Ngern Hai Jai Co., Ltd., a subsidiary of KASIKORNBANK FINANCIAL CONGLOMERATE, has announced the launch of its car title loan services under the “Ngern Hai Jai” brand. The company aims to democratize access to formal credit for individuals and households from diverse backgrounds. With its key features of accessibility, convenience and reliability, customers can easily apply for loans at any KASIKORNBANK branch or through the K PLUS mobile banking application. This service reimagines vehicle loans as a tool to unlock new opportunities, empowering customers under the motto, “With a car and a heart, possibilities are endless.” The company is preparing for an initial public offering (IPO) in 2026.
Ms. Chalarat Phinitbenchaphol, Chief Executive Officer of Ngern Hai Jai Co., Ltd., said that Ngern Hai Jai is committed to providing car-for-cash services to cater to the needs of customers with irregular income, small business owners, low-income households and salaried employees, especially those who are KBank customers. The aim is to offer these individuals easier access to formal credit, coupled with high-quality and secure services, which will empower them to seize more opportunities in life. Ngern Hai Jai adheres to a policy of extending high-quality new loans, combined with responsible lending practices, aligned with KBank's strategy of delivering sustainable value to all stakeholders and the aspiration to change the perception that accessing formal credit is difficult.
Currently, Ngern Hai Jai offers car-for-cash services, including loans with car title pledge and car title transfer, for both personal and commercial vehicles. Applications can be made at any of the 789 KBank branches nationwide, on the K PLUS mobile banking platform with over 22.9 million users, or at the www.ngernhaijai.com website. Customers of all occupations can apply for a loan, choose a repayment plan that suits their budget, and enjoy a simplified application process with fewer required documents if they are already KBank customers.
Ngern Hai Jai has reinvented its marketing strategy by considering cars as valuable assets that can be converted into capital. Moreover, Ngern Hai Jai has been established to help unlock new opportunities, with an emphasis on promoting brand awareness through a 360-degree communication strategy. This approach draws on shared stories and insights from target customers, including individuals without a steady income, freelancers, business owners, and salaried employees looking for new opportunities or expanding their businesses through online ads. Additionally, Ngern Hai Jai has leveraged outdoor advertising, on-ground events in strategic areas, and influencer channels to effectively reach its target audience across both online and offline platforms.
The overall car title loan market, including bank and non-bank lenders, is expected to continue growing. According to KASIKORN RESEARCH CENTER (KResearch), this market grew by 25.3 percent YoY as of the end of the second quarter of 2024, down from the 36.2-percent growth reported at the end of the previous year. However, the company sees steady growth in this market, especially from over 3 million customers of KBank who own cars but have never taken out a loan. This group may need capital or revolving funds for essential expenses, making “Ngern Hai Jai Car-for-Cash" a viable option for them and for other customers needing funds to brace for a slow economic recovery and more uncertainty in their income streams. Ngern Hai Jai is preparing to enter the stock market in 2026, focusing on issuing high-quality new loans.
*Please carefully consider your needs and repayment ability.
For loans with vehicle registration book transfer, fixed interest rates are charged at 3.10%-15% p.a.
For loans with vehicle registration book pledge, effective rates are charged at 12.82%-24% p.a.
**According to the Bank of Thailand's Notification No. SorKorChor. 7/2566 Re: Regulations on Responsible Lending, service providers must create and control advertisements with content that is “accurate and clear," “comprehensive and allows for comparison of terms, interest rates, and fees" and “does not encourage excessive borrowing." This is to ensure that customers receive and sufficiently understand necessary information from advertisements to make informed decisions on using products, and to promote financial discipline.
NGERN HAI JAI Co., Ltd. requests cooperation from media outlets in disseminating press releases that mention loan repayments/disbursements and installment payments. Please ensure that any warnings included in the news are accurate and in accordance with the Bank of Thailand's guidelines. The company would like to thank all media outlets for kindly including the information with reference to the guidelines.