Standard Chartered Personal Loan

 

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Standard Chartered CashOne , Pinjaman Peribadi
No guarantor and collateral needed
Quick approval
RM 1,000 to RM 150,000 of financing available
Maximum 5 years repayment
Lowest 0.75% monthly interest rate

CashOne

CashOne is unsecured where it does not require any any collateral or guarantor. This loan is not Shariah compliant. CashOne gives finance up to 4 times the customer’s monthly salary. Repayment period of the installment is from 12 months (1 year) to 60 months (5 years) and the interest rates are as low as 0.75% per month. This would amount to 9% p.a. flat rate. 

Applicant will also have the choice to link their CashOne to their credit card limit. For any repayment that is repaid will be converted into credit card limit. Successful applicants will also get to enjoy up to 5 years free annual fees for their Platinum Credit Card.

Fees

There are no processing fees required while late repayment are charge 1% p.a. on a daily basis. Applicant can fully settle the loan before the end of loan tenure based on certain terms and conditions.

Eligibility

An applicant can be a Malaysian citizen or foreigners aged 21 to 65 years old with a minimum monthly salary of at least RM2,000 per month.

Repayment

An applicant must open account with the bank before they could done their repayment. Monthly repayment is via a standing instruction.

Document

Employed

  1. A copy of MyKad (front and back)
  2. Most recent payment slip
  3. Most recent bank statement
  4. Most recent EPF statement
  5. Most recent BE form (income tax)

Self-employed

  1. A copy of MyKad (front and back)
  2. Company registration form
  3. Most recent 6 months bank statements
  4. Most recent BE form (income tax) with receipt to IRB

Repayment Table

SC Personal Loan repayment table

Pros

Among the privileges that a customer could get from this loan package includes

  • Customers don’t have to pay their Platinum credit card annual fee.
  • No lock in period (can overlap) but customers have to send a notice prior a month for the bank to release a settlement letter.
  • Every time a customer paid their monthly installments, their credit card limit will increased according to the amount that they have paid. This could help if they needed some emergency cash or they have out of money in any months albeit it may also be a double edge sword.

 

Quick Cash EDGE

Standard Chartered Quick Cash Edge 
No guarantor and collateral needed
Quick approval
RM 1,000 to RM 250,000 of financing available
Maximum 5 years repayment
Lowest 0.583% monthly interest rate

 

Personal loan scheme called Quick Cash is for employee working for the government or private sector as well as self-employed workers. Minimum amount for the finance for the loan is RM2,000 while the maximum amount is RM150,000 or 5 times the customer’s monthly salary. Minimum tenure for the loan is 12 month (or a minimum of 24 months if the loan amount is less than RM15,000) while the maximum tenure is 60 months (5 years). The interest rate is based on the flat rate up to 0.88% per month, according to the salary, amount and duration of the finance. Customers will be charged a late payment penalty up to 1% from the outstanding amount. This loan package doesn’t need any collateral or guarantor.

Fees

There are no processing fees and early settlement penalties for Quick Cash Edge. There is a 1%p.a. penalty fees for late repayments.

Personal Financing-i

Standard Chartered Personal Financing-i is a fully Islamic compliant loan that is based on Shariah concept. It operates on commodity trading concept. This loan is also requires no collateral and guarantor.

History

Standard Chartered is an international banking group with an extensive network of over 1700 branches and also branches in more than 70 countries in Asian Pacific, South Asia, Middle East, Africa, United Kingdom and America regions. Standard Chartered started its operation in Malaysia in 1875 when its first branch is opened for business in Beach Street, Pulau Pinang. The bank has been incorporated locally as Standard Chartered Bank Malaysia Berhad on 29 February 1984. As the first and oldest bank in this country with over 140 years of history, Standard Chartered up to this day has over 40 branches with 7,000 workers throughout the country.

Today, customers are seeking the personal loan offered by the bank as a deposit for new home, chances, business investment, pursuing studies, settling credit card debt or home renovation. No matter the reasons, the personal financing gives the customers additional finance and freedom to do more than they could think with the loan.