There are a host of benefits offered to you if you avail personal loan from Standard Chartered. Standard Chartered was the first bank to have opened its branch in Malaysia, in the year 1875. It has a network of around 40 branches and a staff of 7000 personnel who work across its centers in the country. The office is headquartered at Menara Standard Chartered, Kuala Lumpur.s
Standard Chartered is a renowned bank not just in Malaysia but almost all parts of the world. The bank has huge presence in the United State of America, Asia as well as Europe. The bank has been one of the torch-bearers for launching Islamic banking products and integrating them with mainstream banking.
You’re probably eligible for an Standard Chartered Bank Personal Loan if you are
At least 21 years old
Less than 65 years old
Salaried or self-employed
with regular income
Earn more than the minimum
Your Standard Chartered Bank Personal Loan amount eligibility is based on these factors
Minimum income required
Maximum allowed personal loan is RM 250,000
Installments of other loans lower
Increase your eligible Standard Chartered Bank Personal Loan amount by these steps
Pay off your credit card bills
Choose longer tenure loan up to 5 years
Documentation needed to apply for Standard chartered Bank Personal Loan
- 1.Copy of NRIC
- 2. Copy of latest three (3) months pay slip
- 3. Latest EPF statement
- 4. Employment Confirmation Letter
- 5.Other related documents
Standard Chartered Bank Personal Loan Interest RatesUpdated on 27 May 2017
|Minimum Income||RM 2,000|
|Guarantor Requirement||No Guarantee Required|
Why choose Standard Chartered Personal Loans
The British parent company, Standard Chartered deals in a variety of banking and financial products and services. The bank provides caters to corporates as well as individuals. The bank has an Islamic subsidiary to help in the growth and propagation of Islamic banking and to play a key role in innovations pertaining to this. Islamic banking is one of the key aspects of banking in Malaysia and the bank has thus capitalized successfully on the same.
Personal finance from Standard Chartered can be availed for a variety of financial purposes like wedding in the family, any urgent financial need, an exotic vacation and so on.
Types of Personal Loans offered by Standard Chartered
Here are a few types of personal loans along with their key features to help you select the most relevant Standard Chartered loan for your times of financial need.
Standard Chartered Quick Cash EDGE
- This is an unsecured personal loan offered by Standard Chartered Bank, Malaysia.
- The loan has an upper loan amount limit of RM1, 50, 000
- The maximum loan tenure applicable is up to 5 years
- An interest rate of 10.56% is applicable on the Standard Chartered Quick Cash Edge loan. This rate is also partially dependent upon the loan tenure and the loan amount.
- There is no processing fee charged by the bank for this loan
- Early termination fee is nil for the Standard Chartered Quick Cash Edge loan
- You need to earn a minimum of RM24, 000 and need to be at least 21 years of age to be eligible for this personal loan
- No guarantor is required to sign your application, just a few personal documents are enough to qualify you for the loan.
Standard Chartered Cash One
Cash one is Malaysia’s first loan that comes combined with a Platinum credit card. It provides you with financial ease and flexibility whenever required.
- You can avail a maximum loan amount of RM1, 50, 000 for a tenure of up to 5 years.
- The applicable interest rate is 10.8% per annum
- There is no processing fee or pre-payment fee involved.
- If you earn a minimum of RM36, 000 and are at least 21 years old and at most 60 years of age then you can avail this Standard Chartered personal loan
- The applicant need not necessarily be a Malaysian citizen, but should essentially be a Standard Chartered platinum credit card holder
- This personal loan comes with an added advantage of getting the loan amount increased by reducing the credit limit and increasing the credit limit of the card when you pay off a part of your personal loan
- The Platinum credit card annual fee is waived off for 5 years for individuals who avail the Cash One personal loan
Standard Chartered Personal Financing-i
- This loan by Standard Chartered personal financing confirms with the Islamic Banking standards and is an easy personal loan that comes with a low and attractive profit rate
- The maximum tenure for which this loan can be sought is 5 years and the maximum loan amount is RM1, 50, 000.
- This loan too like almost all personal loans does not require a guarantor and does not charge a processing fee
- The pre-payment fee also is nil and thus this loan can be closed early in case the borrower wants to
- The minimum yearly income of the applicant should be RM24, 000 and the age should be between 21 to 65 years.
How to Calculate Loan Installment for Standard Chartered Bank Personal Loan
Standard Chartered Bank is a leading provider of personal loans in Malaysia. If you want to apply for a personal loan from Standard Chartered Bank, then you can find out your tentative installment on bbazaar.my website. By entering details like rate of interest, desired loan amount and tenure, you can find out what is the required monthly installment. This information will help you decide whether you can afford the Standard Chartered personal loan or not. The amortization table that the Loan calculator shows can help you learn about the outstanding loan amount and the balance interest. These details are useful in planning your finances efficiently and in advance before going for personal finance. The input parameters like loan amount and tenure can be adjusted to reach that optimum value of loan installment which is most suitable to your monthly budget.
Standard Chartered Personal Loan FAQs
Q.What is the best feature of CashOne personal loan from Standard Chartered?
The best feature of CashOne personal loan from Standard Chartered bank is that every time you make a loan repayment, the paid amount is converted into a credit card limit for you to spend.
Q.Is CashOne personal loan from Standard Chartered unsecured?
No. CashOne personal loan from Standard Chartered is not unsecured. However, Quick CashEdge is an unsecured loan from Standard Chartered and does not require any collateral to be submitted.
Q.What is the maximum personal loan amount offered by Quick CashEdge?
The maximum personal loan amount offered by Standard Chartered under the Quick CashEdge scheme is RM 2,50,000.
Q.Do I have the freedom to choose my personal loan tenure?
Personal loan tenure can be anywhere between 12 to 60 months.
Q.Is there a processing fee for processing of Standard Chartered personal loans?
No. There is no processing fee for Standard Chartered personal loans.
Q.Do I need to pay a pre-closure fee for early settlement of my personal loan with Standard Chartered?
No. Early settlement charges for Standard Chartered personal loans are nil.
Q.What are the documents required for applying for Standard Chartered personal loans?
Following is the list of documents required while applying for Standard Chartered personal loans –
For Salaried applicants
- Latest salary slip
- Latest EPF statements
- Latest Borang BE
- Copy of NRIC (both sides)
For Self-employed applicants
- Six months bank statements and business registration form
- Latest EPF statements
- Latest Borang BE
- Copy of NRIC (both sides)
Other Products offered by Standard Chartered Bank:
News About Standard Chartered Personal Loan
Malaysia’s GDP growth forecast has been raised to 4.1%
Standard Chartered Bank has raised the forecast for Malaysia’s GDP growth from 3.8% to 4.1%. The bank said that the export growth at the end of 2016 was encouraging. The recovery in the commodity prices as boosted the growth momentum. Standard Chartered Bank raised its forecast for the current account surplus to 3%. It also said the investments were expected to pick-up this year. The slowdown in the property transactions may suppress investments. But, the government’s infrastructure projects should provide momentum. The household consumption has eased because of a relatively high unemployment rate.
13th April 2017