Banks roll out 0% loans at Money Expo

Friday, 14 February 2014 From Issue Vol. XXII No. 7 By  Urasin Khantaraphan

No-interest loans, high-interest savings accounts, tourist credit cards and stock tips were all on offer as 32 public and private financial-services companies set up shop at the Peach Convention Center for Money Expo 2014.

Bank of Thailand Gov. Prasan Trairatworakul opened the Feb. 7-9 expo, which this year carried the theme of “finance connecting life to dreams.”

Ten major banks offered a variety of interest-free loans for homes and cars, business lines-of-credit, free mortgage registration, bank fees, fire insurance, and electronic gadgets as incentives to borrow money.

Dr. Prasan Trairatworakul, governor of Bank of Thailand, presides over the opening ceremony.Dr. Prasan Trairatworakul, governor of Bank of Thailand, presides over the opening ceremony.

Bangkok Bank teamed up with the Tourism Authority of Thailand for an innovative promotion: a tourism credit card offering 50 percent discounts at leading hotels and special packages for the entire year.

Krungthai Bank also offered 60-month certificates of deposit offering 4 percent interest rates while Krugsri Ayuttaya Bank was offering bank-owned houses, property and other assets at up to 60 percent discounts.

Government Housing Bank joined the other banks in offering 0 percent home loans, but sweetened the deal by waiving loan and appraisal fees.

The Money Expo offered more than chances to borrow money. Various investment firms marketed securities and commodities investments.

TFEX Marketing highlighted stock plans for workers, retirement, income and low-risk takers. Other companies put forth futures, gold and other income investments.

Investors also could sit for a briefing on “Stocks for the Year of the Horse” from Phadermphop Songkhrao, personal finance manager for Kasikorn Bank, Phornee Thongyen, assistant director of research for Asia Plus Securities Co., and Kanthra Ladawan Na Ayuttaya, managing director of Finansia Syrus Securities Co.

It wasn’t all serious business, however. The Money Expo featured concerts from Top Jaron Sorat, Tui Kiatkamol Latha, Wan Thanakrit Phanitwit, Lula Kanyarat Tiyapornchai, Tu Thanaporn Sunthornyankit, Namwan-Khwan, Songkran Rangsank, Taengmo Wanlika and others.

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