today by Chainarong Katchapanan, the manager of SLF, during a meeting with Justice Minister Tawee Sodsong. According to him, the necessary regulations required for the restructuring process will be finalised within the next month. Tawee, the…

  • Business NewsBangkok’s condo market: Buyers rush for ‘ready-to-move’ amid sales slump

    Bangkok’s condo market: Buyers rush for ‘ready-to-move’ amid sales slump

    The second quarter of this year witnessed a significant slump in sales for newly launched condominiums in Bangkok. Buyers, gripped by mortgage rejection fears, exhibited a strong preference for ready-to-transfer units. Tritecha Tangmatitham, Managing Director at Supalai, highlighted that a staggering 70% of condo sales in the current year have been for completed units, underscoring a marked shift in consumer…

  • Thailand NewsRoyally ripped off: Victims seek justice against police officer’s wife impersonating banker

    Royally ripped off: Victims seek justice against police officer’s wife impersonating banker

    Thommanant Taengtim, known as Ja Kings Saphan Mai, today led a group of more than 10 victims to the Central Investigation Bureau to file a complaint against the wife of a high-ranking police officer from Phahonyothin Police Station, who pretended to be a bank officer. The wife, named Noi, allegedly promised to help them get loans and even allocate lottery…

  • Crime NewsFamily tragedy: Father’s triple murder-suicide linked to loan scam

    Family tragedy: Father’s triple murder-suicide linked to loan scam

    A family tragedy occurred when a father, armed with a utility knife, killed his wife and two children in their three-storey townhouse in Bang Phli district of Bangkok Metropolitan Area province Samut Prakan. The horrific murder and attempted suicide were most likely prompted by a fraudulent loan scheme that landed the family in 7-figure debt. Police Captain Sathamon Prasertsuwan, an…

  • Business NewsThai banks see modest rise in mortgage loans

    Thai banks see modest rise in mortgage loans

    In the first six months of this year, a modest increase in mortgage loans was recorded by banks as purchasing power of homebuyers took a hit due to rising interest rates. Collectively, eight out of the ten SET-listed banks reported consolidated outstanding mortgages tallying 2.39 trillion baht as of June, marking a 1.04% rise from 2.37 trillion baht in December…

  • Business NewsHousehold debt tackled by Bank of Thailand with new guidelines

    Household debt tackled by Bank of Thailand with new guidelines

    The Bank of Thailand (BoT) is set to introduce new lending guidelines to counter the rising household debt crisis, particularly among Gen X and Gen Y age groups, according to Assistant Governor Siritida Panomwon Na Ayudhya. The central bank is also working on a draft royal decree to supervise leasing and hire-purchase businesses to resolve informal debt issues. From 2010…

  • Economy NewsHousehold debt in Thailand soars to 86.9% of GDP, dampening consumer spending

    Household debt in Thailand soars to 86.9% of GDP, dampening consumer spending

    Thailand’s mounting household debt is raising concerns, as it continues to hinder consumer spending, affecting various industries and impeding economic growth. The latest data from the National Economic and Social Development Council shows debt in the nation reached 15.1 trillion baht in the fourth quarter of 2022, a 3.5% increase year on year, and accounting for 86.9% of GDP. Debt…

  • Business NewsBank of Thailand anticipates slower loan growth: Interest rates not main factor

    Bank of Thailand anticipates slower loan growth: Interest rates not main factor

    The Bank of Thailand anticipates a slower pace of loan growth in the banking industry due to reduced demand, while asserting that rising interest rates are not the main factor impacting loan expansion. The central bank’s soft loan programme, which aimed to aid small and medium-sized enterprises, largely contributed to the increased borrowing during the post-pandemic recovery period. Sakkapop Panyanukul,…

  • Business NewsCIMB Thai Bank targets 500 million baht in digital personal loans focusing on upper-income segment

    CIMB Thai Bank targets 500 million baht in digital personal loans focusing on upper-income segment

