Conditions for waiver of collateral valuation fees

Collateral valuation must proceed by December 31, 2021, and approved loans must be drawn within 10 business days from December 31, 2021.

Conditions for waiver of collateral valuation fees

1. Housing property as follows: Single houses, attached houses, townhouses, shophouses, commercial buildings, and condominium units.
2. Empty plots of land sized up to 3 rai located in a populated area. 
3. Collateral as per No.1 and No. 2 must be obligation-free.
4. Collateral under a sale-on-consignment contract or a third-party mortgage must be a residential property only.

Collateral not meeting the above conditions is subject to collateral valuation fees at the regular rate.

Conditions for waiver of mortgage fees

Waiver of mortgage fees is for My Home My Cash applicants with a minimum approved loan amount of 1,500,000 baht with interest rates as per SCB’s announcement, and drawn within 10 business days from December 31, 2021. SCB will bear the mortgage fee for up to 1% of the loan amount. In the event that an applicant pays up their loan amount within the first 3 years in any case (through refinancing, sale, or personal funds), they will be deemed to have failed to meet this condition. In such case, the applicant agrees to pay SCB the mortgage fee of 1% of the loan amount.

My Home My Cash conditions

• The maximum loan amount is 20 million baht.
• The maximum installment period is 30 years, and when combined with an applicant’s age must not exceed 65 years. In case of multiple applicants, the youngest applicant’s age is applied.
• Preliminary loan consideration results are available within 1 business day, only for property in property development projects. This is provided that a complete set of required documents and collateral valuation documents is submitted.
• Loan approval and instalment period are subject to supporting documents submitted for income consideration, collateral value, and conditions as specified by SCB.

Fire insurance and Credit Life insurance policies

• Clients may arrange fire insurance with any insurance company they prefer.
• For fire insurance, the sum insured must be in line with the valuation of the building (excluding land and footing)  and the insurance period must be throughout the mortgage period (and in compliance with the Office of Insurance Commission’s (OIC) requirements).
• The Credit Life insurance policy is an option for customers’ consideration. Whether they opt for a Credit Life insurance policy or not does not affect SCB’s consideration and approval of loan applications.

Collateral ownership conditions

Collateral under third-party ownership is accepted as follows:

1. Parents or siblings of applicant/joint-applicant (in case of loan amounts over 10 million baht, the collateral must not be a shop house/commercial building or include business space under the applicant/joint-applicant’s ownership).
2. A third-party other than parents or siblings of applicant/joint-applicant: Signed permission for the applicant/joint-applicant’s pledging as collateral for loan application is required. In this case, loan amounts are up to 5 million baht.