Personal Credit In Thailand For Foreigner

[Amir]

I am currently in Thailand since 1 and 1/5 years, with a good contract (Thai Union) but local one. I was wondering if i could get a personal loan/credit in my bank bangkok bank of a small amount of 300 000 Bath.

As i am Foreigner, the only credit i can apply to is the one for the house purchase which i am not interested in.

So i called my Bank in France and asked them if i could make a credit there. They told me (corresponding to my financial situation) that it would be no problem except that my salary is domiciliated in Thailand and not in my bank in france. To get credit in my Bank in France i would have to transfert all my salary there and not only a part, which will cost overseas transfert fees and as i live in Thailand, i don't want to send back all my salary in France and then again back to Thailand. I can understand that if you have a local contract with an account in a local bank your bank in your home country worries about the monthly repayments as you don't have a statement there. Otherwise many people could obtain a credit and reimbourse only 2 months and disapear (not everybody is like this of course).

So I was wondering if there are some companies in Bangkok who could help foreigner to get a personal credit of a small amount (300 000 Bath)?

[bino]

So I was wondering if there are some companies in Bangkok who could help foreigner to get a personal credit of a small amount (300 000 Bath)?

The Foreign Credit Manager for all Bangkok Banks is a lady by the name of Helen Waite.

So- if you are a foreigner in Thailand wanting credit, go to Helen Waite.

[Heng]

lolz

[bendix]

Not sure you've got your facts right there . . . i dont think you can get house finance as easily as you suggest.

Am interested in this Helen Waite person. Does anyone have any contact details for her?

OOOOPs . added later: Hook Line and Sinker. Hahahaha.

Edited June 30, 2006 by bendix

[Amir]

Apparently, you can apply only for the home loan at the Bangkok bank in Singapour. they take care about homeloans for foreigner.

you have to provide the buying contract or construction contract and up to the amount you will need 30 to 10% of it on your acount before applying for the home loan.

[bendix]

yes, but it's not really getting a mortgage in thailand, is it? Because the Singapore branch of Bkk Bank is not accredited as a Thai Bank . it's registered in Singapore.

So it's effectively the same as getting a mortgage from any overseas bank - ie, the money has to come in from overseas.

[gottliebs-expat]

If I may tack on another question to this post....

If amir were to send his salary over to france would thailand withhold some of it for tax?

Also would france do the same and withhold some when sent back again?

[gottliebs-expat]

Sorry guys problem with my post there,

What it was meant to read is that other questions are added to the mix if you were to send your salary over to france amir.

And I can tell you you would face withholding tax issues, so not just the hassle of it, but the withholding tax costs certainly make such a transaction unbenefecial for such a small loan.

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[Amir]

If I may tack on another question to this post....

If amir were to send his salary over to france would thailand withhold some of it for tax?

Also would france do the same and withhold some when sent back again?

Yeah sure that's what they told me. An overseas transfert costs from Thailand to Europe 400 Bath per transaction (cheap). then they will take my monthly debt and i will have to resend it back to my account in Thailand. And from France the transfer fees are proportional to the amount!!! Added to this, i will have to pay taxes in France due to the credit.

So the interest would raise from 7.5 % to maybe 11%...

Maybe the best would be just to save money 6 or 7 month more and post pond my projects... ######..Lol.

To answer to Bendix: to get a home loan you apply to your Bangkok Bank branch and they will send the application to Singapour branch. They make the decision for all foreign home loans. I know it seams a little bit strange that they can not do it here in Thailand. 2 years ago you could apply also at Hong Kong branch to get the home loan for Thailand, but they don't do it any more...