Standard Chartered Bank Personal Loan apply online
Standard Chartered is a British multinational banking and financial services company, holding a network of around 1,200 branches and outlets across more than 70 countries. Moreover, with a revenue of around $14.61 billion, this bank is considered as one of the most trustworthy lenders today. Over the years, the bank has created its own niche because of its unmatched services.
The bank has got a strong foothold in India’s personal loan space by bringing in customized offers for borrowers. When it comes to personal loan, this bank fulfills personal financial needs of all, such as home renovation, sudden travel or your friend’s marriage.
Standard Chartered Bank Personal Loan Key Features
| Eligibility Criteria | Details |
| Age | 23-58 yrs (at loan maturity) |
| CIBIL | 750 |
| Standard Chartered Bank Interest Rate | 9.99% per annum |
| Lowest EMI per lakh | Rs.2,169 |
| Tenure | 12 to 60 months |
| Standard Chartered Bank Processing Fee | 1% of the loan amount |
| Prepayment Charges | Up to 5% of the sum |
| Part Payment Charges | NIL |
| Minimum Loan Amount | Rs. 1 lakh |
| Maximum Loan Amount | Rs. 30 lakh |
Standard Chartered Bank Personal Loan Interest Rates, Charges
| Standard Chartered Bank Personal Loan Interest Rate | 9.99% per annum |
| Standard Chartered Bank Personal Loan Processing Charges | 1% of the loan amount |
| Prepayment Charges | Up to 5% of the sum |
| Stamp Duty | NIL |
| Cheque Bounce Charges | NIL |
| Penal Interest | NIL |
| Floating Rate of Interest | NIL |
Standard Chartered Bank Personal Loan Status
You can check the status of your Standard Chartered Bank Personal Loan by the following methods –
- You can visit your loan branch and ask the banker for the same.
- Log In to the Standard Chartered Bank Net banking Portal, Click on loans from the top ribbon and click on Enquire to check the status of your loan.
Standard Chartered Bank Personal Loan Eligibility Criteria
Personal Loan Eligibility Criteria:
| CIBIL score | 750 and above |
| Age | 23-58 yrs ( at loan maturity ) |
| Min Income | Rs. 15,000 |
| Occupation | Salaried/Self-Employed |
Standard Chartered Bank Fees:
| Category | Details |
| Standard Chartered Bank Personal Loan Interest Rate | 10.50% per annum |
| Standard Chartered Bank Personal Loan Processing Fee | 1% of the loan amount |
| Min ₹ 1000 and Max ₹ 25000 | |
| Prepayment | No prepayment is allowed until 12 EMIs are paid |
| Pre-closure | No foreclosure is allowed until 12 EMIs are paid |
| Prepayment Charges | 13-24 months: 4% of loan principal outstanding |
| 25-36 months: 3% of loan principal outstanding | |
| >36 months: 2% of loan principal outstanding | |
| Stamp Duty | As per state laws |
| Cheque Bounce Charges | ₹ 550/cheque + GST |
| Floating Rate of Interest | Not Applicable |
| Overdue EMI Interest | 2% p.m.(on overdue amount) |
| Amortization Schedule Charges | ₹ 200 + GST |
Standard Chartered Bank Personal Loan Documents Required
| Form | Duly filled application form |
| Proof of Identity | Copy of: > Passport > Driving License > Aadhaar Card > Voter ID Card |
| Proof of Address | Rent Agreement (Min. 1 year of stay) Utility Bills Passport (Proof of permanent residence) Ration card |
| Proof of Income | > ITR: Last two Assessment years > Salary Slip: Last 6 months > Bank Statement: Last 3 months |
Standard Chartered Bank Personal Loan EMI Calculator
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Standard Chartered Personal Loan EMI Calculator
When a person is looking for a personal loan, he/she will be concerned about the interest rates and the EMI that he/she will have to pay to the bank. Here at Standard Chartered Bank, personal loans are offered at attractive interest rates with flexible tenure that makes the payment convenient for the customers.
A loan EMI calculator is the tool that tells you the monthly installments that you have to pay to the corresponding lender against the loan. The personal loan EMI calculator takes into account the loan amount, tenure, and interest rates to figure out the installments that you’ve to pay.