    CIMB Thai Bank (CIMBT) has announced intentions to expand its digital personal loan offerings in the current year, aiming for a total of 500 million baht whilst primarily focusing on the upper-income segment. Recently, CIMBT introduced two digital personal loan products – the “Personal Cash” instalment loan and the “Extra Cash” credit line. These products have a combined value of…

  • Tourism NewsHotel loan program extended through June 2023

    Hotel loan program extended through June 2023

    Hotels trying to recover from closing down for the Covid-19 pandemic are getting a little extra financial help. The Thai Cabinet has decided to extend low-interest soft loans until June 2023. The loans were created to help hotels address property repairs after many opted to close when customers dried up because the borders closed amid the pandemic. The announcement was…

  • Bangkok News40 million baht illegal online lending operation busted

    40 million baht illegal online lending operation busted

    An illegal lending business that raked in over 40 million baht in just 3 months by gouging people in desperate financial need with high-interest rates has been broken up. A Chinese man was arrested in Bangkok for running the loan shark operation online. The man identified by the Metropolitan Police Bureau as Jia Liew was arrested in Huai Khwang in…

  • Ask an AgentProperty loans and LGBTQ+ couples in Thailand

    Property loans and LGBTQ+ couples in Thailand

    In today’s modern world, many companies are accepting the status of LGBTQ+ couples. And, for purchasing property through obtaining a loan, many places worldwide recognise such couples’ unions as legal. According to the LGBT GDP, Wealth & Travel Data 2018 report by LGBT Capital, it is estimated that 6.5% of the world’s LGBTQ+ population reside in Asia. And, in Thailand,…

  • Crime NewsSocial distancing violation busts Pattaya illegal loan scheme

    Social distancing violation busts Pattaya illegal loan scheme

    Covid-19 safety violations brought down a Chinese man and 39 Thai employees running an illegal loan operation in Pattaya. The group was arrested for offering money lending services after violating the Chon Buri Disease Control orders and emergency decree restrictions of social distancing and large gatherings. Chon Buri police raided the office building in Nongprue on Pattaya Second Road and…

  • Economy NewsThai household debt expected to keep rising- Kasikorn Research

    Thai household debt expected to keep rising- Kasikorn Research

    Despite rolling out Covid-19 vaccines, in which could see a faster return to pre-Covid times, Thailand’s household debt is expected to keep rising. Kasikorn Research analysts say it could, in fact, reach 89-91% by the end of the year. In a recent survey, KResearch says 10.8% of respondents could be stuck in a financial crisis. Of those who may be…

  • Thailand NewsThai police officers crippled by accumulated 270 billion baht debt

    Thai police officers crippled by accumulated 270 billion baht debt

    Thailand’s police officers have amassed a total of 270 billion baht in debts. The staggering accumulated debt trap of the country’s individual police officers was revealed yesterday by the national police chief Suwat Jangyodsuk. During Covid there has been fewer hours and overtime for duty policeman. And in the popular tourist areas there have been fewer tourists to ‘police’ and…

  • Thailand video newsThailand News Today | Protesters face arrest | Phuket “in a coma”| September 22

    Thailand News Today | Protesters face arrest | Phuket “in a coma”| September 22

    Thailand News Today with Tim Newton. Daily news from around Thailand. Struggling airlines to get reprieve through small loans, extension to fuel tax cut Airlines in Thailand are being offered a financial lifeline, as the Government Savings Bank announces soft loans for carriers left struggling as a result of the current Covid-19 ‘disruption’. The GSB is offering the loans over…

  • Economy NewsNew lease on life for 7 of Thailand’s budget airlines

    New lease on life for 7 of Thailand’s budget airlines

    PM Prayut Chan-o-cha today threw a lifeline to 7 of Thailands’ domestic low-cost airlines, beginning with the injection of 24 billion baht in soft loans for the struggling aviation sector, battered by the Covid-19 pandemic. Representatives of Thai Air Asia, its long haul division Thai Air Asia X, Thai Smile, Thai Lion Air, Thai Viet Jet, Bangkok Airways and Nok…