Since the launch of the new K PLUS application from Kasikornbank Public Company Limited since October 2018, a group of customers will receive special privileges on the K + TODAY menu, one of which is “Pay-day personal loans” that usually appear at the end of the month Which will receive only customers who meet the criteria according to the criteria for consideration
Kasikorn Bank Pay-Day Personal Loan It is a short-term loan. The loan period is 30-60 days, the interest rate is 26% per annum. The credit limit will be from 1,000 baht to a maximum of 20,000 baht. The installment period is just 1 period. Deposit To consider loan offering and approval
In the past, Kasikornbank developed an artificial intelligence (AI) system called “KADE” (KADE) that learns and processes user behavior. One of them is lending to more than 10 million K PLUS users with access to micro-financing. Both general customers and small entrepreneurs
The target group of pay-day personal loans is those who have income or cash flow into their KBank account. Average from 7,500 baht per month, considering the monthly income Or cash flow in the account, average monthly for at least 6 months, which the system will automatically calculate and show the credit limit.
Even though the proposed limit appears to be too small But considering the debt repayment ability, K PLUS’s intelligence is an invitation from the bank to apply for a pay-day personal loan. Usually come late And have less than 1,000 baht in the account, so there are people who pay attention to apply Especially people who have a month to month life
Step After pressing “Interested to apply”, the system will display “Your Maximum Credit Limit”, select the desired amount and more importantly, “Personal Credit Information”. Think about how many personal loans, credit cards or cash cards we have. How much is the total limit? Actually Because the system will sync data with the National Credit Bureau Co., Ltd. (Credit Bureau)
From the trial by filling out personal loan information And give consent to disclose information via the Internet, then no more than 1 minute, the system will notify via K PLUS and email if approved. It will show details of the credit agreement such as contract number, loan amount approved. Due date Interest rate And estimated payment amount
If you need a loan, press the button “Agree to accept credit” within 72 hours, the bank will transfer the funds to the customer’s account immediately. Except if the transaction is made after 8:30 p.m., the money will be credited to the account the next morning Which the money received will not be in full amount Because the stamp duty is deducted on the loan agreement Every 2,000 baht loan balance is charged 1 baht (Fraction of the loan amount 2,000 baht is charged 1 baht)
Someone might wonder if How will I pay the loan after receiving the loan? From an inquiry of Kasikorn Bank Received an answer that The payment will be automatically deducted through the KBank savings account that accepts the loan. Which equates to that on the due date There must be enough funds in your account to deduct the estimated payment.
The advantage of pay-day personal loans is Give a loan as fast as 5 minutes, no paperwork required. Just answer real personal loan information questions. But the disadvantage is For customers who meet the conditions It appears in the menu K + TODAY is not open to general application opportunities. If you’ve missed one time Have to wait for the condition to be met again So there will be an invitation message next time
In addition, the approved credit limit is very small. Just in the thousands baht The interest is equivalent to a cash card. It is calculated on a daily basis with reduced interest (Effective Rate), in which, if desired Must apply for personal loan by submitting documents instead And have to wait for the bank to approve Which is a normal procedure
Nevertheless, the determination of only one installment period and calculating the total estimated payment Ended at once Therefore suitable for people who have a month and month life And do not want to withdraw cash from credit card or cash card Like heaven please Because the chances of people getting an invitation to apply for a Pay-Day personal loan are infrequent.
But the best way is to use it only when it is really necessary, because even if you are happy with the money you receive But when the time comes for automatic debit May be dismayed by the amount of payments that have been deducted from the money in the account, which the interest of 26% per year is not at all.
New personal loans Which is not limited to lump sum money or cash card Coming in gradually Because there is still a Siam Commercial Bank offering a “money” service for permanent employees Krungthai card or KTC Come down to do Pico Finance, targeting the grass roots group And peer-to-peer lending at the Bank of Thailand are open for testing at this time.