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Thai Laws






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Kasikorn Bank (info)

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Kasikorn Bank

The following information was obtained from Kasikorn Bank in Nakhon Ratchasima, in 2008. It will just guide you to what they can do or not, but rules might have changes and it also might be different from province to province.

1. Documents needed to open a bank account at Kasikorn

- personal banking
- passport
- Don't have to work in Thailand

- business banking
- All most the same as UOB bank
- All documents from shareholders

2. Credit Cards

- All most the same document as UOB bank
- Confirmation of salary

VISA Credit Card


Age between 20-80 years for the primary card applicant, and 15-80 years for the supplementary card applicant
Monthly income:

o THB15,000 or more for classic card
o THB30,000 or more for gold card
o THB100,000 or more for platinum card
Types of Cards/Credit Limits

Classic card : THB30,000 - THB49,999
Gold card : THB50,000 - THB1,500,000
Platinum card : THB200,000 - THB3,000,000

Key Features

Chip-embedded cards that provide cardholders with enhanced security against credit card fraud up to international standards, and with scores of privileges at participating merchants

Maximum credit limits for the first approval up to three times the applicant's income
Able to have up to five supplementary cards
Maximum interest-free grace period is 45 days* (depending on the statement date) if full payment of the outstanding amount is made with in the due date.

Partial payment of at least 10 percent (and not less than THB1,000) of the amount shown on the credit card statement
Able to be used at any merchant that displays the sign acknowledging acceptance of K-Credit Card throughout the country, or the VISA logo worldwide

Cash advances up to your full available credit limit via KBank's ATM machines and ATMs with the "ATM Pool" sign across the country, as well as ATMs with the "Plus" sign, denoting them as part of the VISA ATM network worldwide, or at VISA-affiliated bank counters.
Temporary credit lines available for payment of goods and services in emergencies in excess of your normal credit line (30-day credit period)

Be entitled to travel insurance when using K-Credit Card to pay for legally-licensed transport services. The insurance coverage also covers one's spouse and children aged less than 23 years old. The maximum insured benefit is THB 1 million for classic cardholders, THB 4 million for gold cardholders and THB 20 million for platinum cardholders.
Get scores of privileges, i.e., special discounts and marketing promotional benefits all year round.

Your accumulated points earned under Smart Value Choice program, when using K-Credit Card to purchase goods or make cash advances, can be redeemed for gift vouchers or Royal Orchid Plus (ROP) frequent flyer mileage.
Smart Billing service offered for utility bill payments/monthly expenses via automatic deductions from your K-Credit Card account.
Smart Pay program permitting installment payments on goods/services purchased via K-Credit Card with 0 percent interest rate at scores of leading merchants.

K-mAlert service ? You are advised of purchases on K-Credit Card and outstanding balances via SMS.
Be entitled to a waiver of annual fee if you meet KBank criteria
Convenient payment channels, e.g., K-mPay and K-Cyber Banking
Exclusive Benefits for Platinum Cards*
Round-the-clock Platinum Contact Center 0 2888 8889
Reserved car parking area and a special reception room at leading department stores
VIP Lounge at airports
Concierge service available 24 hours a day
Roadside assistance
Emergency household services
* The Bank reserves the right to change these benefits
Required Documents

Credit card application form and a Letter of Consent to have your credit history checked by a Credit Bureau
Copy of National ID card/government official ID card

If the applicant is a foreign national, a copy of valid passport, visa and work permit are required and applicant must earn an income at least THB50,000 per month

Income Evidence --

For fixed income earners:
- Original/copy of a letter certifying monthly salary issued by employer not longer than six months
For business proprietors:
- Copy of Certificate of Commercial Registration for company/limited partnership issued not over one year by the Ministry of Commerce
- Copy of deposit passbook of current/savings account passbook/statement showing entries over the past six months
- In case of a personal account, copy of your deposit passbook with the page showing the account number and account name
- In case of a corporate account, copy of the deposit passbook with the page showing the account number and corporate account name, together with a copy of Shareholders' list certified within the past six months.

For Foreign Applicants

Minimum monthly income of THB50,000
Copies of valid passport and visa
Copy of valid work permit
Income evidence

3. Loans, sounds difficult to do at Kasikorn for foreigners. But they offer Housing Loans for Thai people.

Key Features

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

Up to 30 years


1. Thai Nationality

2. At least 21 years old

  • For fixed income earners, their age when added to the duration of the loan must not exceed 60 years old.
  • For self-employed persons, their age plus the duration of the loan must not exceed 65 years old.

3. Years of work

  • 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.
  • For self-employed persons, they must have been in business for at least two years.

4. The primary borrower must earn THB10,000 or higher per month.

  • If your income is more than THB50,000 per month, the monthly installment payment must not exceed 50 percent of your monthly income.
  • If your income is less than THB50,000 per month, the monthly installment payment must not exceed 40 percent of your monthly income.

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:

  • Maximum term, not exceeding 25 years if the unit purchase price is less than THB1 million.
  • 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:

  • To buy a vacant plot of land only in housing projects that the Bank supports.
  • 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:

  • The loan shall not exceed 70 percent of the land's appraised value and not exceed a maximum of THB5 million.
  • The area shall not exceed 3 rai.
  • The maximum installment payment term shall not exceed 10 years.

  • To buy land from recovered debt settlements of KBank.
  • To buy land from auctions of the Legal Execution Department (mortgaged assets with KBank).
  • 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:

  • The loan shall not exceed 90 percent of trading price and not exceed 85 percent of the land's appraised value.
  • The maximum amount of the loan must not exceed THB10 million, but is unlimited in area of land to be purchased.
  • The maximum installment payment term shall not exceed 10 years

If the trading price of the collateral is more than THB10 million, the allowed loan shall not exceed 80 percent of appraised value, but not exceeding 70 percent of the selling price that is actually agreed upon.

Six special interest rates (for loans of not more than THB10 million)

A 1.99 % fixed rate for the first 3 months, and then you can choose one of the following 6 rates:

1. From the 4th to the 12th month, the interest charge is 3.99 percent.

2. From the 4th to the 24th month, the interest charge is 5.75 percent.

3. From the 4th to the 36th month, the interest charge is 6.50 percent.

4. From the 4th to the 12th month, the Bank charges MLR of ?2.50 percent.

5. From the 4th to the 24th month, the Bank charges MLR of ?1.00 percent.

6. From the 4th to the 36th month, the Bank charges MLR of ?0.65 percent.

After the above period, the Bank will charge a floating rate of MLR for general customers and MLR for refinancing of a commercial building.


For loans that exceed THB10 million, the Bank charges the MLR rate -0.25 percent for general customers, and MLR for commercial building from the start date of the contract.
Customers can apply for these loan packages from January 2 ? March 31, 2008.

Fees and expenses

1. The Bank charges a front-end fee at 0.25 % of the loan, with the minimum fee rate of THB2,500.

2. The fee for collateral appraisal conducted by Progress Appraisal Co., Ltd. or another appraisal company certified by KBank, or by a KBank branch is THB2,140.

Loan Turnaround Time

Around 7 business days

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