Standard Chartered CashOne

The Standard Chartered CashOne Personal Loan is a personal loan that is tied to a Standard Chartered credit card. Its interest rate starts from 6.99% per annum, or per year.

Best for: Those who are looking for a quick cash flow solution

Income requirements: Open for those who are earning RM36,000 and above a year

Pros: You will be issued a credit card with a shared credit limit as your CashOne personal loan.

• What is the interest rate?

  The Standard Chartered CashOne Personal Loan is based on a fixed interest rate (flat) starting from 6.99% per annum (or per year). The final approved interest rate is subject to the bank’s approving criteria.

• What is the maximum loan amount?

  Unlike the other conventional personal loans, Standard Chartered CashOne personal loan is assigned a credit limit. This credit limit is the combined credit limit of all your credit cards and existing personal credit facility with Standard Chartered. The loan amount can be as low as RM3,000 and up to RM250,000. It offers one of the lowest loan amounts you can borrow from a personal loan. However, the loan amount also depends on other factors like your income. The maximum you can borrow is up to 8 times your monthly gross salary or up to RM100,000.

• What is the maximum loan tenure?

  Loan tenure means how long you can take to repay the loan. The maximum loan tenure for Standard Chartered CashOne Personal Loan is 7 years if you are an existing Standard Chartered customer. However, if you are a new Standard Chartered customer, the maximum tenure you are eligible for is only 5 years. The tenure is subject to the bank’s approval.

• How do I qualify?

  Income: Your minimum salary must be at least RM3,000 per month, or RM36,000 per year.

  Age: If you are employed, you must be between the age of 21 and 60 to qualify for the loan. However, if you are self-employed, the maximum age is 65 years old.

  Other qualifying criteria: You must be a Malaysian citizen or a permanent resident to qualify.

• How long is the approval process?

  The bank can take up to 7 business days to process and approve your loan upon receiving all your information and documents. When you apply through iMoney, we will run an eligibility checker through our call centre consultant to advise you on your chances of approval.

• What are the fees and charges?

  Late payment charges: 1% on the outstanding loan amount. Late payment charges will increase your total outstanding loan amount.

  Other fees: Standard Chartered CashOne Personal Loan does not charge a processing fee or early settlement fee. However, they require at least 1-month prior notice in writing.

• How much do I have to pay monthly?

  Your monthly repayment is split equally over your loan tenure. This repayment is split into a payment of principal and interest.

  The lower your interest rate and the longer your loan tenure, the lower your monthly repayment will be. For example, if you are borrowing RM50,000 with an interest rate of 6.99% over 5 years, your monthly repayment will be around RM1,125.

  Use the personal loan calculator above to calculate your monthly repayment.

• How will the loan amount be disbursed?

  Upon approval, the loan amount will be credited into an approved account. You may use a Standard Chartered account or your accounts with other banks.

• How do I make my repayment?

  • Interbank GIRO (IBG)/Instant Interbank Funds Transfer (IBFT) via ATM or Internet Banking
  • From your Standard Chartered Current Account/Savings Account - Direct Debit or Standing Instruction
  • Over-the-counter or at the self-service terminals at any Standard Chartered Bank branch

• What are the required documents?

  Once you have completed your application with iMoney, you are required to provide the following documents for your application:

  1. If you are salaried employee:
     • Employees Provident Fund (EPF) statement from Standard Chartered Bank handheld device
     • Payslip
  2. If you are self-employed:
     • Latest Form B/ BE with LHDN payment receipt OR Business registration document from SSM with validity of 60 days
     • Selected side income documents
     • Commission income

• How long does it take for Standard Chartered Bank to approve their personal loan?

  The approval duration for this loan is up to seven (7) working days.

• How to pay Standard Chartered Cashone Loan?

  You can pay the Standard Chartered CashOne loan via Online Banking or Standard Chartered Mobile App.

  Visit here for the full list of available Digital Services.

• How fast can I get my money after applying for Standard Bank CashOne?

  If your Standard Chartered CashOne loan application is approved, the bank will disburse the money into your current Standard Chartered account/savings within seven (7) working days.

• Can I apply if I have a bad CCRIS/CTOS/credit score?

  Like most financial institutions, Standard Chartered Bank will check your credit history as part of their approval process. If you have some outstanding payments reflected in your credit report, you are required to settle all overdue payments before applying. It is recommended that you continue repaying your loans on time for another three months before reapplying.

  Check your iMoney CreditScore for free to find out how your credit health is.

• If you are looking for other personal loans, you may also consider

  Alliance Islamic Bank CashVantage Personal Financing-i

  If you are looking for an Islamic personal financing, the Alliance Islamic Bank CashVantage Personal Financing-i is a good option. It offers the same income requirement of RM3,000 and financing amount of up to RM150,000. You don’t need an Alliance Islamic Bank credit card to get this personal financing.

  RHB Easy-Pinjaman Ekspres

  If you have a problem meeting the minimum income requirement of RM3,000, you may consider the RHB Easy-Pinjaman Ekspres. The personal loan also comes with a minimum income requirement of RM1,500. However, it has a higher interest rate starting from 11.63% per annum, with the same maximum tenure of 5 years.