Can foreigners get a loan in Thailand?

Banks offer a range of financial services to Thai people from credit cards, business loans to personal loans for education, medical treatment or general use.

Banks have their own policies when lending to foreigners and for a foreigner to be able to access bank loans, they must meet the following criteria:

• At least a one-year work permit or a Thai resident permit
• Proof of employment in Thailand and annual salary (including payslips)
• In some cases, banks may require the employer’s company documents
• Pass a credit check conducted by the bank
• The applicant’s age combined with the loan period must not exceed 60 years
• Must have a stable and secure job
• Total income must be at least three times higher than each installment.
• The aggregate amortisation of the loan must exceed seven years (for some banks)

In general, each bank has its own requirements for lending funds to foreigners.