Update on 10 Home Loans Mid-Year 2018 by TerraBKK Research has compiled information on home loans from 10 leading banks in Thailand, including loan amounts, repayment periods, required documents for loan applications, initial costs and fees, as well as the latest interest rates officially disclosed by each bank. The details are as follows:


Bangkok Bank: BBL Home Loan

Loan Amount: The maximum loan amount is approximately 80% of the appraised value or equal to the remaining debt in the case of refinancing.

Repayment Period: Applicants must be at least 20 years old and can choose a repayment period of up to 30 years (35 years for permanent employees). The total age of the applicant plus the repayment period must not exceed 65 years.

Required Documents:
• Identification documents such as a copy of the ID card, house registration, marriage certificate, etc.
• Income verification documents such as original salary certificates (not older than 3 months), the latest salary slip, and copies of bank statements showing salary deposits, annual income tax return (if receiving cash salary), etc.
• Collateral documents for the loan application such as copies of land title deeds, condominium ownership documents, copies of sale agreements, proof of down payment, and maps showing the location of the collateral.

Costs: Appraisal fees, stamp duty, transfer fees of 2% of the appraised value, mortgage registration fees of 1% of the mortgage amount, insurance premiums, etc.

Interest Rate for Home Loans:  

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Kasikorn Bank: K-Home Loan

Loan Amount: The maximum loan amount is not exceeding 90% of the purchase price and not exceeding 90% of the appraised value. For purchase prices starting from 10 million baht, the loan can be up to 80% of the purchase price. Additional loans for home renovation can be up to 10% of the purchase price, and the total loan amount must not exceed 100% of the appraised value.

Repayment Period: Up to 30 years, and the total age of the borrower plus the repayment period must not exceed 70 years.

Required Documents:
     • General documents: Copy of ID card or civil servant/state enterprise ID, copies of house registration (all pages), name change documents, etc.
     • Financial documents: Regular income earners must provide salary slips (not older than 3 months), pensioners must show pension payment slips or payment order documents, or bank statements for at least 3 months, self-employed individuals must provide bank statements for at least 6 months or 50 TWI showing income for the past 6 months, business owners or those referencing income from business must provide bank statements for at least 6 months in personal or business name, etc.
   • Collateral documents: Copies of land title deeds, NS3, NS3K, or ownership documents along with all pages of the registration index, copies of sale agreements (TDA.13).

Costs: Appraisal fees by Progress Appraisal Company or a bank-approved appraisal company, estimated at 3,000 baht (including VAT), etc.

Interest Rate for Home Loans:

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SCB: New Home Purchase Loan

Loan Amount: Up to 100% of the appraised value of the collateral.

Repayment Period: Up to 30 years, and the total repayment period plus the borrower's age must not exceed 65 years.

Required Documents:
    • Identification documents such as a copy of the ID card, passport, or civil servant ID, employee ID from state enterprises, copies of house registration, marriage certificate (if applicable), name change documents (if applicable), etc.
    • Collateral documents: Copies of sale agreements.
    • Income verification documents: Regular income earners (salary certificates and salary slips, bank statements for the past 6 months), self-employed individuals (bank statements for the past 6 months (personal account, business account), photos of the business, and a brief map of the business location, copies of business registration, corporate registration certificates with a list of shareholders, proof of tax returns for the past year (P.N.D.), income and expense records, receipts for purchases and sales).

Costs: Except for loan service fees, appraisal and collateral valuation fees, in the case of projects supported by the bank, 535 baht; for general collateral/condos over 60 sqm/standalone houses, 5,000 baht; and for condos not exceeding 60 sqm/townhouses/semi-detached houses, 3,500 baht; stamp duty of 0.05% of the loan amount, not exceeding 10,000 baht; mortgage registration fees of 1% of the loan amount, etc.

Interest Rate for Home Loans:

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Krungsri Bank: Krungsri Home Loan for Residential Purchase

Loan Amount: Up to 90% of the appraised value.

Repayment Period: Up to 30 years (the repayment period combined with the borrower's age must not exceed 65 years).