An example below will help you understand it better
- Loan Amount- INR 2,00,000
- Tenure- 5 Years
- Rate of interest- 12% p.a.
Table Showing EMI, Interest Outgo, and Total Repayment Amount
| LOAN AMOUNT | INTEREST RATE | TENURE | MONTHLY INSTALMENT | TOTAL INTEREST AMOUNT | TOTAL AMOUNT |
|---|---|---|---|---|---|
| ₹ 2,00,000 | 12% | 1 | ₹ 17,770 | ₹ 13,237 | ₹ 2,13,237 |
| ₹ 2,00,000 | 12% | 2 | ₹ 9415 | ₹ 25,953 | ₹ 2,25,953 |
| ₹ 2,00,000 | 12% | 3 | ₹ 6643 | ₹ 39,143 | ₹ 2,39,143 |
| ₹ 2,00,000 | 12% | 4 | ₹ 5267 | ₹ 52,805 | ₹ 2,52,805 |
| ₹ 2,00,000 | 12% | 5 | ₹ 4449 | ₹ 66,933 | ₹ 2,66,933 |
EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
| YEAR | PRINCIPAL | INTEREST | BALANCE AMOUNT |
|---|---|---|---|
| 1 | ₹ 31,058 | ₹ 22,329 | ₹ 1,68,941 |
| 2 | ₹ 34,996 | ₹ 18,390 | ₹ 1,33,944 |
| 3 | ₹ 39,435 | ₹ 13,951 | ₹ 94,509 |
| 4 | ₹ 44,436 | ₹ 8950 | ₹ 50,072 |
| 5 | ₹ 50,116 | ₹ 3314 | ₹ 0 |
| Rate | 5 Yrs | 4 Yrs | 3 Yrs |
| 10.50% | 2149 | 2560 | 3250 |
| 11.00% | 2174 | 2584 | 3273 |
| 11.50% | 2199 | 2608 | 3297 |
| 12.00% | 2224 | 2633 | 3321 |
| 12.50% | 2249 | 2658 | 3345 |
| 13.00% | 2275 | 2682 | 3369 |
| 13.50% | 2300 | 2707 | 3393 |
| 14.00% | 2326 | 2732 | 3417 |
| 14.50% | 2352 | 2757 | 3442 |
| 15.00% | 2378 | 2783 | 3466 |
Standard Chartered Bank Personal Loan Compared to Other Banks
| Bank | Interest Rate | Tenure | Loan Amount & Proc Fee |
| Standard Chartered Bank | 9.99% | 12 to 60 months | Up to Rs. 30 lakh / Up to 3% of Loan Amount |
| HDFC Bank | 11.25% to 21.50% | 12 to 60 months | Up to Rs. 40 lakh / Up to 2.50% of the loan amount |
| Bajaj Finserv | Starting from 12.99% | 12 to 60 months | Up to Rs. 25 lakh / Up to 3.99% of the loan amount |
| Axis Bank | 15.75% to 24% | 12 to 60 months | Rs. 50,000 to Rs. 15 lakh / Up to 2% of the loan amount |
| Citibank | Starting from 10.99% | 12 to 60 months | Up to Rs. 30 lakh / Up to 3% of the loan amount |
| ICICI Bank | 11.50% to 19.25% | 12 to 60 months | Up to Rs. 20 lakh / Up to 2.25% of the loan amount |
Why should you apply for Standard Chartered Bank Personal Loan with us?
National Info is India’s first financial helpline number. National Info has the most trustworthy agents all over the country. If you apply for Standard Chartered Bank Personal Loan with National Info, you will apply for your loan approves faster.
How to Calculate EMIs for Standard Chartered Bank Personal Loan
For the calculation of your Standard Chartered Bank Personal Loan EMI, the information required is given below:
- Loan Amount
- Rate of Interest
- Tenure
Put these values in the calculator below and find your monthly EMIs
Standard Chartered Bank Personal Loan Processing Time
Standard Chartered Bank Personal Loan Processing Time is the bank’s time for your loan application approval. Two days is the processing time for this bank.
