problemfarang Posted May 15, 2019 Share Posted May 15, 2019 Hi guys, I was wondering if a foreigner can get personal loan to pay back in 1,5 year. Im working here in a secure job for 13 years. All legal paper work and so on. Married with a Thai lady for 6 years, although i dont want she knows about this at this point because of personal problems. Im open to any ideas and its urgent. I checked with UOB, its a no to foreigners. Only credit card.. which they want 50K salary. thanks Link to comment Share on other sites More sharing options...
Kwasaki Posted May 15, 2019 Share Posted May 15, 2019 3 hours ago, problemfarang said: I was wondering if a foreigner can get personal loan to pay back in 1,5 year. Only on buying a car or motorbike, the only way would be through your wife if she has proof of assets. 1 Link to comment Share on other sites More sharing options...
jumbo Posted May 15, 2019 Share Posted May 15, 2019 First Choice from Krungsri Bank seems to have that option 1 Link to comment Share on other sites More sharing options...
problemfarang Posted May 15, 2019 Author Share Posted May 15, 2019 36 minutes ago, jumbo said: First Choice from Krungsri Bank seems to have that option So do you think i can get some loan from Krungsri by myself? 49 minutes ago, Kwasaki said: Only on buying a car or motorbike, the only way would be through your wife if she has proof of assets. Yes, it would be so easy if i use my wife for this, but as i said.. no. not want. but thanks for the answer Link to comment Share on other sites More sharing options...
problemfarang Posted May 15, 2019 Author Share Posted May 15, 2019 37 minutes ago, jumbo said: First Choice from Krungsri Bank seems to have that option So do you think i can get some loan from Krungsri by myself? Link to comment Share on other sites More sharing options...
blackcab Posted May 15, 2019 Share Posted May 15, 2019 Moved to the Banking forum. Link to comment Share on other sites More sharing options...
Berkshire Posted May 16, 2019 Share Posted May 16, 2019 Foreigners can get loans to buy a car if they have a Thai co-sign. But at least with a car, there is some kind of collateral, i.e., the car. The OP is just wanting a pile of cash for....? No bank will do it because a foreigner can just leave the country. Maybe a loan shark.... Link to comment Share on other sites More sharing options...
jumbo Posted May 16, 2019 Share Posted May 16, 2019 20 hours ago, problemfarang said: So do you think i can get some loan from Krungsri by myself? At the time in 2006 or so, I did so Citibank, Standard Chartered and UOB as foreign banks could do it as well Link to comment Share on other sites More sharing options...
4evermaat Posted May 16, 2019 Share Posted May 16, 2019 21 hours ago, jumbo said: First Choice from Krungsri Bank seems to have that option Can you please elaborate on all the minimum requirements for a foreigner to obtain a loan with this option? What can the loan be used for? Link to comment Share on other sites More sharing options...
jumbo Posted May 16, 2019 Share Posted May 16, 2019 7 minutes ago, 4evermaat said: Can you please elaborate on all the minimum requirements for a foreigner to obtain a loan with this option? What can the loan be used for? Workpermit for at least 3 year, decent salary, no previous credit issues, below retirement age when loan agreement ends They never asked anything about or from my Thai partner... I got a revolving credit at the time with a max of 485,000 thb and a VISA cc at 15,000 thb 1 1 Link to comment Share on other sites More sharing options...
4evermaat Posted May 16, 2019 Share Posted May 16, 2019 (edited) 7 minutes ago, jumbo said: Workpermit for at least 3 year, decent salary, no previous credit issues, below retirement age when loan agreement ends They never asked anything about or from my Thai partner... I got a revolving credit at the time with a max of 485,000 thb and a VISA cc at 15,000 thb Revolving credit? Do you just draw on it with a check, debit card, or is there an online portal where you pull funds into a checking/savings account in which you can withdraw? Also, did you need to speak Thai when opening the account? And your partner did not need to attend the meeting or sign any paperwork? This is all very helpful, thanks. edit: no security deposit? Edited May 16, 2019 by 4evermaat Link to comment Share on other sites More sharing options...
