Bank loans in Cambodia

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Member since 30 May 2013

PriscillaViP22 August 2018 09:42:32

42358

Hello,

Finances and banking can sometimes be a headache for many expats, especially when it comes to taking out bank loans.

Is it difficult for an expat to get approved for a bank loan in Cambodia?

What are the types of bank loans available for expats (mortgage/bonds; business loans; car loans; personal loans; student loans)?

What are the general conditions for expats to take out bank loans (interest rates; timeframe to repay loans, etc.)?

Which bank in Cambodia is the most popular or accessible for expats regarding loans?

Would you normally require the services of an accounts manager at the bank in order to facilitate the process of taking out a loan? Is this service free of charge?

What would happen in the case of an unpaid loan if you have to repatriate back to your home country or move somewhere else?

Are there any other options for loans aside from the bank in Cambodia, such as taking out a loan from your bank in your home country, or other types of companies not affiliated with banks, that give out loans?

Thank you for sharing your experience.

Priscilla

David2018 Member

Member since 09 February 2018

David2018Member27 August 2018 06:40:23

I recently got a car loan here in Cambodia.

In general get bank loan in Cambodia as expat is difficult, the only way I could did it was by having a Cambodian who support my application.

The local person will just sign with you all documents and will be the guarantor for the loan, (for this is so difficult find someone) I asked one of my staff to help me with that.

The documents they asked:

- Passport
- Biz Visa
- Work permit
- Bank Statement
- Salary Certification
- Company and immediately boss recommendation (They will visit your work place)

Thank you!

hr.dazhou Member

Member since 28 June 2018

hr.dazhouMember28 August 2018 02:05:23

Dear all

@ Cambodia not only Bank can doing loan....

Cambodia got more than 70 Microfinance company are doing loan service.

Can get the loan via microfinance company is much easier than bank.

David2018 Member

Member since 09 February 2018

David2018Member28 August 2018 02:40:48

As expat is not that easy, even with micro finance, or did you have different experience?

garytogary Member

Member since 13 January 2018

garytogaryMember28 August 2018 20:52:30

Hi my advice as a expat who has lived in Thailand and Cambodia (love Cambodia and the Khmer people) for the last 20 odd years on and off. is this, make your money in your own country it will be a lot easier and only bring over what you can afford to lose.
i seen so many, many, expats go home without the shirts on there back to a cold dark bedsit all because they had good intentions.
It could have happen to me, I built a house and made a business but I only spent what I could afford to lose and had a great time doing so. Ha, ha enjoy, enjoy but remember always look after your future because when the chips are down, your be on your own. Take care and enjoy

Apokalis Active member

Member since 19 June 2017

ApokalisActive member10 September 2018 22:45:56

I don't understand what you mean by "what you can afford loose", this sounds more like you are going to be taken advantage of. Also it could mean that businesses are crooked and dishonest and to me that doesn't appeal to any consumer there.
"What you can afford to loose" sounds like is not even worth to even move or do business there.
There's got to be a way because businesses can not afford to "loose face" even if they are dealing with Ex-pats.

byst85 Member

Member since 12 December 2018

byst85Member12 December 2018 06:01:21

David2018 wrote:
I recently got a car loan here in Cambodia.

In general get bank loan in Cambodia as expat is difficult, the only way I could did it was by having a Cambodian who support my application.

The local person will just sign with you all documents and will be the guarantor for the loan, (for this is so difficult find someone) I asked one of my staff to help me with that.

The documents they asked:

- Passport
- Biz Visa
- Work permit
- Bank Statement
- Salary Certification
- Company and immediately boss recommendation (They will visit your work place)

Thank you!

Hi David,

I am also an expat in Cambodia, seeking a car loan. It is indeed difficult. May I know the bank which offered you the eventual loan?

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