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Abstract:
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This study aims to examine factors and behavior related to the decision of Krungthai Bank’s employees to use welfare loans provided by the Bank for its employees. The relevant information was collected from totally 241 KTB’s employees working in Chiang Rai Province that can be distinguished into 197 individuals that used the welfare loans and 44 individuals that did not use. The analysis was undertaken based on descriptive statistics and the results of Likert’s scale rating to prioritize factors affecting the decision of KTB’s employees to use the welfare loans offered to them.
From general background information, the study found that the majority of welfare loan users were characterized as female, single, 36 years old on the average, with bachelor’s degree education, having been working with KTB for 12 years on the average, and holding the present position ranging from officer, division head, to administrator. The most important factor for them to take the welfare loans was price for the attributes of low interest rate and exemption from paying loan application fee. The second most important factor was products for the reasons of loan types being compatible with the need and diversity of loan types. The third most important was the factor of process in terms of speedy loan approval procedure and the suitable requirement for documents to be used in loan application.
Three types of welfare loan have been made available for KTB’s employees to use. The first is welfare assistance loan which can be borrowed without paying interest.Most KTB’s employees in Chiang Rai Province utilized this type of loan for buying smart phones and financing their master’s degree education. The second type is low interest loan that 68 % of KTB’s employees in Chiang Rai borrowed for buying housing at the average loan limit of 1.63 million baht per person, followed by 18 % who borrowed for buying car/motorcycle at the average loan size of 413,937 baht per person. The third type is special welfare loan like Krungthai Tanapat loan which was borrowed by 54.70 % of the loan users and the average borrowing was 404,130 baht per person.
Among those KTB’s employees in Chiang Rai Province who did not use the welfare loans, they can be generally described as female, single, averagely 30 years old, with bachelor’s degree education, having been working with KTB for 6 years on the average, and holding the present position as bank officer. Their reasons were that they had no need to use the loans (90.91 %), and that the loan limit was not adequate to meet their need (9.09 %). However, most of them indicated that in the next two years, they would probably apply for welfare loans that KTB provides for them.
Keyword: Welfare Loans, Krung Thai Bank, Krung Thai Bank’s Employees, Chiang Rai Province
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