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Standard Chartered Home Loan EMI Calculator

Standard Chartered Bank Home Loan Calculator

Last Updated 10th May 2022

  • Standard Chartered Bank home loan EMI per ₹ 1 Lakh is ₹ 775, which is one of the lowest EMI offered by banks. Check Best Offers
  • Housing loan EMI in Standard Chartered Bank is calculated based on the loan amount, loan tenure and interest rate.
  • It is better to calculate your EMI for the Standard Chartered Bank home loan before applying. Use an online Standard Chartered Bank loan EMI calculator to estimate your EMI.
  • Check Standard Chartered Bank home loan EMI for different tenures at the current Standard Chartered Bank home loan interest rate of 6.99%
  • Loan Amount10 Year Loan15 Year loan20 Year loan
    ₹ 10 Lakh₹ 11,606₹ 8,983₹ 7,747
    ₹ 20 Lakh₹ 23,211₹ 17,965₹ 15,494
    ₹ 30 Lakh₹ 34,817₹ 26,948₹ 23,241
    ₹ 50 Lakh₹ 58,028₹ 44,913₹ 38,735

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Standard Chartered Housing Loan EMI Calculator

Standard Chartered Bank Home Loan EMI is the fixed amount that you need to pay on a fixed date of the month till the end of repayment tenure. The amount is based on your loan amount, tenure, and interest rate. You can calculate your Standard Chartered Bank housing loan EMI in advance to plan your loan payments and expenses using a Standard Chartered Bank home loan calculator. Standard Chartered Bank home loan EMI calculator is an online tool that functions on a mathematical algorithm and gives accurate results without hassle.

Why Should You Use Standard Chartered Bank Home Loan EMI Calculator?

  • Calculate the EMI at Different Tenures: Standard Chartered Bank offers the lowest EMI per lakh at . To get the lowest EMI on your home loan, you can compare the EMIs with a different loan amount and tenure. However, it is advisable to check with the bank to know the interest rate you will be eligible for Standard Chartered Bank home loan.
  • Compare Standard Chartered Bank Home Loan EMI: With the Standard Chartered Bank home loan EMI Calculator online, you can also estimate EMI on your home loan from Standard Chartered Bank with other leading banks in India at the same loan amount and tenure at varying interest rates.
  • Get Detailed Amortisation Schedule: You can calculate the division of total EMIs into interest and principal repayment on your loan at different periods throughout the loan tenure.
  • Calculate the Outstanding Balance: Finally, you can also calculate the remaining loan tenure for the outstanding balance at any loan tenure period. If you want to reduce your home loan tenure, you can always consider a home loan balance transfer because other banks may allow you to pay your home loan at low rates.

How to Calculate EMI for Home Loan in Standard Chartered Bank?

To calculate your home loan EMI at different rates and tenure, enter different loan amounts and tenure at the eligible interest rate on the Standard Chartered Bank Home Loan EMI calculator. The below-mentioned table shows the calculation of Standard Chartered Bank Home Loan at the various combinations of loan amount and years at the lowest rate of 6.99%. Considering this example, if you think you can afford to pay an EMI of in your budget, take an loan for 15 years or loan for 30 years, maybe the right Standard Chartered Bank Home loan plan for you.

To calculate your home loan EMI at different rates and tenure, enter different loan amounts and tenure at the eligible interest rate on the Standard Chartered Bank Home Loan EMI calculator. The below-mentioned table shows the calculation of Standard Chartered Bank Home Loan at the various combinations of loan amount and years at the lowest rate of 6.99%. Considering this example, if you think you can afford to pay an EMI of in your budget, take an loan for 15 years or loan for 30 years, maybe the right Standard Chartered Bank Home loan plan for you.