Standard Chartered Bank Personal Loan Pre-closure charges
Standard Chartered Bank Personal Loan Pre-closure is the repayment of the loan amount before the loan tenure. Preclosure lowers the interest rate of your loan.
Documents Required for Pre-closure of Standard Chartered Bank Personal Loan
Generally, the following documents are required to foreclose your Standard Chartered Bank personal loan:
- A valid photo identity proof
- Loan Account Statement
- Cheque/ demand draft/ cash to make the payment
Standard Chartered Bank Personal Loan Foreclosure Benefits
Given below are a few key benefits of foreclosing your Standard Chartered Bank personal loan:
Foreclosure / Full Prepayment
- Helps you save on the overall interest payout.
- Frees you from the burden of regular loan repayments.
Partial Prepayment
- It enables you to save on the interest component.
- You also have the advantage of either paying a reduced EMI amount or having a shorter loan tenure.
Standard Chartered Bank Prepayment Facility
The bank also offers prepaid accommodation to help customers pay the full amount or part of it. If you have a balance left over and you meet the conditions below you can pay part of your principal balance to reduce the same. This will also help save interest on accumulated capital. Find out more about the facility below.
Note:
- Prepayment will be allowed subject to the effective payment of the first 12 EMIs.
- Prepayments will be allowed twice the entire loan period.
- Prepayment is allowed only once a year.
- At any time, the advance payment will not exceed 25% of the Principal Outstanding
Prepayments.
Charges:
- 13-24 months – 4% of the outstanding loan balance
- 25-36 months – 3% of the outstanding loan balance
- Over 36 months – 2% of the outstanding loan balance
Standard Chartered Bank Pre Calculated EMI for Personal Loan
| Rate | 5 Yrs | 4 Yrs | 3 Yrs |
| 10.50% | 2149 | 2560 | 3250 |
| 11.00% | 2174 | 2584 | 3273 |
| 11.50% | 2199 | 2608 | 3297 |
| 12.00% | 2224 | 2633 | 3321 |
| 12.50% | 2249 | 2658 | 3345 |
| 13.00% | 2275 | 2682 | 3369 |
| 13.50% | 2300 | 2707 | 3393 |
| 14.00% | 2326 | 2732 | 3417 |
| 14.50% | 2352 | 2757 | 3442 |
| 15.00% | 2378 | 2783 | 3466 |
Standard Chartered Bank Personal Loan for Salaried Employees
Standard Chartered Bank offers Personal Loan for Salaried Employees at attractive rates of interest. The amount that you get a loan depends on the Company that you work for, The take-home salary of the employee, and the city of residence of the employee. Standard Chartered Bank offers these loans for a tenure of 12-60 months and provides instant approval along with funds to pre-approved customers.
Standard Chartered Bank Personal Loan for Self Employed Individuals
Standard Chartered Bank’s Personal Loan for Self Employees is a loan product offered to self-employed individuals and in need of funds. The bank provides them with attractive rates of interest on their personal loan and tenure of 12-60 months. However, as compared to Salaried Employees, you have to present more documents here as you need to provide the bank with sufficient documents related to your business to prove its continuity as well as your steady income.
Standard Chartered Bank Personal Loan for TCS Employees
- Exclusive personal loans with a reasonable interest rate of 11.25% p.a.
- EMI for personal loans starts at Rs.2178 per lakh when terms and conditions are met.
- The hassle-free documentation process for TCS employees.
- Pre-approved personal loans for eligible TCS employees.
- Interest rate starting at 11.99% p.a for superbike loans.
- Great offers on home loans with an interest rate of 9.45% p.a and discount interest rate for women at Rs.9.40% p.a.
How to Get a Personal Loan from Standard Chartered Bank?
As the lockdown is imposed by the government considering the spread of the COVID-19 pandemic in India, Standard Chartered Bank has some opportunities for you in this tough period. What’s that? If you have a salary or savings account with Standard Chartered Bank, you can get an attractive personal loan to meet your needs.
