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.
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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
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 |
|
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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
- Salary slips for the last 2 months
- Latest Form 16/ Latest Income Tax Returns
- Bank Statements/ GST Returns for the last 3 months
- 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
- 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
- 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 |
|
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.
For the latest Home Loan Interest rates and updates in Eligibility criteria, Home Loan offers, Home Loan application Fee and Charges, Required Documents, and other FAQs related to Home Loans, please refer to the official website of Standard Chartered Bank Home Loans.
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.