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Cheap-loan shoppers who visit Money Expo 2008, the big annual financial exposition, will not only make use of the usual zero-interest lending rate promotion packages but also personal financial advisers provided by banks.

The event will run from Thursday to Sunday at the Queen Sirikit National Convention Centre under the concept "Smart Investment Enriches Your Life". 

Over 130 banks and financial institutions will participate in the expo, promoting a variety of interesting financial products.

Santi Wiriyarangsarit, editor of Money and Banking Magazine and president of Money Expo 2008, expects that total transaction value from the event will rise to Bt80 billion from last year's Bt76.9 billion. Housing loan approvals are expected to increase from last year because of tax stimulation measures offered by the government. Last year, banks loaned Bt53.86 billion in mortgages.

The event is expected to attract 650,000 visitors, more than last year, because of attractive promotions and new types of financial products.  

The battle of financial product promotions among banks will offer not only zero per cent rate loans but booths for personal financial planning consultant services. Customers will be examined for financial health before they apply for consumer loans.

Many banks still maintain the zero per cent rate strategy as they have done for the past several years. Nabhengbhasang Krishnamara, executive vice president of Siam Commercial Bank, said that the zero per cent rate offered for housing loans would play an important role in attracting and stimulating customers to make the decision to apply for loans immediately. There are many customers waiting for special interest rates at the Money Expo, he added.

Though Siam Commercial Bank didn't see any growth trends in mortgages, it still offers a zero per cent rate for six months in housing loans along with no lending fee and asset assessment fee.

Kasikornbank also provides a zero per cent rate for all of its

30 items of financial products ranging from K-Express Cash, K-Credit Card and K-Home Loan.

Krung Thai Bank offers a similar zero per cent promotion for home loans and is selling its non-performing assets at a 50 per cent discount. 

Consumers looking for personal loans can find special promotions and many kinds of loans at the BankThai booth, which offer six types of loans: personal finance, SME, education, home, mortgage and property loans. It also waives a credit line fee for every kind of loan.

Thai Credit Retail Bank, a new bank participating for the first time in the event, will open its booth for "Gold Exchange for Money" and "Express Gold Loan" to take advantage of higher living costs and a new school semester, emphasising a low cost bank brand. The bank also offers rice packages for its customers.

Taking the event as an opportunity to launch new products, Krung Thai Bank offers two online services. KTB Pocket Banking, the first in Thailand that allows customers to make full financial transactions via mobile phone without the need to switch Sim cards. KTB Smart Open Account gives an automatic account opening in three minutes through an identity card without filling any forms.

 Kasikornbank also allows the customer to make important financial transactions via a mobile phone that performs like a mobile ATM. 

Several banks are taking this opportunity to offer customers financial plan consultants and loan analysis so they can decide on the most suitable financial products.

Bangkok Bank provides a "Financial Fitness Centre" with over 500 financial advisers. It's a good opportunity for visitors who want to check on their financial health and develop a personal health improvement programme.

Kasikornbank also provides a personal finance consultant from every subordinate company under the concept of "Simplify Your Life with K-group Innovation".

GE Money offers financial knowledge to customers and the most appropriate choices matching their debt servicing ability under the concept "Socially Responsible Products That Respond to All Lifestyles". 

This expo is a consumer market. But those seeking personal loans should think twice whether it's really necessary to borrow. Don't let cheap interest rates lure you because living costs are rising while purchasing power is decreasing.