Standard Chartered Bank offers the Conventional Housing Loan scheme that helps you buy the house of your dreams irrespective of your current income. This loan is offered at variable interest rate. .
|Loan Type||Term Loan.|
|Interest Rate Type||Variable.|
|Loan Tenure||Up to 30 years, or 65 years old, whichever is earlier.|
|Finance Margin||Up to 90%.|
|Stamp Duty||As per the Stamp Duty Act 1949 (Revised in 1989).|
|Processing Fee||Loan Amount within RM30,000: RM50. Loan Amount between RM30,001 to RM100,000: RM100. Loan Amount above RM100,000: RM200.|
|Cancellation Fee||If the bank bears the legal fee, validation fee, or stamp duty, then cancellation fee is 2.25% of the total loan amount. If you bear the legal fee, validation fee, or stamp duty, then cancellation fee is 0.5% of the total loan amount.|
|Common Mandatory Documents||
You can afford to own a home in Malaysia with the Standard Chartered Conventional Housing Loan. Read the fine print of the loan agreement document so you do not miss out on any information related to the facility.
Q. How often is the profit calculated?
A. The profit calculations are carried out once every month when it comes to a term loan.
Q. Should I buy an insurance?
A. Yes. You are required to buy a mortgage reducing term assurance along with a fire insurance to protect your home.
Q. What happens if I fail to pay my monthly instalments?
A. If you fail to pay your monthly instalments, one or more of the following may happen:
Q. What is the loan amount I am eligible for?
A. The loan amount is subject to the criterion that the repayment amount must be within 40% of your monthly salary.
Q. What are the other home loan products offered by the bank?
A. The other home loan products offered by the bank are MortgageOne, MOA, Saadiq My Home-i, and Saadiq My HomeOne-i.