Standard Chartered Bank MortgageKLIBOR

In uncertain times like this, save more when you refinance with Standard Chartered Bank, the only Bank that offers MortgageKLIBOR. It's a revolutionary home loan with interest rates pegged to the 3-month Kuala Lumpur Inter-Bank Offered Rate (KLIBOR), always reflecting current market conditions.


Benefits

• Full pricing transparency, with your loan interest rates pegged to the 3-month KLIBOR

• No hidden fees and charges

• Prepayment facility to reduce loan principal


Frequently Asked Questions (FAQs)

1. What is KLIBOR?

KLIBOR stands for Kuala Lumpur Inter-Bank Offered Rates. Its interest rates are derived from the activities of borrowing and lending funds between banks.

2. Will KLIBOR always be lower than BLR?

Historically, KLIBOR has consistently been significantly lower than Base Lending Rates, so you would potentially enjoy greater savings if you took up MortgageKLIBOR.

3. How does Standard Chartered determine its quarterly fixed KLIBOR?

KLIBOR contains published rates that you would be able to find in any major local newspaper. Standard Chartered Bank (SCB) sets its quarterly rate by adopting the 3-month KLIBOR rate on the last business day of the previous quarter. For example, the KLIBOR 3-month rate on 30 Sept 2010 would be SCB rate effective from 1 April 2013 to 30 June 2013. This fixed rate is updated every quarter.

4. Why take up MortgageKLIBOR?

MortgageKLIBOR is the FIRST conventional home loan that is pegged to KLIBOR* so that housebuyers can enjoy lower than the average market financing rates.

5. Are there any fees and charges for MortgageKLIBOR?

By pegging to KLIBOR*, we are essentially revealing our costs and margins. So, no, there are no set-up fees, maintenance fees or processing charges - hidden or otherwise!

*Based on 3-month KLIBOR


Documents Required

• Salary slips/advices for the last 3 months

• Bank Statement (3 months) / Savings Passbook

• EPF Statement

• A photocopy of Sales and Purchase Agreement

• A copy of updated valuation report by bank-approved valuers

• A photocopy of applicant's NRIC


NOTE: Please be advised that the product mentioned above may change from time to time, as the market and industry evolve.

For further information, please call Standard Chartered Bank Client Care Centre Tel: 1300 888 888 (+603-7711 8888 if call from overseas), or visit the nearest Standard Chartered Bank branch today.

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