Product Detail

With SCB's My Home My Cash, the equity in your debt-free home can help make your wish come true. Whether it’s expanding a business, renovating your home, paying off a debt or following a dream. The type of asset accepted as collateral includes any single detached house, townhouse, shophouse, commercial building, condominium unit or empty plots of land (not deserted and located in populated areas).

Maximum loan amount of 20 million baht

Maximum loan amount of 20 million baht

Loan approval is subject to applicant’s income, collateral value, and conditions specified by SCB.
Installments for up to 30 years

Installments for up to 30 years

An installment period can be for up to 30 years, but when combined with an applicant’s age must not exceed 65 years. In case of multiple applicants, the youngest applicant’s age is applied.
Your property as collateral

Your property as collateral

Accepted properties include detached houses, townhouses, shop houses (for a maximum loan amount of 10 million baht), condominium units, and empty plots of land (not deserted and located in populated areas).
Quick approval within just 1 business day

Quick approval within just 1 business day

Quick loan application results, provided a complete set of required documents is submitted. No need for a loan guarantor and no fee for early payoff.
Interest Rates

Interest Rates

Subject to SCB’s announcement
Rates and Fees
Interest Rate for Lending Effective Date: 10.08.2021 Announcement Date: 09.08.2021

 

Interest Rate

Options

Interest Rate (p.a.)

Average rate for 3 years

Effective Interest Rate

  Year 1 Year 2 Year 3 Following years    
MHMC: General customers with Credit Life 100%/100% insurance policy MRR +1.65% MRR +1.65% MRR +1.65% MRR +1.65% 7.645% 7.645%
MHMC: General customers with a waiver of mortgage fee and a Credit Life 100%/100% insurance policy MRR +2.65% MRR +2.65% MRR +2.65% MRR +2.65% 8.645% 8.645%
MHMC: General customers with Credit Life 70%/70% insurance policy MRR +2.40% MRR +2.40% MRR +2.40% MRR +2.40% 8.395% 8.395%
MHMC: General customers with a waiver of mortgage fee and a Credit Life 70%/70% insurance policy MRR +3.40% MRR +3.40% MRR +3.40% MRR +3.40% 9.395% 9.395%
MHMC: General customers without a Credit Life insurance policy MRR +3.40% MRR +3.40% MRR +3.40% MRR +3.40% 9.395% 9.395%

 

Remarks:

  1. Minimum Retail Rate (MRR) as of August 9, 2021 is 5.995%.
  2. Effective interest rate is calculated based on a loan amount of 1 million baht for a mortgage contract period of 20 years.
  3. The interest rates are effective from 1 October 2021 – 31 December 2021 or until further notice.
  4.  Interest rates in case of a Credit Life insurance policy:
    • Credit Life 70%/70%: The sum insured must be at least 70% of the loan amount and an insurance period of 70% of the loan period, with a minimum insurance period of 10 years. In the event that a loan period is shorter than 10 years, the insurance period must be the same as the loan period. For this option, it is recommended that customers apply for fire insurance top-up, which will be included in the loan amount.
    • Credit Life 100%/100%: The sum insured must be at least 100% of the loan amount with an insurance period of 100% of the loan period. It is recommended that clients apply for fire insurance top-up, which will be included in the loan amount. 
    • Insurance is provided by  FWD Life Insurance. For inquiries about the insurance, call the FWD Call Center at 1315 (daily between 8:00 am – 8:00 pm) or visit www. fwd.co.th.
    • Customers should thoroughly study and understand insurance coverage details and conditions before making a decision to buy an insurance policy.
    • SCB is only a broker recommending or arranging insurance policies for its customers' consideration. Insurance coverage is subject to the insurer's conditions.

 

Waiver of collateral valuation and mortgage fees

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.

Collateral Price Appraisal and Survey Fee

  • Single houses: 5,000 baht per unit (VAT excluded)
  • Town houses, twin houses, and condominiums: 3,450 baht per unit (VAT excluded)
  • Fees subject to change as announced by the bank

Loan Consultation Service Fee

  • Waived.

Stamp Duty

  • 0.05% of loan limit, but not more than 10,000 baht.

Mortgage Fee

  • 1% of credit limit

Fire Insurance Premium

  • As charged by insurance company.

Qualification and Document Required

Qualification

Thai nationality
Has never had a non-performing loan at any financial institution
Age at least 20 years old, not more than 65.

Document Required

Identity Verification

  1. Only a copy of your ID card is required. It providing a copy of a government officer or state enterprise officer ID card with ID number and photo on the card, or passport (in the event that your spouse is a foreigner), please provide a copy of your house registration document.
  2. Copy of house registration
  3. Copy of marriage certificate (if applicable)
  4. Copy of certificate of name change (if applicable)

Collateral Document

  1. Copy of ownership document (copy of title deed, front and back)
  2. Collateral information disclosure (forms available at bank branch)
  3. Photos of the collateral

Income Document

Salaried employee

  1. Salary confirmation and pay slips
  2. Bank statements for past six months

Business owner

  1. Bank statements for past six months (personal account and business account)
  2. Four or five photos of the business premises and map showing location
  3. Copy of trade registration and company registration, including list of shareholders
  4. Tax submission documents for past year, showing income and expenditures as well as receipts for purchase and sale of goods

Self-employed

  1. Bank statements for past six months
  2. Professional license (doctor, engineer, lawyer architect)

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