problemfarang Posted May 17, 2019 Author Share Posted May 17, 2019 On 5/16/2019 at 10:30 AM, Berkshire said: Foreigners can get loans to buy a car if they have a Thai co-sign. But at least with a car, there is some kind of collateral, i.e., the car. The OP is just wanting a pile of cash for....? No bank will do it because a foreigner can just leave the country. Maybe a loan shark.... funny but it seems loan shark is the only solution but i wont of course On 5/16/2019 at 11:01 AM, jumbo said: At the time in 2006 or so, I did so Citibank, Standard Chartered and UOB as foreign banks could do it as well checked, not anymore On 5/16/2019 at 11:14 AM, 4evermaat said: Can you please elaborate on all the minimum requirements for a foreigner to obtain a loan with this option? What can the loan be used for? checked, not for farangs Link to comment Share on other sites More sharing options...
4evermaat Posted May 20, 2019 Share Posted May 20, 2019 On 5/17/2019 at 8:25 PM, problemfarang said: ..... checked, not for farangs So is everything @jumbo said in post #10 no longer applicable? Link to comment Share on other sites More sharing options...
problemfarang Posted May 20, 2019 Author Share Posted May 20, 2019 (edited) 2 hours ago, 4evermaat said: So is everything @jumbo said in post #10 no longer applicable? No. But UOB told me if i have 50K income i can have credit card. And then I can ask for some cash money depending on my credit card. So lets say my salary is 50K my card limit will be 80K and if i want some cash money they can give me something. How much.. i dont know. I dont think its more than 80K Bangkok Bank says my income must be 100K for a credit card. Edited May 20, 2019 by problemfarang Link to comment Share on other sites More sharing options...
jumbo Posted May 20, 2019 Share Posted May 20, 2019 (edited) On 5/16/2019 at 11:30 AM, 4evermaat said: Revolving credit? Do you just draw on it with a check, debit card, or is there an online portal where you pull funds into a checking/savings account in which you can withdraw? Also, did you need to speak Thai when opening the account? And your partner did not need to attend the meeting or sign any paperwork? This is all very helpful, thanks. edit: no security deposit? I have a credit limit without any collateral that I can draw down on whenever I need or want I received a card which also serves as a creditcard with a limit of 15,000 thb If I draw down I need to choose option; personal loan and the CC can only be used as that, no cash draw down. At the time my Thai was limited some 15 years ago My partner was not involved when I requested and received. And she never signed anything No security deposit And this was the Krungsri First Choice Card Edited May 20, 2019 by jumbo 1 Link to comment Share on other sites More sharing options...
fletchsmile Posted May 20, 2019 Share Posted May 20, 2019 58 minutes ago, jumbo said: I have a credit limit without any collateral that I can draw down on whenever I need or want I received a card which also serves as a creditcard with a limit of 15,000 thb If I draw down I need to choose option; personal loan and the CC can only be used as that, no cash draw down. At the time my Thai was limited some 15 years ago My partner was not involved when I requested and received. And she never signed anything No security deposit And this was the Krungsri First Choice Card Have you ever actually tried using it though? LOL ... and either looked at the cost beforehand (preferably) or worked out the rate of interest afterwards Link to comment Share on other sites More sharing options...
jumbo Posted May 20, 2019 Share Posted May 20, 2019 7 minutes ago, fletchsmile said: Have you ever actually tried using it though? LOL ... and either looked at the cost beforehand (preferably) or worked out the rate of interest afterwards I used it for a while, but the interest was a killer 2 Link to comment Share on other sites More sharing options...
fletchsmile Posted May 20, 2019 Share Posted May 20, 2019 (edited) Loans to foreigners are possible in some circumstances, eg - car loan. I have one with Honda Leasing. Needed a salary and WP - using facilities linked to your CC, in some way, and a spin off from that is installment plans charged to your CC. eg I have a CC with TMB. They have an online facility where for anything over THB 1,000 I have charged to my CC I can choose to pay by installments under their "So Good Installment Plan". Rates are: 0% for 3 months; or 0.79% per month for 6 months; or 0.69% per month for 10 months Very easy to use. All online and takes minutes to identify the items and apply and be accepted. I use the 0% for 3 months from time to time on larger purchases. Basically just splits your purchase into 3 payments each month and is free. I've never used the others though as I don't like the interest rates. They are comparable and even better than some personal loans here but still too high for my liking But without proper info from OP as to: purpose of the loan, amount of loan, proposed/desired repayment methods, income, existing banking relationships etc etc, very difficult to suggest much Edited May 20, 2019 by fletchsmile 1 Link to comment Share on other sites More sharing options...
fletchsmile Posted May 20, 2019 Share Posted May 20, 2019 4 minutes ago, jumbo said: I used it for a while, but the interest was a killer Yes that's what I expected. These days it's not uncommon (not just Thailand) for banks to give you a credit card based on X months salary up to a max amount, and then such a facility as you mentioned which is based on Y months salary, as a loan facility. But rates are high. Link to comment Share on other sites More sharing options...
