Not sure about other banks but maybe have to be more careful with banks that have branches in Sg.
We just have to read the application carefully before we sign.
There was no option not agree with the clause on the Stan Chart application.
They just state that in signing the form you agree to let them do it.
I just stop filling the form when I came to that Clause...
Just to share this with all.
My husband applied the loan application with Stan Chart but the loan executive did not ask him to sign any form. (in total, he applied to 4 banks, only one bank asked him to sign on the application form)
After applying to Stan Chart, he applied loan to other banks. All the banks asked for Singapore CBS report from him except Stan Chart. Stan Chart actually went to review the report themselves.
Caution: the bank could review the record if they wanted.
Next, one bank came back to tell him that his loan was rejected because he had a total of 3 loans taken in Malaysia for property purchase. OMG, he only took one loan before this application, why the sudden 2 more loans. :*: Then he realised that the previous loan taken from Ambank was updated twice into Malaysia credit bureau and Stan Chart updated into the system that he took the loan from them without he signing the letter of offer. Anyhow update without any acceptance of offer. Sigh ....
One by one, the other 2 banks also asked the same question, why he had taken so many loans and did not tell them. After understanding the situation, they asked for more supporting documents for appealing to the headquarters for loan approval. Busy and tiring with this Stan Chart and Ambank nonsense.