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Standard Chartered Home Loan Interest Rate Calculator - Apr 2017

Last Updated 21st Apr 2017

Standard Chartered Bank Home Loan Interest Rates

Interest Rate 8.90% - 8.90%
Check Best Offers
Lowest EMI Rs. 893 per lakh
Max Tenure 20 years
Processing Fee Upto 0.50%
Prepayment, Foreclosure Charges Allowed with nil charges for floating rate loans
Age Min 21 and Max 60 years for Salaried
Min 21 and Max 65 years for Self Employed
Apply Home Loan @ 8.35%*
Rs.
Rs.
+91

Standard Chartered Bank Home Loan

Standard Chartered Bank offers home loan to the people who want money to purchase a house, home renovation and home extension etc. The house itself acts as a security to the loan.

Home Loan Standard Chartered

Home loan interest rates offered by Standard Chartered Bank depends upon MCLR.

  • Fixed rates allow you to borrow loan at a fixed price which won’t change in the whole tenure in case of change in MCLR rate and should be chosen only if you believe that the rates will not hike in future.
  • Floating rates changes with a single change in MCLR rate in your loan tenure. You should go for floating rates if you can take the risk of hike in interest rates.

Standard Chartered Bank offers home loan based on 3 Month MCLR rates which is currently 8.85%.

Standard Chartered Bank home loan interest rate depends upon

  • Loan amount: Home loan rate in Standard Chartered Bank depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate
  • Company where you work: Standard Chartered Bank has a list of companies to which they lend Home loan. Interest rate will be less if your company is listed
  • Your Salary: Income helps you in identifying your rate of interest. Standard Chartered Bank interest rate varies with your monthly income. Higher the income, less will the rate of interest

Home Loan Charges

  • Foreclosure Charges - These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. Standard Chartered Bank allows prepayment of home loan with Nil prepayment charges
  • Processing Fee - Standard Chartered Bank asks for a processing fee of 0.50% of loan amount with applicable service tax

Standard Chartered Home Loan EMI Calculator

Home Loan EMI of Standard Chartered Bank is a fixed amount that you pay each month towards the repayment of your home loan till the end of tenure

  • Home Loan EMI calculator of Standard Chartered Bank helps you to calculate your monthly EMI at different rate of interest and also check lowest EMI per lakh on home loan.
  • You can plan your loan amount according to your monthly repayment capacity because higher the loan amount, higher will be the EMI
  • Rate of interest is an important factor which affects your EMI. Higher the interest rate, higher will be the EMI
  • Loan tenure matters equally as higher tenure reduces your EMI

What are the benefits of calculating Standard Chartered Bank Home Loan EMI?

  • EMI calculator of Standard Chartered Bank helps you to calculate your monthly EMI at different rate of interest
  • Standard Chartered Bank Housing Loan EMI calculator helps you to know your capacity to repay the loan after maintaining your standard of living
  • You get a rough idea about your monthly EMI and can plan your monthly budget accordingly

Standard Chartered Home Loan Eligibility Calculator

Home Loan eligibility criteria Standard Chartered Bank

Eligibility of House loan in Standard Chartered Bank relies upon different factors but the most important factor is your ability to repay the loan. The main factors on which the eligibility of an applicant depends are

  • Age: Age plays an important role to know your eligibility and repayment capacity. Standard Chartered Bank offers Home loan to salaried at the age of 21 to 60 years and self employed individuals at 21 to 65 years
  • Income: In case of salaried person, Standard Chartered Bank Loan eligibility significantly depends upon the income. Usually bank set minimum levels of income to apply for house loan. Salaried employee should be in government job or working with a reputed private company and getting regular salary in bank account with salary slip, form 16
  • Job stability and Profession: Job stability is important to improve your status and eligibility for Home loan from Standard Chartered Bank. Minimum turnover and minimum net income criteria may apply. Business must be registered with at least one government agency such as service tax, VAT, excise, shops and establishment registrar. Other than job stability, profession is also an important factor which can affect your Standard Chartered Bank eligibility. If you are working with a reputed company, probability of getting home loan from Standard Chartered Bank increases as the income is considered to be more stable
  • CIBIL Score: Your past CIBIL history and repayment record of existing loans and credit cards has direct impact on your Home loan eligibility. If you have a poor repayment record, then you may not get the loan but on the other side, a regular repayment record increases your Home loan eligibility
  • Loan Amount: Standard Chartered Bank gives you Home loan depending upon your income. Standard Chartered Bank gives you an amount ranging from Rs. 1,000,000 to Rs. 150,000,000. To improve chances of approval, apply for a loan amount that you can comfortably service

Standard Chartered Bank Floating Rate Home Loans

Standard Chartered Bank Home Loan Floating
Upto Rs. 2,800,000 - 8.90%
Rs. 2,800,001 - 7,500,000 - 8.90%
Rs. 7,500,001 - 15,000,000 - 8.90%
Above Rs. 15,000,000 - 8.90% linked to 3 Month MCLR
with Home Saver Facility
Upto Rs. 2,800,000 - 9.50%
Above Rs. 2,800,001 - 7,500,000 - 9.50%
Above Rs. 7,500,001 - 15,000,000 - 9.50%
Above Rs. 15,000,000 - 9.50% linked to 3 Month MCLR

Standard Chartered Bank Fixed Rate Home Loans

SCB Home Loan Fixed
Upto Rs. 2,800,000 - 9.45%
Rs. 2,800,001 - 7,500,000 - 9.45%
Rs. 7,500,001 - 15,000,000 - 9.45%
Above Rs. 15,000,000 - 9.45% linked to 3 Month MCLR

Standard Chartered Bank Home Loan Top up, Transfer

Transfer of Home Loan from another bank to Standard Chartered Bank?

