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Standard Chartered Home Loan

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Product Rating

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Total - 327 ratings

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Loan Amount

Minimum - 5 Lakhs

Maximum - 35 crores

Location

PAN India

ROI

Ranging from 8.05% - 9.50%


Processing Fees

Up to 1% of the loan amount or ₹3,000, whichever is higher, plus applicable taxes.

Loan Repayment Tenure

Up to 20 years

Re-Appraisal Of Loan After 6 Months From Sanction

Up to Rs 2,000 plus applicable taxes.

Owning a home is like a dream for everyone. But, whenever you think about living this dream, multiple factors or issues arise in your mind. Starting with home hunting and ending with financial assistance to purchase your dream home. So, while dealing with such situations, one should surely opt for standard chartered home loans, as they are the best in the market as of now because of the low and interesting interest rates.

With the help of a standard chartered home loan, you can make your dreams come true of buying your own home. They have a really quick and easy processing and disbursal process for home loans. This bank offers customized home loan options to their customers, which include buying new or old homes; home renovations; home transfers; and also an extension of the existing home. Standard Chartered home loans have two main key points: low processing fees and less paperwork. The standard chartered bank also offers various EMI payment methods too for loan applicants.


Let’s have a look at the table for a concise view.

Loan Amount

Minimum - 5 Lakhs

Maximum - 35 crores

Location

PAN India

ROI

Ranging from 8.05% - 9.50%


Processing Fees

Up to 1% of the loan amount or ₹3,000, whichever is higher, plus applicable taxes.

Loan Repayment Tenure

Up to 20 years

Re-Appraisal Of Loan After 6 Months From Sanction

Up to Rs 2,000 plus applicable taxes.

Different types of home loans at the Standard Chartered Bank

Standard Chartered offers various kinds of home loan packages to their customers, suiting their needs and requirements as per their needs and requirements. The 3 main categories of the standard chartered home loan categories are mentioned below:

Home saver standard chartered home loan

In this type of home loan, the borrower gets an option to repay the home loan at half the loan cost and also within the half repayment home loan tenure. By going this way, the monthly rate of interest is calculated based on the daily reducing balance loan amount.

Standard chartered home loan for NRIs

Standard Chartered also provides NRIs with the option of obtaining home loan benefits to either purchase a new home or for any type of construction or renovation in their existing home.


Top-up loan

Along with ongoing home loans, Standard Chartered also provides their customers with the option of extending the existing loan amounts. The best part of the top-up loan is that the loan amount can be up to 100% of the original standard chartered home loan amount with either equal to longer loan tenure.


Documents Required

List of common documents

  1. Duly completed application form with a photograph

  2. Identity proof - PAN Card

  3. Address proof - Adhaar Card

  4. Age proof-should be any of these: PAN Card, birth certificate, passport


Additional documents

For salaried individuals

  1. Salary slips of last 3 months

  2. Form 16 of last 2 years

  3. ITR reports of the last 2 years

  4. Appointment letter by the employer

  5. Promotion or compensation letter by the employer if any

  6. Bank account statement of last 6 months

    1. Identity card from the employer

For self-employed

  1. Tax return reports of the last 2 years

  2. Business establishment certificate

  3. Bank statements for the last 6 months

  4. The complete profile of the business

Eligibility Criteria

For salaried employees

  1. The age of the applicant should be between 21 - 60 years

  2. The monthly income should be at least RS. 25,000

  3. The applicant should have at least 2 years of work experience with the recent employer

  4. The minimum CIBIL score should be 700

  5. The loan amount should be between Rs. 15 lakhs - Rs. 10 crores

  6. The applicant should be filling IT for the last 2 years

For self-employed

  1. The age of the loan applicant should be between 21 - 65 years

  2. The loan applicant's monthly income should be at least Rs. 25000, and his or her annual income should be at least Rs. 3 lakhs.

  3. The business of the applicant should be running smoothly for the last 3 years

  4. The minimum CIBIL score should be 700

  5. The loan amount should be between Rs. 15 lakhs - Rs. 20 crores

  6. The applicant should be filling ITR for the last 3 years.


FREQUENTLY ASKED QUESTIONS

Have a question? We've got answers!

No, the standard chartered bank does not refund the home loan processing fee in case the loan request gets rejected.

Your immediate family members can become your co-applicants on your standard chartered home loans.

They take 5 working days to process your home loan.

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