/Featured Quiz4 October - Weekly Featured Quiz - General Knowledge

[Dingojoe]

Has anyone got some money?

Haha just joking,

But wondering if anyone has taken a loan from a bank or other institution in Thailand.

Can expats get loans if you have a non resident visa?

but also have some land that you dont realy own in the first place.

Or do you have to be a resident?

Or only Thai people can get.

anyone know?

[sbk]

Dingojoe, I am moving this to the banking forum as the banking people tend to post there, not in the Samui forum

///MOVED///

[Tomkagai]

Got a 90% home loan 4 years ago from SCB....just needed to produce WP, 1 years payslips and a letter from the company I work for.... considering TIT it was a painless process....the loan was in the Mrs name (doesn't work) and I co-signed...took a couple of weeks to sort out but went a lot easier than expected...

Put a mate on to the same bank about 6 months later and he was turned down something to do with the bank laws changing and they couldn,t help him out...

From what I understand these days (and stand to be corrected) is that in principle you can get a loan but you need to have the collateral in the bank equal to the amount you want to borrow...ie if you want to borrow say THB 1 million you need to have THB 1 million in the bank with them.....kinda defeats the purpose of taking a loan

[PoorSucker]

When I got my credit card from SCB, I had to deposit double amount of credit limit.

[Cuban]

With WP or through your business yes, best to start with a small one and pay it off - they should show you are worthy of some serious money. I am aware of a local farang that had 150 million Baht from a bank for a building project, but that took time to build up the trust of the bank. No hopers will get turned down flat. But you have to start somewhere and not give up at the first refusal.

[Tomkagai]

With WP or through your business yes, best to start with a small one and pay it off - they should show you are worthy of some serious money. I am aware of a local farang that had 150 million Baht from a bank for a building project, but that took time to build up the trust of the bank. No hopers will get turned down flat. But you have to start somewhere and not give up at the first refusal.

Strangely enough at the time I banked with Bank of Asia for a couple of years and seemed the logical place to apply for the home loan....when I started talking to them...first thing they said...In Thailand, law say cannot give farang money for house...

On the advice of the developer talked to SCB.... yes we can give you a home loan...we need these documents..ie WP, payslips, copy of passport etc etc and the bank manager sat down with me and translated all the documentation for me...so I knew what I was signing...

Guess where all my banking is done these days ?...SCB and never had a minutes problem with them....excellent service.....

[bendix]

SCB is Standard Chartered Bank or Siam City Bank?

[donna]

i refer to SCB as Siam Commercial Bank (the purple bank).

[Crossy]

We got a 10 year mortgage through Thai Military Bank but that was based on our business activities and secured against the restaurant car park.

They wouldn't loan against un-developed land but it seems that putting down some gravel and building a nicer loo (with real flushers) for the customers made the land 'developed' and therefore OK for a loan. TiT

[stumonster]

i refer to SCB as Siam Commercial Bank (the purple bank).

Thai Panit