Standard Chartered Bank Moratorium Process
The process for setting up your Standard Chartered Bank loan EMIs is as follows-
- Visit the Standard Chartered Bank website or use the mobile app
- Click on the link where the suspension period appears
- On the application page, state your registered mobile number, name, email address
- Then enter your birthday and choose the type of loan
- Enter your loan number and state your EMI value
- Then make a decision and choose the right app
- Click on the EMI reversal option that says I agree to pay interest earned on the remaining balance
- Click the ‘Submit’ button
- The bank will review the details and process your application for suspension
- You will be given a reference when successfully completing the process on your registered number and email address
Standard Chartered Bank Personal Loan Special Pricing
If a customer is looking for INR 15 lakh of the loan amount or more than that below rates would be applicable.
| Loan Amount | IRR | Processing Fee (+GST) |
|---|---|---|
| Loan amount >=15 lakh* | 10.50% | INR 3999 |
*Terms & conditions apply
This offer is not applicable for Top-up/ Enhancement/ Existing loan amount closure.
If a customer is looking for a Balance transfer and a fresh loan of above INR 10 lakh above, the below offer is available.
| NTH | Loan Amount | IRR | Processing Fee (+GST) |
|---|---|---|---|
| >=50000 | Loan amount >=10 lakh* | 10.50% | INR 3999 |
*Terms & conditions apply
- Not applicable on Existing loan closure
- Not applicable for Credit card BT
Different Personal Loan offers by Standard Chartered Bank
Standard Chartered Bank Marriage Loan
Marriages are one of the costliest events in Indian households. Standard Chartered Bank has personal loan offers with a low interest rate and high loan quantum to meet your wedding expenses.
Standard Chartered Bank Personal Loan for Government Employees
Government employees can apply for a Standard Chartered Bank personal loan to meet their financial expenses. The bank has personal loan offers to meet your different monetary needs.
Standard Chartered Bank Personal Loan Offers for Government Employees
| Offers By Government | Number of Companies | Processing Fee(% of the Loan Amount | IRR |
| Miniratna, Navratna, and Maharasthra | 55 | 1.50% | 13.49% |
| 11.49% | |||
| 10.99% | |||
| Pensioner | All | 1.50% | 14.75% |
| Employees from the Railway Department | All | 1.50% | 16.50% |
| 15.00% | |||
| 14.25% | |||
| CISF, CRPF, ITBP, SSB and BSF | All | 1.50% | 14.75% |
State and Central Government Officers:
| Section | Salary | Processing charge | IRR |
| Government Officer Division A (GA) and Division B (GB) | NTH>24k | 2% | 16.75% |
| NTH>35k | 2% | 15% | |
| NTH>50k | 1.75% | 14.75% |
Standard Chartered Bank Doctor Loan
Doctors and medical professionals can apply for a personal loan from Standard Chartered Bank and enjoy a range of offers and deals curated to their personal and professional needs.
Standard Chartered Bank Personal Loan for Pensioners
Government employees can fulfil their post-retirement financial needs by applying for a personal loan with Standard Chartered Bank. The bank has special offers for all the pensioners with their pension account with the bank.
Standard Chartered Bank Balance Transfer
Standard Chartered Bank Personal Loan Balance Transfer is the transfer of loan amount from one institution to another. Balance transfer helps in lowers the interest rate of your loan amount.
Standard Chartered Bank Loan Top Up
Standard Chartered Bank Personal Loan Top Up is the additional amount that adds up to your existing loan amount. Top-up loans can avail when you have paid 12 EMIs without any delay.
Standard Chartered Bank Personal Loan Overdraft Facility
An individual overdraft is a credit office that licenses you to pull out an all-out as and when required. You can in like way repay the got out absolutely at whatever point the condition is ideal. From this time forward, it is maybe the most preferred credit decisions that profited to meet changing individual supporting necessities unbounded.
Apply for an overdraft office as a Standard Chartered Bank for an unexpected new turn of events. The adaptable improvement office has all the colossal features of a slight overdraft credit.
Standard Chartered Bank Home Renovation Loan
Standard Chartered Bank offers home remodelling loans for clients who plan to have their houses renovated. This personal loan would fund essential repairs or allow the borrower to bring new appliances, fixtures, and furniture into their home. Four of the main features of the Standard Chartered Bank Home Renovation Loan are:
- The home improvement loan interest rate begins at as low as 11.25 percent for Standard Chartered Bank.
