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Standard Chartered Home Loan Interest Rates 2021

Standard Chartered Bank Housing Loan Interest Rate -Today

Last Updated 12th Jul 2021

Current Standard Chartered Bank Home Loan interest rates Jul 2021 starts at 7.99% p.a. for a maximum tenure of 20 years. The processing fee on its housing loans is Upto 1.00%, Minimum ₹ 5,000 Maximum ₹ 10,000.

Loan AmountStandard Chartered Bank Home Loan Floating RateHome Saver
Upto ₹ 28 Lakh7.99%9.30%
₹ 28 Lakh - ₹ 75 Lakh7.99%9.40%
₹ 75 Lakh - ₹ 1.50 Cr7.99%9.45%
Above ₹ 1.50 Cr7.99%9.45%
Apply for Home Loan @ 6.65%* Get upto ₹ 1,000* Cashback

Current Standard Chartered Bank Home Loan Rate

Today Standard Chartered Bank home loan interest rates are in the range of 7.99% to 7.99%, with special discounted rates for specific categories of borrowers such as women borrowers for whom the bank offers the lowest interest rate of 7.99%.

Below-mentioned are Standard Chartered Bank home loan rates for multiple housing schemes.

Standard Chartered Bank Home Loan Scheme Interest Rates
Standard Chartered Bank Home Loan Floating7.99%

Standard Chartered Home Loan Interest Rates for Salaried and Self Employed

The home loan interest rates in Standard Chartered for salaried & non-salaried employee is mentioned in the table below:

Home Loan Interest Rate for Self-Employed

Loan Amount Rate
Upto ₹ 28 Lakh 7.99%
₹ 28 Lakh - ₹ 75 Lakh 7.99%
₹ 75 Lakh - 1.50 Cr 7.99%
Above ₹ 1.50 Cr 7.99%

Standard Chartered Bank Home Loan Processing Fee and Other Charges

Standard Chartered Bank home loan processing charges are upto 1.00% of the loan amount from its home loan customers to cover its expenses of conducting credit appraisal and technical evaluation of property. Standard Chartered Bank charges a minimum processing of ₹ 5,000 on home loan which is typically non-refundable and has to be paid at the time of loan application. In addition to processing fees, the bank also charges certain technical and legal charges which are explained to the customer during the loan process and are payable once the loan application proceeds further.

Processing Fees Upto 1.00% of the loan amount; minimum processing fee of ₹ 5,000 to maximum fee of ₹ 10,000
Foreclosure Charges Nil for floating rate home loans

Standard Chartered Home Loan Balance Transfer Interest Rates

Standard Chartered Bank home loan balance transfer facility is ideal for existing home loan customers, who are paying high interest to their existing lender. Through this facility, you can transfer your existing home loan to Standard Chartered Bank at a lower rate of interest, without closing the account. However, you do need to check the foreclosure charges that you have to pay to your existing lender if it is a fixed rate loan. Currently, Standard Chartered Bank offers the lowest home loan balance transfer rate of 7.99%.

Illustration on Home Loan Interest Rate Standard Chartered Bank
Maximum Annual Percentage Rate (APR) 8.04% to 8.04%
Representative example of the total cost of the loan, including all applicable fees
Here is an illustration of the total cost of the loan:
  • Total amount borrowed: ₹ 1,00,000
  • Time period: 5 Years to 20 Years
  • Standard Chartered Bank Home Loan Interest Rate: 7.99% to 7.99%
  • Processing Fee payable to: Upto ₹ 1,000
  • Fee payable to MyLoanCare: NIL
  • Total Monthly Cost – From ₹ 836 for 20 Years ₹ 1,00,000 loan at 7.99% (lowest rate, longest time period) to ₹ 2,027 for 5 Years ₹ 1,00,000 loan at 7.99% (highest rate, shortest time period). This is inclusive of principal repayment.
  • Annual Percentage Rate (APR) of charge including all applicable fees: 8.04% to 8.04%
  • Total cost payable over loan tenure: ₹ 1,22,630 for 5 Years loan to ₹ 2,01,597 for 20 Years loan

FAQs

What is Standard Chartered Home Loan Interest Rate?

Standard Chartered Home Loan interest rate ranges between 7.99% to 7.99%. The salaried borrowers with high credit score and income are eligible to get lower interest rates.

Has Standard Chartered reduced home loan rates?

Presently, Standard Chartered offers personal loans at an interest rate starting at 7.99%. There has been no change in personal loan rates of Standard Chartered for a long time and continue to stand at 7.99%.

