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Standard Chartered Bank Home Loan

Standard Chartered Bank
4.5

Owning a place you can always call home is a great idea. Standard Chartered Bank offers home loans with flexible tenure, repayment options, loan transfer and much more. The home loan interest rate starts at 6.99% annually. Further, anyone can avail of a home loan of up to Rs. 35 crore. Additionally, you get easy application procedures and fast 24*7 online services.

  • Standard Chartered Bank
  • Home Loan
Loan Amount:₹5L - ₹35Cr
Interest Rate:6.99%
Processing Fee: 0.5% - 1%
Tenure:25 Years
Details
BanksInterest RateProcessing FeeLoan Amount/Tenure
Standard Chartered Bank

6.99%

0.5% - 1%

₹5L - ₹35Cr

Tenure(Up to 25 Years)

Details

Features & Benefits of Standard Chartered Bank Home Loan

  • Easygoing tenure of 25 years depending on the loan amount and repayment amount.
  • Smoothly transfer the loan amount to ease up your monthly EMIs at decreased rates.
  • Amazing refinancing options within 6 months of purchasing property if you apply for a Standard Chartered Bank home loan.
  • Interesting cashback offers on Standard Chartered Bank home loan online apply of up to 2% depending on the repayment track. 
  • A unique plan of financing solution that will make your home loan payback easy and with less interest burden.
  • Get a home loan of up to 35 crores at an interest rate of 6.99% per annum.
  • Enjoy the tax benefits under the Income Tax Act 1961.
  • Get doorstep services or use a 24*7  phone banking helpline numbers across the world.

Standard Chartered Bank Home Loan Overview

Owning a place you can always call home is a great idea. You can apply for Standard Chartered Bank home loan requirements. The Standard Chartered Bank offers flexible tenure, repayment options, loan transfer and much more. The home loan interest rate starts at 6.99% annually. Further, anyone can avail of a home loan of up to Rs. 35 crore. You can apply for Standard Chartered Bank home loan as it offers following benefits as well.

  • Easy application procedure and fast 24*7 online services.
  • Banking services at your doorstep.
  • Amazing cashback offers up to 2%.

Standard Chartered Bank Home Loan Eligibility Criteria

Here are the eligibility criteria while applying for the home loan in Standard Chartered Bank:

Who can Apply
Self-employed individual Private firms
Salaried individuals Partnership firms
Age Eligibility
Minimum age for applying for Home loan 23 years
Maximum age for applying for Home loan 70 years

Standard Chartered Bank Home Loan Fees and Charges

Standard Chartered Bank offers home loan requirements that include charges other than the interest rate. These are:

Standard Chartered Bank varies the processing fee from 0.5 % – 1% depending on the loan amount and on the scheme selected by you.

Scheme 1: General Standard Chartered Bank Home Loans

  • The maximum loan amount is Rs.35 crore.
  • The repayment tenure is of 25 years.
  • You can get a cashback of up to 2% depending on your repayment record.
  • Home Saver financing scheme helps in repaying the loan at a faster pace.
  • The interest rate for this home loan scheme starts at 6.99% annually.
  • The processing fee is up to 1% of the entire loan amount.

Scheme 2: Standard Chartered Home Pack Loan

  • In this scheme, you will get a home loan, a credit card, and a savings or current account.
  • The credit card will offer endless annual fee waivers.
  • There is no processing fee for this scheme.
  • This scheme offers a package or mortgage reduced term assurance to take care of all the insurance needs.

Scheme 3: Standard Chartered Mortgage Loan Against Property

  • The maximum loan amount depends on the 70% of your property in the market.
  • This loan is applicable for both residential and commercial loans.
  • In this scheme, a financing option will help you in repaying your loan faster.
  • You will get doorstep service for applying for this loan.
  • The processing fee is 1% of the complete loan amount.

Scheme 4: Standard Chartered Home Saver

  • Interest is computed on a daily basis.
  • Top-up loan facilities available.
  • Balance of loan transfer is easy.
  • Gives an international debit card as a complimentary gift.
  • Doorstep service is available.
  • The home loan interest rate starts at 6.99% per annum.
  • The processing fee is up to 1% of the loan amount.

