Bank loans in Thailand

For a car loan i needed to get someone to sign as guarantor.  I was told that if I could pay 50% cash upfront then I would not need a guarantor.  Also a work permit was needed. 
For housing loans, UOB and MBK Finance seem to be helping a lot of foreigners.

Like most things in Thailand, trying to obtain a bank loan from my experience is a complete joke! I needed a very short term loan (50,000 baht) a few years ago and i went to my kasikornbank who i have been with for years and have daily business transactions with as i owned a thai company at the time....it was like banging your head against a brick wall 100 times..they kept telling me to deposit 50,000 in my account and they will loan me the 50,000...i tried explaining on several occasions that if i had the 50,000 in the 1st place i would'nt need to borrow it!! after a ridiculous 30 minute conversation i walked out shaking my head in dis-belief, i don't know whether they just assumed i was a multi millionaire like all other thai's do as i'm a white male, or this is standard practice? Either way, after 5 plus years, i happily left for the philipines 2 months ago where everything (except the food) is much better/cheaper/easier/more fun/etc.. than Thailand

iscoisco Today 02:50:24
Like most things in Thailand, trying to obtain a bank loan from my experience is a complete joke! I needed a very short term loan (50,000 baht) a few years ago

Most banks in the world, not just Thai banks, will not make an unsecured loan to a foreigner. It doesn't matter how long you've done business with the bank, if you don't have collateral to pledge and a documented steady income to be able to pay the loan back, then most banks will not grant a loan. Thailand has everything I need and the Thai people are very kind, respectful and friendly to me. I love it here. I am retired with a very nice pension and happily married to a beautiful Thai lady... Life doesn't get much better than this... 

dizzzzzzy wrote:

For a car loan i needed to get someone to sign as guarantor.  I was told that if I could pay 50% cash upfront then I would not need a guarantor.  Also a work permit was needed. 
For housing loans, UOB and MBK Finance seem to be helping a lot of foreigners.

I also had to make a 50% down payment for my car. I didn't need a (Thai)  guarantor because I could show enough income. We now finance  the cars in the name of my Thai wife, which is far more easier.

totally agree. there are no banks in the world that would grant a loan with no collateral.  unless the bank manager is your brother in law

work permit

even getting a credit card you normally need to put cash in an account to cover the amount

mortgage very difficult

loan of money shark only 10% per month

private loan by law is 15% per year

Same thing here......had to pay 50% cash for the car and finance the rest under my wife name, because the paperwork needed to put under my name is never ending.

The Thai think all Farangs are millionnaires, so therefore when one ask for a loan, wow,   it s a shock for them.

???? Did you get a loan in the Philippines without collateral? I fail to understand the relevance of the Philippines being better/bank loans?? Perhaps you can clarify?

My girlfriend got a bank loan from UOB for the total amount of our new house 11 years ago, and I was guarantor. No deposit. I've had 4 credit cards with different banks Bangkok Bank, SCB, K-Bank and Citibank with no problems at all. With K-Bank I didn't even go to the bank, nor have any significant balance (nor a work permit at the time) but was still given a Platinum Card. I assume that as I have been here for 25 years I have a good credit rating so even foreigners can get a fair go here.

https://www.kasikornbank.com/en/credit-card

shows what is required to get a credit card

maybe you are one of the "elite"?

but for most it is not possible

Everyone I know has a credit card. Just get a Thai to do it for you.

Get a Thai to do it for you.