Why should I opt for balance transfer to Standard Chartered Bank?

Standard Chartered Bank offers lowest Home Loan EMI of ₹ 836 per lakh availed at the lowest interest rate 7.99% for a maximum tenure of 20 years. you are paying an EMI more than ₹ 836 per lakh, you should consider the option for a loan transfer to Standard Chartered Bank from your existing bank.

  • Floating rate on Standard Chartered Bank housing loan is linked to its 3 Month MCLR Rate, which is currently at 6.60%. When Bank offers a Home Loan at %, it applies a premium of -6.6% to its MCLR Rate to arrive at this Home Loan rate.
  • When RBI increases rates, the bank may increase its MCLR rate and the applicable interest rate for all existing and new Home Loans would increase. When RBI cuts interest rates and the bank reduces the MCLR rate, the benefit of lower rates will have to be passed to both old borrowers and new house loan accounts.

What is the current Standard Chartered Bank Home Loan rate?

The current Standard Chartered Home Loan rate starts from 7.99% with a processing fee of Upto 1.00%, Minimum ₹ 5,000 and Maximum ₹ 10,000.Standard Chartered housing loan rate varies across the applicant’s eligibility and the scheme they opt for. Standard Chartered offers different home loan rates for different home loan products.

Can Standard Chartered Bank housing loan interest rate be negotiated?

Yes, if you have a good relationship with the bank and a high credit score, you can negotiate with Standard Chartered to lower the home loan rates.

What are the interest rates of home improvement loans in Standard Chartered?

You can avail of Standard Chartered home loans for home improvement at regular home loan rates starting at 6.65%.

Can Standard Chartered revise the home loan interest rates for their existing customers?

Standard Chartered home loan rates change for the existing customers if they have availed home loans at a floating rate of interest. The floating interest rates on home loans vary as per the change in market trends or in external benchmark rates such as the repo rate.

Does Standard Chartered offer a concessional home loan interest rate for women?

Yes, Standard Chartered offers special home loan interest rates for women. As against Standard Chartered home loan rates for male which is 7.99%, the home loan interest rate for women starts at %.

What is the Standard Chartered home loan rate of ₹ 25 Lakh for 15 years?

Standard Chartered home loan varies as per the loan amount. For home loan upto ₹ 25 Lakh, Standard Chartered provides home loan interest rate starting at 6.65%.

At what interest rate does an Standard Chartered employee get a home loan?

Standard Chartered offers concessional home loan rates of about 1% than the current home loan rates to Standard Chartered employees.

Is Standard Chartered Bank home loan a floating rate loan or fixed-rate loan?

Standard Chartered home loan is offered at both fixed and floating rate. In the case of the fixed rate, the interest remains the same whereas in the case of the floating rate the home loan rates keep varying according to the market.


Standard Chartered Bank Home Loan Reviews 4.8/5  by 2 customers
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Anand Sharma, Greater Noida
Reviewed on 16th Feb 2017
5 / 5 stars
Standard Chartered Bank Home Loan Availed in Feb-17

Pre/post loan service from the myloancare staff was excellent. My special thanks to Miss Parveen, shRead more...

rohan budhiraja, Delhi
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4.5 / 5 stars
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Standard Chartered Bank Home Loan News - Jul 2021
  • 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.
  • 2019-07-12 : Standard Chartered Bank revises MCLR rates across loan tenures
    Standard Chartered Bank has cut its Marginal Cost of Funds Based Lending Rate (MCLR) across loan tenures for the month of July. The move is supposed to make customer loans like home loans and mortgage loans cheaper. For one-year, the MCLR rate has been revised to 9.45%. For one-month and three months, the rate has been revised to 9.05% and 9.40% respectively. The rates are effective from July 8, 2019.
  • 2019-05-10 : Standard Chartered Bank revises MCLR rates across loan tenure
    Standard Chartered Bank has revised its Marginal Cost of Funds Based Lending Rate (MCLR) across all tenure for the month of May. The move is supposed to make retail loans like housing loans and mortgage loans cheaper. Now for overnight and one month the rate stands at 8.40% and 9.05% respectively. For 3 months, the rate has been revised to 9.40%. While for 1 year the rate now stands at 9.45%. The revised rates are effective from May 7, 2019.
  • 2018-11-16 : Standard Chartered Bank hikes Floating Home Loan rates
    Standard Chartered Bank has increased its floating Interest Rate on home loan by 50 basis points. The new rate for the Home loan is now 9.25%, which was 8.75% earlier. These rates are effective from November 9, 2018. There is no change in the processing fees.
*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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