ShareMy Home My Cash
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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
Loan approval is subject to applicant’s income, collateral value, and conditions specified by SCB.
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
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 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
Subject to SCB’s announcement
Interest rates
1. Interest rates for clients in general
OPTION | INTEREST RATE (P.A.) | ||
|---|---|---|---|
| FIRST YEARS ONWARDS | AVERAGE RATE FOR 3 YEARS | EFFECTIVE INTEREST RATE (P.A.) | |
| Clients applying for Credit Life 100%/100% insurance policy | MRR+1.650% | 8.520% | 8.520% |
| Clients applying for Credit Life 70%/70% insurance policy | MRR+2.400% | 9.270% | 9.270% |
| Clients without a Credit Life insurance policy | MRR+3.400% | 10.270% | 10.270% |
| Clients with a waiver of mortgage fee* and a Credit Life 100%/100% insurance policy | MRR+2.400% | 9.270% | 9.270% |
| Clients with a waiver of mortgage fee* and a Credit Life 70%/70% insurance policy | MRR +3.150% | 10.020% | 10.020% |
2.Interest rates for clients in general : Credit limit from 5,000,000 baht or more
OPTION | INTEREST RATE (P.A.) | |||
|---|---|---|---|---|
| YEARS 1-3 | FOLLOWING YEARS | AVERAGE RATE FOR 3 YEARS | EFFECTIVE INTEREST RATE (P.A.) | |
| Clients applying for Credit Life 100%/100% insurance policy | MRR | MRR+1.650% | 6.870% | 8.048% |
| Clients applying for Credit Life 70%/70% insurance policy | MRR+1.000% | MRR+2.400% | 7.870% | 8.876% |
| Clients without a Credit Life insurance policy | MRR+3.400% | MRR+3.400% | 10.270% | 10.270% |
3.Interest rates for regular employees : Income from 50,000 baht or more
OPTION | INTEREST RATE (P.A.) | |||
|---|---|---|---|---|
| YEARS 1-3 | FOLLOWING YEARS | AVERAGE RATE FOR 3 YEARS | EFFECTIVE INTEREST RATE (P.A.) | |
| Income 50,000 baht or more Clients applying for Credit Life 70%/70% insurance policy | MRR+1.000% | MRR+2.400% | 7.870% | 8.876% |
| Income 50,000 baht or more Clients without a Credit Life insurance policy | MRR+1.500% | MRR+3.400% | 8.870% | 9.713% |
| Income 100,000 baht or more Clients applying for Credit Life 70%/70% insurance policy | MRR+0.500% | MRR+2.400% | 7.370% | 8.716% |
| Income 100,000 baht or more Clients without a Credit Life insurance policy | MRR+1.000% | MRR+3.400% | 7.870% | 9.540% |
4. Interest rates for clients in special professions*
OPTION | INTEREST RATE (P.A.) | |||
|---|---|---|---|---|
| YEARS 1-3 | FOLLOWING YEARS | AVERAGE RATE FOR 3 YEARS | EFFECTIVE INTEREST RATE (P.A.) | |
| Clients applying for Credit Life 70%/70% insurance policy | MRR | MRR+0.750% | 6.870% | 7.417% |
| Clients without a Credit Life insurance policy | MRR+1.000% | MRR+1.500% | 7.870% | 8.237% |
Remarks:
- Minimum Retail Rate (MRR) as of 6 April 2023 is 6.870%
- Effective interest rate is calculated based on a loan amount of 1 million baht for a mortgage contract period of 20 years.
- The interest rates are effective between 4 April 2023 – 30 June 2023 or until further notice.
- 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 clients 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 and an insurance period of 100% of the loan period as per the mortgage contract. For this option, it is recommended that clients apply for fire insurance top-up, which will be included in the loan amount.
- Credit Life insurance coverage is subject to insurance conditions of FWD Life Insurance Co., Ltd. Fire insurance coverage is subject to insurance conditions of Deves Insurance PCL.
- Clients should thoroughly study and understand details, conditions, and requirements about claims and benefits before making a decision to buy an insurance policy.
- SCB is only a broker recommending or arranging insurance policies for its clients' consideration. Insurance coverage is subject to the insurer's conditions.
- For inquiries about Credit Life insurance, call the FWD Call Center 1351 (8:00 am – 8:00 pm daily) or visit www.fwd.co.th.
- For inquiries about fire insurance, call the Deves Insurance Call Center 1291 (8:00 am – 6:00 pm daily) or visit www.deves.co.th
Promotions
1. Waiver of collateral valuation fees
Conditions for waiver of collateral valuation fees
Collateral valuation must proceed by 30 June 2023, and approved loans must be drawn within 10 business days from 30 June 2023.
Waiver of collateral valuation fees is valid for the following collateral items:
- Housing property as follows: Single houses, attached houses, townhouses, shophouses, commercial buildings, and condominium units.
- Empty plots of land up to 3 rai in size located in a populated residential area.
- Collateral items as per No.1 and No. 2 must be obligation-free.
(Collateral items other than those specified above are subject to regular collateral valuation fees.)
2. Waiver of mortgage fees
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 30 June 2023. 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.
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
- 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.
- Copy of house registration
- Copy of marriage certificate (if applicable)
- Copy of certificate of name change (if applicable)
Collateral Document
- Copy of ownership document (copy of title deed, front and back)
- Collateral information disclosure (forms available at bank branch)
- Photos of the collateral
Income Document
Salaried employee
- Salary confirmation and pay slips
- Bank statements for past six months
Business owner
- Bank statements for past six months (personal account and business account)
- Four or five photos of the business premises and map showing location
- Copy of trade registration and company registration, including list of shareholders
- Tax submission documents for past year, showing income and expenditures as well as receipts for purchase and sale of goods
Self-employed
- Bank statements for past six months
- Professional license (doctor, engineer, lawyer architect)
