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Standard Chartered Bank Home Loan

If you are looking for a Home Loan that suits your pocket & fulfill the basic need of a Dream Home, then Standard Chartered is there to convert this dream into reality. The unique features, benefits & a wide range of loans (personal loan, loan against property and credit card) are available for you to purchasing a plot, construction flat, home extension and renovation.

Special Features :
• Loan is available for salaried and self employed
• Only one time processing fees and no hidden charges is there
• You can choose tenure from 5 years to 20 years
• You can transfer your existing high interest loan to lower interest and save on interest
Standard Chartered Home Loan
Loan Amount
Occupation
Annual income
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Additional Benefits :
• Provide insurance on your home loan which protect your family from the burden for the repayment of the home loan in the unfortunate event of your death
• Give you the facility to save your tax
• It allows the top up on your home loan at attractive rate of interest if you repaying more than 6 months

Current Home Loan Interest Rates of Standard Chartered Bank Home Loan
Loan Schemes Interest Rates Processing Fees
Standard Chartered Bank 9.35% (Salaried) - 9.45% (Self-Employed)

0.5 % - 1.50%


  Salaried Self employed
Age 21years to 60years 21years to 60years
Income Rs.1,80,000 (p.a) Rs.2,50,000 (p.a)
Loan Amount Offered 5,00,000 - 1,00,00000 5,00,000 - 1,00,00000
Tenure 5years-20years 5years-20years
Current Experience 2years 2years
Processing Fee Rs. 7500+ Service tax

Rs. 7500+ Service tax

Documentation 1) Application form with photograph
2) Identity & residence proof
3) Last 3 months salary slip
4) Form 16
5) Last 6 months bank salaried credit statements
6) Processing fee cheque
1) Application form with photograph
2) Identity & residence proof
3) Education qualifications certificate & proof of business existence
4) Business profile,
5) Last 3 years profit/loss & balance sheet
6) Last 6 months bank statements
7) Processing fee cheque

Eligibility for the Standard Chartered Bank Home Loans:

In order to qualify for this loan, the following criteria must be fulfilled-

  1. The age of the applicant not be lower than 21 years at application, and over 60 years at loan maturity.
  2. For salaried applicants, the gross annual salary must not be lesser than Rs.1,80,000. The same stands at Rs.2,50,000 for a self-employed applicant.
  3. Both the salaried and self-employed applicant must have been employed/in business for a minimum of 2 years.
  4. Minimum home loan offered is Rs.5,00,000 and the maximum offer is Rs.1,00,00,000. The applicable tenure is 5-20 years.
  5. The various documents to be submitted include-
    • Application form with photograph
    • Identity & residence proof
    • Last 3 months salary slip
    • Form 16
    • Last 6 months bank salaried credit statements
    • Processing fee cheque
    • Education qualifications certificate & proof of business existence (for self-employed)
    • Business profile (for self-employed)
    • Last 3 years profit/loss & balance sheet (for self-employed)

Frequently asked questions about SCB home loan.

  1. What documents must I submit at the time of loan application?
    • Application form with self-attested photograph.
    • Bank Statements & Salary Slips (Income Documents)
    • Associated Property Papers
    • Identity, Age and Permanent Address Proof
    • A Cheque covering the Processing Fee
  2. What are the maximum and minimum loan amount availability?

The loan amount ranges from a minimum of Rs.5 lakhs to a maximum of Rs.10 crore.

  1. How much will the processing fee amount to?

Depending upon the chosen home loan scheme, the processing fee ranges from 0.5%-1.50% of the sanctioned amount.

  1. Whom can I choose as co-applicants on my home loan?

The obvious choice would be your spouse, parents or children. You could also choose your siblings as co-applicants if they currently are the co-owners of the property in question. Alternatively, you can also choose partnership firms, private limited companies or proprietorship concerns as co-applicants on the home loan.

  1. Is the processing fee subject to refunding?

If your loan application is rejected, the processing fee (minus Rs.2000) will be refunded to you. However, if your loan is approved, the processing fees will not be refunded.

  1. How long will it take, from the point of application, to the approval of the loan?

Your loan will be approved or not, within 5 working days.

  1. What are the various modes of repayment of the monthly instalments?
    • Electronic Clearing System (ECS).
    • Standing instructions on your Standard Chartered Bank account.
  2. How if the Standard Chartered Bank Home Loan interest calculated?

This calculation is done on the basis of daily reducing balance and is charged per a monthly cycle.

The Standard Chartered Bank Home Loan offers the convenience, transparency and short turn-around times that can be expected from an internationally acclaimed bank. This loan is highly customizable, scalable and has additional provisions that protect your family against the burden of loan repayment in the unfortunate event of your premature death. All in all, a solid home loan plan for your ideal, dream home.


Disclaimer : Please note that the interest rates and eligibility criteria given here are based on the market research. To enable the comparisons certain set of data has been reorganized / restructured / tabulated .Users are advised to recheck the same with the individual companies / organizations. This site does not take any responsibility for any sudden / uninformed changes in interest rates.

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