Standard Chartered Bank home loan EMI is calculated for different loan amounts and tenures at 6.99% interest rate
Loan Tenure
Loan Amount (Rs.) 15 years20 years30 years
₹ 25 Lakh ₹ 22,457 ₹ 19,367 ₹ 16,616
₹ 50 Lakh ₹ 44,913 ₹ 38,735 ₹ 33,232
₹ 75 Lakh ₹ 67,370 ₹ 58,102 ₹ 49,847
₹ 1 Cr ₹ 89,827 ₹ 77,470 ₹ 66,463

Benefits of using Standard Chartered Bank Home Loan EMI Calculator

Standard Chartered Bank Home Loan interest Calculator is online and gives instant results with 100% accuracy. The best part is that you can calculate and compare multiple EMIs on different combinations of loan amount, interest rate, and tenure. Thus, using the Standard Chartered Bank Home Loan EMI Calculator helps you to choose the right amount of EMI that is affordable and also decide on the right loan amount and loan tenure. Further, if you use the MyLoanCare Standard Chartered Bank Home Loan Calculator, you have the option to receive calculated EMIs and amortization schedules for each calculation by mail which can be referred to at a later stage when you are making the final decision to take a loan.

Factors Affecting Standard Chartered Bank Home Loan EMI

Home Loan EMI can be calculated using an online Home Loan Calculator which takes into account factors such as loan amount, rate of interest and the tenure for which you are planning to avail the loan.

Loan Amount

If you apply for a higher loan amount, you will have to pay a higher EMI Standard Chartered Bank gives a minimum home loan of ₹ 10,00,000 upto a maximum amount of ₹ 15,00,00,000.

Interest Rate

Higher interest rate increases your Standard Chartered Bank housing loan EMI which will increase the total cost of the loan. Standard Chartered Bank current home loan interest rate starts at 6.99%. Do a complete market research and compare rates and calculate EMI online using the Standard Chartered Bank home loan calculator before you apply for a home loan.

Loan Tenure

This is the period in which you can repay your home loan in Standard Chartered Bank. Your EMI will be lower if you take a 0 years loan from Standard Chartered Bank as compared to a loan taken for 5 years. For a longer period, you get to pay a smaller EMI and vice-versa.

Standard Chartered Home Loan EMI Calculator Formula

Standard Chartered Home Loan Calculator calculates EMI based on the following formula.

P*r* (1+r)^n/([(1+r)^n]-1)

Here is an illustration of how Standard Chartered Bank Home Loan EMI calculator formulates EMI:

In above formula,

  • P = Loan amount. Standard Chartered Bank home loan amount can range from ₹ 10,00,000 to ₹ 15,00,00,000
  • R = Rate of interest per month. Current Standard Chartered Bank housing loan rate 6.99%.3 Month MCLR, which is currently 6.25%. Last revised on 07th May 22
  • N = tenure in month. For Standard Chartered Bank, maximum home loan tenure is 360 months

Comparison of Standard Chartered Bank Home Loan EMI with other Banks

Bank Name Interest rate Loan Amount of ₹ 10 Lakh Loan Amount of ₹ 30 Lakh Loan Amount of ₹ 50 Lakh
Standard Chartered Bank 6.99% ₹ 6,646 ₹ 19,939 ₹ 33,232
HDFC 7.00% ₹ 6,653 ₹ 19,959 ₹ 33,265
ICICI Bank 6.90% ₹ 6,586 ₹ 19,758 ₹ 32,930
SBI 6.65% ₹ 6,420 ₹ 19,259 ₹ 32,098
LIC Housing Finance 6.95% ₹ 6,619 ₹ 19,858 ₹ 33,097
Axis Bank 6.70% ₹ 6,453 ₹ 19,358 ₹ 32,264

Standard Chartered Bank Home Loan Amortization Calculator

Standard Chartered Bank Home Loan amortization schedule gives a break up of your monthly EMI into interest and principal repayment. Standard Chartered Bank gives you a detailed amortisation schedule with the sanction letter and you can calculate the total interest outgo as well as the pace at which your loan amount will be repaid during the loan tenure.

