Product Detail

SCB's My Car My Cash lets you use your car as collateral for a loan of up to 5 million baht while you continue to possess and drive it. You can opt for low monthly installments over a period of up to 84 months. Ownership reverts to you immediately after the final installment payment. It's easy to apply, and approval is fast with cash available within one business day of receiving complete documents.

Maximum Loan Limit of 5 Million Baht

Maximum Loan Limit of 5 Million Baht

Knowing that everyone has different financial needs, we try to help you leverage as much financial liquidity through your car as possible. Loan limit approval depends on applicant qualifications, vehicle brand/model, and vehicle age. Sedans, pickups, vans, and cars pledged as collateral must be registered by individuals, be obligation free, and no more than 15 years old.
Easy Installments of 58 Baht per 100,000 Baht Loan Amount/Day

Easy Installments of 58 Baht per 100,000 Baht Loan Amount/Day

To make it easier for debt repayment, we offer installment payments of 58 baht per 100,000 baht loan amount/day up to 84 months based on the monthly installment rate (30 days) and a fixed interest rate of 5.05% per annum (prescribed in the bank’s interest rate announcement as of January 1, 2020). (Loan limit, interest rate, and installment period approval depend on applicant qualifications, vehicle brand/model, and vehicle age).
Easy Installments Up To 84 Months

Easy Installments Up To 84 Months

You can opt for any installment period you need, whether 12, 24, 36, 48, 60, 72, or 84 months.
Eligible Vehicles with Service Length Up To 15 Years

Eligible Vehicles with Service Length Up To 15 Years

Vehicles pledged as collateral must be no more than 15 years old. For an application for loans with installment payments of 84 months, the age of the car must not exceed 12 years, or 19 years when combined with the installment payment period.
Convenient and fast

Convenient and fast

We won't keep you waiting. An SCB loan helps make your dream come true easier with a simple, convenient and fast application process.
An installment plan tailored to you

An installment plan tailored to you

Get a worry-free payment plan. SCB helps you select loan terms and monthly installments that fit your financial conditions.

Qualification

  • Must be an individual person aged 20-60 years old (no more than 65 years when combined with installment period).
  • Must be a Thai national and reside in Thailand.
  • Must hold the ownership of the car.
  • The guarantor, if required, must be a Thai national and reside in Thailand.

Document Required

Identity Verification

Only a copy of your ID card is required. If a copy of a state officer or state enterprise officer ID card with the ID number and photo on the card is provided, please provide a copy of your house registration document.

Address Confirmation

Copy of your house registration or other official certification of residence.

Income Document

Pay slip or letter from employer confirming current salary. Also copy of bank account passbook showing past six months.

Bank Passbook

Copy of first page of passbook for bank account into which loan will be deposited, which must be an SCB account.

Insurance Policy and Car Registration

Original insurance policy and car registration book. Also current hire-purchase agreement (only applicable for current SCB or SCBL customers).

Conditions

Car Requirements for Loan Applications

  • Types of cars accepted: Passenger cars, pickup trucks, and vans only
  • The car must be free from any obligation and not over 15 years old.
  • The car registration must be for personal use only.

Insurance Requirements

Insurance requirements are subject to the bank’s conditions.

Fees and Expenses

Agreement fees and other expenses are as specified by the bank and will be deducted from the approved loan amount.

 

Hire Purchase Interest Rates for My Car May Cash Announced on 1 January 2020

 

 

Year of Registration

Flat Interest Rate

2015 – 2019 4. 05% – 7.30%
2010 – 2014 4.55% - 8.15%
2005 - 2009 5.15% - 9.40%

 

 

 

Remarks :

  • Hire purchase interest rates for My Car My Cash are for clients applying for and obtaining loan amount approval during 1 April 2020 – 30 June 2020 only.
  • The maximum installment payment period is 84 months.
  • Loan amounts approved depend on the car’s condition and the applicant’s qualifications, so they may vary from one client to another.
  • Loan approval conditions follow the regulations prescribed by the bank.
  • Interest rates are subject to change as may be announced by the bank.
  • The bank reserves the right to amend the terms, conditions, requirements, and benefits of this promotion campaign, or cancel the campaign by giving notice to customers at least 7 days in advance, unless stipulated otherwise. In case of any dispute, any decision or judgment made by the bank is deemed absolute and final.
  • For additional information, please contact the SCB Call Center at 02-777-7777.

Minimum Information Disclosure

Table of minimum information disclosure: My Car My Cash
Item Details disclosed
a. Interest rate

 

Type of car Flat Interest Rate p.a. Effective Interest Rate p.a
For cars aged no more than 9 years 13%
26%
For cars aged 10 years or more 17%
34%



 Interest rate calculation: Daily basis
The number of days per year for interest calculation: Based on a calendar year

 

b.Maximum loan amount allowed 80% of asset price  (5 million baht maximum)
c. Agreement period (agreement validity period) 72 months or 6 years maximum
d.Collateral The applicant’s car, but they can use the car as usual.
e.Service fees and penalty fees Details about any fees, service fees, and penalty fees of SCB auto finance (hire-purchase loans)
f.Insurance Car insurance/ credit protection insurance/ accident insurance/ life insurance
g. Guarantor N/A

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