phka Posted February 22, 2021 Share Posted February 22, 2021 Can anyone tell me what documents are needed for a THAI person to borrow money from a bank or other lender, I'm told that electric and water bills in their name is sufficient. 1 Link to comment Share on other sites More sharing options...
Popular Post OneMoreFarang Posted February 22, 2021 Popular Post Share Posted February 22, 2021 20 minutes ago, phka said: Can anyone tell me what documents are needed for a THAI person to borrow money from a bank or other lender, I'm told that electric and water bills in their name is sufficient. Maybe the person should just call the bank and ask... 7 2 Link to comment Share on other sites More sharing options...
FritsSikkink Posted February 22, 2021 Share Posted February 22, 2021 Depends how much they want to borrow, the bank need some guaranty they get some money back. 1 Link to comment Share on other sites More sharing options...
asiaexpat Posted February 22, 2021 Share Posted February 22, 2021 Documents needed depends on the amount and purpose for the loan. Simple personal loan usually requires some proof the loan can be repaid, like pay slips. Loan to buy a house is much more complicated. Link to comment Share on other sites More sharing options...
Kwasaki Posted February 22, 2021 Share Posted February 22, 2021 3 hours ago, phka said: Can anyone tell me what documents are needed for a THAI person to borrow money from a bank or other lender, Thailand using similar ways like securities, insurance policies, proof of earnings just like any other country does. Link to comment Share on other sites More sharing options...
ronaldo0 Posted February 23, 2021 Share Posted February 23, 2021 Need to be able to provide proof of a steady income and employment over quite a while and having property or a guarantor doesn’t mean the bank will say yes . 2 Link to comment Share on other sites More sharing options...
Satcommlee Posted February 23, 2021 Share Posted February 23, 2021 Some banks may even ask for evidence of education - so they are convinced the person could get a job to repay the debt. I know of a case where bank declined a loan even with collateral offered because the person was uneducated. 2 Link to comment Share on other sites More sharing options...
Bradmeister Posted February 23, 2021 Share Posted February 23, 2021 Op, They need to go to the Bank and inquire in person. I think that may have been answered ready. Link to comment Share on other sites More sharing options...
Luttevlal Posted July 14, 2021 Share Posted July 14, 2021 I hope that I will pay all my debts soon. Because of them, I have already taken a loan for myself Link to comment Share on other sites More sharing options...
Luttevlal Posted July 27, 2021 Share Posted July 27, 2021 On 7/14/2021 at 11:51 AM, Luttevlal said: The correct process of borrowing money from the bank or other microfinance institutions must be well analyzed and decisions made to be economically correct. I had a few loans from the bank and I believe that this was not the most correct decision, I had quite large losses. Later I understood that the financial mechanism works differently, and loans from the bank should only be used in cases of extreme necessity. But in cases where you have insufficient money, you can capitalize on your assets, I use this method by https://www.yhdistalaina.com/lainojen-yhdistaminen-santander/. I consider this as the most correct method, because you do not risk with your heritage, but you can cash in the amount of money you need Link to comment Share on other sites More sharing options...
mvdf Posted July 28, 2021 Share Posted July 28, 2021 On 2/23/2021 at 2:28 PM, Satcommlee said: Some banks may even ask for evidence of education - so they are convinced the person could get a job to repay the debt. I know of a case where bank declined a loan even with collateral offered because the person was uneducated. Perhaps worried the borrower might use the i-didn't-know-what-i-signed loophole to render the contract null and void. Link to comment Share on other sites More sharing options...
MrJ2U Posted July 28, 2021 Share Posted July 28, 2021 (edited) They need to prove income of at least 15,000 baht for 6 months. Pay stubs and tax ID. Shop around. Interest rates in Thailand can be very high and there may be penalties for paying the loan off early. Edited July 28, 2021 by MrJ2U Link to comment Share on other sites More sharing options...
hotchilli Posted July 28, 2021 Share Posted July 28, 2021 Depends what the loan is for, ie: personal or commercial. Also the size of the loan? In the minimum I would say proof of id, proof of residence, personal or company income, financial history, securities or savings etc are a good place to start Link to comment Share on other sites More sharing options...
khunPer Posted July 28, 2021 Share Posted July 28, 2021 On 2/22/2021 at 10:00 AM, phka said: Can anyone tell me what documents are needed for a THAI person to borrow money from a bank or other lender, I'm told that electric and water bills in their name is sufficient. A bank will not be satisfied with even a huge stack of electric and water bill, but ID-card and House Book might be accepted as proof of address. Furthermore some documentation of income, and security would normally be needed. Other lenders, depending of how grey, might need less documentation, but often security; other lenders, especially quite grey ones, might charge an outstanding high interest. Link to comment Share on other sites More sharing options...
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