Housing Loans  (  )

• • Term loans with low interest rates. Various interest packages are available and the installment term can be up to 30 years.
  • Financing for purchases of homes and land, townhouses, commercial buildings, condominium units and vacant lands including home construction and remodeling. Refinancing of loans with the home as collateral is also available.

Term of Loan

Eligibility

1. Thai Nationality   
2. At least 21 years old
o For fixed income earners, their age when added to the duration of the loan must not exceed 60 years old.
o For self-employed persons, their age plus the duration of the loan must not exceed 65 years old.
3. Years of work
o For fixed-income earners, they must have worked at their present workplace for at least two years. If less than two years, they must show the record of work in the last two years.
o For self-employed persons, they must have been in business for at least two years.
4. The primary borrower must earn THB15,000 or higher per month.  ( 10,000 Baht or higher per month for government officer, State Enterprise Officer, Employees)

5. The number of co-borrowers must not exceed two, and all of them must be relatives.

Credit limits and installment periods classified by types of loans

1. Loans granted on up to 80 percent of the sale value of the land and house, townhouse, or its appraised price (whichever is lower). Installment term is up to 30 years.
2. For condominiums priced at more than THB500,000 per unit, loans granted at not exceeding 80 percent of the unit purchase price or appraised value (whichever is lower), under the installment term, as below:
o Maximum term, not exceeding 25 years if the unit purchase price is less than THB1 million.
o Maximum term, not exceeding 30 years if the unit purchase price is THB1 million or more.
3. For commercial buildings, loans granted up to 80 percent of their purchase price and appraised price (whichever is lower). The installment term can be up to 30 years.
4. If you build a home on your own land, mortgage loans are granted at not exceeding 100 percent of home construction cost but not exceeding 80 percent of appraised value of the land and building. The installment term is not longer than 30 years.
5. Loan for remodeling or renovating a house shall not exceed 100 percent of the appraised value for the extended part, and not exceed 80 percent of the appraised value of the land and house. The maximum loan must not exceed THB5 million, and the installment term must not exceed 10 years.
6. The Bank accepts housing loan refinancing of loans from other banks or financial institutions and establishes loan limits and the maximum installment payment period according to the above types of collateral.
7. The loan criteria for buying land must meet with the following objectives:
      7.1 To buy a vacant plot of land only in housing projects that the Bank supports.
      7.2 To buy a vacant plot of land adjacent to an existing residence for the purpose of extending one’s own home, etc.
      Loan criteria for 7.1) and 7.2) are:
             1) The loan shall not exceed 70 percent of the land’s appraised value and not exceed a maximum of THB5 million.
             2) The area shall not exceed 3 rai.
             3) The maximum installment payment term shall not exceed 10 years.
      7.3 To buy land from recovered debt settlements of KBank.
      7.4 To buy land from auctions of the Legal Execution Department (mortgaged assets with KBank).
      7.5 To buy land as foreclosed property held by KBank and or an asset management company established by KBank.
      Loan criteria for 7.3 and 7.5 are:
             1) The loan shall not exceed 90 percent of trading price and not exceed 85 percent of the land’s appraised value.
             2) The maximum amount of the loan must not exceed THB10 million, but is unlimited in area of land to be purchased.
             3) The maximum installment payment term shall not exceed 10 years
8. According to the Bank of Thailand Regulation
• If the trading price of the collateral is more than THB10 million, the allowed loan shall not exceed 80 percent of selling price.
• If the collateral is Condominium, the allowed loan shall not exceed 90 percent of selling price.

Special interest rates

  You can choose one of the following six special rates

 1. From the 1th to the 12th month, the fixed interest charge is 2.00 percent
 2. From the 1th to the 24th month, the fixed interest charge is 4.50 percent
 3. From the 1th to the 36th month, the fixed interest charge is 5.25 percent
 4. From the 1th to the 12th month, the Bank charges a floating rate of  MLR – 5.25 percent
 5. From the 1th to the 24th month, the Bank charges a floating rate of  MLR – 2.75 percent
 6. From the 1th to the 36th month, the Bank charges a floating rate of MLR – 2.00 percent

• For customers who want to buy shop houses ,after the teaser rate period, the bank will charge the floating rate of MLR until the end of the contract         
           
** The interest rate above does not apply to loans for purchasing vacant plots of land.
***KBank also offers interest rates for special customers who have gross income from THB100, 000 per month and for specific occupational customers who are physician, dentist, pharmacist, commercial pilot, judge and attorney. For more information, please contact K- Home Loan Delivery 0 2888 8888 ext. 517
                    

Special conditions

 The borrower will get an additional loan rate reduction of up to 0.50  percent during the first year by following these criteria if

1. The borrower can sign a contract within seven business days from the date specified in a letter giving notice of approval

2. The borrowers can get an additional loan rate reduction of up to 0.25 percent if     
      2.1  they take out “Pitaksin-Home/Senior/Care” with the 100-percent sum of K-Home Loan limit insured,  and selects the protection period that covers the entire loan term. ( 0.25% reduction)
      2.2  they take out “Pitaksin-Home/Senior/Care with other conditions as specified from the above condition no 2.1 (0.12% reduction)

Remark

Customers can apply for these loan packages from April 1st   –  June 30th,  2012

Fees and expenses

Loan Turnaround Time

Loan Application

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