Zero Moving Cost 2023

I find Standard Chartered Zero Moving Cost Home loan is one of the most competitive home loan packages in the market right now.

In my previous article, I wrote about Zero Moving Cost Home Loan Malaysia – Is this a better choice?.

In the article, I shared about two most competitive Zero Moving Cost Bank Home Loan from Standard Chartered Bank and AIA Malaysia.

If you haven’t read the article, I think you should do so after reading this one.

In this article, I’m going to share my thought and experience on Standard Chartered Zero Moving Cost Home Loan.

Before we get into my thought and experience with Standard Chartered house loan, I want you guys to check out the criteria for the Standard Chartered Zero Moving Cost.

standard chartered zero moving cost

SCB House Loan – Zero Moving Cost Home Loan

Who can apply?

Individual Malaysian citizens.

For self-employed – The business established for at least two years and operating profitability for the past two years.

Purpose of applying for a home loan,

  1. Buying a completed house ( Sub sales )
  2. Refinancing with cash out
  3. Refinancing with debt consolidation

Interest Rates :

For sub sales / refinance (non zero cost)
LTV > 80% margin , 4.00%
LTV <=80% margin, 3.95%

Just Transfer Zero Moving Cost – Min 400k
– No cash out available

Zero Moving Cost (min 200k above)

Debt consolidation
– Consolidate few loan into one loan (credit card, car loan & personal loan etc)
– Zero cost 5.00%
– Non zero cost 4.80%

All rates for subject to bank’ s approval

* Interest rates are subject to change by the bank without notice.

The margin of finance:

The margin of finance is up to 90% for refinancing and buying a completed house.

Loan Tenure:

Up to 35 years or age 70 whichever is earlier.

Mortgage Insurance (MRTA):


Home Loan Product:

Full Flexi Conventional & Islamic home loan.

Home Loan Penalty:

Five years. 2% penalty for early redemption.

SCB House Loan Advantages:

  1. No need to pay legal fees, stamp duty, disbursement, and valuation fees.
  2. Fast approval.
  3. SCB house loan accepts debt consolidation case and offering zero moving cost package.
  4. SCB house loan is offering a Full Flexi home loan product. Full Flexi home loan product is allowing you to pay more without giving any notice. You can make extra payments and withdrawal anytime.
  5. When you pay more, it will save your home loan interest.
  6. The margin of finance is up to 90% for refinancing and buying a completed house.

ZEC House Loan Terms :

  1. Interest rates for Zero Cost are slightly higher than the standard home loan package.
  2. Full Flexi home loan imposed monthly RM10 maintenance fees in the home loan account.
  3. The home loan interest rates are variable — not fixed.
  4. The home loan installment is subject to change since it is a variable interest rate.
  5. Home Loan lock in period is up to five years.

If you’re interested in applying, call us today at 012-6946746, and we will introduce an experience and helpful Standard Chartered Berhad Sales officer to assist your case.

zero entry cost home loan malaysia,

My Experience With Standard Chartered Mortgage One

A couple of years ago, I had a Standard Chartered Home Loan account.

One of Standard Chartered superior home loan products is their – Mortgage One Home Loan.

Mortgage One Home Loan existed a very long time ago, at least 15 years ago. If my memory still serves me right.

I remember Standard Chartered Mortgage One Home Loan because, at that time, I was young and working with Citibank. Citibank has this very profound home loan, called FlexiHome Loan. And our main competitor is Standard Chartered Mortgage One Home Loan.

full flexi home loan

Citibank Flexi Home Loan

So, everyone in Citibank will talk about this new product by Standard Chartered and how to compete with Standard Chartered Mortgage One Home Loan.

And I used to hate Standard Chartered Officer for stealing our client. They are our nemesis in business. (chuckles)

Citibank is the pioneer of Full Flexi home loan and later followed by Standard Chartered and other banks.

When Citibank launched its Full Flexi home loan, not many people understand how this Full Flexi Home Loan can save their interest. Because you need to understand the mechanism of Full Flexi Home Loan before you know it is the right product.

But, some people tend to look at the monthly maintenance fees of RM10 monthly and one-time account set up fee and decided this is not a good product.

For people who have more money in the account or well to do, they know RM10 a month is nothing compared to the interest saving that they are going to get.

That’s why, in the initial stage of Full Flexi Home Loan, it more compelled to specific segments of people – People with Money.

standard chartered mortgage one

The Truth About Standard Chartered Mortgage One

The truth is Full Flexi home loan like Citibank, Standard Chartered Mortgage One, or any other Full Flexi Home Loan is excellent. But, provided you know how to use it.

Fixed Deposit or Savings Account money that doesn’t earn you many dividends should be transferred to Full Flexi Home Loan.

You’ll be surprised how much interest you are saving. No kidding.

So, I did that.

Sold My House

I sold a house, and the money I profited from the selling, I transferred it to my Standard Chartered Mortgage One Home Loan.

