Standard Chartered Saadiq My HomeOne-i
Standard Chartered Saadiq understand that homeowners have different needs
at every stage of their lives. Whether you are buying your first home,
upgrading, refinancing or buying a new home as an investment, Saadiq have
just the right home financing plan, designed to help save half the cost of
your home financing.
What is Saadiq My HomeOne-i?
• Syariah-compliant home financing based on the Islamic principle of
Diminishing Partnership (Musyarakah Mutanaqisah)
• An innovative product that combines a home financing facility with an
easy-to-use current account (Mudharabah Account), giving you flexibility to
control your finances
How Saadiq My HomeOne-i works?
• Rental commitments (i.e. financing amount outstanding, net of Saadiq My
HomeOne-i Account credit balance) are calculated on the actual daily balance
outstanding
• Save on financing costs simply by depositing your surplus cash into the
Saadiq My HomeOne-i Account. Your surplus cash can now work harder to give
you rental savings
• The more you deposit into your Saadiq My HomeOne-i Account, the lower your
monthly rental charges
Saadiq My HomeOne-i Benefits
• Bigger savings whenever you deposit any additional surplus cash into
Saadiq My HomeOne-i Account
• Flexibility to deposit and withdraw the surplus cash without hassle or
hidden charges and no notice or additional documents are required
• No fees charged on the surplus cash paid into the account, even when you
do not withdraw the surplus cash
• Rental is calculated on a daily basis
• Potential to earn Mudharabah dividend on your Saadiq My HomeOne-i Account
for amounts exceeding the outstanding balance of the financing at Profit
Sharing Ratio 1:99 (Customer:Bank)
• Enjoy 20% stamp duty remission on financing documents for new property
purchase. If you are refinancing your existing conventional home loan, enjoy
stamp duty waiver on financing documents for the principal portion of your
redemption sum
• Ceiling rate protection shields you from Base Financing Rate (BFR)
fluctuations, protecting you from rising financing rates and giving you
peace of mind
Own Your Home in Half the Time
Below is an illustration of how
Saadiq My HomeOne-i is able to reduce your financing tenure, hence reducing
the total payment for home financing by half the cost.
| Traditional Home Financing (RM) | Saadiq My HomeOne-i (RM) | |
| Monthly Instalment Payment | 1,574.88 | 1,574.88 |
| Surplus Cash Deposited per month | Nil | 1,000 |
| Monthly Instalment + Cash Deposit | 1,574.88 | 2,574.88 |
| Financing Tenure Shortened by | 0 | 9.95 years |
|
Total Rental Payable
throughout Financing Tenure |
127,971.20 | 60,192.67 |
| Rental Savings | 0 | 67,779.49 |
By
depositing RM1,000 surplus cash every month, Saadiq My HomeOne-i is able to
reduce your financing tenure by 9.95 years, and thus your total payment for
home financing is reduced by RM67,778.53.
*One time set-up fee of RM200 is chargeable during account opening aside from
monthly maintenance charge of RM10 on your Saadiq My HomeOne-i Account.
*Saadiq My HomeOne-i Account is eligible for protection by PIDM. Other Terms
and Conditions apply.
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