How to read an amortization schedule

Suppose if you take a Home Loan of ₹ 35 Lakh for 15 years from Standard Chartered Bank at an interest rate of 6.99%. EMI calculated for this loan amount is ₹ 31,439 and the total annual EMIs to be paid annually is ₹ 3,77,273. The EMI schedule of loan for 15 years is explained below in the table –

Amortization Schedule for a Home Loan of ₹ 35 Lakh over the 15 years

Year Interest paid during the year Principal repaid during the year Total amount paid during the year (Interest + Principal) Outstanding Principal
2022 ₹ 1,61,276 ₹ 90,239 ₹ 2,51,515 ₹ 34,09,761
2023 ₹ 2,33,804 ₹ 1,43,469 ₹ 3,77,273 ₹ 32,66,291
2024 ₹ 2,23,448 ₹ 1,53,825 ₹ 3,77,273 ₹ 31,12,466
2025 ₹ 2,12,344 ₹ 1,64,929 ₹ 3,77,273 ₹ 29,47,537
2026 ₹ 2,00,439 ₹ 1,76,834 ₹ 3,77,273 ₹ 27,70,703
2027 ₹ 1,87,674 ₹ 1,89,599 ₹ 3,77,273 ₹ 25,81,104
2028 ₹ 1,73,988 ₹ 2,03,285 ₹ 3,77,273 ₹ 23,77,819
2029 ₹ 1,59,315 ₹ 2,17,959 ₹ 3,77,273 ₹ 21,59,860
2030 ₹ 1,43,582 ₹ 2,33,692 ₹ 3,77,273 ₹ 19,26,169
2031 ₹ 1,26,713 ₹ 2,50,560 ₹ 3,77,273 ₹ 16,75,609
2032 ₹ 1,08,627 ₹ 2,68,647 ₹ 3,77,273 ₹ 14,06,962
2033 ₹ 89,235 ₹ 2,88,038 ₹ 3,77,273 ₹ 11,18,924
2034 ₹ 68,443 ₹ 3,08,830 ₹ 3,77,273 ₹ 8,10,094
2035 ₹ 46,151 ₹ 3,31,122 ₹ 3,77,273 ₹ 4,78,971
2036 ₹ 22,249 ₹ 3,55,024 ₹ 3,77,273 ₹ 1,23,947
2037 ₹ 1,810 ₹ 1,23,947 ₹ 1,25,758 -₹ 0

In the above illustration, on a Standard Chartered Bank Home Loan of₹ 35 Lakh, taken at the lowest interest rate of 6.99, EMI paid is ₹ 31,439 and an annual total of EMIs is ₹ 3,77,273, the interest component is ₹ 2,40,317 while the principal component is ₹ 1,36,956 in year 1 of loan disbursement. You repay only 3.91% of the total principal after paying 12 EMIs during the first year.

Standard Chartered Bank Home Loan EMI for ₹ 10 Lakh

The following table shows Standard Chartered Bank Housing Loan EMI for ₹ 10 lakh home loan for different tenures at an interest rate of 6.99%

Loan Amount Interest rate Tenure (Year) EMI
₹ 10,00,000 6.99% 5 Years ₹ 19,796
₹ 10,00,000 6.99% 10 Years ₹ 11,606
₹ 10,00,000 6.99% 15 Years ₹ 8,983
₹ 10,00,000 6.99% 20 Years ₹ 7,747
₹ 10,00,000 6.99% 0 Years

Standard Chartered Bank Home Loan EMI for ₹ 20 Lakh

The following table shows Standard Chartered Bank Housing Loan EMI for ₹ 20 lakh home loan for different tenures at an interest rate of 6.99%

Loan Amount Interest rate Tenure (Year) EMI
₹ 20,00,000 6.99% 5 Years ₹ 39,593
₹ 20,00,000 6.99% 10 Years ₹ 23,211
₹ 20,00,000 6.99% 15 Years ₹ 17,965
₹ 20,00,000 6.99% 20 Years ₹ 15,494
₹ 20,00,000 6.99% 0 Years

