Update! Home loan interest rates 2024 for all banks

Home loan interest rates or home loans are the factors that determine the installment payments for purchasing a single house, a twin house, a townhouse, or a condo for those who apply for a home loan through a bank. Therefore, those who have not yet decided which bank to apply for a home loan with can rest assured.

Commercial Bank Home and Condo Interest Rate Table August 2024

Top 8 Banks with the Lowest Average Home Loan Interest Rates This Month

1. Government Housing Bank (G H Bank)
   Government Housing Bank (G H Bank) has a product, GHB Precious Plus Home Loan 2024 and SCG HEIM Home Loan 2024, which has the lowest average interest rate of 2.60% for 3 years, divided into a fixed interest rate of 1.60% for the first year, 2.60% for the second year, and 3.60% for the third year for general retail customers or welfare customers without deposits and borrowers with a gross income of 70,000 baht/month or more, with a combined legal credit line of 10 million baht or more, with a credit line based on collateral criteria by the loan operating regulations.

In addition, there are interesting products such as Home Loan No. 5 in 2024, which has conditions for borrowing money to buy housing projects (FT/LTF/SFT/RFT/BZP) that have been certified as Home No. 5 by the Electricity Generating Authority of Thailand or building a residence using the bank’s energy-saving home model that has been certified as Home No. 5 by the Electricity Generating Authority of Thailand, with the lowest average interest rate of 2.76% and providing a credit limit according to the collateral criteria by the loan operating regulations. Currently, real estate entrepreneurs are participating in the Home No. 5 project with the Electricity Generating Authority of Thailand, including:

• Supalai Public Company Limited
• AP Thailand Public Company Limited
• Quality Houses Public Company Limited

In addition, the Government Housing Bank (GH Bank) also has an interesting product for animal lovers, the Big Family X Pet Lover home loan in 2024, to purchase a residence in a project that allows pets or allows pets to use common areas, with an average interest rate of as low as 2.76% as well, and provides a loan amount based on collateral criteria by loan operating regulations.

Including government policy loans, the Happy Home home loan project with a fixed interest rate for years 1-5 = 3.00%, with a maximum loan amount of no more than 3,000,000 baht per person per collateral, with a loan period of no less than 3 years and no more than 40 years. The borrower’s age plus the number of years requested for the loan must not exceed 70 years, except for judicial officials, prosecutors, or others who have a retirement age of more than 60 years, in which case the borrower’s age plus the loan period must not exceed 75 years. The loan application period is from April 9, 2024, and the transaction will be made until the loan is full of the project’s credit limit, no later than December 30, 2025.

In addition, the Government Housing Bank (GH Bank) has many other home loan products with a relatively low 3-year average interest rate, such as loans in conjunction with government policies, housing projects specified by the bank, and GH Bank second-hand home loans. The loan application period will be as specified by the bank. You can view the preliminary interest rates of various interesting products at the Government Housing Bank (GH Bank).
*Refer to the bank’s announcement MRR = 6.545% (announced on May 1, 2024)

2. Government Savings Bank (GSB)
   GSB has a promotion for GSB home loans for Thais with a fixed interest rate of 1.95% for the first year and an average of 2.95% for 3 years, with an installment payment option of 2,500 baht per million baht per year in the first year, 3,500 baht per million baht per year in the second year, and 4,500 baht per million baht per year in the third year. After that, 8,200 baht per month for borrowers who wish to purchase life insurance to cover the loan amount. The loan amount is subject to the conditions set by the bank. The promotion period is from April 17 to December 30, 2024, or until the project budget of 10 billion baht is reached. Approval and legal contracts must be made by January 30, 2025.

For general home loans, home loans for specific professional groups, and GSB Green Home Loans, energy-saving homes have an average interest rate for the first 3 years of 4.795% for borrowers who wish to purchase life insurance to cover the loan amount. The average interest rate for the first 3 years = 5.295% in case the borrower does not wish to purchase life insurance to cover the loan amount. Both interest rates provide a maximum loan amount of not more than 110%.
*Referring to the bank announcement MRR = 6.595% (announced on May 1, 2024)

3. Bank of Ayudhya (BAY)
   The lowest average interest rate for the first 3 years of Bank of Ayudhya (BAY) is 3.30% from Krungsri loans for purchasing housing from projects supported by the bank (Platinum Developers) and general projects, single houses, twin houses, townhouses, townhomes and condominiums priced at 1 million baht and above, and commercial buildings / home offices priced at 3 million baht and above, both new and second-hand, for general customers / high-income earners / special occupation groups (doctors, veterinarians, dentists, pharmacists, judges and commercial pilots) to purchase housing from general projects / Krungsri Exclusive customers / “couples” who want to live together and KRUNGSRI PRIME customers with a loan amount starting from 5 million baht and above, with the bank providing a maximum loan amount of 100% of the appraised price (90% of the appraised price for Prime and Potential B group projects) / 90% of the appraised price (Commercial buildings / Home offices) and 90% of the appraised value (85% of the appraised value for residential units) for KRUNGSRI PRIME customers.