- Individuals may apply to renovate their house for a credit amount of up to Rs. 20 Lakh.
- The home improvement loan from Standard Chartered Bank requires minimal paperwork that makes the entire loan process hassle-free.
- Usually, the loan amount is credited to the account within 72 hours after the bank approves the application.
Standard Chartered Bank Holiday Loan
The Standard Chartered Bank Holiday Loan will help you prepare for your ideal voyage with minimal disruption. This personal loan from the Standard Chartered Bank will cover a range of holiday expenses, including booking a flight ticket, hotel accommodation, guided tours, etc. The main features of the Standard Chartered Bank vacation loan are:
- The interest rates on holiday loans start at 11.25 percent p.a.
- An amount of up to Rs 20 Lakh can conveniently be used so that a financial crisis will not ruin your dream holiday.
- Simplified and Minimal paperwork allows funding the holiday efficiently and effectively.
- Quick processing and disbursement of credit, which is credited to your account directly.
Standard Chartered Bank Fresher Funding
People with a regular income are often targeted for unsecured personal loans, but Standard Chartered Bank’s Fresher Funding is different. This loan option from Standard Chartered Bank is designed to support beginners, i.e. recent graduates seeking their first work. Some key features of the Standard Chartered Bank Fresher Funding personal loan include the following:
- Sum of up to Rs 1.5 lakh loans
- It should have been at least 21 years of age for the candidate.
- The interest rate for Fresher Funding relies on the profile of the loan borrower, the credit history/score of the applicant, age, and place.
Standard Chartered Bank NRI Personal Loan
Standard Chartered Bank only gives NRIs an exclusive loan, knowing the NRIs’ hopes and dreams. The primary loan candidate must be an Indian citizen, and an associated relative must be the co-applicant NRI. The following characteristics include NRIs Personal Loan
- With scalable end-use NRIs of up to Rs. 10 lakh, Standard Chartered Bank makes private loans available.
- The interest rates of NRI Personal Loans start at 15.49 percent p.a.
- For a term of up to 36 months, the loan is.
Standard Chartered Bank Personal Loan Preclosure Online
Standard Chartered Bank enables a Personal loan borrower to make a pre-closure or a pre-payment of a loan. However, you will be able to prepay your Standard Chartered Bank Personal Loan only after 12 months after you have procured your loan and after paying 12 EMIs plus the foreclosure charges that may be applicable. If you meet this requirement, you can repay your personal loan before the original due date and close your loan early.
Standard Chartered Bank Personal Loan Process Steps
Step 1: Determine your requirement
Figure out why you need a Personal Loan and how much you need. For example, you may need a loan to fund your wedding or to renovate your home. And you may need just Rs. 1 lac or Rs. 10 lac.
Step 2: Check loan eligibility
Once you know how much you need, you should check whether you are eligible. You can visit the Standard Chartered Bank Personal Loan Eligibility Criteria online, to find out how much you can borrow as a Personal Loan. Standard Chartered Bank offers loans up to Rs. 40 lac.
Step 3: Calculate monthly instalments
Use an online EMI tool to calculate your approximate loan repayments every month. You can modify the interest rate and tenure to match your monthly income, like on the Standard Chartered Bank Personal Loan EMI Calculator. Standard Chartered Bank offers pocket-friendly EMIs on all its Personal Loans starting at Rs. 2149 per lac * (T&C).
Step 4: Approach the bank
You can apply for a Personal Loan with Standard Chartered Bank in various ways: Via Net Baning, online on the Standard Chartered Bank website, at an ATM, or by visiting a branch.
Step 5: Submit documents
Next, find out what documents are required for a Personal Loan. You will usually need income proof (bank statements, salary slips or IT returns), address proof, and ID proof. Hand over copies of your Personal Loan documents at the bank.
Wait for funds to be remitted to your account. Standard Chartered Bank disburses funds for pre-approved loans to customers in 10 seconds*, and for non-Standard Chartered Bank customers in 4 hours.
That’s how to get a Personal Loan in 5 easy steps!
