Standard Chartered Bank Personal Loan Highlights
|Interest rate||Starting at 11.00% p.a.|
|Loan Amount||Up to Rs. 50 lakh|
|Loan Tenure||Up to 60 months|
|Processing Fees||1% of the loan amount|
|Minimum Eligible Age||22 years at the time of application|
|Foreclosure Charges||Up to 5% of principal prepaid|
Standard Chartered offers personal loans to individuals seeking finance to fund their personal or business expense including going on a vacation, purchasing consumer durables or gadgets, paying medical bills, renovating the home, etc. Standard Chartered personal loans can be availed for an amount up to Rs. 50 lakh and can be repaid within the flexible tenure of up to 60 months.
- Loan Amount: Standard Chartered Bank offers personal loans up to Rs. 50 Lakh, depending on the eligibility, income and repayment capacity of the applicant
- Flexible Tenure: Standard Chartered offers personal loan borrowers the option to repay loans within a period ranging from 12 months to a maximum of 60 months so that borrowers can choose a tenure as per their repayment capacity and requirement
- Minimum Documentation: Keeping in mind the convenience of its customers, Standard Chartered bank provides loans featuring a simple paperless documentation process that allows the customers to upload their loan application and supporting documents online
- Low Processing Fees: With Standard Chartered Bank personal loans, you pay processing fees of 1% of the loan amount. You may also be eligible for an additional discount in case of an online application.
- Last EMI Waiver: Standard Chartered personal loans are currently available with a facility of waiver of the last loan EMI in case loan tenure is 36 months, 48 months or 60 months.
The interest rate of Standard Chartered Personal Loan starts from 11.00% p.a. and varies from person to person based on applicant’s credit score, employer (listed/unlisted company salaried employee, self-employed, etc.), loan amount, age, etc.
The following are some of the key eligibility criteria for a personal loan offered by Standard Chartered Bank:
- You should be at least 22 years old
- You should either be a salaried professional or a self-employed individual
- You should meet the minimum net monthly salary criteria of Rs. 22,000
Documents Required for Loan Application
The mandatory documents required to apply for Standard Chartered Personal Loan are mentioned below. However, the bank may also ask for some additional documents, if required.
- Identity proof (any one): Aadhaar, PAN, Passport, Driving License, Voter ID Card, Photo Ration Card
- Address proof (at least one): Passport, Telephone Bill, Ration Card, Electricity Bill, Life/Medical Insurance Policy, Driving License, Rental Agreement, Apartment Allotment Letter etc.
How to Apply For Standard Chartered Personal Loan with Paisabazaar.com?
With a few simple steps, you can apply for a Standard Chartered Bank personal loan through Paisabazaar.
- Fill Paisabazaar’s personal loan application form to compare and apply for a loan
- Fill in your details including income, employer, profession, etc. to know the suitable personal loan offers as per the chances of approval
- Either select the personal loan offer from Standard Chartered Bank (if applicable) or call Paisabazaar for assistance
- Get instant conditional e-approval on a Standard Chartered Bank personal loan online. Also, you will get a call from our customer care team to guide you through the application process if you are having any issues.
Why Apply for Personal Loans through Paisabazaar
- Offers from Top Lenders: Paisabazaar has more than 40 Banks/NBFCs/Fintech partners that provide the best available loan offers at one place.
- Compare & Choose: You can check and compare personal loan offers from top lenders on Paisabazaar in just a few clicks.
- Personalized solutions & certainty of approval: Paisabazaar arranges personal loan offers according to your credit score and other eligibility factors which help applicants choose the best offer and provide them with the certainty of loan approval.
- Pre-Approved Loans: You also get personalised pre-approved personal loan offers from time to time at Paisabazaar based on your credit health. These loans come with low processing fees, low interest rates and almost no documentation.
Unbiased Advice: Paisabazaar’s team of experts help users at every step by coordinating with lender Banks/NBFCs. In case you have any queries or need assistance, you get unbiased advice on our platform.
- Complete Digital Process: com is a digital-only organization that offers you completely digital processes to help you avail personal loans from the comfort of your homes. Even the paperwork is minimal and you get a completely digital experience.
- Document Pickup: In case physical documentation is required, a Paisabazaar representative will pick documents from your location on a mutually agreed date and time after you apply for the loan at no additional cost. You will not be required to physically visit the lender to submit your documents.
- End-to-end Assistance: Team Paisabazaar works in the background with the lenders and provides you all assistance right from selecting the loan option to getting the amount disbursed in your account.
Fees and Other Charges
The following are some of the key fees and charges apart from the interest rate associated with your Standard Chartered Bank personal loan application:
|Processing fee||1% of the loan amount|
|Pre-payment charges||0-12 Months: 5% of the Principal Outstanding|
13-24 Months: 4% of the Principal Outstanding
25-36 Months: 2% of the Principal Outstanding
More than 36 Months: 1% of the Principal Outstanding
|Late payment fees||Rs. 495 + GST|
|Swap charges||Rs. 500 + GST|
|Documentation and administration charges||In case of top-up loans, documentation charges starting at 2.5% of the net loan amount are payable|
Standard Chartered Personal Loan EMI Calculation
|Loan principal @ interest|
|1 year||2 years||3 years||4 years||5 years|
|2 lakh @ 11.99%||Rs. 17,768||Rs. 9,413||Rs. 6,641||Rs. 5,265||Rs. 4,447|
|3 lakh @ 12.12%||Rs. 26,672||Rs. 14,139||Rs. 9,982||Rs. 7,918||Rs. 6,692|
|6 lakh @ 13%||Rs. 53,590||Rs. 28,525||Rs. 20,216||Rs. 16,096||Rs. 13,651|
|9 lakh @ 13.5%||Rs. 80,596||Rs. 42,999||Rs. 30,541||Rs. 24,368||Rs. 20,708|