Standard Chartered Bank Home Loan Interest Rates

Interest Rates Starting at 6.99%*
Loan Amount Till ₹35 crores
Loan Tenure For salaried - 25 Years For Self-employed - 20 Years
Processing Fee
  • For Salaried Individual - 0.10% of the loan amount, minimum of INR 5,000 + GST
  • For Self- employed - 0.20% of the loan amount, minimum of INR 5,000 + GST
Minimum Upfront Login Fee INR 5,000 + GST

Factors affecting Standard Chartered Bank Home Loan Interest Rates

Here are the factors that affect the Standard Chartered Bank  home loan apply online.

Prestige of the Organisation you work in

If the organisation you work in has good prestige in the industry then there is a higher chance that you will be charged with lower interest rates. It will be perceived as you have a stable profession and responsible behaviour for paying the home loan debt.

Your Relationship with the Bank

If you have an interpersonal relationship with your bank, then you can have a good catch in terms of interest rates as the bank will see you as a trustworthy customer cum friend.

Level of Income

If your income is good, there is a 100% chance that you will be charged at a lower interest rate. This is because the bank will perceive your capability of returning the home loan amount without any default.

History of Repayment

If you have a good history of repayment it simply means that you are a responsible person and will pay all your debt. Therefore, the bank will willingly offer a lower home loan interest rates.

Don't be on the Defaulter List

If you are on a defaulter list and your credit profile is bad, the bank will either reject your loan application or you will be charged with a higher home loan interest rate. In Standard Chartered Bank you must have a credit score of 650 or above to be eligible to apply for home loans.

Standard Chartered Bank Home Loan Documents Requirement

Here is the list of general documents required while applying for a home loan:

  • A document as photo identity proofs.
  • A document as Address proof.
  • Evidence of financial documents like salary slips, bank statements, Income Returns, etc.
  • Property Documents.

Salaried Documents

Last 2 months salary slip Income Tax Returns information and Form-16
Last 3 months of bank statements

Self-Employed Documents

Last 2 year ITR and financial statements validated by a chartered Account Latest memorandum and Articles of Association for companies
Last 12 months bank statements An LLP agreement for Limited Liability Partnership
Latest deed for partnership firm

How does the EMI calculation work for Standard Chartered Bank Home Loan?

To calculate your Equated Monthly Investments (EMIs) you must know the principal amount, tenure of your loan, and the current annual home loan rate of Standard Chartered Bank. With a proper estimation, you can manage your finances better and plan accordingly.

The formula for calculating the EMI amount is:

EMI = (P × R × (1+r)^n)/((1+r)^n-1)

Where, the loan amount- P can be ranging between ₹10 lakh to 35 crore

The rate of interest- R is at 6.99%

The loan tenure - n can be up to 22 years

Standard Chartered Bank Vs Other lenders

Here are the Standard Chartered Bank Home Loan interest Rate compared with other lenders:

Lender Name For 30 Lakh > 30 Lakh - 75 Lakh > 75 Lakh
State Bank of India 6.70 to 7.65% p.a. 6.70 to 7.75% p.a. 6.70 to 7.85% p.a.
HDFC 6.70 to 8.45% p.a. 6.70 to 8.60% p.a. 6.70 to 8.70% p.a.
Axis Bank 6.75 to 11.50% p.a. 6.75 to 11.50% p.a. 6.75 to 11.50% p.a.
ICICI Bank 6.70 to7.55% p.a. 6.70 to 7.55% p.a. 6.70 to 7.55% p.a.
Kotak Mahindra Bank 6.55% p.a. onwards 6.55% p.a. onwards 6.55% p.a. onwards
PNB Housing Finance 6.99 to12% p.a. 6.99 to 12% p.a. 7.15 to 12% p.a.
Punjab National Bank 6.55 to 7.95% p.a. 6.50 to 7.65% p.a. 6.50 to 7.60% p.a.
Bank of Baroda 6.50 to 8% p.a. 6.50 to 8% p.a. 6.50 to 8.25% p.a.
Union Bank of India 6.40 to 7.60% p.a. 6.40 to 7.65% p.a. 6.40 to 7.65% p.a.
IDFC First Bank 6.90% p.a. onwards 6.90% p.a. onwards 6.90% p.a. onwards
L&T Housing Finance 6.75 to7.75% p.a. 6.75 to 7.75% p.a. 6.75 to 7.75% p.a.
Bajaj Finserv 6.65 to 14% p.a. 6.65 to 14% p.a. 6.65 to 14% p.a.
Godrej Housing Finance 6.59% p.a. onwards 6.59% p.a. onwards 6.59% p.a. onwards
Tata Capital 6.70% p.a. onwards 6.70% p.a. onwards 6.70% p.a. onwards
LIC Housing Finance 6.75 to 7.85% p.a. 6.70 to 8.05% p.a. 6.70 to 8.05% p.a.

