Karelka Posted March 10, 2012 Share Posted March 10, 2012 Is it possible to get a personal loan for foreigners? I have tried at several banks but they simply say 'can not', without looking at any details. For example, Standard Chartered says: "foreigners are not eligible to apply for a loan'. I would need a short-term personal loan of about 100,000 baht. It's not for property nor a car, which I know is possible to get. I own no property in Thailand, nor am I married. I do however have a contract at an international company in Bangkok and a work permit. I could easily pay back the loan in a few months time. Any advice would be welcome. Many thanks! Link to comment Share on other sites More sharing options...
Asiantravel Posted March 10, 2012 Share Posted March 10, 2012 consider it from the bank's point of view. I cannot see any reason why a bank should be interested in granting a personal unsecured loan to a foreigner? why don't you investigate the possibility of the international company with who you have the contract to help arrange a loan on your behalf? Link to comment Share on other sites More sharing options...
jonclark Posted March 10, 2012 Share Posted March 10, 2012 Try for a credit card. Most will give a balance of double your income (but the limit will depend on other things like time in Thailand, regularity of pay checks. WP etc.) and each company will have its own set of rules etc. So speak to them first. See what their criteria are. Credit cards aren't ideal as the interest is usually higher than a loan especially for cash advances You could try for a personal loan if you can get a Thai to act as a guarantor otherwise see if any good friends are willing to lend you the cash. 1 Link to comment Share on other sites More sharing options...
hgma Posted March 10, 2012 Share Posted March 10, 2012 (edited) possible!!!!! You need a 1.income(you have) 2.(residence certificate or tabien ban-yellow) 3.Thai Individual with registered company or business.(guarantee) my family(all foreigners just got a short-term loan on a car) before that...we financed Honda Mazda done with Krungsri bank good luck Edited March 10, 2012 by hgma Link to comment Share on other sites More sharing options...
Sharp Posted March 10, 2012 Share Posted March 10, 2012 SCB bank gave me a loan and over draft which i still control today although i did have to qualify it pretty strict conditions . Link to comment Share on other sites More sharing options...
Soutpeel Posted March 11, 2012 Share Posted March 11, 2012 2.(residence certificate or tabien ban-yellow) Doesnt need one...the OP has a WP. for the OP....banks dont want to hear that you will pay a loan off quickly....they possibly will loose money, they want you to pay for the full term...maximising their profit Link to comment Share on other sites More sharing options...
Derifo Posted March 12, 2012 Share Posted March 12, 2012 Ask the Thais where you work. I believe they should be able to point you in the right direction. Interest should be between 5 and 10 percent, depending on how well they know you and your negotiation skills. They might ask to hold on to your passport during the duration of the loan. Link to comment Share on other sites More sharing options...
fletchsmile Posted March 12, 2012 Share Posted March 12, 2012 It is possible to obtain a loan. This is simply Standard Chartered's internal policy as they are not really interested in the retail / consumer banking market for foreigners in Thailand, and it doesn't fit their strategy. Try one of the better Thai local banks, and even different branches of the same bank. You'll get various answers from, "cannot" to can't be bothered, but it is possible, and some will do. Credit card would probably be easier to obtain than a personal loan. Not necessarily the cheapest way to borrow though, at around 20% p.a., but given you mentioned that you should easily be able to pay it back in a few months, then it could be the least hassle option. Link to comment Share on other sites More sharing options...
Soutpeel Posted March 12, 2012 Share Posted March 12, 2012 Ask the Thais where you work. I believe they should be able to point you in the right direction. Interest should be between 5 and 10 percent, depending on how well they know you and your negotiation skills. They might ask to hold on to your passport during the duration of the loan. You are talking about approaching a loan shark ?? Link to comment Share on other sites More sharing options...
bendix Posted March 12, 2012 Share Posted March 12, 2012 Ask the Thais where you work. I believe they should be able to point you in the right direction. Interest should be between 5 and 10 percent, depending on how well they know you and your negotiation skills. They might ask to hold on to your passport during the duration of the loan. You are talking about approaching a loan shark ?? If so, I'm happy to lend 100k providing I get 150k back after six months, and I'll hold your passport for the duration. You know it makes sense. . . Link to comment Share on other sites More sharing options...
Ijustwannateach Posted March 12, 2012 Share Posted March 12, 2012 It's quite possible to get legitimate loans and real credit here, but different banks (and even different branches of the same bank) and other financial institutions will have different policies. It would behoove the OP *not* to use any 'less' legimate services, for as I was once told in Japan (and this probably is good advice for all of Asia), 'Its dangerous to borrow money from people you don't know.' Link to comment Share on other sites More sharing options...
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