What is Standard Chartered MortgageOne™ about?
MortgageOne™ is an All-In-One account that integrates your savings, payroll, current and mortgage accounts into one convenient transactional account. Financing your new home purchase is now more flexible!
Whether it is under construction or a completed property, MortgageOne™ will be able to finance up to 90% of the property value, for up to 35 years or up to 70 years (whichever is earlier). There is also a competitive refinancing rate for your current home loan.
What interest rates can I get with Standard Chartered MortgageOne™?
The interest rate you will get is a floating rate at a Standardised Base Rate (SBR) with a spread that covers all risks, costs and some margins.
Nonetheless, MortgageOne™ offers some of the best bank mortgage rates in the market, as well as flexible repayment up to 35 years or 70 years old (whichever is earlier).
Can I make advance payments or withdrawals from Standard Chartered MortgageOne™?
Yes, you can! MortgageOne™ provides the flexibility to make advance payments and withdrawals which can be made at any time with no notice and additional charges required.
However, it is important to note that the total amount you can withdraw is dependent on the tenure and facility limit available. You can also enjoy convenient banking via ATM facilities, chequebook, phone and internet banking.
How do I pay for my instalments?
There are a few easy ways. You can either pay via Interbank GIRO transfer, Standing Instruction or at Standard Chartered's credit deposit machines.
Here's a useful tip - you can consolidate all your deposits such as income, bonus and life savings into the MortgageOne™ account. This will make repayments much more convenient for you! Using the MortgageOne™ account, you can also make an 'Excess Payment'.
Excess payment is a very useful feature where you can pay extra on top of your standard instalments to reduce your total tenure and interest repayments, while also giving you the option to withdraw those payments easily for emergencies.
What are the fees and charges I should know?
There are several fees that you should know when applying for a MortgageOne™ home loan:
- Setup Fee of RM200 (+SST rate if applicable)
- Maintenance Fee of RM10 monthly (+SST rate if applicable)
- Cancellation Fee of 0.5%, if you bear the legal fee, valuation fee and stamp duty; otherwise 2.25% of the total facility
Any other benefits I can enjoy from the MortgageOne™ home loan?
Redraw Facility – withdraw excess cash paid into your home loan account for personal use at any time without restrictions and penalty.
Priority Banking privilege - If you're a Standard Chartered Priority Banking customer, the bank might offer you lower interest rates (subject to approval).
Do I need an insurance policy?
A Fire Insurance policy is compulsory.
However, a Mortgage Reducing Term Assurance (MRTA) is optional but highly advised.
What documents do I need to prepare for this home loan application?
Property Documents:
- A copy of SPA / Deposit or Booking Receipts / Letter of Offer from the Housing Developer
- Photocopy of the Land Title (if applicable)
Salaried Employee:
- Copy of NRIC (front and back)
- Latest 3-months salary slips AND bank statements
- Latest EPF statement via Standard Chartered's handheld device; OR
- Borang B / BE with LHDN/IRD acknowledgement; AND
- Proof of payment/receipt of the refund
New Salaried Employee:
- Copy of NRIC (front and back)
- Signed official HR Letter (less than 60 days) AND Latest 1-month bank statement; OR
- Signed Employment Contract (less than 45 days) AND Latest 1-month bank statement
Salaried applicant working abroad:
- Copy of NRIC (front and back)
- Latest 3 months' pay slips AND bank statement; OR
- Tax assessment form of the specific country; OR
- CPF statement (if applicable)
Commission Earner:
- Copy of NRIC (front and back)
- 6 months commission statement AND Bank statement; OR
- EPF / CPF statement if working in Singapore; OR
- Tax assessment form of the specific country if working abroad
Self-Employed:
- Copy of NRIC (front and back)
- EPF Statement (Shareholding <25%)
- Business Registration Certificate for Sole Proprietorship / Partnership of more than 2 years; OR
- Form 9, 24 and 49 for Private Limited Company; AND
- Latest 6-months company bank statements; AND/OR
- Borang B / BE with LHDN/IRD acknowledgement; AND/OR
- Company's latest Audited financial statements/balance sheet and Profit and Loss
Foreigners working in Malaysia:
- Copy of passport
- Valid work permit; AND
- Latest 3-months salary slips AND bank statement; OR
- Tax assessment
