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).
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 +2.40% | MRR +2.40% | MRR +2.40% | MRR +2.40% | 8.395% | 8.395% |
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 +3.15% | MRR +3.15% | MRR +3.15% | MRR +3.15% | 9.145% | 9.145% |
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:
Conditions for waiver of collateral valuation fees
Collateral valuation must proceed by March 31, 2022, and approved loans must be drawn within 10 business days from March 31, 2022.
Conditions for waiver of collateral valuation fees
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 March 31, 2022. 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
Fire insurance and Credit Life insurance policies
Collateral ownership conditions
Collateral under third-party ownership is accepted as follows:
Salaried employee
Business owner
Self-employed