BANDAR SERI BEGAWAN
Standard Chartered Bank (SC) kicked off the new year with a Home Loan Campaign, which offers four flexible financing schemes to those looking to buy new homes or still exploring options for their existing home loans.
The four offerings include a 5 percent subsidy of approved loan amounting up to a maximum of $15,000 with 5 percent effective interest rate; 5 percent subsidy for a maximum loan of $10,000 with an effective interest rate of 4.5 percent; no subsidies but an effective interest rate of 4.75 percent with five years free settlement after loan is paid down; and 4 percent effective interest rate without subsidy.
To be eligible for these offers, homeowners are required to get a loan of at least $100,000 with a minimum tenor of 10 years. They are also required to assign their salaries to the bank subject to credit assessment and documentation prerequisites.
SC’s Head of Retail Products and Segments Jocelane Basir explained that all of the four offerings are tailored to give options for clients to choose from, accordingly to their financial capabilities.
“Some clients may want to prioritise having additional funds to get started, while others may prefer to have lower interest rates to manage monthly repayments,” she said.
“We also understand that home ownership is a major financial decision and the process can sometimes be complex and overwhelming (but) we also recognise that not every house is a one size fits all and the same goes for clients’ financial needs,”
“We take this to heart when modelling our financing solutions because we know that every client is unique in their background, needs and wants,” she added.
Along with the campaign, Jocelane also announced the opening of SC’s Mortgage Centre at its Gadong Branch.
The new centre which will be operated by a team of dedicated Mortgage specialists is designed to cater to home financing enquiries and consultations.
Members of the public who are interested to know more about the new offerings can call the bank via 2658000 or visit the new centre. They can also visit the bank’s website or follow its Facebook and Instagram accounts.