Kasikornbank (Kbank) expects its new home loans to reach Bt16 billion in the first quarter of this year, driven by two major campaigns, highlighting free mortgage registration fee and special interest rates, the bank’s executive vice president Surat Leelataviwat said yesterday.
The two campaigns are K-Home Loan Refinance campaign featuring free mortgage registration fee of up to Bt200,000 along with special interest rate, and the K-Home for Cash campaign offering special interest rate for the first two years at minimum retail rate or MRR-1 per cent per year, and MRR-0.5 per cent per year thereafter, along with free appraisal fee worth Bt3,000.
He added that K-Home Loan recorded high growth in 2018, with new loans reaching more than over Bt74 billion and outstanding loans totalling approximately Bt280 billion, up 12 per cent year-on-year.
Looking into 1Q19, it is expected that home loans overall will continue to post high growth in advance of the Bank of Thailand's enforcement of a new measure in April 2019, aimed at supervising home loans and building long-term economic stability.
Surat added that KBank has targeted new home loans to reach Bt66 billion at the end of year 2019.