Banks drop no-interest loans | Bangkok Post: business

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Banks drop no-interest loans

BoT request leads 3 to stop 0% mortgages

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Three large banks scrapped zero-interest rate mortgages, their standard offer at the Money Expo for 13 years, to abate regulators' concerns about a property bubble. 

Bank for Agriculture and Agricultural Cooperatives president Luck Vajananawat (right) and Money & Banking magazine editor-in-chief Santi Viriyarangsarit (centre) welcome Deputy Prime Minister and Finance Minister Kittiratt Na Ranong to the 13th Money Expo 2013, which runs until Sunday at Impact Muang Thong Thani. APICHIT JINAKUL

Siam Commercial Bank (SCB), Kasikornbank (KBank) and Bangkok Bank (BBL) stopped offering these mortgages at the expo, but other banks continued. The state-owned Krungthai Bank (KTB) and Government Housing Bank (GHB) provide the longest interest-free period at eight months, while mid-sized Thanachart Bank and Government Savings Bank (GSB) offer interest-free mortgages for the first six months.

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