Short-term rates cut, longer-term ones hiked; 'zero' deals still available

Kasikornbank maintains a zero rate for the first three months. After that borrowers can choose from six options:

Fixed at 1.75 per cent for the fourth to 12th months, then decreasing by 0.5 percentage point from the previous rate; Fixed at 4.5 per cent for the fourth to 24th months, then increasing by 0.75 percentage point from the previous rate; Fixed at 5.25 per cent for the fourth to 36th months, then increasing by 0.5 percentage point from the previous rate;

Floating at the minimum lending rate (MLR) minus 2.75 percentage point for the fourth to 12th months, then decreasing by 0.75 percentage point from previous rate;

Floating at MLR minus 0.5 percentage point for the fourth to 24th months, then increasing by 0.75 percentage point from the previous rate; and Floating at MLR for the fourth to 36th months, then increasing by 1 percentage point from the previous rate.

After that MLR, which is now at 5.85 per cent, will be applied to all options. The rates are in effect until September for both new loans and refinancing loans.

Siam City Bank offers general customers 3.99 per cent in the first year, and then MLR minus 0.5 percentage point. Currently, the bank's MLR is 6.25 per cent.

However, for the special promotion running to next month, the rates are different.

Arpichad Akdhakura, senior vice president for housing loans, said the bank had adjusted the special mortgage rates on offer to customers of the property projects joining the bank's campaign.

The fixed portion was reduced from 1.99 per cent in the first year to 1.75 per cent.

For those preferring variable rates, the floating rate will be charged at MLR minus 3 percentage points for the first two years, down from 3.25 percentage points.

After that the bank will charge MLR minus 0.75 percentage point or 1 percentage point for both options, depending on the project. But if it is a loan for refinancing, the borrower will be charged MLR minus 1.25 percentage point after the oneyear fixed rate or twoyear floating rate.

TMB Bank has also recently revised its homeloan rates. Borrowers will be charged a fixed 0.88 per cent during the first eight months, then MLR minus 1.5 percentage point from the ninth to 36th months. From the fourth year, the rate changes to MLR minus 1.25 percentage point. However, the minimum charge is 2 per cent.

For refinancing borrowers, the bank offers a discount of 0.25 percentage point starting from the ninth month. These rates apply until September 30. TMB Bank's MLR stands at 6.25 per cent.

The Government Savings Bank also revised its mortgage rates last month to a fixed rate of 1.25 per cent in the first year, MLR minus 2 percentage points in the second year and MLR minus 0.5 percentage point in the third year and thereafter. The GSB is quoting its MLR at 5.85 per cent.

New refinancing loans until next month will be entitled this new rate structure, as well as maximum principal of up to 95 per cent of the appraised value.

Siam Commercial Bank offers only one type of rate for new borrowers - fixed at 4 per cent for the first year, and then the minimum retail rate (MRR) plus 0.25 percentage point. Its MRR is now 6.45 per cent.

The bank offers five types of rates for refinancing borrowers, who have paid instalments for three years. The debt must have at least Bt600,000 remaining.

Fixed at 1.74 per cent for one year, then MRR minus 1.5 percentage point;

Fixed at 0.9 per cent for nine months, then MRR minus 1.5 percentage point; Fixed at zero for the first six months, MRR minus 2 percentage points for the next 30 months, then MRR minus 1.5 percentage point;

Fixed at zero for the first six months, MRR minus 3.25 percentage points for the next 18 months, then MRR minus 1 percentage point; and

Refinancing fee of 1 per cent to be paid by the bank for the borrower, floating at MRR minus 2 percentage points for the first three years, then MRR minus 1.5 percentage point

The rates are available until September.