Standard Chartered Bank Personal Loan

Features & Benefits of Standard Chartered Bank Personal Loan

• The Standard Chartered Bank Personal Loan can be availed by non-salaried and salaried applicants.
• The bank does not require the applicant to provide a guarantor or security.
• Simple and quick application process.
• The customers can apply for this loan online and get instant approval.
• The loan amount will be disbursed to the account within seven days of verifying the application form.

Fulfill all your personal financial needs with the attractive Standard Chartered Bank Personal Loan, with minimal interest rates. These loans are available at interest rates starting at 11.99%  up to a maximum of Rs. 50 lakhs. These loans can be availed for flexible loan tenures up to 60 months. Further, the instant online approval feature makes this a truly unique loan offering.

• Seamless application process.
• No security or collateral is required.
• Flexible repayment plans.

Standard Chartered Bank Personal Loan Eligibility Criteria

All applicants over the age of 21 years old but less than 62 years old are eligible for this loan, regardless of their employment status.

Factors Affecting Standard Chartered Bank Personal Loan

Generally, banks and other financial institutions do not offer the same interest rate to all borrowers. The rate of interest offered to prospective borrowers varies according to various factors; some of the factors that affect the interest rates are:

• Income: The applicant’s income is one of the main factors affecting the interest rate for the personal loan. The fact that is known to everyone is that people with more disposable income have a better loan repayment capacity than those with lower incomes. People with higher income are usually granted lower interest rates.
• Credit Score: The applicant’s credit score goes a long way in determining the interest rates offered. The credit score is used to determine the applicant’s creditworthiness and repayment ability. This can be defined as the reflection of the overall financial health of the applicant. Applicants with a low credit score are more likely to get higher interest rates, while those with good credit scores might get low-interest rates.
• Employer’s Status: Since personal loans are an unsecured line of credit, the lenders consider various factors while deciding the loan amount and interest rate. One such factor that lenders consider is the applicant’s employer. If the applicant is employed by a reputable and trusted organisation, they are more likely to be granted low-interest rates, while those employed with blacklisted companies or organisations with a credit default history will get higher interest rates.
• History of Defaults: Like the credit score, if the lender finds irregularity or defaults in repayment history, it can lead to higher interest rates or rejection of loan applications.

Standard Chartered Bank Personal Loan Fees and Charges

Category	Fees
Loan Processing Charges	Up to 2.25% of the approved loan amount.
Prepayment Charges	Up to 5% of the outstanding loan amount.
Late Payment Fees	Rs. 495
Interest on arrears	2%/month
Swap Charges	Rs. 500

Standard Chartered Bank Personal Loan Interest Rates

Interest Rate	Starting at 11.99%
Loan Amount	Maximum amount of Rs. 50 lakhs
Loan Tenure	Maximum tenure of 60 months
Processing Fees	Up to 2.25% of the approved loan amount

Documents Required for Standard Chartered Bank Personal Loan

For Salaried Applicants

• Identity Proof Documents: Aadhaar Card, Voter ID, Passport, PAN Card, Ration card, etc.
• Address Proof Documents: Passport, Utility Bills, Rental Agreement Letter, Insurance Policy, Ration Card, etc.
• Last one month’s payslip.
• Bank account statement from the previous three months.

For Self-Employed Applicants

• Identity Proof Documents: Aadhaar Card, Voter ID, Passport, PAN Card, Ration card, etc.
• Address Proof Documents: Utility bills, Passport, Rent Agreement, Ration Card, passport, etc
• Copy of income tax returns from the last two financial years.
• Banking account statement from the last six months.

How Does the EMI Calculation Work for Standard Chartered Bank Personal Loans?

The EMI for a Standard Chartered Bank Personal Loan can be calculated on the Standard Chartered Bank online EMI calculator. Here you can see what your loan repayment will look like just by entering the desired loan amount and tenure. The website will provide the applicable interest rate, interest amount, monthly repayment, and total loan outflow.

How Does Standard Chartered Compare with Other Lenders?

Lenders	Interest Rate Offered
ICICI Bank	Up to 17.25%
Axis Bank	Starting at 10.5%
PNB	Starting at 8%
HSBC	Starting at 10%
Bank of India	Starting at 12.5%

Standard Chartered Bank Personal Loan Customer Care Number

City	Helpline Number
Delhi, Chennai, Bangalore, Mumbai, Pune, Kolkata, Ahmedabad, Hyderabad	6601 4444 / 3940 4444
Amritsar, Allahabad, Bhubaneshwar, Bhopal, Cochin, Chandigarh, Indore, Coimbatore, Jalandhar, Jaipur, Lucknow, Kanpur, Nagpur, Ludhiana, Rajkot, Patna, Surat	6601 444 / 3940 4444
Noida and Gurgaon	011 - 39404444 / 66014444
Guwahati, Jalgaon, Mysore, Trivandrum, Cuttack, Mathura, Visakhapatnam, Saharanpur, Dehradun	1800 345 1000
Siliguri	1800 345 5000