PATTAYA, Thailand – A joint study by ttb analytics and the National Credit Bureau (NCB) has found that more than 40% of Thai working-age people aged 20–60 still have no credit information in the formal system, limiting their financial visibility and potentially restricting access to formal loans.
The findings show that out of 39.18 million working-age Thais, only 23.5 million people (around 60%) have credit records, while the remaining population has no formal credit history. Researchers noted that part of the gap is due to certain financial institutions, including some cooperatives, not being fully integrated into the credit reporting system under existing regulations. NCB Managing Director Dr. Lasamon Attaphich said the concern is not only household debt levels, but also the large number of people who remain “invisible” in the financial system, which reduces their ability to build creditworthiness and access formal credit when needed.
She added that credit scores play a key role in loan approvals and interest rate determination, reflecting repayment behavior, credit usage, and financial discipline. Individuals with strong credit histories are more likely to receive better loan conditions, while those without records may face limitations in accessing formal financial services. ttb analytics highlighted that personal loan interest rates in the formal system average 17–25% per year, while informal debt can reach as high as 120% per year, or nearly six times higher. The report also emphasized that borrowers with strong credit profiles may access higher loan limits for products such as car loans and mortgages. Naris Sathapholdecha, Head of Data and Analytics at TMBThanachart Bank (ttb), said credit scoring is increasingly being used in risk-based pricing, allowing customers with strong repayment behavior to receive lower interest rates based on their risk profile.
He added that some installment payment services, while allowing timely repayment, may not always contribute to credit bureau records, meaning consumers may not benefit from building a formal credit history. According to ttb analytics, the bank’s personal loan product “ttb Cash2Go” has already approved more than 23,000 customers, with total lending of over 4.1 billion baht, and over 80% of approved borrowers receiving interest rate reductions of around 5% compared to traditional pricing models. Officials emphasized that building and maintaining a strong credit history is essential for improving long-term access to financial services and ensuring fairer borrowing conditions based on financial discipline. (TNA)
