Asked by Manzur Karim
Hi I have seen following from standard chartered bank's home loan features.
•This package comes with a 2 year lock-in period with a 1.5% penalty for both partial and full redemption.
•Cash rebate can also be applied to this package. For 1.5% and 2% cash rebate, additional interest loading of 0.50% per year would be imposed for the first 3 years and 4 years respectively. The cash rebate would be subjected to the respective prorated clawback.
•This package can be applied to Interest-Servicing Only loans with a loading of 0.25% for the duration of interest servicing period, and is subjected to credit’s approval.
I dont really quite understand what the 2nd and 3rd point is all about.
Can anyone be so kind to explain.
•This package comes with a 2 year lock-in period with a 1.5% penalty for both partial and full redemption.
•Cash rebate can also be applied to this package. For 1.5% and 2% cash rebate, additional interest loading of 0.50% per year would be imposed for the first 3 years and 4 years respectively. The cash rebate would be subjected to the respective prorated clawback.
•This package can be applied to Interest-Servicing Only loans with a loading of 0.25% for the duration of interest servicing period, and is subjected to credit’s approval.
I dont really quite understand what the 2nd and 3rd point is all about.
Can anyone be so kind to explain.
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