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Published on January 4, 2008

After the first three months, customers can choose between six different interest packages, Chatchai Payuhanaveechai, senior vice president of consumer segment management, said yesterday.

For the remainder of the payment period, customers can choose between fixed and floating interest rates.

The first three packages offer fixed rates of 3.99 per cent, 5.75 percent and 6.5 per cent. For the fourth to sixth packages, borrowers pay floating rates of minimum lending rate (MLR) minus 2.5 per cent, MLR minus 1 per cent and MLR minus 0.65 per cent. These two sets of three-step loans apply to periods of four to 12, four to 24 and four to 36 months, respectively. Currently, the bank's MLR is at 6.85 per cent with a maximum 30-year financing period. For property costing no more than Bt10 million, borrowers can take out up to 80 per cent of the asset value and no more than 80 per cent of the appraised price of collateral.

Chatchai said with interest rates in decline, the bank planned to increase its loan volume 16-17 per cent from Bt90 billion last year.

In terms of marketing, the bank will realise growth by partnering with various property projects, particularly in upcountry and tourist areas.

In the meantime, it will also try to improve its customer relations by cutting down on the approval period through its K Now service and K Home Smiles Club, a forum for home-owners to share maintenance and decoration experiences.

 The Nation