Tisco Bank Launches Land-Backed Loans for SMEs

Tisco Bank has introduced two new credit products: property-backed loans and SME business loans under the concept of "unlocking every financial need." These products allow customers to convert land and real estate into accessible working capital for personal expenses, debt consolidation, or business expansion.

Somchai Saeuang, Senior Assistant Managing Director of Retail Credit Strategy and Development at Tisco Bank Public Company Limited, noted that Thailand's challenging economic conditions and high cost of living have pushed many individuals and entrepreneurs to seek financing. Some resort to informal lending or asset sales, which increase financial costs and carry long-term risks of property loss. Tisco Bank recognizes this need and offers solutions allowing customers to transform existing land and property into revolving capital for daily expenses, consolidating high-interest debts, merging multiple loans for easier management, or funding business expansion and growth.

The bank offers two products: (1) Property-backed loans for individuals needing capital for personal use, liquidity improvement, or debt refinancing, with a fixed rate starting at just 0.55% per month or 11.85% per annum; and (2) SME property-backed business loans with a declining-balance interest structure based on Tisco Bank's MLR rate (7.35% per annum as of September 4, 2024). The bank provides consultation services and can be reached at 02-633-6000 ext. 7, at www.tisco.co.th, or at any Tisco Bank branch nationwide.