OptiOverdraft is secured against your Standard Chartered fixed deposit.


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.

Standard Chartered were first bank in Malaysia to peg our overdraft packages to the Kuala Lumpur Inter-Bank Offered Rates (KLIBOR)*. Even though KLIBOR* fluctuates daily, OptiOverdraft helps protect you against uncertainty by offering a fixed rate on a quarterly basis.

Not only do you enjoy lower interest rates than with a conventional overdraft facility, you can use up to your full overdraft limit without incurring any additional charges. You only pay interest on the amount you use.**

This give you better control over your finances and the confidence to plan ahead.

**In accordance with Rules of Association of Banks in Malaysia, a commitment fee of up to 1%p.a. shall be levied on the unutilised portion of the approved overdraft limits in excess of MYR250,000. The overdraft facility is subjected to terms and conditions and approval is at the bank's absolute discretion.

How It Works

Fixed Deposit OptiOverdraft

*3-month KLIBOR Rate (3.32% ) between 1 January to 31 March 2014

How does OptiOverdraft work to your benefit?

If you have MYR500,000 in a 12-month Fixed Deposit at 2.50% p.a., which you placed two months ago, but then suddenly find your dream home and need MYR100,000 for an immediate down payment, what do you do?

Option 1

Uplift your Fixed Deposit, forfeit your interest income and place the balance of MYR400,000 in a new Fixed Deposit.

Uplift Fixed Deposit and forfeit interest of

MYR500,000 x 2.50% p.a. = MYR12,500
New 10-month Fixed Deposit placement for
balance of MYR400,000 to earn interest of

MYR400,000 x 2% p.a. x 10/12 months = MYR6,666

Option 2

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

OptiOverdraft interest expense:

MYR100,000 x 3.52% p.a.** x 10/12 months = MYR2,933

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

Option 1
Uplift and Place New Fixed Deposit
Option 2
Use OptiOverdraft
Net Interest
Income Earned
MYR6,666 MYR9,883

Just by choosing to use OptiOverdraft, you earn MYR9,883 in interest income. That's more than 48% extra earnings.

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