Bangkok--8 May--KASIKORNBANK
KASIKORNBANK launched the “K-Home Loan: Extending installment period to 50 years… the longest available” campaign with special zero-percent interest rate for six months. The promotion is aimed at allowing faster homeownership and lower installment burden for customers. Applying from today until September 30, 2012, customers will be given a chance to win a BMW 5 Series or a New iPad with a combined value of total prizes of more than 5 million Baht. The bank targets to see 20 billion Baht of new loans under this campaign.
Mr. Chatchai Payuhanaveechai, Executive Vice President of KASIKORNBANK, said the “K-Home Loan: Extending installment period to 50 years… the longest available” campaign offers the longest installment period available in history of 50 years, plus special zero-percent interest rate for the first six months. Afterwards, six types of interest payment are provided for customers’ choice. K-Home Loan customers will have lower monthly installment, easing their financial burden amid currently higher costs of living. The Bank aims to see 20 billion Baht of new loans under this campaign.
Interested customers can apply for the loan from May 9 to September 30, 2012 and register mortgage within October 15, 2012. They will also be given a chance to win a BMW 5 Series worth 3.88 million Baht (1 prize) and a New iPad (49 prizes), with a combined value of more than 5 million Baht.
The maximum term under K-Home Loan product can be extended from 30 years to 50 years, or maximum age of borrowers from 60 years to 80 years. The borrowers’ age shall also be taken into consideration. For example, customers with 30 years of age will be given a 50 years of loan term or until they turn 80 years. Customers with 45 years of age will be given a maximum 35 years of loan term or until they turn 80 years.
Mr. Chatchai added that the extending installment period to 50 years will not only reduce customers’ monthly installment burden, but also allow them to own a house easier. For example, applying a home loan to buy a 1-million-Baht house with 30 years of loan term, borrowers must wait until they earn 18,000 Baht of monthly salary. But with 50 years of loan terms, they can start borrowing with a monthly salary of only 16,000 Baht.
Moreover, more benefits will be consequently gained by customers including higher credit limit which allow them to buy a preferred house with affordable price as the Bank will use the monthly installment to borrower income to calculate the limit of K-Home Loan. This will also reduce loan rejection for those facing income constraints.
KBank expects the “K-Home Loan: Extending installment period to 50 years… the longest available” campaign will be popular among new homebuyers. Interested persons can apply for the loan at any KBank branches nationwide. For those living in Bangkok and nearby areas can use K-Home Loan Delivery service by calling 02 888 8888 press 517.