Standard Chartered Bank Home Loan Customer Care Number

You can contact the customer care of Standard Chartered Bank by the following ways:

Standard Chartered Bank Customer Care Email Address: [email protected]

Standard Chartered Bank Customer Care Chat Option: There are text, video, and audio chat available for customers.

Standard Chartered Bank Customer Care SMS Number: 9980033333

Standard Chartered Bank Customer Care Phone Banking Number: The customer care phone banking numbers are different for different zones.

Cities Customer Care Phone Banking Number
Ludhiana, Jalandhar, Chandigarh, Amritsar, Bhopal, Indore, Surat, Rajkot, Vadodara, Jaipur, Kanpur, Allahabad, Lucknow, Cochin/Ernakulam, Coimbatore, Nagpur, Patna, Bhubaneswar. 6601 444 or 3940 444
Siliguri 1800 345 5000 (For India only)
Gurgaon, Noida 011 – 39404444 or 011 – 66014444
Bangalore, Chennai, Ahmedabad, Hyderabad, Delhi, Kolkata, Pune, Mumbai 6601 4444 or 3940 4444
Jalgaon, Mathura, Saharanpur, Dehradun, Guwahati, Mysore, Visakhapatnam, Cuttack, Proddatur, Thiruvananthapuram, 1800 345 1000 (For India only)

FAQs

From refinancing to reducing your interest, we have the answers right here.

Is a Home Loan A Tax-Saving Deduction?

Yes, a home loan can be used for tax-saving deduction.

What Is The Minimum Salary For A Home Loan?

The minimum salary for a home loan is ₹6,00,000 annually.

Can I Take Two Home Loans At A Time?

Yes, you can avail of two home loans in India because there is no law that states that only one home loan is applicable at a time.

When Does The Loan Repayment Period Start?

The loan repayments start from the month following the month in which you receive the full loan amount.

Does Standard Chartered Bank Provide Home Loan at the best rate?

The current rates for Standard Chartered bank have a home loan interest rate of 6.99% annually.

Does Standard Chartered Bank have a fixed rate of interest on a home loan?

Yes, Standard Chartered Bank provides a fixed rate of interest on home loans.

How to apply for Standard Chartered Bank home loan online?

To apply for a home loan in Standard Chartered Bank online you have to visit its website. Hover over the option You’re in India and select the option of Personal Banking. Click on the Home loans Option. Again click on the Apply Now option on the top left side of the screen. Now, fill out the given form.

How to check Home Loan Status in Standard Chartered Bank?

To check home loan status in Standard Chartered Bank, you can either visit the branch office or call on the numbers 6601 4444 / 3940 4444.

Does Standard Chartered Bank check for CIBIL Score for Home Loan?

Yes, Standard Chartered bank requires a CIBIL score of 650 to become eligible for home loans.

What is the maximum and minimum home loan amount I can get from Standard Chartered Bank?

The minimum home loan amount is 10 lakh and the maximum home loan amount is Rs. 35 crores.

What are the KYC documents I will have to submit to apply for a home loan from Standard Chartered Bank?

For KYC you have to submit the following documents: Aadhaar card, PAN card, Passport, Driving Licence, Voter ID card, and many others.

Is Balance Transfer available in Standard Chartered Bank for Home Loan?

Yes, balance transfer is available in Standard Chartered Bank for Home Loan.

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