Standard Chartered is a leading banking institution in Malaysia that enjoys a strong presence globally. The bank caters to commercial banking, consumer banking, investment banking and also offers wealth management services among others. The personal loan packages offered by Standard Chartered are a popular and sought-after choice by many. This is largely due to the higher margin of financing offered by the loans and the competitive interest rates it comes with. The loans are easier to repay and can serve a multitude of expenses making it an ideal choice for anyone looking for additional finances to bridge the gap between their income and their expenses.
|Name of Personal Loan||Flat Rate (p.a.)||Max. Loan Amount||Min. Monthly Income||Tenure||Processing Fee||For More Info.|
|Standard Chartered CashOne Personal Loan||Starting from 6.99%||RM250,000||RM3,000||
|Standard Chartered Quick Cash EDGE Personal Loan||Starting from 6.99%||RM250,000||RM3,000||
|Interest Rate (p.a.)||6.99% p.a.|
|Min. monthly income||RM3,000|
|Min. loan Amount||RM2,000|
The interest rates charged by both, CashOne package and the Quick Cash EDGE package start at 0.583% per month or 6.99% p.a. The interest rate charged is a flat rate. The effective interest rate offered will depend on the loan amount, the tenure, and the eligibility of the borrower.
Following are the benefits of the personal loan packages offered by Standard Chartered:
|Processing fees (CashOne and Quick Cash EDGE)||No charge|
|Early settlement fee (CashOne)||No charge|
|Early settlement fee (Quick Cash EDGE)||Written notice to be sent to bank one month in advance|
|Late payment fee||1% p.a. on the overdue amount calculated and charged on a daily basis until fully repaid|
|Income requirement||RM3,000 monthly|
|Employment||Permanent employees in Malaysia|
You can visit any of the Standard Chartered Malaysia branches and speak to the executives to apply for a personal loan. You will need to fill in the required forms and submit the same to the bank to complete the application.
You can also visit Standard Chartered Malaysia’s official website to apply. Under each of its personal loan products, you will get the option “Apply Now”. Click it to follow up with the application. However, ensure that you meet all the eligibility criteria, including age and income requirement, and nationality, before applying.
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.
You can call Standard Chartered Customer Service at 1 300 888 888 or 603 7711 8888. You can also write a mail and send it to [email protected] The head office address is as follows: Mezzanine Floor, Menara Standard Chartered, No. 30, Jalan Sultan Ismail, 50250, Kuala Lumpur, Malaysia.
Q. How can I check my Standard Chartered personal loan status?
A. To know your loan status you can check with the bank or call the customer care. Alternatively, you can also drop a mail to [email protected]
Q. What is the interest rate for a personal loan at Standard Chartered Bank?
A. The interest rate starts from 6.99% p.a.
Q. How do I cancel my Standard Chartered personal loan application?
A. You can cancel the loan application by notifying the bank in writing. The bank may charge a cancellation fee in such a case.
Q. What happens if I fail to make my repayments?
A. In such a case, the bank may ask you to pay the full amount along with the accumulated interest. The bank might also levy a late payment fee.
Q. What’s the procedure for repayment?
A. You have to repay the loan in instalments. If there’s any outstanding balance you owe to the bank after paying all the instalments, the amount needs to be cleared on the final payment date set by the bank.
Standard Chartered personal loans offer you flexibility with regards to payments along with attractive interest rates. Compare the personal financing products offered by Standard Chartered Malaysia and apply as per your convenience.
Q. Does the borrower receive a free credit card with either of the personal loan packages?
A. No. The borrower will only receive the Standard Chartered Visa Platinum Credit Card when they opt for the CashOne personal loan package.
Q. Is there any annual fees that is payable towards the card?
A. No. The card does not charge any annual fee. Borrowers are however required to pay the interest rate charged on retail transactions or cash withdrawals made using the card.
Q. Does the card have an interest-free period?
A. Yes. The card has a 20 days interest-free period. Transactions made and fully repaid within this period are exempt from incurring any retail interest charges.
Q. Can the card be used to carry out overseas transactions?
A. Yes. However, overseas transactions carry an additional charge. These transactions carried out in different currencies are converted to Malaysian Ringgit using an exchange rate determined by Visa International and carry a 1% administrative charge on the converted amount imposed by the bank.
Q. Do the loan packages have any form of lock-in period?
A. No. The loan packages do not have any form of lock-in period. The borrower can choose to settle a loan amount at any time before the loan attains maturity without having to worry about incurring any prepayment charges.
Q. Does the Quick Cash EDGE loan package charge an early settlement fee?
A. No. The loan does not charge an early settlement fee but borrowers are required to send in a written notice to the bank on their intentions of settling the loan earlier than the specified tenure at least one month in advance to the date of intended settlement.