For “couples” who want to live together, there will be a difference from the original joint loan. The joint home loan application for friends who want to live together is different from the original joint loan. It is not necessary to have a relative relationship with the borrower. Instead, the income, repayment potential, and credit of both borrowers will be considered, including checking to confirm the relationship. The primary borrower and the co-borrower must have the following qualifications:

• Individual
• Thai nationality
• Age 27-65 years
• Full-time employee, total working experience at previous and current workplaces at least 2 years (current job must have passed probationary period)
• Self-employed, having been in business for at least 2 years
• The primary borrower must have an income of at least 30,000 baht per month, and when combined with the income of co-borrowers, it must not be less than 50,000 baht per month
• The borrower must have documents or evidence showing a relationship or living together for at least 1 year, as specified by the bank, such as a house registration together, a joint deposit account, etc. For more information, please ask the sales staff.

In this regard, the Bank of Ayudhya (BAY) has issued a relief measure by reducing the interest rate on loans by 0.25% for vulnerable customers, both individual customers and SME entrepreneurs for 6 months, effective from May 16, 2024 – November 15, 2024.

Vulnerable customers who are eligible for assistance are as follows:
Home loan customers who are current customers with a total approved credit line not exceeding 2 million baht (according to the bank’s information as of March 31, 2024) and an income not exceeding 30,000 baht per month (according to the bank’s assessment of the date the bank last approved the loan)
SME entrepreneurs who are current customers, including both individuals and juristic persons, with a total business credit line not exceeding 2 million baht (according to the bank’s information as of March 31, 2024) and sales not exceeding 200,000 baht per month (according to the bank’s assessment on the date the bank last approved the loan)
*Refer to the bank’s announcement MRR = 7.400% (announced on October 6, 2023)

4. Thanachart Bank (TTB)
   The lowest average interest rate for 3 years is 3.30% with the following conditions: The project that is being purchased must be a new house from a special real estate development company specified by the bank (partner company) and must apply with all 3 types of supplementary products. You will receive a special interest rate for 3 years / free fire insurance premiums worth approximately 1,000 baht per year per 1 million baht of house price / free mortgage registration fee worth 1% of the loan, up to 200,000 baht and free bank fees for home loans, including property appraisal fees, loan processing fees, and mortgage legal fees.

Project reviews from some famous real estate development companies as specified by the bank

• New project reviews from Sansiri
• New project reviews from Ananda
• New project reviews from AP (Thailand)

Meanwhile, Thanachart Bank (TTB) announced a 0.25% reduction in lending interest rates per year for loan products referencing MRR, MLR, and MOR interest rates, effective from May 16, 2024 – November 15, 2024, for 6 months.

Vulnerable customers who are eligible for assistance are as follows:

• Home loan customers with an average total income per month of no more than 30,000 baht and an approved credit line of no more than 2 million baht
• SME loan customers with an income in 2022 of no more than 30 million baht and an approved credit line of no more than 5 million baht. The said assistance measures will not cover home loan and SME loan customers who have previously participated in specific assistance measures with the bank.

The said interest rate is effective between 2 April – 30 June 2024. Please update the bank again.
*Refer to the bank’s announcement MRR = 7.830% (announced on 3 October 2023)

5. Krungthai Bank (KTB)
   Krungthai Bank (KTB) has a product called Krungthai Aromdee Home Loan for houses with a purchase price and a loan amount of more than 3 million baht, and the borrower must have insurance to protect the loan amount. The average interest rate for the first 3 years is the lowest at 3.33%, with an interest rate of 2.00% in Year 1, 3.00% in Year 2, and 5.00% in Year 3, and a maximum loan amount of 100% for a maximum loan period of 40 years.

In addition, Krung Thai Bank (KTB) also has another interesting product, a housing loan for government employees, with an average interest rate of 3.10%. In the case of insurance to protect the loan amount, it is divided into 2 formats: Format 1 has an interest rate of 1.55% in year 1, 3.75% in year 2, and 4.00% in year 3, and Format 2 has an interest rate of 2.90% in year 1, 3.20% in years 2-3, and can choose to pay low installments and offers a maximum loan period of 40 years.

