Bank Loans

[omlagus]

I have been legally working here on a Non-B Visa for about a year and i am legally married and always i leave a few thousand baht in the bank out of my monthly salary but not too much, so is it possible to obtain a bank loan for a small amount of money, about 40,000B, or not.

'the truth is out there'

[Digger]

I have been legally working here on a Non-B Visa for about a year and i am legally married and always i leave a few thousand baht in the bank out of my monthly salary but not too much, so is it possible to obtain a bank loan for a small amount of money, about 40,000B, or not.

'the truth is out there'

Why dont you ask a bank?

Easy enough once you prove you have assets in Thailand far in excess of what you want to borrow and that you can comfortably afford to repay say a years loan from one single monthly salary. Oh by the way likely to need a Thai guarantor and sign over sufficient land chanots as collateral for the loan. Easy for those that dont really need to borrow the money but thats how banks think and assess you here.

Hope this helps

[eyespan]

Omlagus, it doesn't take a guru to tell you what Digger just said. You have a better chance borrowing from the Indian money lenders. Although I think that they are definitely illegal, which means there is a chance they get caught and you won't have to pay up. Rates at 10%/month, time negotiable, instalments payable daily.

[ka12345]

I have a VISA with B100k credit line with Bank of Asia.

They wanted:

* Work permit

* Passport

* 6 months of pay slips

* 6 months of bank statements

I can't imagine that a traditional loan would be much different than a credit card...

[eyespan]

KA sorry but what kind of pay are they looking for and what company are you working for? Maybe it matters?

[ka12345]

KA sorry but what kind of pay are they looking for and what company are you working for? Maybe it matters?

Not sure but at the time I was making B120k on my job in TH and a few hundred k on consulting outside TH. So the credit I was granted was a little bit less than my local monthly income.

On the other hand, I had no history with Bank of Asia at the time, I just responded to one of their credit card offers that they sent me. Later I moved all my local banking to them because they are far better and easier to deal with than Bangkok Bank.

[eyespan]

Maybe a good idea for me to try BOA as well then. BKK Bank is what I am using now for my international transfers and they have a branch in every major city in asia. Not know much about BOA consumer banking.

[omlagus]

Thanks guys!

Why didn't i think about asking a Bank!!! Well, it's time consuming and i wanted to know if it is possible or not because i've heard so many rumours. But i will enquire now at a couple of Banks.

Cheers

[RamdomChances]

To get a loan from a bank you have to prove beyond a dout that you dont need it !!

[OldAsiaHand]

But i will enquire now at a couple of Banks.

Before you do, think carefully about who you might know at some bank working in even a midlevel position. If you don't know anyone, pole your friends and family. Surely somebody you know can give you a personal introduction to someone who in turn can give you a personal introduction somewhere.

With that, your request will grease tight through if you're even halfway qualified. Without it, you will probably have no chance at all no matter how well qualified you are. Just showing up at a bank as a stranger here is an almost automatic turn down. If you were anyone they were willing to do business with, you would know somebody. It really is just that simple.

[omlagus]

Cheers! OldAsiaHand, thanks for the info. I haven't asked at any Banks yet but your suggestion seems worth pursuing. It just so happens that one of the Thai English teachers whom i know has a daughter who works in SCB, and she just married the manager not so long ago.

I'll see what happens this week.

Regards,

Omlagus.