Standard Chartered Bank Home Loan EMI for ₹ 25 Lakh

The table below shows Standard Chartered Bank Housing Loan EMI for ₹ 25 lakh home loan for different tenures at an interest rate of 6.99%

Loan Amount Interest rate Tenure (Year) EMI
₹ 25,00,000 6.99% 5 Years ₹ 49,491
₹ 25,00,000 6.99% 10 Years ₹ 29,014
₹ 25,00,000 6.99% 15 Years ₹ 22,457
₹ 25,00,000 6.99% 20 Years ₹ 19,367
₹ 25,00,000 6.99% 0 Years

Standard Chartered Bank Home Loan EMI for ₹ 30 Lakh

The following table shows Standard Chartered Bank Housing Loan EMI for ₹ 30 lakh home loan for different tenures at an interest rate of 6.99%

Loan Amount Interest rate Tenure (Year) EMI
₹ 30,00,000 6.99% 5 Years ₹ 59,389
₹ 30,00,000 6.99% 10 Years ₹ 34,817
₹ 30,00,000 6.99% 15 Years ₹ 26,948
₹ 30,00,000 6.99% 20 Years ₹ 23,241
₹ 30,00,000 6.99% 0 Years

Standard Chartered Bank Home Loan EMI for ₹ 50 Lakh

The following table shows Standard Chartered Bank Housing Loan EMI for ₹ 50 lakh home loan for different tenures at an interest rate of 6.99%

Loan Amount Interest rate Tenure (Year) EMI
₹ 50,00,000 6.99% 5 Years ₹ 98,982
₹ 50,00,000 6.99% 10 Years ₹ 58,028
₹ 50,00,000 6.99% 15 Years ₹ 44,913
₹ 50,00,000 6.99% 20 Years ₹ 38,735
₹ 50,00,000 6.99% 0 Years

Other Loan Calculators Offered by MyLoanCare

FAQs

Will the Standard Chartered Bank home loan EMI remain constant or change in future?

No, your Standard Chartered Bank Home Loan EMI can change if you have taken a floating rate loan and there is a change in the repo rate to which the home loan rate has been benchmarked. However, if it is a fixed rate loan, the Standard Chartered Bank Home Loan EMI will remain unchanged throughout the loan tenure unless you request for a change in tenure or prepay your loan amount.

What happens in case of increase or decrease in Standard Chartered Bank interest rate?

Standard Chartered Bank offers both fixed and floating rate home loans. If you take a floating rate loan from Standard Chartered Bank, your interest rate and hence EMI will decrease with a cut in the repo rate and increase with an increase in repo rate on the date of reset. This means that your Standard Chartered Bank home loan EMI can keep fluctuating during the loan tenure depending on the changes in interest rates. In case of a fixed rate loan, your interest rate and EMI will remain constant throughout the loan period.

Will Standard Chartered Bank home loan EMI change in case of prepayment?

Standard Chartered Bank allows prepayment at nil charges in case of floating rate home loans. When you make a prepayment, the outstanding balance of the principal amount on your Standard Chartered Bank home loan reduces. In this case, you may choose to either keep the EMI same and reduce the loan tenure (that is paying off the loan faster) or reduce the EMI and keep the loan tenure the same (that is paying a lesser amount every month). It is beneficial to keep the Standard Chartered Bank home loan EMI constant and reduce the loan tenure as you pay less interest to the bank in this option. After prepayment, you can calculate your home loan EMI using Standard Chartered Bank home loan calculator.

Why should I calculate Standard Chartered Bank loan EMI before taking a loan?