Required Documents:
   • Personal information documents such as a copy of the ID card or civil servant ID, copies of house registration, copies of the ID card and house registration of the spouse (if applicable), copies of marriage/divorce certificates or name change documents (if applicable), copies of death certificates and marriage certificates of the spouse (in case of the spouse's death).
   • Income verification documents: Regular income (salary slips or original employment certificates, copies of bank statements for the past 6 months, copies of withholding tax certificates (50 TWI)); self-employed individuals (copies of registration certificates, copies of bank statements for the past 6 months, copies of P.N.D.30 (if applicable)).
   • Collateral documents: Copies of ownership documents for collateral such as land title deeds or condominium ownership documents (full-size copies), building permits, documents showing ownership of structures such as copies of land sale agreements (TDA.13) or land lease agreements (TDA.14), copies of sale agreements, and proof of down payment (if applicable), brief maps showing the location of the collateral.

Costs:

Interest Rate for Home Loans:

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Government Housing Bank: For Home Loan

Loan Amount: Up to 100% of the appraised value.

Repayment Period: Must be at least 20 years old, and the total age of the borrower plus the repayment period must not exceed 65 years.

Required Documents: Copies of the borrower's ID card and spouse's ID card, copies of marriage certificates or divorce certificates, or copies of the spouse's death certificate, copies of house registration for the borrower and spouse, etc.

Costs: Inquire at the bank.

Interest Rate for Home Loans:

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TMB Bank: TMB Home Loan

Loan Amount: Minimum loan amount of 500,000 baht, maximum not exceeding 20,000,000 baht. For amounts not exceeding 10 million baht (maximum loan amount not exceeding 100% of the purchase price or appraised value, whichever is lower, for purchases from real estate development companies specified by the bank, and maximum loan amount not exceeding 95% of the purchase price or appraised value, whichever is lower, for purchases from general projects).

Repayment Period: Up to 35 years, and the total age of the borrower must not exceed 65 years.

Required Documents:
   • Permanent employees must provide a copy of the ID card, salary slip, original and carbon copy (if no salary slip is available, or if using a salary certificate (not older than 2 months), must add a copy of the bank statement for the past month).
   • Civil servants/state enterprise employees/bank employees/securities employees must provide a copy of the ID card (or a copy of the military civil servant ID and house registration), salary slip (if using a salary certificate (not older than 2 months), must add a copy of the bank statement for the past month).
   • Self-employed individuals/business owners must provide a copy of the ID card, copies of bank statements used for business for the past 6 months, copies of business licenses issued by relevant authorities.
   • Collateral documents must include copies of land title deeds (all pages)/NS3K (all pages), copies of reservation documents or copies of sale agreements.

Costs: Inquire at the bank.

Interest Rate for Home Loans:

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Kiatnakin Bank: KK Home Loan

Loan Amount: Maximum approved amount of 105% of the purchase price or appraised value, whichever is lower, up to 50 million baht. For purchase prices ≥ 10 million baht, the maximum loan amount is 80% of the purchase price or appraised value, whichever is lower.

Repayment Period: Up to 30 years.

Required Documents:
   • Identification documents such as copies of ID cards/passports (2 sets), copies of house registration (first page with address and page with the borrower's name (1 set)), name change documents (if applicable), copies of marriage/divorce certificates or death certificates of the spouse (if applicable).
   • Documents for regular income earners such as salary slips/salary certificates (not older than 2 months), bank statements for the past 6 months, etc.
   • Collateral documents such as copies of collateral title deeds, copies of condominium ownership documents, copies of sale agreements, copies of reservation documents, maps showing the location of the collateral, house plans + project layouts (for purchases from development projects), etc.

Costs: Inquire at the bank.

Interest Rate for Home Loans:

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Thanachart Bank: New Home Loan

Loan Amount: Maximum approved amount of 100% of the appraised value or purchase price, whichever is lower.

Repayment Period: Maximum repayment period not exceeding 30 years (for employees, total age not exceeding 65 years; for business owners/self-employed individuals/various professionals, total age not exceeding 70 years).

Required Documents: Inquire at the bank.

Costs: Inquire at the bank.

Interest Rate for Home Loans:

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Land and Houses Bank: Housing Loan

Loan Amount: Up to 100% of the purchase price or appraised value, whichever is lower.

Repayment Period: Maximum loan period of 40 years (including the borrower's age not exceeding 70 years).

Required Documents: Inquire at the bank.

Costs:

Interest Rate for Home Loans:

More Information: Click

Compiled as of July 2018 by TerraBKK.com
Article by: TerraBKK Investment Tips 
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