Standard Chartered Bank Personal Loan Prepayment Charges
If you are a salaried applicant, you can pre-pay your Standard Chartered Bank Personal Loan only after paying 12 equated monthly instalments completely.
The pre-payment charges for salaried applicants are as follows:
- 4% of the outstanding principal amount for 13 to 24 months.
- 5% of the outstanding principal amount for 25 to 36 months.
- 2% of the outstanding principal amount for more than 36 months.
Standard Chartered Personal Loan Customer Care
If you have any concern, query, complaint or feedback, all you need to do is simply get in touch with the customer care executives at their call center. These experts use their expertise to solve all your issues. You can anytime get in touch with them and resolve all your matters. They are always there to listen to all your problems and are here to give you the best solutions. With their friendly nature, these customer care executives are always there to support and guide you so that you can enjoy the best loan journey without any hassle.
Standard Chartered Personal Loan Preclosure Charges
If an applicant wants to pre-close the loan before the set period, he/she can do so at Standard Chartered Bank Yes, the moment you have enough surplus in hand, you can pre-close your loan before the set tenure and save a lot of money. After paying the 6 or 9 EMIs, you can ask a bank to pre-close your loan. However, banks usually charge a preclosure fee for the same and if you want to pre-close your personal loan in Standard Chartered, you need to pay a fee of 5% of the principal outstanding+GST. The same fee has been charged on the outstanding loan amount along with the applicable taxes.
Standard Chartered Personal Loan Status
Knowing the real-time status of your personal loan is easy and quick as all you need to do is just log in to your account. With your credentials such as login ID and password, you can anytime login to your account and know the actual status of your personal loan without any hassle. This online facility is available for one and all and allows you to know your personal loan status anytime, anywhere.
Standard Chartered Personal Loan Login
You can easily login to your account and know all the details in just a few minutes. All you need to have is your login credentials. With the help of your login ID and password, you can anytime login to your account and track the account details.
Standard Chartered Personal Loan Statement
Standard Chartered Bank provides personal loan statement on your e-mail ID every month. The statement includes all the details such as account number, loan details, personal credentials, etc. The best thing about this statement is that you can anytime access the same and keep an eye on your personal loan account on the go.
How to Manage a Personal Loan Well
Here are the 4 tips that will help you manage your loans:
Pay On Time:
The first BIGGEST but simle step is to avoid late fees and penalties. The best way to do that is by paying your monthly payments on time every month. This also hits the credit score. These are needless and all too common consequences that will work against your financial condition.
If you have just taken a personal loan or are about to, the best way to manage your loan is by making a monthly payment on your loan as soon as you receive the loan. By being a payment ahead of your instalment plan you will have a buffer against a missed payment.
Pay More Than Your Minimum:
Paying beforehand is a good option for managing your plans but paying a little extra every month keeps you ahead of your loan term and provides you with some other financial bonuses.
Moreover, paying extra on your loan reduces the length of the repayment plan. This will help you clear the debt and allows you to regain your financial independence sooner. It will also reduce the rate of interest you owe and thus, saving you money in the long run.
Paying off your debts faster also leads to an improvement in your credit score. A lower credit score will benefit you in several ways, like dropping down payments and rates of interest.
Consolidate Your Loans:
For debtors managing multiple personal loans, consolidation could be the best way to simplify your debt repayment. Debt Consolidation is when you take a large loan to repay all the other loans you have taken. So, instead of paying multiple lenders every month with different rates of interest and needs, one can make a single payment to one provider.
Debt Consolidation is helpful if you can save an interest rate on a new loan that is lower than the average interest rate of the earlier loans.
The only disadvantage that lies here is that one will likely end up having to reimburse the debt quicker than before. Before consolidating your debt, make sure that you can make the payments on a new loan. This may also help to reimburse large portions of your loans on credit rather than with a single loan, consolidating it into more controllable pieces.
Credit Score:
Always keep a close watch on your credit score while reimbursing a personal loan. The credit score plays a major role in finances and has an important relationship with the loans taken out. How you manage your loans is reflected in your credit score. On the other hand, falling behind on your payments will subordinate the credit score. Thus, a higher credit score is important.