Highlights

  • Foreigner friendly, No work permit or permanent residence required
  • Faster, disbursement within few business days
  • Repay up to 50% of principal at maturity (or balloon payment available for up to 50%)
  • Very high rate of approval

Terms & Conditions

  • Principal

    Up to 50% of valuation, minimum THB 1 million

  • Collateral

    Condominium in Bangkok and its peripheral, key resort provinces

  • Currency

    Thai Baht

  • Term

    Minimum 1 year up to 10 years; a maximum age of 70*

  • Repayment

    Monthly installment** required with option for balloon payment up to 50% of loan at maturity

Remarks :

*
Borrower’s age at the end of contract
**
More details in below table

Table of monthly installment

Based on THB 1 million loan (Subject to interest change)

Loan Period % Balloon payment at the end
50% 40% 30% 20% 10% 0%
10 yr 10,600 11,100 11,600 12,100 12,600 13,100
7 yr 12,300 13,100 14,000 14,800 15,600 16,500
5 yr 14,600 15,900 17,200 18,500 19,800 21,100
3 yr 20,100 22,500 24,900 27,300 29,700 32,200
2 yr 27,100 30,900 34,700 38,400 42,200 46,000
1 yr 47,900 55,900 63,900 71,900 79,800 87,800

Interest & Fees

  • Interest Rate

    MLR+2.4% per annum* (refer to KBANK’s MLR**)

  • Upfront

    1.25% of loan size***

Other expenses

  • Mortgage fee

    1% of loan size, payable to Land Dept

  • Inspection Fee

    Up to THB 10,000/visit (as per distance) for travelling expenses

  • Appraisal fee

    Subject to appraiser for setting loan size

  • Travelling Fee

    Up to THB 10,000 depending on distance for mortgage registration at the Land Department

  • Duty stamp

    0.05% of principal (max THB 10,000)

  • Fire Insurance

    Subject to collateral value

  • Life Insurance

    Subject to loan size, max THB 10 million sum insured

  • Other Conditions

    Commitment Fee 2% of non loan disbursement (one time upon loan drawdown)

    Prepayment Fee 2% of prepaid loan within the first 3 years. No fee after 3 years.

*
For non-life insurance (MRTA), the rate will be increased by 0.5% p.a.
**
Currently KBANK’s MLR standing at 5.60% as of Apr 10, 2020
***
Varied according to location min THB 30,000 per contract

Remarks :

The conditions above apply to loans on condos used for residential purposes by the borrower and not more than 1 unit. For other cases, rates and fees may change.

Required Documents

Individual

  • ID/passport * (valid at least 6 months)
  • Marriage/divorce certificate ** (If any)
  • Spouse consent to borrow/mortgage property ***
  • Bank statements for 6 latest months
  • Credit bureau reports from country of residence
  • Others upon request *****

Remarks :

*
Passport with valid visa (when required) and latest immigration entry stamp upon The Kingdom arrival.
Passport used for applying credit must be the same as one used for mortgage registration at Land Dept.
**
Applicant’s spouse may be required as co-borrower in some circumstances.
***
Template is available.
*****
In case of non-permanent residence in Thailand, utility bill (electric, water, telephone) with permanent address abroad must be shown

Corporate

  • Company’s official affidavit (valid for at least 3 months)
  • Shareholder list(form Bor-Or-Jor.5)
  • Authorized director’s ID/passport **** (valid for at least 6 months)
  • Financial statement for last 3 years audited by CPA
  • Tax return form
  • Bank statements for 6 latest months
  • Credit bureau reports from country of residence (1)
  • Others upon request *****

Remarks :

(1)
Credit bureau reports of directors
****
In case of the company has its director as a co-borrower using the company’s asset as collateral, the director to sign all relevant loan agreement shall be another director who is no co-borrower to the loan.
*****
In case of non-permanent residence in Thailand, utility bill (electric, water, telephone) with permanent address abroad must be shown.

Property Documents

  • Condominium title
  • Valuation report by preferred appraiser*
  • Deposit/installment receipts (if any)
  • Others upon request

Remarks :

* Contact details to be provided

Also require :

  • For certified true copy for all copy documents
  • Thai/Eng translations for documents in other languages
  • Color photocopy of passport is required