Bangkok--28 Jul--KASIKORNBANK
KASIKORNBANK has introduced the "House Purchase with Super Value for Money" campaign, under which the Bank aims to extend 7 billion Baht of new loans. Under this program, customers who apply for K-Home Loan and buy home loan insurance from August 1 to November 30, 2016, will be offered an interest-free installment plan for three months, and credit limit of up to 100 percent of home value.
According to Mr. Boonchan Kulvatunyou, KASIKORNBANK First Senior Vice President, KBank launched the "House Purchase with Super Value for Money" campaign to increase customer access to housing loans. Participating in this program, K-Home Loan customers will enjoy a credit limit of up to 90 percent of home value and additional loan for home decoration, for a combined maximum of 100 percent of assessed home value. Two special interest packages are provided:
The first package features zero interest from the first to third month, a fixed rate of 3.50 percent from the fourth to 12th month, and MRR-1.80 percent from 13th to 36th month, while the second packageoffers a fixed rate of 4.75 percent from the first to 36th month. The interest rate of MRR-1.25 percent would be applied for both packages after the 36th month until the end of the loan term. Currently, KBank's MRR is at 7.62 percent.
To join this program, customers must apply for K-Home Loan, and register their mortgage with the Bank from August 1 to November 30, 2016. To mitigate the risk of unexpected incidents affecting their debt repayment capacity, customers must buy home loan insurance with minimum coverage of 70 percent of the loan amount for the entire loan term, or coverage of 100 percent of the loan for at least 70 percent of the loan term.
The Bank expects to extend at least 7 billion Baht in new loans under this campaign. Application can be made at any KBank branch nationwide, from August 1 to November 30, 2016.
Over the first five months of 2016, the Bank granted 16.8 billion Baht under K-Home Loan products, and projects that figure will reach 49 billion Baht within the end of this year, or an increase of 6 to 8 percent over-year.