Krungthai Bank (KTB) also has special-price second-hand properties for sale as an alternative to searching for a home. If interested, you can search for the bank’s second-hand properties (NPA).

In addition, Krungthai Bank (KTB) has issued additional measures to reduce the interest rate on loans to allow vulnerable customers to adjust and recover by reducing the interest rate on loans that are charged with the floating interest rate MRR, MLR and MOR by 0.25% per year for a period of 6 months from May 16, 2024, to November 15, 2024.

Vulnerable customers who are eligible for assistance are as follows:

• Home loan and personal loan customers who are still under the bank’s assistance measures
• Home loan customers with a credit line of ≤ 2 million baht
• SME loan customers, both individuals and juristic persons who conduct business, with a monthly business income of ≤ 2 million baht and a credit line of ≤ 10 million baht

Exceptions: Except for special local government loan accounts that are not under the bank’s assistance measures and except for accounts for which the court has already issued a judgment
*Refer to the MRR loan interest rate = 7.570% (announced on October 5, 2023)

6. Kasikornbank (Kbank)
   For Kasikornbank (Kbank), the lowest average interest rate for the first 3 years is 3.42%, divided into a fixed interest rate for the 1st year = 3.09%, and for the 2nd – 3rd year = 3.59%. For special interest rates for customers with a regular income of 100,000 baht per month/customer groups with SME loans with Kasikornbank, income from 200,000 baht per month/customer groups with general entrepreneurs, income from 300,000 baht per month and customer groups with special professions*, no income level limit, the loan is limited to no more than 100% of the purchase price and no more than 100% of the collateral appraisal price in the case of insurance according to the conditions.

Including green home loans, save the world, buy a new house, an eco-friendly house, an energy-saving house from a leading real estate development company, by specifying that the loan is not more than 110% of the purchase price and not more than 110% of the appraised value of the collateral in the case of insurance according to the conditions, which has an average interest rate of 3 years of 3.42%, the same, different in determining the maximum amount, divided into a fixed interest rate in year 1 = 3.09%, year 2 – 3 = 3.59% as well.

As for the interest rate for general customers, loans to buy new houses, second-hand houses, in the case of insurance according to the conditions, the lowest average interest rate for the first 3 years is 6.45%, divided into a fixed interest rate for the 1st year = 4.99%, years 2 and 3 = MRR-0.12%, with a loan of no more than 90% of the purchase price and no more than 90% of the collateral appraisal price, depending on the collateral as determined by the bank.

Kasikornbank (Kbank) also has a special interest rate for loans to purchase Kasikornbank’s foreclosed assets, houses, condominiums, and commercial buildings, with the lowest average interest rate at 3.42% for insurance according to the conditions and 3.59% for no insurance.

Including measures to help vulnerable customers during the period when the economy has not fully recovered, reducing interest rates by 0.25% for loans referencing floating interest rates for a period of 6 months, effective from May 16, 2024 – November 15, 2024.

Vulnerable customers who are eligible for assistance are as follows:

• Individual customers who use the “Home Loan” or “Home Loan Help” product with a combined credit limit approved by Kasikornbank of no more than 2,000,000 baht, according to the bank’s information as of March 31, 2024, and have an income of no more than 30,000 baht per month, according to the bank’s assessment on the date the bank last considered approving the loan.
• SME customers who have outstanding loans with Kasikornbank and revolving credit lines with Kasikornbank totaling no more than 2,000,000 baht as of March 31, 2024, and have sales of no more than 200,000 baht per month, according to the bank’s assessment on the date the bank last considered approving the loan.

*Refer to the bank’s announcement MRR = 7.300% (as of October 4, 2023)

7. Siam Commercial Bank (SCB)
   Siam Commercial Bank (SCB) has the lowest 3-year average interest rate at 3.47%, which is the interest rate for new home loans for target customers under the bank’s conditions (Strategic Group) and loans for specific professional groups, including doctors, dentists, veterinarians, pharmacists, university lecturers at the assistant professor level or equivalent or higher, judges, and prosecutors, with an interest rate of 2.55% for the first year and 2-3 years = MRR-3.37% and a maximum loan amount of 100% of the collateral appraisal price.

For general customers, the interest rate for new home loans Siam Commercial Bank (SCB) is divided into 2 types: Type 1 (life insurance covering more than 70% of the loan amount) with an average interest rate for the first 3 years of 7.255% and Type 2 (no life insurance covering the loan) with an average interest rate for the first 3 years of 7.30%.

In addition, Siam Commercial Bank (SCB) also has second-hand houses, and bank assets (NPA), with interest rates under the bank’s announcement and loan approval under the bank’s regulations. Those interested can search for the bank’s popular properties.