And immediately, my interest charged by the bank is reduced to half, and my minimum installment is adjusted too. Every month, I only need to pay less, or if I want to stick with my original payment, I can also do that.

Come next month; I need some money to use, I just easily withdraw from Standard Chartered Mortgage One account. Without giving notice to the bank, I only transfer it online. Easy peasy, right?

The time came when I need to be parted from Standard Chartered; all the process and transaction went smoothly.

Whenever I need help with my account, I’d call the customer service, and most of the time, they can help me instantly.

But, there are a few things that are bugging me a lot about Standard Chartered.

a. Fire insurance.

Yearly, I’d need to send my apartment fire insurance by hand to their center, which located in Bukit Jalil.

Even though they have the option of sending it by the courier but I found it still troublesome.

Some of the banks have the option of emailing the copy of fire insurance, and I’m surprised that they can’t accept this.

b. Branches

Lack of branches for Standard Chartered bank. Not all the places in town have Standard Chartered branches. They will only set up one if they feel the location is an excellent place to invest in an office.

So, I have to explore the nearest branch from where I stay, it about 20-25km to the closest office.

loan rumah standard chartered,

My Personal Thought About Standard Chartered Malaysia

In the past, as a Sales Mortgage Officer myself, I have attended clients who insist on Standard Chartered Bank. At that point, I don’t understand why.

But, once I became their client. I do. It’s very simple.

Standard Chartered Bank is a bank that lives up to the expectation.

They offer good interest rates, and if not the cheapest in the market, they are one of the most competitive ones. Based on the current trend ( December 2020), if your loan amount is about RM900,000, they can offer up to 2.95% per annum home loan interest rates. The interest rate is variable, not a fixed rate.

Their home loan product is excellent, and they have a different type of bank’s policy that sometimes can be seen as quite flexible. Their bank policy is quite clear and transparent. It’s easier to know which customer case is can or cannot do.

Their customer service is excellent, and most of the time can resolve our issue with them.

On top of all, we also work with a great Standard Chartered Banker. She is hardworking, efficient, and, most importantly are reachable on the weekend. Isn’t she wonderful?

refinance rumah

Refinancing With Debt Consolidation

This year, Standard Chartered Bank Home Loan launched Refinancing with Debt Consolidation.

So, what is Refinancing with Debt Consolidation?

Refinancing with Debt Consolidation is a refinancing where the new refinance bank will directly settle your existing debts to the bank.

If you have a car loan with RHB Bank, they will settle the debt directly to RHB. Instead of the traditionally refinancing where you’ll get a cash out from the refinancing, for Refinancing with Debt Consolidation, they will directly pay to the loan facilities that you owe.

Isn’t it better if I receive the cash-out and decide on my own to pay down which debts?

Indeed, it is better that way.

But, there is an advantage of taking Refinancing with Debt Consolidation.

Refinancing with Debt Consolidation Explained

Usually, people who go for Refinancing with Debt Consolidation is the one that can’t get approval for standard refinancing.

Standard refinancing eligibility calculation is strict. The bank will be based on ten years’ tenure to calculate the installment and use the installment to calculate your loan eligibility. So, not many people will pass the loan eligibility calculation.

Therefore, Standard Chartered Bank introduces Refinancing with Debt Consolidation.

Under Refinancing with Debt Consolidation, all the debts that will be settled by Standard Chartered Bank will not calculate as a commitment.

So my friend, in this way, the loan eligibility calculation will be so much easier. Hence, your loan is easy to approve.

Therefore, if you can’t get approval for the typical refinancing, you have another option by applying Refinancing with Debt Consolidation.

In addition to that, they have Zero Moving Cost for Refinancing with Debt Consolidation. Isn’t this fantastic? Who does that?

Standard Chartered Bank’s Flaws

But, like other companies in this world, Standard Chartered Bank also has its flaws.

Well. Standard Chartered Bank stopped promoting its Islamic Home Loan. They do have an Islamic Home Loan, but the interest rate is way higher than the average interest rates.

So, whenever the client insisted on Islamic Home Loan, we will not introduce to Standard Chartered Bank.

Another flaw is Standard Chartered Bank has fewer branches compare to other local banks.

Even though they have fewer branches but I’d said that most of the time, you could get your issue to solve on the internet banking or through the phone. So, no reason going to the branch, eh?

I want to put it out there. Even though I have a fantastic experience with Standard Chartered Bank, but I do believe some people might have a terrible experience with them.

What I’m sharing here is based on my experience, and other people might have a different experience. So, you have to experience all this thing yourself and judge it from there.

But, for me. My experience is great.

By any chance, if you are considering applying for Standard Chartered Home Loan, you can call us at 012-6946746. And we will introduce our Standard Chartered Sales Personnel to you.

If you enjoy this article, feel free to share this article with your friends and family. And I see you in the next one.


Melissa Lee

Online Mortgage Consultant

012-6946746 (David)

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