Standard Chartered Quick Cash EDGE

The Standard Chartered Quick Cash EDGE

Best for: Those who are looking for a simple and easy unsecured personal loan with no guarantors and collaterals required for a short period of time.

Income requirements: Open for those who are earning and above RM 36,000 a year

Pros: No guarantor or collaterals required

• How to apply for a Standard Chartered Quick Cash EDGE personal loan?

  You can apply for the loan here.

• What is the interest rate?

  The Standard Chartered Quick Cash EDGE is based on a fixed interest rate (flat) starting from 0.583% per month. The final approved interest rate is subject to the bank’s approving criteria.

• What is the maximum loan amount?

  Standard Chartered Quick Cash EDGE personal loan has a loan amount that 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.

• 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 Quick Cash EDGE is 84 months (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 60 months (5 years). The minimum loan tenure is 12 months (1 year). 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 Quick Cash EDGE does not charge a processing fee or early settlement fee. However, they require at least 1-month prior notice in writing.

• 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 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 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 happens if you make late payments?

  A late payment fee of 1% per annum will be charged upon the amount due.

• Can I do early settlement with the Standard Chartered Quick Cash EDGE personal loan?

  Yes, you may do an early settlement with the Standard Chartered Quick Cash EDGE personal loan.

• 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 have a 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
     • 6 months company bank statement, and Suruhanjaya Syarikat Malaysia validity of 60 days
     • Selected side income documents i.e., Commission income

• Can I apply even if I'm blacklisted?

  No, you may not apply for the loan if your name is blacklisted.

• 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.