Siam Commercial Bank (SCB) is offering a liquidity management strategy for customers buying their first home to help them cope with inflation. The Bank, in partnership with leading furniture and home decoration mall SB Design Square, has introduced a Home Décor Campaign combining an SCB Multi-purpose Home Loan & Free Furniture Topup at SB Design Square. Customers spending a minimum of 100,000 baht at SB Design Square can get free furniture items worth 10,000 baht in total on top when they choose to pay with an SCB multi-purpose home loan.
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SCB Senior Executive Vice President, Chief of Retail and Business Banking, Ms. Auraratana Jutimitta said that the economic outlook in the second quarter is becoming increasingly challenging due to inflation. As a result, people are more careful about their spending, particularly for big-ticket assets such as housing. However, this year the burdens of homebuyers have been relieved thanks to the temporary easement of regulatory loan-to-value (LTV) measures for home loans and other home-related loans. Consumers buying a first home worth up to 10 million baht can apply for a home loan amount at 100% of the collateral value, plus a multi-purpose home loan (top-up) by 10% throughout this year. Amid the current inflation, home loan product development demands value deals to best respond to the needs of real-demand consumers and to be in line with sustainable financial business practices.
SCB has therefore extended partnerships across home-related industries to strengthen the business system and meet consumer demands. The recent partnership between SCB and leading furniture and home decoration mall SB Design Square has created a Home Décor Campaign combining an SCB Multi-purpose Home Loan & Free Furniture Topup at SB Design Square for SCB home loan clients, to help them manage their liquidity with a top-up loan and cut home décor shopping expense with a value offer.
“SCB has noticed the on-going trend of working from home and more consumer interest in home decoration. Those buying their first home need money for purchasing quality home décor items, and now they can apply for a top-up loan to help them with that. Our partnership with SB Design Square aims to provide better client care and support through SCB home loans and multi-purpose loans. Clients can afford quality home décor items, while SCB can expand its multi-purpose loan client base. At present, the number of SCB home loan clients applying for a multi-purpose loan is still low, but there is the potential for quality growth driven by campaigns with our business partners, including the latest Home Décor Campaign combining an SCB Multi-purpose Home Loan & Free Furniture Topup at SB Design Square.”
SB Furniture Group Executive Vice President Phidet Chawaldit noted that the furniture market in Thailand is recovering this year. One positive factor is an obvious change in consumer behavior, with customers looking for furniture items to suit their lifestyles and at the same time boosting the home ambience. This is because they are spending more time at home, including working from home and family activities. SB Design Square has always been committed to product and service development and business partnerships to answer every customer need, while delivering an enjoyable shopping experience to home décor consumers and boosting the brand image of one-stop Home Design Solutions.
The latest Home Décor Campaign combining an SCB Multi-purpose Home Loan & Free Furniture Topup at SB Design Square is a partnership between SB Design Square and SCB, representing the first campaign across the furniture and multi-purpose lending markets. This campaign particularly focuses on retail consumers and personalized marketing. Under the terms of the campaign, SCB home loan clients can enjoy special offers for value shopping at SB Design Square. We have a wide range of product lines to suit different consumer lifestyles. Zelection Built-in offers the freedom of luxurious and unique interior designs.
Condo Solutions are for quick and convenient condominium interior and infrastructure solutions. We also have furniture items ranging from such styles as modern, vintage, luxury, American, minimal, Scandinavian, and industrial lofts from global brands like Habitat, Laura Ashley, Universal, and more. Our latest service team is Arterior Zeries, to offer complete design interior advisory and even more solutions, from built-in furniture, infrastructure, interior design, to the selection of electric appliances. All these customized designs are presented in 3D visuals to provide customers with an overview of harmonious interior design and lifestyles. We hope our solutions can cater to current consumer behaviors and interests and amply boost the company’s income this year.”
As for the Home Décor Campaign combining an SCB Multi-purpose Home Loan & Free Furniture Topup at SB Design Square, customers spending a minimum of 100,000 baht at SB Design Square can get free furniture items worth 10,000 baht in total on top when they choose to pay with an SCB multi-purpose home loan. The campaign runs until December 31, 2022. For more information, please visit https://bit.ly/3wBAXbX.
