Standard Chartered Bank Home Loan

Make your dream to own a home come true with the financial services offered by Standard Chartered Bank. Standard Chartered Bank home loan interest rate starts at 8.75% per annum. The maximum tenure offered for repayment is 35 years. Standard Chartered Housing Loans are offered at a processing fee between 0.50% to 1% of the loan amount. Some popular SCB or Standard Chartered Bank offerings are Home Pack Loans, Home Loans, Home Saver Loans, and Mortgage Loans Against Property. Standard Chartered Bank offers all these housing loans to Indian residents, and the applicant has a choice between floater and fixed rate basis.

Standard Chartered Home Loan EMI Calculator

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Your monthly EMI is

Total Amount Payable

  • Principal Amount

  • Total Interest

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Standard Chartered Bank Home Loan Key Highlights

Get the lowest interest rates with Standard Chartered Bank

Loan Amount Up to Rs. 35 crores
Rate of Interest Starts at 8.75% per annum
RPLR
Processing Fee

0.50% to 1% of the loan amount

Maximum Tenure for Repayment 35 years
Penal Rate of Interest
Rate Packages Floater/ Fixed
Charges for Prepayment/Foreclosure Floater: Nil | Fixed: 2.5% of the outstanding principal

Standard Chartered Bank Home Loan Interest Rates in 2024

Both salaried and self-employed borrowers can apply for hassle-free home loans from Standard Chartered Bank at attractive interest rates that start at 8.75% per annum. It may go up depending on the plan chosen by the applicant and their repayment capacity and tenure. The table below shows the current Standard Chartered home loan interest rate 2023:

Loan Slab Interest Rate for Home Loan
Floater Plan (For Salaried) Starting at 8.75% per annum 
Floater Plan (For Self Employed) Starting at 8.75% per annum 
Fixed Plan (For Salaried) Starting at 8.75% per annum 
Fixed Plan (For Self Employed) Starting at 8.75% per annum 

Interest rates were last updated on 20th September 2023

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Standard Chartered Bank Home Loan Eligibility Criteria

Both salaried and self-employed applicants can get easy home loan approvals from SCB. The Standard Chartered Bank home loan eligibility criteria are based on age, nationality, work experience, and minimum experience. The table below highlights all the main eligibility criteria for Standard Chartered Bank home loans:

 

Eligibility Parameters For Salaried Individuals For Self-Employed Individuals
Age Range (in years) 23 - 63 Years 23 - 70 Years
Nationality Indian Resident Indian Resident
Minimum Income Earned Rs. 6 lakhs per annum Rs. 6 lakhs per annum

Standard Chartered Bank Home Loan Processing Fee and Charges

Standard Chartered home loan processing fee is between 0.50% to 1% of the loan amount. Apart from this, the bank also has some other charges related to home loans, like conversion charges, foreclosure charges, penal interest, and EMI or cheque bounce charges. The table below highlights the fees levied by Standard Chartered Bank on housing loan schemes:

Processing Fee

Up to 1% of the loan amount

CERSAI Charges

As per actuals

EMI/ Cheque Bounce Charges

Rs. 495 per instance

Conversion Charges

Up to 1% of the outstanding principal

Penal Interest or Late Fee Charges

24% per annum

Foreclosure/ Prepayment Charges
  • Floater: Nil
  • Fixed: 2.5% of the outstanding principal
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Standard Chartered Bank Home Loan Schemes and Top Plans

Standard Chartered Bank offers smart home loan schemes to meet the needs of varied homeowners. Have a look at the popular Standard Chartered housing loan schemes:

1. Standard Chartered Bank Home Loans

  • Home loan scheme with a faster repayment option
  • Up to 2% cashback based on the applicant’s repayment history
  • Maximum loan repayment tenure of up to 25 years
  • Maximum loan amount of up to Rs. 35 crores

2. Standard Chartered Home Pack Loans

  • The best way to take care of all your insurance needs, as it contains a householder package or mortgage reduced term assurance
  • An amazing combo of a home loan, credit card, and a savings or current account 
  • Credit card comes with a perpetual annual fee waiver

3. Standard Chartered Home Saver Loans

  • Lower interest rates 
  • Flexible balance transfer option
  • Interesting top-up facility available
  • Offered with a complimentary international debit card

4. Standard Chartered Mortgage Loans Against Property

  • Maximum loan amount of up to 70% of the property value
  • Applicable both for residential and commercial properties
  • Flexible loan repayment options

Note: All of the above home loan plans are made available to applicants solely at the discretion of Standard Chartered Bank Home Loan, taking into consideration the earning and repayment capacity of the applicant.

