Loans - OptiOverdraft - Standard Chartered Bank Malaysia Berhad

OptiOverdraft, the first overdraft package in Malaysia to be pegged to the Kuala Lumpur Inter-Bank Offered Rates (KLIBOR)*

With OptiOverdraft, you get the confidence of lower than the average market financing rates, when you secure your OptiOverdraft to your Standard Chartered Fixed Deposit or Unit Trust Investment.

We are the first to peg our overdraft packages to the Kuala Lumpur Inter-Bank Offered Rates (KLIBOR)*. Even though KLIBOR* fluctuates daily, OptiOverdraft helps curb this uncertainty by offering a fixed rate on a quarterly basis so you can be protected from the unexpected.

That means from January to March, April to June, July to September and October to December, you enjoy the certainty of a fixed rate for your OptiOverdraft. By doing so, you can achieve all you’ve set out to achieve, for yourself and your family saving on high interest normally experienced by the conventional overdraft facility.

How does OptiOverdraft work to your benefit?

Let us say for example, you have RM500,000 in a 12-month Fixed Deposit at 2.50% p.a., which you placed two months ago. Then unexpectedly, you find your dream home and need RM100,000 for an immediate down payment. What do you do?

Option 1

Uplift your Fixed Deposit, forfeit your interest income and place the balance of RM400,000 in a new Fixed Deposit.

Uplift Fixed Deposit and forfeit interest of:

RM500,000 x 2.50% p.a. = RM12,500

New 10-month Fixed Deposit placement for
balance of RM400,000 to earn interest of:

RM400,000 x 2% p.a. x 10/12 months = RM6,666

Option 2

Use OptiOverdraft to finance your down payment for 10 months until your Fixed Deposit matures.

OptiOverdraft interest expense:

RM100,000 x 3.52% p.a.** x 10/12 months = RM2,933

** Assuming Fixed Deposit OptiOverdraft rate is KLIBOR* + 1%p.a. with KLIBOR* fixed at 2.52%p.a.

Summary

	Option 1 Uplift and place new Fixed Deposit	Option 2 Use OptiOverdraft
Net interest income earned	RM6,666	RM9,883

Just by choosing to use OptiOverdraft, you earn RM9,883 in interest income. That’s more than 48% extra earnings!

How does OptiOverdraft work?

OptiOverdraft is secured against your Standard Chartered Fixed Deposit or Unit Trust Investment.

*Based on 3-month KLIBOR

For more information on our overdraft facilities:

Talk to us at 03 7718 9688

Locate a branch near you

*Terms and conditions apply. The Bank reserves the right to amend the facilities, and terms and conditions with or without notice.