In addition, Siam Commercial Bank itself has announced a 0.25% interest rate reduction for loans referencing the floating interest rate MRR and MLR to help vulnerable customers, both individual customers and small SME entrepreneurs, for a period of 6 months, effective from May 16 – November 15, 2024.

Vulnerable customers who are eligible for assistance are as follows:

• Individual customers, home loans, and My Home My Cash with a credit limit not exceeding 2 million baht
• Small SME entrepreneurs, business loans Long-term loan type (Term Loan) with a total credit limit not exceeding 2 million baht (considering the outstanding long-term loan payment and revolving credit limit)

*Refer to the bank announcement MRR = 7.300% (Announced on October 2, 2023)

8. Bangkok Bank (BBL)
   Bangkok Bank (BBL) is a financial institution with the most home loan products and various interest rate options. The maximum loan amount is not more than 100% of the collateral value and the lowest 3-year fixed interest rate is 3.72%, divided into Year 1 = 2.75%, Year 2 and Year 3 = MRR-3.10%, with the maximum loan amount not more than 100% of the collateral value.

The product with the lowest interest rate of 3.72% from Bangkok Bank (BBL) has the following conditions for applying for a home loan: the borrower must be in a specific professional group, such as doctors, judges, prosecutors, and pilots, or permanent employees with a salary of more than 200,000 baht. All of the products mentioned above have the condition of having insurance to protect the loan amount.

In addition, Bangkok Bank (BBL) also has many other home loan products, with the loan application period set by the bank. You can see the preliminary interest rates of various interesting products at Bangkok Bank (BBL)

***The interest rate is effective between January 11 – March 31, 2024. Please update with the bank again.***

*Refer to the bank’s announcement MRR = 7.050% (announced on April 29, 2024)

*Most home loan rates do not change very often, about once a quarter or half a year.

Example: Using the initial repayment ratio of 1,000,000: 7,000
If you borrow money to buy a house with an appraised price of 2,000,000 baht, you can calculate the initial monthly payment from the loan amount at approximately 14,000 baht per month.

***Initial calculation from an assumption Using a fixed interest rate of 2.89% throughout the 1st-3rd year

Borrowing a house from a bank with an average interest rate of 2.89% for all 3 years, divided into 14,000 baht per month for the 3 years, totaling 504,000 baht, divided into 347,196.69 baht as principal and 156,803.34 baht as interest.

The calculation of principal and interest in the above example is only an initial calculation for the first 3 years. If you want to calculate the home loan repayment throughout the loan period

***The above calculation is an estimate. The actual rate depends on the conditions of each bank.***

In addition to the bank interest rates that we have collected, we also recommend some basic techniques for choosing a home loan with low interest and a high loan amount.

1. New project houses If you are going to buy a new project house or a new house, which is a purchase directly from a real estate development company, many companies are currently collaborating with banks to provide special low interest rates to their customers. Therefore, you should not overlook the home loans provided by the project or you can inquire directly from the bank whether the project you are interested in buying is a project supported by the bank or not.
2. Buying NPA bank assets The bank that owns the NPA assets usually has a special interest rate for customers who buy bank assets. You can inquire with the loan officer of the bank that owns the assets.
3. The organization you work for Some banks have special interest rates specifically for employees working in that organization in the form of various welfare benefits. There are both government and private agencies. Therefore, you should ask the human resources department if there are any welfare benefits for home loans with any bank or inquire with the banks. In addition, some banks have different interest rate groups for certain businesses or sizes of companies, which you can inquire with the loan officer of each bank.
4. Special professional groups such as doctors, dentists, pharmacists, commercial pilots, judges and prosecutors. Some banks have special interest rates specifically for this customer group. You can inquire with the bank’s loan officer.
5. Civil servants, government employees, and state enterprise employees Most of them have home loan welfare benefits with government banks, such as the Government Savings Bank and Krungthai Bank. Government Housing Bank, Bank for Agriculture, you should ask the parent organization or loan officer of these banks first to use the full benefits.
6. Buy MRTA insurance. Buying MRTA or loan protection life insurance along with applying for a home loan, the bank usually gives a slight discount on the interest rate. However, there will be conditions on how much of the loan amount or for how long the insurance must be in order to qualify for the special interest rate. The bank’s loan officer will be able to provide details.
   All of this information is collected from the bank’s website and from inquiries with bank officers only. If you have any questions or need more details, you can search for more information on the website of the bank issuing the loan or ask the bank’s loan officer directly at any branch, who will be happy to provide information.