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Documents Required For Standard Chartered Bank Home Loan

To get a home loan from Standard Chartered Bank, you must submit a set of KYC documents to prove your age, nationality, employment, address, and other similar parameters. Here is the list of Standard Chartered home loan documents required for your reference:

Documents Required for Salaried Applicants

Proof of Income
  • Salary slips for the last 2 months
  • Latest Form 16/ Latest Income Tax Returns
  • Bank Statements/ GST Returns for the last 3 months
Other Required Documents
  • Duly filled and signed application form with a passport-size photograph
  • A processing fee cheque in favor of Standard Chartered Bank Home Loans

Documents Required for Self-Employed Applicants

Proof of Income
  • Business Address Proof
  • Profit and Loss Account Statements for the last 2 years attested by a CA
  • Balance sheet for the past 2  years
  • ITR for the last 2 years
  • Audit Reports for the last 2 years
Other Required Documents
  • Duly filled and signed application form with a passport-size photograph
  • A processing fee cheque in favor of Standard Chartered Bank Home Loans

Common Documents Required from Both Salaried and Self-Employed Applicants

Type of Document Documents Required
Identity & Address Proof

Voter ID, Driving License, Aadhaar Card, Copy of Passport, PAN Card

Documents Related to Property
  • Sale Deed, Allotment Letter
  • Certificate of Occupancy
  • Payment receipts for payments made to the builder
  • Permission to construct
  • Copy of approved plan
  • Registered Development Agreement of the builder
  • NOC (No Object Certificate from the builder or the housing society)
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How to Apply for a Standard Chartered Bank Home Loan?

The procedure for a Standard Chartered Bank home loan apply is quite simple and can be proceeded in the following manner:

  • Proceed to the APPLY NOW section on the website - BASIC Home Loan
  • Fill in the form by entering your Name and contact details and submit the form
  • The team from BASIC Home Loan will reach out to you to initiate a hassle-free Home Loan application process

Find Standard Chartered Bank Home Loan Offices Near You

If you are planning to visit one of the offices of Standard Chartered Bank Home Loans near you to understand the Standard Chartered Bank Loan Offer in detail and apply for the Home Loan, you can simply fill in the Free Consultation form and the team of BASIC Home Loan will reach out to you for needful assistance in the process.

Disclaimer:

Interest rates and fees on home loans vary based on eligibility and lender criteria. All applicable fees and charges are subject to relevant taxes and can change at the lender’s discretion. For the most current information on home loan interest rates, processing fees, other applicable charges, and updates on eligibility criteria and loan offers, please visit the official website of the bank.

FAQs

The interest rate of a home loan in Standard Chartered Bank starts at 8.75% per annum. However, we recommend you verify the same from the bank's official website.

The processing fee charges for Standard Chartered home loan ranges from 0.5% to 1% of the loan amount from each applicant.

The maximum loan amount you can get from Standard Chartered is up to Rs. 35 crores. The minimum loan amount granted by Standard Chartered Bank is Rs. 10 lakhs.

The applicant's spouse, parents or children can be a co-applicant of Standard Chartered home loan. Siblings, who are also the co-owners of the property, can also be the co-applicants for a SCB home loan.

The home loan processing fee is not refundable in Standard Chartered Bank if the loan is sanctioned. However, if the SCB cannot sanction your home loan application, it will refund the processing fee after deducting Rs. 2,000.

The minimum salary for a Standard Chartered home loan is Rs. 6,00,000 per annum.

The foreclosure changes for a Standard Chartered Bank Home Loan are nil for floater plans and 2.5% of the outstanding principal or fixed plans.

You can apply for a Standard Chartered Bank Home Loan by filling out the application form and submitting the required documents along with a processing fee. Alternatively, you may contact the BASICHomeloan team to assist you in the loan application procedure.