Post by mangomoney on Sept 9, 2016 15:37:16 GMT 7
BAY's 7-year fixed-rate mortgage a first in market
Published: 9/09/2016 at 08:00 AM
Newspaper section: Business
Bank of Ayudhya (BAY) has rolled out a fixed-rate mortgage of seven years at 5% interest to serve demand for locking in low borrowing costs for a longer term.
Apart from the seven-year fixed-rate package, the country's fifth-largest bank by assets is also offering housing loans at a fixed rate of 4% for five years, said executive vice-president Nathapol Luepromchai.
At present, other fixed-rate mortgage schemes in the market offer various periods of up to three years and interest rates around 4%.
Middle- and upper-income clients who want to buy houses priced at a minimum of 3 million baht are BAY's main targets for the five- and seven-year loan products, which will be offered exclusively to customers of six property developers: AP Thailand, Land and Houses, Quality Houses, SC Asset Corporation, Supalai and Pruksa Real Estate.
more...
www.bangkokpost.com/business/finance/1081688/bays-7-year-fixed-rate-mortgage-a-first-in-market
Published: 9/09/2016 at 08:00 AM
Newspaper section: Business
Bank of Ayudhya (BAY) has rolled out a fixed-rate mortgage of seven years at 5% interest to serve demand for locking in low borrowing costs for a longer term.
Apart from the seven-year fixed-rate package, the country's fifth-largest bank by assets is also offering housing loans at a fixed rate of 4% for five years, said executive vice-president Nathapol Luepromchai.
At present, other fixed-rate mortgage schemes in the market offer various periods of up to three years and interest rates around 4%.
Middle- and upper-income clients who want to buy houses priced at a minimum of 3 million baht are BAY's main targets for the five- and seven-year loan products, which will be offered exclusively to customers of six property developers: AP Thailand, Land and Houses, Quality Houses, SC Asset Corporation, Supalai and Pruksa Real Estate.
more...
www.bangkokpost.com/business/finance/1081688/bays-7-year-fixed-rate-mortgage-a-first-in-market
