Attractive Interest Rates to Fuel Economy at Money Expos in Pattaya, Bangkok, Korat and Chiangmai

The second Money Expo Pattaya located at the Pattaya Exhibition And Convention Hall (PEACH) next to the Royal Cliff Resort on Pratamnak Hill held February 5-7 is a great boost for the Pattaya economy and the image of Pattaya following the ASEAN debacle where the Red Shirts stormed the PEACH and the ASEAN conference was cancelled less than a year ago. Three more Money Expos will be held this year in Bangkok, Korat and Chiangmai. 

Borrowers and time deposit clients are offered exceptional rates, even better than they may get with the same bank at their local branch as all fo the leading financial institutions are vying for new customers.

“Foreigners with a work permit and a company limited with six months to a year of strong bank deposits may qualify for low interest rate loans at the Money Expo,” said  

Ms. Charangsri SookPanich, Branch Manager of Siam Commercial Bank on Pattaya Thepprasit Road.

“The Eastern region has showed a strong demand for credit and financial investments. During the first 10 months of this year, the Board of Investment granted promotional privileges to a total of 35 investment projects worth nine billion baht in the region. So this makes banks want to lend, too,” said a Bank of Thailand spokesperson. Kasikorn Bank (“KBank” formerly Thai Farmers Bank) and Siam Commercial Bank are attracting home buyers with 6-month zero percent mortgage rates as well as other financial services at the second Money Expo Pattaya.

KBank, targeting to lend two billion baht itself at the event, also offers extra interest of 35-45 basis points for 12-month fixed deposit and elderly accounts.

Santi Viriyarangsarit, President of the Money Expo 2010 and Editorin Chief of Money & Banking Magazine, said that second Money Expo in Pattaya should continue the success of last year’s Money Expo which attracted more than 45,000 visitors and generated a record 19.3 billion baht worth of financial transactions.
 
Mr. Santi added, “The campaign of “Easy loan with low interest, Deposit with high interest, offers many exceptional programs to investors and business people.”

He continued, Chonburi province is the center of commerce and tourism of the 11 provinces in the eastern region called the Eastern Seaboard and made up of the Industrial Estates, the Laem Chabang Port, the Naval and Army bases, Pattaya - Asia’s largest beach resort - and a combined permanent population of 1.2 million people and a Gross Provincial Product of 492 billion baht in 2008.

Mr. Santi believed all of the events will meet with the same success as the Bank of Thailand has predicted an improving economic trend for 2010.

This was an increase of 38 billion baht from the previous year. And “2009 is expected to be even higher with some help from the highly successful Money Expo held in Pattaya last year,” said Vittaya Kunplome, Chairman of the Chonburi Provincial Council.

“We would like to see the trend continued for our local economy to continue to prosper and get out of the slup felt world-wide and are glad to hold the second Money Expo in Pattaya,” said Pattaya City Mayor Itthiphol Kunplome.

The Money Expo, organized by the Money and Banking magazine, serves as a meeting point between commercial banks, financial institutions and insurance companies on one side, and small to medium enterprises (SMEs) and the general public, who will be provided with direct access to lenders for their businesses.

The Money and Banking magazine has successfully organized the Money Expo for nine consecutive years, mainly in Bangkok and major cities in the provinces.

Most local foreigners believe the major investment is in property by foreigners when in fact the majority of foreign capital into Thailand comes in the form of securities investments in Thai stocks.

Other financial services such as Housing Loans, Personal Loans, Credit Card Services, House Leasing Services, SME services, and all type of deposit accounts were available under the program which continues at the upcoming Expos in Bangkok May 7-10 and Chiang Mai October 6-8. Regarding the investing service, the Stock Exchange of Thailand together with the Stock Exchange Company and ASSET have brought in the creative idea “Invest with Money Expo Pattaya 2009 High Return” by various options such as, Stock, Fund, Treasury, Debt Security, including the life insurance services which consisting of various options.

There were 19 private organizations involved such as, Bangkok Bank, Kasikorn Bank, Siam Commercial Bank, Ayudhya Bank, Thai Military Bank, Siam City Bank, Thai Bank, The Government Saving Bank, The Housing Bank, Krung Thai Bank, Ayudhaya Auto Lease Public) Co., Ltd., AEON Thailand Public) Co., Ltd and Muang Thai Insurance Co., Ltd.

Government organizations involved in the Money Expo are the Revenue Department, Stock Exchange of Thailand (SET), Agricultural Futures Exchange of Thailand (AFET), Assurance Control and Promotion Department, Thai Life Assurance Association, and Bangkok Commercial Asset Management Co., Ltd.

In Bangkok, the Money Expo will be held on May 6-10 at the Queen Sirikit National Convention Center. In the Northeast, the Money Expo will be held from October 8-10 at The Mall Korat in Nakhon Ratchasima.

In the North, the Money Expo Chiangmai will be held from November 12-14 at the Chiangmai University’s auditorium.

Mr. Santi believed all of the events will meet with the same success as the Bank of Thailand has predicted an improving economic trend for 2010.

Siam Commercial Bank booths during last year's Money Expo were filled with Thais interested in applying for loads and mortgages.

There are many financial specialists to advise the interested attendees. Personal Financial Plan, Financial Administration, and Middle & SmallSized Business Administration Plan seminars will be presented at some of the Money Expos. This is in order to tackle the current business crisis. Tax information was also provided by the evenue Department officials.