Bangkok--22 Apr--Thanachart Bank Thanachart Bank, in response to the Government’s property tax incentives, has launched a home loan promotion named Refinance ‘Home 4 You’. Its key selling points include a low interest rate of 2.90% for the first year, after which a floating rate equal to the Minimum Lending Rate (MLR) minus 0.8% will be applied, with a credit line of up to 100% and a repayment period of up to 30 years. Mr. Bundit Cheevadhanarak, Senior Executive Vice President, Thanachart Bank Public Company Limited, says that, following the Government’s property tax incentives aimed at stimulating the economy and helping people who want to buy a house, Thanachart Bank has adopted a policy in response to the tax incentives. In particular, it has launched a home loan promotion named Refinance ‘Home 4 You’ as an alternative for people who are repaying home loans from other financial institutions. Thanachart Bank offers a fixed interest rate of 2.90% for the first year, after which a floating rate equal to the Minimum Lending Rate (MLR) minus 0.8% (currently, 7.0% - 0.8% = 6.20%) will be applied. Borrowers will be provided with a credit line of up to 100% and a repayment period of up to 30 years. The purpose is to help alleviate the burden of the borrowers in terms of a lower monthly installment. Or if the borrowers choose to repay at the level equal to their current monthly installment, their mortgage will be paid off more quickly. Moreover, the borrowers will be provided with an additional credit line to pay for other expenses. The interest rate of 2.90% for the first year which is offered by Thanachart Bank’s Refinance ‘Home 4 You’ is considered very low when compared with those offered by other financial institutions for the same type of loan with the same repayment period. Importantly, the average interest rate of 5.10% for the first three years and the average interest rate of 5.87% for the first ten years are also considered very low when compared with those offered by other financial institutions for the same type of loan with the same repayment period. Moreover, Mr. Bundit says that, after Scotiabank becomes its equity partner, Thanachart Bank has adopted a more aggressive business expansion policy, particularly in the area of retail business including deposits and consumer loans. The home loan promotion named Refinance ‘Home 4 You’ is one of the first campaigns being launched by Thanachart Bank.