Thai Bank Offers 50-Year Mortgage

Posted by Orb Staff on May 10, 2012 No Comments
Categories : Residential Mortgage

11515_kbank_logo Thai Bank Offers 50-Year Mortgage Forget about 15-year and 30-year mortgages – Thailand's Kasikornbank (KBank) is now offering borrowers the ability to take out a 50-year mortgage.

The Bangkok Post reports that KBank's new half-century home loan is aimed at lower-income borrowers who lack the earning power to qualify for a 30-year mortgage. The extended maturity period will enable borrowers to make lower monthly payments, and no interest is charged for the first six months of the loan.

‘The new mortgage package should help to reduce their financial burden per month,’ says KBank Executive Vice President Chatchai Payuhanaveechai. ‘Customers can also pay a lump sum in later years to reduce interest charges without a fee.’

However, there is caveat: Customers must be 30 years old or younger in order to qualify for the new product.

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