I recently accompanied someone to shop for a mortgage. The person had a few brochures touting rates for each major bank. Bank of Ayudaya (Krungsri, the yellow bank) had a very attractive fixed rate of 4.75%. All others were @6% +/-. So we had a sit down with the loan officer who came up with repayment numbers which made NO sense.

I referenced two online mortgage calculators to prove his numbers were wrong. He danced the jig but could not reconcile the (significant) differences. Flustered, he stuck to his guns that his proven wrong numbers were correct and so we left.

Check for yourself:

https://www.krungsri.com/bank/en/Other/Calculator/HomeCalculator/RepaymentAmountCalculator.aspx

The note at the bottom even ADMITS the numbers are wrong. It states it is off by 1%, but it is actually off by 2% (!!!). The loan officers use the same WRONG numbers when writing the loan. Hence they appear to be pulling a bait and switch with their rates! BEWARE!!!

http://www.bangkokbank.com/BangkokBank/WebServices/Calculators/Pages/Loan%20Calculator.aspx

https://www.citibank.co.th/en/banking/mortgage/mortgage.htm?lid=THENCBGLOMITLMortgage

Why not bring this to the attention of the Big Boss.....Bait and switch seems to be rampant in this country. Thais , sadly tend to believe everything they are told. I would bet very few of them read the fine print on anything they sign.

You should complain to the parent Japanese bank.

I got a 1.6% increase from the calculator, as opposed to your 2%, but yeah........that's still shocking.

I spoke to a few Thai friends over the years who have no idea about loans they have, the initial payday and the manageable monthly installments are all that matters when signing the dotted line. I don't know how the banks get away with it.