Standard Chartered Bank offers home loan balance transfer from another bank. This is subject to your meeting other eligibility criteria of Standard Chartered Bank
You can avail additional top-up home loan from Standard Chartered Bank, subject to your eligibility

Housing Loan Standard Chartered documents required

Home Loan for Salaried employee Standard Chartered Bank documents required

  • Filled up loan application form
  • 2 Passport Size Photo
  • Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN
  • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
  • Income Documents – 6 months payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit

Home Loan for Self-Employed Standard Chartered Bank documents required

  • Filled up loan application form
  • 2 Passport Size Photo
  • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
  • ITR of last 2 years
  • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
  • Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of business existence and business profile

Frequently Asked Questions

Why to take home loan from Standard Chartered Bank?

Standard Chartered Bank offers home loan at lower rate of interest i.e. at 8.90% with the lowest EMI of Rs. 893 per lakh. If you are paying EMI more than this then you can opt for balance transfer and relocate your home loan to Standard Chartered Bank.

What is the maximum loan tenure I can opt under Standard Chartered Bank house loan?

Standard Chartered Bank offers you a longer tenure of 20 years to repay your home loan with a benefit of paying less EMI per month.

Do I get tax benefit on home loan from Standard Chartered Bank?

As per Indian Income Tax Act of 1961, residents of India are eligible for tax benefits on principal amount and interest components of a home loan under the section 24 and section 80C of Income Tax Act.

Can I foreclosure my home loan? What are the charges applicable?

Yes, you can foreclose your home loan with Nil charges.

Can I transfer my home loan from another bank to Standard Chartered Bank?

Yes, Standard Chartered Bank gives you the facility to transfer your existing home loan with a hassle free process. Home loan balance transfer to Standard Chartered Bank offers you to pay lower EMIs and save money.

Can I club the income of my spouse with mine and apply for joint home loan?

You can club the income of your spouse to increase your loan eligibility if the spouse is co-owner of the property or guarantor of the loan.

What is the benchmark applicable for home loan in Standard Chartered Bank?

The benchmark applicable for home loan in Standard Chartered Bank is 3 Month MCLR.

What is the effect of part payments on Standard Chartered Bank housing loan EMI ?

Part payments help you in reducing the outstanding amount of loan which in turn will reduce the interest amount due. After making part payments, paying the same EMI will increase your involvement towards the principal amount which will help you in repaying the loan faster.

How to increase my eligibility on Standard Chartered Bank housing loan?

If your spouse or family member is earning well, you can make your spouse or family member the co-applicant for your loan. The combination of both of your income will help you in increasing your eligibility to get loan.

How will interest rate on Standard Chartered Bank housing loan change in future?
  • Floating interest rate on Standard Chartered Bank housing loan is linked to its 3 Month MCLR Rate, which is currently at 8.85%. So, when Standard Chartered Bank offers a home loan at 8.90%, it applies a premium of 0.05% to its MCLR Rate to arrive at this home loan interest rate.
  • When RBI increases interest 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.

Standard Chartered Home Loan in India

Standard Chartered Bank Home Loan Interest Rate Customer Care Number, Email, Application Status, Branches