4evermaat Posted May 22, 2019 Share Posted May 22, 2019 On 5/20/2019 at 1:07 PM, fletchsmile said: Yes that's what I expected. These days it's not uncommon (not just Thailand) for banks to give you a credit card based on X months salary up to a max amount, and then such a facility as you mentioned which is based on Y months salary, as a loan facility. But rates are high. Don't they have a grace period to where if you pay it off you are ok? Link to comment Share on other sites More sharing options...
jumbo Posted May 24, 2019 Share Posted May 24, 2019 On 5/22/2019 at 7:48 PM, 4evermaat said: Don't they have a grace period to where if you pay it off you are ok? 30 days Link to comment Share on other sites More sharing options...
problemfarang Posted May 24, 2019 Author Share Posted May 24, 2019 (edited) On 5/20/2019 at 1:01 PM, fletchsmile said: Loans to foreigners are possible in some circumstances, eg - car loan. I have one with Honda Leasing. Needed a salary and WP - using facilities linked to your CC, in some way, and a spin off from that is installment plans charged to your CC. eg I have a CC with TMB. They have an online facility where for anything over THB 1,000 I have charged to my CC I can choose to pay by installments under their "So Good Installment Plan". Rates are: 0% for 3 months; or 0.79% per month for 6 months; or 0.69% per month for 10 months Very easy to use. All online and takes minutes to identify the items and apply and be accepted. I use the 0% for 3 months from time to time on larger purchases. Basically just splits your purchase into 3 payments each month and is free. I've never used the others though as I don't like the interest rates. They are comparable and even better than some personal loans here but still too high for my liking But without proper info from OP as to: purpose of the loan, amount of loan, proposed/desired repayment methods, income, existing banking relationships etc etc, very difficult to suggest much Well I need 200K or 100K thai baht cash. My moms health problems back at home. Im here for 13 years and have a secure work. No credit cards but ATM cards. I can pay back 10K every month sometimes 15K. Probably can finish in 1.7 year. Have car but on my wife's name. There is no way i can get involve my wife into this loan thing. Personal reasons. For credit cards you need between 50K - 100K salary up to the bank. Checked all. So far it sounds like theres no way for me from banks. I even tried 1-2 loan sharks and still no. so.. any suggestions? lol Edited May 24, 2019 by problemfarang Link to comment Share on other sites More sharing options...
BritManToo Posted May 24, 2019 Share Posted May 24, 2019 (edited) 2 minutes ago, problemfarang said: Well I need 200K or 100K thai baht cash. My moms health problems back at home. Im here for 13 years and have a secure work. No credit cards but ATM cards. I can pay back 10K every month sometimes 15K. Probably can finish in 1.7 year. What if you die next week? Edited May 24, 2019 by BritManToo Link to comment Share on other sites More sharing options...
problemfarang Posted May 24, 2019 Author Share Posted May 24, 2019 (edited) 1 minute ago, BritManToo said: What if you die? well its about my mom. So far it looks like that. no 100 or 200 well.. nothing to do... i dont have life insurance so she cant use even i die Edited May 24, 2019 by problemfarang Link to comment Share on other sites More sharing options...
OneZero Posted August 1, 2019 Share Posted August 1, 2019 Thailand wants you to bring money into Thailand. Simple as that. Link to comment Share on other sites More sharing options...
Frequenc1 Posted October 12, 2019 Share Posted October 12, 2019 In general, personal loans can be a good idea for consumers with excellent credit. But if you don't have excellent credit, a personal loan might come with an interest rate so high that it's more than some credit card rates. Make sure you know the interest rate before you take on a personal loan. Link to comment Share on other sites More sharing options...
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