I work abroad and would like to apply for a loan in Thailand. What are the procedures?

I work abroad and would like to apply for a loan in Thailand. What are the procedures?

DDCapital, a loan for Thai people in

Abroad, working abroad, want to apply for a loan in Thailand, what are the steps? If you are abroad and want to apply for a loan in Thailand, let's see.

How to apply for a loan in Thailand For those working abroad and wanting to apply for a loan in Thailand, there are 3 steps as follows

1. The bank looks at income documents such as payroll slips or checks from work, salary accounts, tax forms from abroad, etc. (using foreign documents) to calculate the borrower's income and debt repayment ability to calculate the loan amount that can be borrowed.

2. Qualifications and loan objectives match the bank's criteria, such as being 21-65 years old, the loan objective is to purchase any type of residence or a multi-purpose home loan, or vacant land for cash (with collateral for residence or vacant land in Thailand belonging to oneself or one's family as collateral for the bank). Because currently, there are only 3 banks in Thailand that allow Thais working abroad to apply for loans, which differ in both the details of the loan policy and the credit limit for purchasing a residence in Thailand, such as the purple camp banks providing a 50% credit limit, the orange camp of state enterprises providing a 70% credit limit, and the blue camp (with branches abroad) providing a credit limit of 85-100% (maximum).

3. Have a history of loan repayments in Thailand  (the original loan repayment history in the credit bureau). Currently, each bank has adjusted its loan policy by using the Credit Score Bureau as a criterion for deciding to approve loans in addition to income documents. The Credit Score is derived from the borrower's past credit bureau history in Thailand. Therefore, this qualification is a problem for Thais working abroad. Most of them have no credit history in Thailand or have a credit history in Thailand that has not been active for more than 3 years, resulting in not being approved for loans even though they have a good income and qualifications, including the purpose of the loan request that meets all criteria. For those who do not have a credit history in Thailand, you can do this by creating a payment history in Thailand, which takes 1 month.

 

You can consult about loans every day, Monday-Sunday, 8:30-20:00, Thai time.