City Customer Care Number
Agra 0522-6601444/ 0522-3940444, customer.care [at] sc [dot] com
Ahmedabad 079-66014444/ 079-39404444, customer.care [at] sc [dot] com
Ambala 0183-6601444/ 0183-3940444, customer.care [at] sc [dot] com
Anand 079-66014444/ 079-39404444, customer.care [at] sc [dot] com
Aurangabad 0712-6601444/ 0712-3940444, customer.care [at] sc [dot] com
Bangalore 080-66014444/ 080-39404444, customer.care [at] sc [dot] com
Bhilai 1800-345-1000, customer.care [at] sc [dot] com
Bhilwara 0141-6601444/ 0141-3940444, customer.care [at] sc [dot] com
Bhiwadi 0712-6601444/ 0712-3940444, customer.care [at] sc [dot] com
Bhopal 0755-6601444/ 0755-3940444, customer.care [at] sc [dot] com
Bhubaneswar Cuttack 0674-6601444/ 0674-3940444, customer.care [at] sc [dot] com
Bikaner 0141-6601444/ 0141-3940444, customer.care [at] sc [dot] com
Chandigarh 0172-6601444/ 0172-3940444, customer.care [at] sc [dot] com
Chennai 044-66014444/ 044-39404444, customer.care [at] sc [dot] com
Cochin 0484-6601444/ 0484-3940444, customer.care [at] sc [dot] com
Coimbatore 0422-6601444/ 0422-3940444, customer.care [at] sc [dot] com
Dehradun 1800-345-1000, customer.care [at] sc [dot] com
Delhi 011-66014444/ 011-39404444, customer.care [at] sc [dot] com
Durg 1800-345-1000, customer.care [at] sc [dot] com
Faridabad 0183-6601444/ 0183-3940444, customer.care [at] sc [dot] com
Gandhinagar 079-66014444/ 079-39404444, customer.care [at] sc [dot] com
Ghaziabad 0522-6601444/ 0522-3940444, customer.care [at] sc [dot] com
Goa 1800-345-1000, customer.care [at] sc [dot] com
Greater Noida 011-39404444/ 011-66014444, customer.care [at] sc [dot] com
Gurgaon 011-39404444/ 011-66014444, customer.care [at] sc [dot] com
Guwahati 1800-345-1000, customer.care [at] sc [dot] com
Gwalior 0755-6601444/ 0755-3940444, customer.care [at] sc [dot] com
Hyderabad 040-66014444/ 040-39404444, customer.care [at] sc [dot] com
Indore 0731-6601444/ 0731-3940444, customer.care [at] sc [dot] com
Jabalpur 0755-6601444/ 0755-3940444, customer.care [at] sc [dot] com
Jaipur 0141-6601444/ 0141-3940444, customer.care [at] sc [dot] com
Jalandhar 0181-6601444/ 0181-3940444, customer.care [at] sc [dot] com
Jodhpur 0141-6601444/ 0141-3940444, customer.care [at] sc [dot] com
Kanpur 0512-6601444/ 0512-3940444, card.services [at] sc [dot] com
Karnal 0183-6601444/ 0183-3940444, customer.care [at] sc [dot] com
Kolhapur 0712-6601444/ 0712-3940444, customer.care [at] sc [dot] com
Kolkata 033-66014444/ 033-39404444, customer.care [at] sc [dot] com
Kota 0141-6601444/ 0141-3940444, customer.care [at] sc [dot] com
Kozhikode 1800-345-1000, customer.care [at] sc [dot] com
Lucknow 0522-6601444/ 0522-3940444, customer.care [at] sc [dot] com
Ludhiana 0161-6601444/ 0161-3940444, customer.care [at] sc [dot] com
Madurai 044-66014444/ 044-39404444, customer.care [at] sc [dot] com
Meerut 0522-6601444/ 0522-3940444, customer.care [at] sc [dot] com
Mehsana 079-66014444/ 079-39404444, customer.care [at] sc [dot] com
Mohali Sas Nagar 0172-6601444/ 0172-3940444, customer.care [at] sc [dot] com
Mumbai 022-66014444/ 022-39404444, customer.care [at] sc [dot] com
Mussoorie 1800-345-1000, customer.care [at] sc [dot] com
Nagpur 0712-6601444/ 0712-3940444, customer.care [at] sc [dot] com
Nashik 0712-6601444/ 0712-3940444, customer.care [at] sc [dot] com
Noida 011-39404444/ 011-66014444, customer.care [at] sc [dot] com
Noida Extn 011-39404444/ 011-66014444, customer.care [at] sc [dot] com
Panipat 0183-6601444/ 0183-3940444, customer.care [at] sc [dot] com
Patna 0612-6601444/ 0612-3940444, customer.care [at] sc [dot] com
Pondicherry 1800-345-1000, customer.care [at] sc [dot] com
Pune 020-66014444/ 020-39404444, customer.care [at] sc [dot] com
Raipur 1800-345-1000, customer.care [at] sc [dot] com
Rajkot 0281-6601444/ 0281-3940444, customer.care [at] sc [dot] com
Ranchi 1800-345-1000, customer.care [at] sc [dot] com
Rohtak 0183-6601444/ 0183-3940444, customer.care [at] sc [dot] com
Roorkee 1800-345-1000, customer.care [at] sc [dot] com
Salem 044-66014444/ 044-39404444, customer.care [at] sc [dot] com
Shimla 1800-345-1000, customer.care [at] sc [dot] com
Sonepat 0183-6601444/ 0183-3940444, customer.care [at] sc [dot] com
Surat 0261-6601444/ 0261-3940444, customer.care [at] sc [dot] com
Trichy 044-66014444/ 044-39404444, customer.care [at] sc [dot] com
Udaipur 0141-6601444/ 0141-3940444, customer.care [at] sc [dot] com
Vadodara 0265-6601444/ 0265-3940444, customer.care [at] sc [dot] com
Varanasi 0522-6601444/ 0522-3940444, customer.care [at] sc [dot] com
Vijaywada 1800-345-1000, customer.care [at] sc [dot] com
Vizag 1800-345-1000, customer.care [at] sc [dot] com
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Standard Chartered Home Loan News - Apr 2017
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