Standard Chartered Bank Home Loan

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:

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

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

Self-Employed Documents

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:

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: customer.care@sc.com

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.