Standard Chartered Bank offers three exclusive Standard Chartered home loan packages which includes standard term loans and flexi packages. Conventional Housing Loan (basic term loan package) gives you a high loan eligibility of up to 40% of salary.
There are 2 main types of Standard Chartered home loan. MortgageOne, Standard Chartered’s full-flexi home loan package is an integrated financing plan that combines the home buyer’s savings account, current account and bank deposits. Deposit amounts are used to offset the outstanding balance on the loan account when calculating interest, ensuring that you maximise interest savings. This Standard Chartered home loan is only available for financing greater than RM300,000 for any types of secured residential properties. You can also use this Standard Chartered home loan for refinancing purpose. Standard Chartered MortgageOne has lots of awesome features that you may not want to miss out. Firstly, you will get a new credit card once you sign up for this Standard Chartered home loan. Next, you are allowed to pay at a lower instalment for the first 2 years. This means that you have extra cash to spend on your renovation with the unique Standard Chartered home loan. Another feature of this Standard Chartered home loan is the payment holiday option in which gives you a break on your monthly repayment.
Standard Chartered also offers a home loan product pegged to the 3-Month Kuala Lumpur Inter-Bank Offered Rate (KLIBOR) called MortgageKLIBOR. Despite the different benchmark interest rate used, final interest rates on this term loan package remains competitive with its other packages. Thus, you can potentially enjoy more savings if you take up this Standard Chartered home loan. By pegging to KLIBOR via this Standard Chartered home loan, there are no set-up fees, maintenance fees or any hidden charges.
Standard Chartered Home Loans have no lock in period, which means there are no restrictions on refinancing and property sale. Standard Chartered can offer you a margin of financing of up to 90% and long maximum loan tenure of up to 35 years (in accordance to the latest ruling by Bank Negara Malaysia) or upon reaching age 65, whichever is earlier.
Standard Chartered has a number of innovative home loan packages, the perks of which are highlighted here:
|Product||Key Features||Is this a flexi package?|
|Conventional Housing Loan||
Flexi home packages allow borrowers to make extra repayments every month in order to reduce their monthly interest charges. These packages come with requirements, fees and conditions that should be considered alongside their benefits.
|Is a linked bank account required?||Yes|
|Account Maintenance Fees||RM10 per month|
All Malaysian citizens above 21 years of age can apply for a Standard Chartered home loan.
If you have applied for a Standard Chartered Home Loan, you will be asked to provide some supporting documents in order for the bank to process your application. These documents are listed below:
You can use the Standard Chartered home loan calculator to calculate your monthly repayments, based on your desired property value and loan amount. Once you are ready to apply, you can make a free enquiry through iMoney, and we will call you back. Applying for a home loan with iMoney is absolutely free of charge. If you are not sure whether this home loan by Standard Chartered is your best option, click here to compare other home loans in Malaysia.
Here are some of the repayment methods for your Standard Chartered home loan.