Eastern residents signed up for more than 3 billion baht in loans and insurance at the second Money Expo Rayong.
The Sept. 4-6 show – held in Pattaya for eight years before relocating to Rayong in 2019 – saw applications for 1.4 billion baht in home loans, 1.3 billion baht in health and life insurance, and 400 million baht in small-business loans, plus another billion in other transactions.
Event Chairwoman Pakanee Wiriyarungsarit said the Central Rayong mall event saw 10,600 applications for 4.023 billion in transactions.
Pakanee said the majority of those attending the show had high purchasing power. Rayong residents’ average incomes rank first in the country at 1.1 million baht a year and the province has a gross domestic product of 984 billion baht, second only to Bangkok.
Due to disease-control measures, this year’s expo was a “hybrid event,” she said, with people able to participate both in person and online, with customers and financial institutions very happy with the results.
Most applicants had monthly incomes of 25,000-100,000 baht, many of them working in industrial estates, so their odds of having their loan and credit applications approved are good, Pakanee said.
Home loans and refinancing were the most popular items, with limited-time interest-free periods offered. Other banks offered to waive fees and property-assessment charges.
Life insurance annuities also were popular as well as unit-linked insurance with guaranteed returns of 1 percent annually. Accident and disability insurance policies also were popular as well as car and fire insurance for businesses.
About 4,000 people applied for credit cards with credit lines of 360 million baht, while 1,200 people applied for 170 million baht in personal loans.