Monthly condo installment in Thailand, real payment figures and how to calculate your own

Key Highlights

• A 1 million baht loan over 30 years costs roughly 3,977 baht a month at 2.55 percent and roughly 6,321 baht a month at 6.5 percent, calculated with the standard fixed instalment formula
• Thai promotional rates run for the first three years only, after which the loan switches to a floating rate tied to each bank's MRR, and the payment typically jumps by around 50 percent
• A 2 million baht unit with 10 percent down over 30 years costs roughly 7,579 baht a month for the first three years and roughly 11,377 baht a month after that
• Foreign buyers face a different set of numbers. Thai banks that lend to non-residents typically cap the loan at 50 to 70 percent of appraised value over 25 years, so the same unit needs a much larger cash contribution
• The Bank of Thailand extended its LTV relaxation on 14 May 2026, keeping the loan-to-value ceiling at 100 percent for contracts signed between 1 July 2026 and 30 June 2027

What does a monthly condo installment depend on?

Your monthly condo installment depends on three numbers and nothing else. The loan amount, the interest rate, and the number of years. As a working shortcut, every 1 million baht borrowed over 30 years costs somewhere between roughly 4,000 and 6,700 baht a month. The bottom of that range is the promotional rate that applies for the first three years. The top of it is the floating rate that applies for the remaining twenty seven.

That two-stage structure is the single most important thing to understand about Thai home loans, and it is the part most buyers coming from other markets miss. A quote of 7,500 baht a month is real, but it is real for three years. Every figure in this guide is therefore shown as a pair, promotional and floating, because the second number is the one you will live with for most of the loan.

Is the 7,000 baht per million rule reliable?

Thai buyers commonly budget 7,000 baht a month for every million baht borrowed. KTC explains that this figure assumes a 30 year term, a 5 percent interest rate, and a debt burden capped at 40 percent of income, split into roughly 2,800 baht of principal and 4,200 baht of interest.

The shortcut is deliberately conservative. Run the same assumptions through the actual formula and the payment is 5,368 baht per million, not 7,000. The extra 1,632 baht is a buffer built in against rising rates. Treat 7,000 baht per million as a ceiling when you are asking whether you can afford something at all, and use the calculated figures below when you are planning month-to-month cash flow.

How do you calculate your own installment in two minutes?

Banks use the standard fixed instalment formula. The payment equals the loan multiplied by i, multiplied by (1 plus i) to the power of n, divided by (1 plus i) to the power of n minus 1, where i is the annual rate divided by 12 and n is the total number of monthly payments. In a spreadsheet, the PMT function gives the same answer.

Number one, the price and the cash you can put down

The loan is the price minus your down payment. For Thai borrowers, the Bank of Thailand has kept the loan-to-value ceiling at 100 percent for contracts signed between 1 July 2026 and 30 June 2027, extended by one year in its announcement of 14 May 2026. That means a Thai buyer can borrow the full price on paper.

Borrowing the maximum is rarely the right move. A 2 million baht unit financed in full over 30 years at a floating 6.5 percent costs about 12,641 baht a month. With 10 percent down the payment falls to about 11,377 baht, a difference of 1,264 baht a month and roughly 455,000 baht across the full term. Every baht of down payment buys back monthly breathing room.

Number two, the first three years and everything after

Data compiled by AP Thai and updated on 13 August 2026 puts average first three year rates at 2.55 percent for the Government Housing Bank and Government Savings Bank, 2.65 percent for Siam Commercial Bank and Bank of Ayudhya, 3.10 percent for ttb, 3.13 percent for Krungthai Bank, 3.18 percent for Kasikornbank, and 3.55 percent for Bangkok Bank.

For the floating stage, the commercial bank lending rate table published for 7 August 2026 and reported by InfoQuest lists MRR at 6.50 percent for Bangkok Bank, 6.575 percent for Siam Commercial Bank, 6.58 percent for Kasikornbank, 6.67 percent for Bank of Ayudhya, 6.845 percent for Krungthai Bank, and 7.105 percent for ttb.

Those two sources disagree on MRR for some banks. Krungthai appears at 6.30 percent in one and 6.845 percent in the other. So do not build a decision on any published figure, including the ones in this article. Ask the loan officer at the bank you will actually apply to for a written offer sheet, then read two lines on it, the average rate for the first three years and the formula that applies afterwards, expressed as MRR minus a stated margin.

Number three, the loan term

Term has the largest single effect on the payment. A 1 million baht loan at 6.5 percent costs 11,355 baht a month over 10 years, 7,456 baht over 20 years, 6,321 baht over 30 years, and 5,855 baht over 40 years.

Stretching from 10 to 20 years saves 3,899 baht a month. Stretching from 30 to 40 years saves only 466 baht, while total interest keeps climbing. A 40 year term makes sense when you need it to clear an income test, not as a default choice.

What are the monthly payments on 1 to 5 million baht units?

The figures below assume 10 percent down, a 30 year term, 2.99 percent for the first three years, and 6.5 percent after that. Both rates sit inside the range Thai banks were publishing in August 2026, but they are assumptions used to show the method rather than an offer from any one bank.

The pattern worth noticing is that the step up in year four is about 50 percent at every price point. It comes purely from the rate difference, so it does not scale with the size of the unit. A buyer of a 3 million baht unit needs to plan for an extra 5,697 baht a month from the day they sign, not from the month it happens.

What do foreign buyers pay differently?

Everything above describes the Thai resident path. If you are buying on a foreign passport, three things change the arithmetic, and none of them appear on a developer's payment table.

