Standard Chartered Personal Loan

*Swap Charges: Swap Charges are for replacement of the ongoing payment method like the ECS/Standing Instruction to a new ECS/Standing Instruction.

Standard Chartered Personal Loan is convenient to avail and offers many benefits to the individuals:

• Flexible tenure: The personal loan provides a tenure period ranging from 12 months to a maximum of 60 months
• Easy to avail: These loans can be availed by individuals, whether salaried, non-salaried or self- employed. They can be simply availed by meeting certain pre-requisite conditions in the form of the inherent eligibility criteria
• Attractive Interest Rate: The interest rate of Standard Chartered Personal Loan is competitive as compared to the other Indian Banks and starts from 11.99%.
• Loan amount: Standard Chartered Bank offers personal loan amount from Rs 1 Lakh to Rs 30 Lakh, depending on the eligibility, income and repayment capacity of the loan applicant
• Easy repayment options: Standard Chartered provides for repayment of the loan through Electronic Clearing Service (ECS), PDC and Auto Debit Facility i.e. the EMI amount is debited directly from the applicant’s bank account
• Minimum documentation: Keeping in mind the convenience of its customers, Standard Chartered bank provides loans with a simple documentation process
• Top- up loan: It may so happen that the customer may require extra funds during the tenure of the loan. For that situation, the bank provides the facility to the customer to avail extra funds if he is an existing personal loan customer in the form of top up loans. However, these top up loans can be availed only after completion of a minimum of 9 months from the disbursement of the original loan amount

• Your minimum age should be 21 years.
• You should either be a salaried professional or a self- employed individual.
• You should meet the minimum monthly salary criteria set by the bank.

• Application Form with a self-attested photograph: The basic requirement is the application form which has to be filled correctly by the applicant stating all the required information. The borrower should ensure that the filled details are duly supported by the other required documents. The form should also contain a clear photograph of the individual signed across by the applicant
• An Identity Proof: Copy of Driving License/Passport/Voter’s ID Card
• Address Proof: Copy of Ration Card / Electricity or Telephone Bill / Rental Agreement / Passport / Medical insurance policy / Apartment allotment letter.
• The borrower’s age proof would be required which can be the Pan Card or the Passport Copy
• Signature proof: PAN card / Driver’s license / Passport copy / Banker’s attestation Bank account statements. Any one of the document can be submitted. However, the applicant’s signature in the provided document should be clear and understandable. The applicant needs to maintain the same signature throughout the loan period
• Last 3 months’ bank statement or latest ITR or Form 16
• Latest Salary Slip or current dated Salary Certificate with latest Form 16 is required in case of salaried employees to check their current level of income and match it against the minimum required level of income as per the eligibility standards
• Processing Fee Cheque: The bank charges a minimal amount for processing the loan. An applicant has to submit the same along with other documents at the time of loan application

Prepayment is a facility offered by the Standard Chartered bank wherein the customer can repay the entire loan amount before completion of the decided tenure. However, certain things are to be kept in mind before opting for this option.

• Prepayment facility can be availed only after completion of 12 months of availing the loan i.e. a minimum of 12 months gap has to be kept between the loan issuance date and the repayment date
• The applicant has to give the bank 21 days’ notice in advance
• The applicant has to prepay the amount in accordance with the quote provided by the bank
• In case, the applicant fails to give the bank a prior notice, then he/she will have to pay an amount equivalent to one month’s interest on the loan or the amount as decided by the bank
• The interest, fees and other charges are calculated till the last day of the prepayment month. The prepayment charges stand at 5% of the principal outstanding amount. These charges are exclusive of service tax. Service taxes and other statutory taxes as applicable will be levied above the mentioned charges
• The customer has to make the prepayments in full i.e. the principal amount along with all the accrued interests and charges along with any other applicable fee at one go. He/she cannot opt for part prepayment option

If you are planning to avail Standard Chartered personal loan, apply through Paisabazaar.com by following the below mentioned steps:

Step 1: Fill up an online application form
Step 2: Your application would be sent to the bank for review
Step3: The bank will process your loan application and will contact you for further formalities.

• Extensive choice: At Paisabazaar, you can explore personal loans offered by various banks and NBFCs. This convenient feature available at Paisabazaar saves time and effort
• Compare before you choose: Paisabazaar not only allows you to explore personal loan by various lenders but also lets you compare the interest rate, loan amount, tenure, processing fee and other terms and conditions that are offered by them. This way, you get to choose the appropriate loan option as per your convenience.
• Quick to apply:The process to apply for a personal loan is completely digitalized at Paisabazaar. You can apply for the desired personal loan from the comfort of your home or office without any inconvenience.
• Complete assistance:The customer care team of Paisabazaar offers you full assistance throughout your loan application and approval process. If you have any query, you can get in touch with the executives to get an instant solution.

• One can check the EMI for their Personal Loan using our Personal Loan EMI calculator that gives you monthly EMI amount on the basis of the following three basic details: Loan Amount
• Loan Tenure
• Interest Rate

On sharing the above details, the EMI calculator will tell you the monthly EMI that will be invested every month on the Personal Loan.

Loan Applicants can call on the below mentioned Phone number for personal banking:

The additional benefits offered by Standards Chartered are:

• The bank also provides its customers certain additional services such as balance transfer program, funds transfer programs or other services which are available with the bank at the given time
• The top up loans issued in accordance to the existing loans are treated as a separate loan
• The availed funds can only be used for the mentioned purpose. An applicant cannot use the funds for further investment
• In case the applicant wishes to cancel the loan, he/she can do so by paying a minimal cancellation fee
• The interest rate or the default rate of the loan may vary depending upon the prevailing market rates. These fluctuations will affect the instalment amount and the number of instalments
• The bank at any point of time can demand immediate payment of the loan in full along with all the accrued interest, charges and fees in connection with the loan
• The bank at its sole discretion may choose to use the given instalments to set off the accrued interest rather than using the amount against the outstanding principal amount i.e. the bank may use a larger proportion of one or more instalments towards the settlement of interests accrued instead of the principal amount to be paid by the borrower