Standard Chartered Bank MortgageOne
With Standard Chartered MortgageOne Home Loan, your savings, current,
home loan and deposits are all rolled into one account. By doing so, any
deposits made into this account goes into reducing your loan outstanding.
When the loan outstanding is lower, the interest paid on the loan is also
lower. As each Ringgit goes into repaying your loan rather than repaying
interest, you can expect to trim off years on your mortgage period!
Benefits
• Funds available for redraw for any purposes
• Easy repayment options
• Take a payment holiday
• Interest calculated on daily balances
• Reduce interest charges
Eligibility
• Repayment amount within 40% of monthly salary
* includes Mortgage Reducing Term Assurance
Comparison between MortgageOne and a Traditional Home Loan
Illustration: Loan Amount RM250,000 / Loan Period 20 years
| Year | MortgageOne (%) | Traditional Home Loan (%) |
| 1st Year | 1.50 | 5.75 |
| 2nd Year | 6.25 | 5.75 |
| 3rd Year | 6.25 | 5.75 |
| 4th Year | 6.25 | 5.75 |
| Thereafter | 5.50 | 5.50 |
|
MortgageOne (RM)* |
Traditional Home Loan (RM) |
|
|
Monthly Instalment |
1,206 |
1,755 |
|
Total Interest Payable |
137,353 |
161,515 |
|
Loan Tenure (Years) |
16.2 |
20 |
*Based on prepayment of RM500 per month
|
Amount in Ringgit Malaysia (RM) |
|||||
|
Monthly Prepayment |
100 |
200 |
300 |
400 |
500 |
|
Monthly Installment |
1206 |
1206 |
1206 |
1206 |
1206 |
|
Total Interest Payable |
153,811 |
137,353 |
123,975 |
112,862 |
103,468 |
|
Interest Savings |
7,704 |
24,162 |
37,540 |
48,653 |
58,047 |
|
Number of Years |
|||||
|
Loan Tenure Shortened by |
2.3 |
3.8 |
5 |
6.1 |
7 |
*Based on prepayment of RM500 per month
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.
undo Standard Chartered Bank