TMBThanachart, or TTB, is moving forward to become a leader in home loans by revolutionizing the industry with the launch of the “TTB Home Cash Card,” the first cash withdrawal card for home loans in Thailand. This card offers readily available funds for emergencies with low interest rates, ensuring smooth financial management.

Mr. Thakorn Piyapan, CEO of TMBThanachart or TTB stated that TMBThanachart aims to create a better financial life for customers today and in the future by supporting them in building a solid financial foundation in all aspects, particularly in “loan literacy.” The bank encourages customers to learn and plan their borrowing appropriately, promoting the creation of good debt that aligns with their long-term repayment capabilities, leading to effective debt management. Home loans, in particular, are a key focus for the bank as they enhance customers' quality of life.

Recently, the bank launched an innovative home loan product, the “TTB Home Cash Card,” which is the first of its kind in Thailand. This product provides options for customers with debt-free homes to convert their property into cash for managing essential expenses. Customers can choose to receive a lump sum transferred to their account or keep it as a readily available credit limit on the “TTB Home Cash Card”, which can be accessed at any time.

Mr. Thakorn mentioned that the “TTB Home Cash Card” was developed with a deep understanding of customer needs. It can be used alongside home equity loans, which typically transfer a lump sum to customers for managing various expenses, such as home repairs or business investments. Additionally, if customers wish to reserve some credit for future emergencies, they can keep it on the “TTB Home Cash Card” without incurring interest. If they do withdraw, the interest rate is lower than that of standard cash withdrawal cards, at just 0.57% per month. For example, withdrawing 100,000 baht would incur approximately 19 baht in interest per day. Importantly, customers can repay at any time, and the credit limit will be restored immediately. If they wish to withdraw again after repayment, they can do so. For customers still paying off their homes, they can refinance their home loans with TTB and request additional credit for the “TTB Home Cash Card” as well.

Four Key Features of “TTB Home Cash Card”

  • Peace of Mind.. Ready for Emergencies - Withdraw cash instantly at ATMs without fees, or transfer funds from the card to your account via the ttb touch app, available 24/7.
  • Comfort.. No Interest When Not Used - Interest is charged daily based on actual usage, with a lower rate than standard cash withdrawal cards at just 0.57% per month (calculated from MRR + 0.5% = 6.78% per year, with current MRR at 6.28% per year effective from June 17, 2021).
  • Ease of Mind.. Minimum Repayment of Only1% - Provides flexibility in managing finances, with a minimum repayment of just 1%, or customers can make additional repayments, and the credit limit will be restored immediately.
  • Satisfaction.. Monthly Installment Payments for Products - Offers installment payment services for products and services (ttb pay plan) at participating stores, with interest starting at 0% and repayment terms of up to 60 months.

Special Offer.. For the first 1,000 customers who apply for the “TTB Home Cash Card” and use a credit limit of at least 10,000 baht between September 1 and December 31, 2022, will receive a free 1,000 baht HomePro discount coupon (conditions apply as specified by the bank).

The bank aims to issue approximately 5,000 “TTB Home Cash Cards” this year, representing a credit limit of around 2 billion baht. Combined with various growth strategies, the bank targets new housing loans of over 66 billion baht in 2022, a 32% increase from last year.

“TMBThanachart is committed to continuous development to create innovative products and services in home loans that meet customer needs precisely, helping customers achieve a sustainable financial life today and in the future,” Mr. Thakorn concluded.

 

 

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