Urban Money

Standard Chartered Bank Personal Loan

Standard Chartered Bank
4.5

Fulfil 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.

  • Standard Chartered Bank
  • Personal Loan
Loan Amount:₹1L - ₹6L
Interest Rate:11.49%
Processing Fee: Up to 2.25%
Tenure:5 Years
Details
BanksInterest RateProcessing FeeLoan Amount/Tenure
Standard Chartered Bank

11.49%

Up to 2.25%

₹1L - ₹6L

Tenure(1 - 5 Years)

Details

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 

FAQs

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

What is the minimum salary requirement for a Standard Chartered Bank Personal loan?

There is no minimum salary requirement for a Standard Chartered Bank Personal loan.

Does Standard Chartered Bank check CIBIL score for Personal Loan?

Yes, Standard Chartered checks the CIBIL score of the applicant when they apply for a personal loan. The bank considers the credit score while granting loan amounts or determining the interest rate.

What are the benefits Standard Chartered Bank provides on Personal Loans?

Standard Chartered Bank offers the benefits of instant loan approval, flexible loan tenure, and easy online application.

What is the maximum loan amount for a Standard Chartered Bank Personal Loan?

The maximum loan amount granted for a Standard Chartered Bank personal loan is Rs. 50 lakhs.

Does Standard Chartered Bank have a fixed interest rate on a Personal Loan?

Standard Chartered Bank personal loan starts at an interest rate of 11.99%.

Get your latest Credit Score, FREE

Related Articles

Get in-depth knowledge about all things related to loans and your finances

Home Loan Interest Rates Spiked After RBI's Repo Hike
Shiv Kumar GuptaMay 12, 2022

Home Loan Interest Rates Spiked After RBI's Repo Hike

The Reserve Bank of India regulates the home loan criteria, which are constantly changing owing to numerous economic circumstances. Read the blog to learn more about the RBI and how its latest home loan guidelines wil

Read More
The Collateral World of Mortgaging Property
Satish PrajapatiJan 21, 2022

The Collateral World of Mortgaging Property

A mortgage is any immovable property that is given as a security or collateral against a loan for building a property. The party lending the money

Read More
The Definitive Guide: Acquire Home Loan From The Best Financial Banks
Satish PrajapatiJan 21, 2022

The Definitive Guide: Acquire Home Loan From The Best Financial Banks

The present year 2021 has been identified as a good year to invest in homes due to the lower interest rate on home loans as well as the reducti

Read More