Life in Thailand Poll No.2 (Financial discrimination)

[Super Joe]

The discrimination being discussed by the bank is not being read properly. The method of interest applied to the mortgage is 1.30% for doctor group. MLR MINUS 3.125% for the others. The current MLR is 7.25%. In year 2 and 3 the doctor group pays MLR -0.75% and for the rest of the loan term whilst the others pay MLR -1.25% and after year 3 MLR -0.25%.
Although there seems to be a big difference over the term of the loan it is in fact quite small.
The banks in my experience are no different to banks anywhere and will offer incentive and higher interest rate to customers who place more money with them regardless of race. The banks only see the colour of your money Even in banks here I have found there is some manager discretion allowed for in published rates and discounts are possible.

Yes you're right I read that 1.30% as being MLR(7.25%)-1.30%, ie: 5.95%, it's infact a discounted rate of just 1.30% for doctors. And the difference in rates between the special priviledged folk and us plebs is greater than I thought, if I'd put the whole chart up below then the plebs are only entitled to those rates when they borrow over 5 million Baht, the doctor group get the rates when borrowing just 1 million Baht, which translates into...
- Farmer buys 4m Baht property interest rate of 7.25% after year 3.
- Doctor buys next door for 4m Baht and pays only 5.45%.

And then if you look at the blue circled number there's even discrimination and dual pricing between rich and poor, so us foreigners are being given preferential treatment over the majority of Thais because we buy expensive property...
- Market vendor driver buys property under 1m Baht and pays interest of 8%.
- Foreigner buys property for 5m Baht and pays only 5.5%.

- Market vendor's wife (with market vendor as guarantor) buys property under 1m Baht and pays interest of 8%.
- Foreigner's Thai wife (with foreigner as guarantor) buys property for 5m Baht and pays only 5.5%.

Johhny foreigner gets a whopping discount of 2.5% over the course of his mortgage. Dual pricing indeed. So will all the farang's outraged by Thailand's racist and xenephobic dual pricing and financial discrimination be rushing back down the bank to 'do the right thing' and ask for their mortgage to be adjusted so they can pay the additional 7.1m Baht in interest payments (2.5% of 5m over 30yrs, *depreciating money obviously*), or will they keep that 7m and continue in their racist and xenephobic ways...

Next time the market vendor over charges you 50B, just take it off your 7million

SJ

[PeteC]

Rather than starting a new thread, I'll insert this here, as it fits concerning double standards Thai on Thai.

The papers are filled these days about the new minimum wages Phua Thai has promised to implement. Talk about belly aching from manufacturers, some of which saying that entire industries will shut down, such as textiles in Issan, and foreign investors will stop investing.

I believe the meat of the subject is about going to 300 Baht minimum from what is now about 150-250 minimum depending upon area. At maximum, that's $5.00 PER DAY, not hour. Plus a minimum of 15,000 Baht per month as starting for a university graduate.

Concerning the daily wages, if these places can't improve productivity to the extent that each worker can't generate a measly $5.00 per day more, then they should shut down. I have a feeling that many of these fat cat companies don't even know what a productivity and efficiency study is, and have been riding the gravy train for way too long on the backs of the poorly paid workers. Look within you greedy bastards and I guarantee you'll find more than enough ways to give these workers a proper living wage! Pete

[hhfarang]

^ How do you think the Chinese have stolen 90% of the manufacturing that used to be done in western countries? They essentially run sweat shops.

[johnnyk]

Did the Chinese steal it, or did western companies rush offshore all by themselves? They only think in 90-day segments to bump the bottom line so the mucky-mucks can grab their bonuses before the company tanks.

[hhfarang]

Trade unions caused the move offshore... along with high taxation on companies, equal opportunity laws (read quotas), and stifling regulation by government (at least in the U.S.)

[PeteC]

This weeks lucky draw from the hat done last evening is sjpthsuk. This one will be No.3. Please try to have it posted it by Sunday morning. Thanks Pete

[PeteC]

This weeks lucky draw from the hat done last evening is sjpthsuk. This one will be No.3. Please try to have it posted it by Sunday morning. Thanks Pete

Unfortunately sjpthsik has failed to appear. Alternate draw from the hat by my little mistress of ceremonies this morning, is Margaret. All yours Mags. Pete

[charlesh]

Hhf I suspect that Gordon Gecko (aka GREED) might have had something to do with the move off shore not just unions! China like LOS is not a good place to do bizz in by the way. Even expat Chinese get ripped off and contracts dishonoured by the locals.

[PeteC]

OK, perhaps this is all too formal and organized. No more draws from the hat. Wide open now for anyone at anytime who wants to post up a topic. Pete