Product Detail

My Car My Cash is a personal loan for car owners. You can get up to 5 million baht in cash by selling your car and getting it back under a hire-purchase agreement. You will continue to be able to use your car as usual and pay monthly installments (including VAT) for up to 84 months. When the loan is paid up, car ownership will be immediately transferred back to you. Loan application is simple, with a quick result and loan availability within 1 business day from the date of complete submission of required documents.

Loan amounts of up to 5 million baht

Loan amounts of up to 5 million baht

Each person has different financial needs. Your car can help stretch your liquidity as much as possible. Loan approval is subject to loan applicant qualifications, and their car’s brand, age, model, and year.
Light installments start from 58 baht/day for each loan amount of 100,000 baht

Light installments start from 58 baht/day for each loan amount of 100,000 baht

To ease your financial burden, installments start from 58 baht/day, calculated based on a monthly installment rate for 30 days for a loan amount of 100,000 baht. Interest is at a flat rate of 5.05% p.a. (as announced by SCB on January 1, 2020). Loan approval, interest rate, and installment period are subject to loan applicant qualifications, car brand, age, model, and year.
Chill installment periods for up to 84 months

Chill installment periods for up to 84 months

Choose the monthly installment plan you wish: 12, 24, 36, 48, 60, 72, or 84 months maximum.
Cars aged up to 15 years accepted

Cars aged up to 15 years accepted

For a My Car My Cash loan, the age of cars pledged must not exceed 15 years, and when combined with an installment period must not exceed 19 years. Only passenger cars, pick-up trucks, and vans registered as personal vehicles are accepted.
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.
You can apply for a loan, even if your car is still under an instalment plan.

You can apply for a loan, even if your car is still under an instalment plan.

The answer to all your cash needs My Car My Cash loans are available, even for cars under an instalment plan with other financial institutions.

Qualification

  • Individuals aged between 20 – 60 years old (when combined with an installment period must not exceed 65 years)
  • Thai nationality, residing in Thailand
  • Have ownership over a car to be pledged for a My Car My Cash loan. (My Car My Cash loans are available, even for cars under an instalment plan with other financial institutions.)
  • In the event that a guarantor is required, they must be a Thai citizen residing in Thailand.

Document Required

Identity document

A copy of your ID card or government/state enterprise officer ID card with your ID number and photo on it.

Proof of residence

A copy of house registration or document issued by a government agency with your address on it.

Proof of income

The most recent payroll slip or a salary confirmation letter issued by your employer and your account statement for the past 6 months.

SCB passbook

A copy of the first page of your SCB deposit account passbook for loan transfer (SCB accounts only).

Car insurance and related documents

Original copies of car insurance contract, vehicle registration book, and existing hire-purchase agreement (in case of current SCB or SCBL customers).

Conditions

Car acceptance conditions for loan application

  • Only passenger cars, pick-up trucks, and vans registered as personal vehicles are accepted. My Car My Cash is not available for vehicles registered under juristic persons’ names or for commercial/business/hiring purposes.
  • The age of cars pledged must not exceed 15 years. For an installment period of 84 months, the age of cars pledged must not exceed 12 years. A car’s age when combined with an installment period must not exceed 19 years.
  • Modified or imported cars or those with replacement engines are not accepted.

Insurance conditions

Insurance conditions are as specified by SCB conditions.

Fees and Expenses

Agreement fees and other expenses are as specified by SCB and will be collected from the approved loan amount. (See more details about fees.)

 

Hire Purchase Interest Rates for My Car May Cash Announced on 1 July 2021

 

 

Year of Registration

Flat Interest Rate

2016 – 2020 4. 05% – 7.30%
2011 – 2015 4.55% - 8.15%
2006 - 2010 5.15% - 9.65%

 

 

 

 

Remarks :

  • Interest rates for My Car My Cash loans are only for applicants with a loan amount approved during 1 July 2021 – 30 September 2021.
  • The maximum installment period is 84 months.
  • Approved loan amounts vary by car conditions and applicant qualifications. Loan approval criteria are as specified by SCB
  • Interest rates are subject to change, following SCB’s announcement.
  • SCB has the right to change the terms and conditions, offers, or to cancel the promotion campaign with at least 7 days prior notice before taking action, unless there is a need whereby such prior notice is impossible. In case of any dispute, SCB's judgment is deemed final.
  • For inquiries, call 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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