It is advised to calculate Standard Chartered Bank home loan EMI before taking a home loan. There are several benefits of calculating your Standard Chartered Bank housing loan EMI which can be done using Standard Chartered Bank home EMI calculator as discussed below -

  • In case EMI comes out to be more than your monthly budget, then you have the chance to apply for a lower loan amount which fits your monthly budget and make Standard Chartered Bank EMI affordable.
  • If you already know the EMI you have to pay each month, then you can plan your spends accordingly
  • Based on the EMI amount, you can opt for making a prepayment of your home loan in the future when you have a surplus amount. You can calculate the aftermaths of prepayment using home loan emi calculator Standard Chartered Bank.

What is the EMI for home loan in Standard Chartered Bank?

The Standard Chartered Bank EMI will vary based on loan amount, tenure, rate of interest and can be calculated using Standard Chartered Bank home loan calculator. Based on the lowest rate of 6.99% and maximum tenure of 20 years, the Standard Chartered Bank home loan EMI for different loan amount will be:

Loan amount EMI
₹ 10 Lakh ₹ 7,747
₹ 12 Lakh ₹ 9,296
₹ 15 Lakh ₹ 11,620
₹ 30 Lakh ₹ 23,241
₹ 50 Lakh ₹ 38,735

You can compare Standard Chartered Bank home loan EMI for different loan amounts and tenure and then choose the loan amount based on your repayment capacity.

How accurate is a Standard Chartered Bank Housing Loan EMI calculator?

Online Standard Chartered Bank housing loan calculators use technology to calculate the results and hence, if the data entered by you is correct the results should be 100% accurate.The calculator works on a mathematical algorithm based on the formula: P*r* (1+r)^n/([(1+r)^n]-1). Here, P is the loan amount, r is the rate of interest per month and n is the tenure in month. The Standard Chartered Bank home loan emi calculator is far better than manual calculations , as chances of error are less.

How to pay your Standard Chartered Bank Home loan EMI Online?

To pay the EMI of Standard Chartered Bank home loan, you can log in to your net banking account as provided during the time of availing the loan and pay using your savings account or debit/credit card. You can also visit the branch and submit the cheque of your EMI.

How is Standard Chartered Bank home loan EMI calculated?

The Standard Chartered Bank Home loan EMI calculation formula is as follows:
E = [P x R x (1+R)^N]/[(1+R)^N-1] where
‘E’ means Equated monthly instalments
‘P’ means the principal amount
‘N’ is the number of monthly instalments
‘R’ is the interest rate per month.

Compare Home Loan EMI of All Banks


Standard Chartered Bank Home Loan Reviews 4.8/5  by 2 customers
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Standard Chartered Home Loan News - May 2022
  • 2022-02-16 : Standard Chartered Bank Launches Interest Only Home Loan Facility
    Standard Chartered Bank has launched the interest only home loan facility for completed residential properties. The facility allows borrowers to pay only for the interest accrued on the principal outstanding.
  • 2021-08-23 : Standard Chartered revises the home loan interest rate
    Standard Chartered Bank has reduced its interest rate on home loans. Earlier the interest rate was 7.99% now a borrower can avail at 7.49%. There are no prepayment charges on a home loan of Standard Chartered Bank.
  • 2021-08-09 : Standard Chartered sees a jump of 57% in profit in H1
    Standard Chartered posted a higher profit jump by 57% jump in first-half pretax profit. The lender has announced a $250 million share buyback, also they will resume dividend payments by unveiling a 3 cents per share interim payout.
  • 2021-04-07 : IIFL Home Finance signs co-lending agreement with Standard Chartered Bank
    IIFL Home Finance and Standard Chartered Bank have entered into a co-lending arrangement for extending credit. Under this agreement, IIFL Home Finance and the Standard Chartered Bank will co-originate these loans and the IIFL Home Finance will service the customers through the entire loan life-cycle including sourcing, documentation, collection and loan servicing.
  • 2021-02-22 : Standard Chartered digital initiatives bolstered bank loan and deposits portfolio
    Digital initiatives like Video KYC and Virtual credit card aided Standard Chartered Bank to increase its loan and deposits portfolio. The digital initiatives have helped Bank in providing efficient and seamless banking services to all its clients especially the new-age ones.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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