E-app for housing loans
CIMB THAI Bank is developing an e-application for housing loans after applications rose for e-personal loans.
Onanong Udomkantong, executive vice president for retail lending products, said yesterday that the increasing popularity of the online channel reflects the uptrend of self-service consumers.
The bank is creating a website for home loans after seeing more consumers searching for resale homes and comparing the interest rates of all financial institutions.
The behaviour of consumers has changed from visiting residential projects and collecting information on interest rates and the campaigns of banks from the sales staff there.
The bank introduced personal loan applications on its website last August.
The first two months saw 2,000-3,000 e-applications.
So far this year, they have climbed to 5,000 a month, accounting for 6-7 per cent of applications via all channels.
The bank hopes that online applications will grow to 1,000 a month or 10 per cent of total applications this year.
The bank has promoted a special personal loan for self-service customers – a long 60-month term with a low interest rate of 18 per cent versus the maximum of 28 per cent allowed by the regulator.
“We should charge low interest for self-service in order to convince people to use more online channels.
“And the bank can save costs and convert the lower cost into a lower interest rate,” she said.
Information accessibility encourages new-generation customers to search for what is best for them and they prefer making financial transaction by themselves.
The coming National e-Payment network will also boost consumer convenience.
The bank will focus on how to deliver easy and convenient channels to customers, she added.
