Standard Chartered CashOne

Overview

Standard Chartered CashOne is an unsecured personal loan exclusively for Standard Chartered Platinum Credit cardholders and this is because any monthly repayment that you will be doing for your personal loan will be converting into your credit card limit. It is a personal loan plan that is attached with your current existing Standard Chartered Platinum Credit Card. This personal loan does not have any minimum and maximum loan tenure therefore it is all depending on how long you use your credit card. The approval duration for this personal loan is up to 7 business days and the best part about this personal is that there are no any processing fees, no disbursement fee and no early settlement penalties but point to be noted here is that there will be a stamp duty fee of 0.5% on loan amount and also late payment charges of 1% on outstanding loan amount.

On top of that you will are not required to have any guarantor or collateral in order to apply for this application. You are also entitled to enjoy a fixed interest rate of 6.99% up to 13.00% per annum. You may finance a minimum amount of RM1,000 up to RM150,000 or up to 5x your fixed monthly salary. To be eligible to apply for this loan, you will need to be at least 21 years old with a minimum monthly salary of RM3,000. You will also need a good credit record (CTOS/CCRIS), which means all of your overdue payments for all other commitments should be settled off.

Standard Chartered CashOne FAQ

What is the maximum amount you can borrow?

Borrowable amount of up to five times your fixed monthly gross salary or RM150,000.

The catch?

Applicant must be between the age of 21 to 65 to qualify.

Opening of a linked bank account is compulsory.

What will it cost you and how will you be charged?

One time set-up fee:

Stamp duty of 0.5% on loan amount to be deducted upfront before loan disbursement. No other set-up fees need to be paid.

Recurring payments:

Monthly repayment comprising principal amount and interest charge via monthly Savings Account deduction. The principal portion of each monthly repayment will increase the credit limit of your Standard Chartered Platinum Credit Card by the same amount.

Penalties:

Late payment charges of 1% of outstanding loan amount. Late payment charges will increase your total outstanding loan amount.

No early settlement penalty imposed.

How long will the application take and what documentations are required?

Upon completing an application with iMoney, our representative will contact you within the same business day to confirm your application.

Thereafter, Standard Chartered will require an average of seven business days (not including Saturday, Sunday, and public holidays) before approval or disbursement.

You are required to furnish the following documents for your loan application:

Salaried applicant:

• Copy of NRIC (front and back)
• Any of the documents below (choose one):
• 1 month (most current) salary slip AND 1 month (most current) bank statement
• EPF statement (most current)
• BE form with tax payment receipt attached (most current)

Self-employed applicant:

• Copy of NRIC (front and back)
• Any of the documents below (choose one):
• 6 months (most current) bank statements AND form 9, 24, 49 or Business Registration Certificate
• EPF statement (most current)
• B form with tax payment receipt attached (most current)

Applicant earning commission:

• Copy of NRIC (front and back)
• Any of the documents below (choose one):
• 1 month (most current) salary slip AND 1 month (most current) bank statement
• EPF statement (most current)
• BE form with tax payment receipt attached (most current)

Can you apply if you have a bad CCRIS/ CTOS/ Credit Record?

No, you are required to settle all overdue payments before applying. It is advised that you continue repaying your loans on time for another three months before reapplying.

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

Alliance Islamic Bank CashVantage Personal Financing-i

With Alliance Islamic Bank CashVantage Personal Financing-i, the personal loan comes with an fixed interest rate starting from 10.38% p.a. This personal loan has a maximum tenure of 7 years. It also comes with a minimum income requirement of RM2,000.

Citibank Personal Loan

With Citibank Personal Loan, the personal loan comes with an floating interest rate starting from 9.40% p.a. This personal loan has a maximum tenure of 5 years and approval duration of 30 minutes. It also comes with a minimum income requirement of RM4,000.

RHB Personal Financing

RHB Personal Financing has a flat interest rate starting from 8.18% p.a. The maximum tenure for this personal loan is 5 years. It also comes with a minimum income requirement of RM2,000.