BAM and Bangkok Bank join forces to provide low-interest loans to BAM customers, with the rate of only 1.95% for the first year.

       Bangkok Commercial Asset Management Public Company Limited or BAM and Bangkok Bank join forces to launch the “Bualuang Home Loans for BAM Property Buyers” program to meet the needs of customers looking for good quality second-hand houses at reasonable prices with special-interest loans (the first-year rate starting at only 1.95%) and a minimum installment of 3,000 baht per million baht per month, plus free collateral appraisal.

       Mr. Choopong Phokhasawadi, Deputy Chief Executive Officer of Bangkok and Vicinity Loan Restructuring and Sales Group 1 of Bangkok Commercial Asset Management Public Company Limited or BAM said: “At present, BAM has over 23,000 items of properties for sale (NPAs) covering houses, condominiums, commercial buildings, and vacant land. Therefore, this is a good opportunity to work in cooperation with Bangkok Bank who is to provide Bualuang home loans with special interest rates and reasonable monthly installments to assist customers interested in buying second-hand properties in gaining access to low-interest loans, which has been another important factor that helps customers make a purchasing decision easier.

       “This collaboration between BAM and Bangkok Bank will be beneficial to customers and those who are interested in BAM's second-hand properties, who expect that this market will recover following the economic recovery. The trade and investment sector has returned to its active stage, resulting in interest rates and real estate prices starting to gradually increase as well. Therefore, it is a good opportunity for those who are looking to buy properties for living or investing. BAM offers properties in both as-is and renovated conditions, and many of our projects have a prime location as their highlight, in which first-hand properties are no longer put up for sale. The collaborative program is expected to receive good feedback from those who are interested and contribute to driving BAM's property sales in 2023 to achieve the set goals," further stated Mr. Phokhasawadi.

       Ms. Pochanee Kongkalai, Executive Vice President of Bangkok Bank Public Company Limited, revealed: “We have signed a cooperation agreement ‘Bualuang Home Loans for BAM Property Buyers’ with Bangkok Commercial Asset Management Public Company Limited (BAM) to allow opportunities for those who are interested to buy valuable second-hand properties from BAM while getting offered ‘Bualuang Loans’ with special interest rates for the purchase of such assets, of which the interest rate for the first year starts at only 1.95% per year, with a minimum average rate for the first 3 years of 3.35% per year (in the case of having loan protection life insurance). Customers will be offered with a high loan limit with reasonable monthly installments, as low as 3,000 baht per million per month in the first year, plus free collateral appraisal.”

       Ms. Kongkalai added: “Over the past four years, Bangkok Bank has continued to develop cooperation with BAM as we have already provided credit services for those who wanted to buy properties from BAM amounting to over 500 million baht. This time, our cooperation has been extended further to support buying of second-hand properties with good quality at good prices from BAM through Bualuang home loans at a very low starting interest rate amid the current interest rate hikes. This is another approach that the bank supports to make it easier for Thai people to own real estate, reflecting Bangkok Bank's determination to be ‘Puan Koo Kit (in English: a trusted friend)’ who is ready to be by customers’ side in all financial matters and always helps them to select offers and benefits.”

       For customers who would like to purchase BAM’s properties by taking out Bangkok Bank’s Bualuang loans, special interest rate offers can be selected as follows:

              1. Purchase of a house or condo with a loan amount of 1 million baht or more, consisting of 4 options.

                     - Option 1: Interest rate for year 1 = MRR-4.4% and years 2-3 = MRR-2.8%

                     - Option 2: Interest rate for years 1-2 = MRR-4.15% and year 3 = MRR-1.7%

                     - Option 3: Interest rate for years 1-3 = MRR-3.3%

                     - Option 4: Interest rate for year 1 = MRR-3.15%, year 2 = MRR-3.7%, and year 3 = MRR-1.95% (mortgage registration fee waived)

                     After the first 3 years, the interest rate will be at MRR-1.5% per annum throughout the contract period for all options.

              2. Purchase of a house or condo with a loan amount from 0.5 -9.99 million baht: Interest rate for year 1 = MRR-1.2%, then MRR-0.5%

              3. Purchase of a house or condo with a loan amount of less than 0.5 million baht: Interest rate of MRR-0.5% throughout the contract period

              4. Purchase of vacant land at any loan limits: Interest rate of MRR-0.25% throughout the contract period

       For customers who apply for a loan together with loan protection life insurance according to the conditions of the bank, they are eligible to receive a 0.5% discount on the interest rate for the first year (MRR as of April 11, 2023, equal to 6.85%) (conditions specified by the bank).

       However, interest rates and conditions are subject to change as specified by the bank. Interested customers can see more details at www.bangkokbank.com or contact us at Bangkok Bank branches nationwide or at Bualuang Phone 1333 and Bangkok Commercial Asset Management Public Company Limited or BAM at www.bam.co.th or Call Center at 02-6300-700.