• Financing is harder to get and smaller. Lenders that serve non-residents typically cap the loan at 50 to 70 percent of appraised value with terms up to 25 years and a minimum loan around 3 million baht, according to a foreigner mortgage guide published on 10 April 2026. A 5 million baht unit at a 50 percent loan over 25 years at 6.5 percent means about 2.5 million baht in cash plus roughly 16,880 baht a month
• The property must sit inside the 49 percent foreign freehold quota of the building, which narrows the pool of eligible units before price is even discussed
• The reduced transfer and mortgage registration fees of 0.01 percent each, available until 30 June 2027 on contracts up to 7 million baht, apply to Thai national individual buyers, so a foreign buyer should budget the standard 2 percent transfer fee and 1 percent mortgage registration fee instead

There is a practical upside to being a cash-heavy buyer in this market. Because your offer does not depend on a loan approval that can fall through, you are negotiating from a stronger position on a resale unit than a buyer whose timeline is set by an underwriter. That is worth raising explicitly when you make an offer, since sellers price certainty.

Besides the installment, what else do you pay every month?

Sales staff answer the question of monthly cost with the instalment figure alone. That is accurate but incomplete. Owning a Thai condo carries at least four recurring costs.

Added together, a 35 square metre unit priced at 3 million baht costs roughly 2,000 to 3,000 baht a month more than the instalment alone. That total is the number to budget against.

How much installment is considered safe by Thai banks?

Thai lenders assess the debt service ratio, the share of your monthly income consumed by every loan payment you carry. The market convention is a cap of 40 percent for salaried applicants, and every means every, including car payments, credit cards, and personal loans, not just the mortgage.

Translated into a figure you can use, an 1,800,000 baht loan to buy a 2 million baht unit with 10 percent down costs about 11,377 baht a month at the floating rate. Divide by 40 percent and the income implied is about 28,443 baht a month, assuming no other debt at all.

Here is the trap. Some lenders test affordability against the promotional payment rather than the floating one, which means an applicant can be approved on a number they will stop paying after three years. The check you can run yourself is to divide the floating stage payment by your own income. If it clears 40 percent, the unit is too expensive for you regardless of what the bank approves.

How do you lower a condo installment in practice?

These are ordered by effect relative to effort. The first is available before you sign, the last only after two or three years of payments.

• Increase the down payment. Every additional 100,000 baht cuts the monthly payment by about 632 baht at 6.5 percent over 30 years, and roughly 127,000 baht of interest across the full term
• Compare written offers from several banks. The gap between the lowest and highest average first three year rate in the same data set is a full percentage point, which on a 2 million baht loan is tens of thousands of baht over those three years
• Make principal prepayments during the first three years, while the rate is at its lowest, and instruct the bank in writing to apply the money to principal rather than treating it as an advance on future instalments
• Refinance when the contract allows it, usually after three years, which is exactly when your rate is about to step up. Check the prepayment penalty clause in the original contract first

Frequently asked questions about condo installments

How much is the monthly installment on a 2 million baht condo

With 10 percent down the loan is 1,800,000 baht. Over 30 years that costs about 7,579 baht a month for the first three years at 2.99 percent, then about 11,377 baht a month at a floating 6.5 percent. Financed in full at 2 million baht, the same loan costs about 8,421 baht and then about 12,641 baht. All figures come from the fixed installment formula, and your actual rate depends on the offer you receive.

Can a foreigner get a mortgage for a Thai condo

Yes, but on narrower terms. Guidance published on 10 April 2026 describes lending to non-residents at 50 to 70 percent of appraised value, terms up to 25 years capped at age 65, a minimum loan of about 3 million baht, and eligibility limited to freehold units inside the 49 percent foreign quota. A Thai work permit and a local tax record materially improve the odds. Many foreign buyers still choose to pay cash or arrange financing in their home market instead.

What is the monthly payment per million baht borrowed

Over 30 years, a 1 million baht loan costs about 3,977 baht a month at 2.55 percent, about 4,774 baht at 4 percent, about 5,368 baht at 5 percent, and about 6,321 baht at 6.5 percent. Over 25 years at 6.5 percent it is about 6,752 baht. The widely quoted 7,000 baht per million already includes a safety margin and works better as a ceiling than as a forecast.

Does the payment always rise after the first three years

It depends on your contract. Some banks hold the instalment steady and extend the number of payments instead. Others raise the instalment to match the new rate. Both increase total interest, and the difference is only whether the burden lands on monthly cash flow or on the calendar. Ask the officer directly whether the installment on this contract changes after year three, and ask them to point to the clause that says so.

Do principal prepayments really reduce interest

They do. Thai home loans charge interest on the declining balance, so money applied to principal lowers the base used for every remaining payment. The condition is that the bank must record it as a principal reduction, so check the next statement and confirm the outstanding principal fell by the amount you paid.

Summary

There is no single answer to what a monthly condo installment costs, only a pair of figures, the promotional payment and the floating payment. Budget against the second one, add roughly 2,000 to 3,000 baht a month for common area fees and utilities on a standard sized unit, and check that the total stays under 40 percent of your income. If it does, the unit is genuinely within reach.

Three things you can do today. Calculate your own payment ceiling from your income before you view anything, rather than viewing first and working backwards. Collect written rate offers from at least three banks so you can compare both the first three years and the formula that follows. Then open the Bangkok condos for sale listings and filter by the budget you just calculated, so you can see what that number buys and where.

PropertyScout is free for buyers and tenants, and our property consultants work with you in your own language from the first viewing through to transfer day. Browse verified listings to get started.

Prices and availability change and are not guaranteed. Property information is general guidance only. Interest rates and lending conditions change constantly and remain at each bank's discretion. This content is not legal, tax, or financial advice.

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