Interest rates

[deadman]

Hi there

Can anyone tell me what the average interest rate is on a housing loan here in TH? The wife and I are getting a house and need 5M or so to reach the purchase price, which she will get from the bank.

 

She's banging on about this MRR business, her explanation just leaves me more confused. From what she says it appears the interest rate is much higher than it is in foreign countries, well Australia anyway. I'm a bit out of touch now, but I recall it being less than 5%.

 

If anyone has had experience or could enlighten me, it would be much appreciated.

 

Cheers

DM

 

 

[bignok]

7 minutes ago, deadman said:

Hi there

Can anyone tell me what the average interest rate is on a housing loan here in TH? The wife and I are getting a house and need 5M or so to reach the purchase price, which she will get from the bank.

 

She's banging on about this MRR business, her explanation just leaves me more confused. From what she says it appears the interest rate is much higher than it is in foreign countries, well Australia anyway. I'm a bit out of touch now, but I recall it being less than 5%.

 

If anyone has had experience or could enlighten me, it would be much appreciated.

 

Cheers

DM

 

 

Google Bangkok Bank home loan rates. Not difficult to google stuff like this.

Edited August 9, 2023 by bignok

[freeworld]

Which bank? The bank websites would explain all.

 

Here is a link to Kasikorn

 

https://www.kasikornbank.com/en/personal/Loan/Home-Loan/Pages/Home.aspx

Edited August 9, 2023 by freeworld

[Celsius]

Your wife is correct. I don't understand why white man comes to this forum and does not believe their own wife who by my own experience have a pretty good knowledge about how their country works.

 

 

And if by some chance you fall for those introductory interest rates, be aware that those rates are also calculated different than your home country... this is the part that will leave you even more confused. Lets say your promo rate is 2.5%, yet it will still be calculated at 7%. Your payments will be lower, but payments towards principal will be counted at 7%.

 

Confusing, eh?

 

And who is taking the loan? The loan term will be adjusted to borrower's age which I think is 60 years max. So, your monthly payments may vary depending on this factor,