The Base Rate effective October 5, 2015 is 9.5% p.a.
The Base Rate will be reviewed at least once every quarter The interest rate applicable for the loans/facilities linked to the Base Rate is liable to change based on the changes to the Base Rate.
Some of the important parameters that go into the determination of the Base Rate are cost of funds, operating expenses and a minimum margin to cover regulatory requirement of provisioning, capital charge.
The margin between your variable rate of interest and base rate will be determined by factors such as credit grading of the customer, quality of the collateral, risk profile of the industry/sector, tenure premium, account behaviour / conduct, product level allocable costs, basis risk etc. and changes in these factors may result in upward or downward revision of the margin. The variability of margin is also covered in the facility / sanction letter.
Standard Chartered Bank (the “Bank”) is committed to maintaining a culture of the highest ethics and integrity, and in compliance with all applicable law, regulation and internal policy. As part of this commitment, the Bank has a ‘Speaking Up’ programme through which genuine concerns in this regard can be raised. Members of the public can securely raise Speaking Up concerns through this hyperlink, which is hosted on behalf of the Bank by a third party ‘InTouch’. Examples of concerns that can be raised through this website are concerns that relate to accounting, internal accounting controls or auditing matters and concerns relating to bribery or banking and financial crime. Concerns received will be forwarded to the Bank’s investigations team for review. Complaints relating to SCB banking services should not be raised through this site in the first instance, but through the SCB branch network, contact centres, Relationship Managers or the ‘Contact Us’ webpage.