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Standard Chartered Home Loan Interest Rates 2022

Standard Chartered Bank Housing Loan Interest Rate -Today

Last Updated 10th Jan 2022

Loan AmountStandard Chartered Bank Home Loan Floating RateHome Saver
Upto ₹ 28 Lakh6.99%9.30%
₹ 28 Lakh - ₹ 75 Lakh6.99%9.40%
₹ 75 Lakh - ₹ 1.50 Cr6.99%9.45%
Above ₹ 1.50 Cr6.99%9.45%
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Standard Chartered Bank Home Loan Rate

Standard Chartered Bank offers home loans to both salaried individuals and self-employed at a minimum rate starting at 6.99% up to 6.99%. Apart from the interest rate, the bank also has various other charges such as Standard Chartered Bank processing fee - that is charged over and above the loan amount, is non-refundable and has to be paid at the time of loan application and foreclosure and prepayment fee for closing or prepaying the loan before the loan tenure ends.

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
Part Prepayment Charges Allowed
Foreclosure Charges Nil for floating rate home loans

Interest rates on Standard Chartered Home Loans Schemes

Standard Chartered Bank offers a housing loan interest rate at 6.99%. If you want to avail of the home loan at the lowest rates, you should have a good CIBIL score, debt-income ratio and repayment capacity. In addition, Standard Chartered Bank home loan interest rates are lower for existing customers of the bank and individuals who are working with reputed corporations with a stable employment history.

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 Floating6.99%

Standard Chartered Home Loan Interest Rate for Salaried and Self-Employed

The home loan interest rates in Standard Chartered for salaried and self-employed is mentioned in the table below:

Home Loan Interest Rate for Salaried

Loan Amount Rate
Upto ₹ 28 Lakh 6.99%
₹ 28 Lakh - ₹ 75 Lakh 6.99%
₹ 75 Lakh - 1.50 Cr 6.99%
Above ₹ 1.50 Cr 6.99%

Home Loan Interest Rate for Self-Employed

Loan Amount Rate
Upto ₹ 28 Lakh 6.99%
₹ 28 Lakh - ₹ 75 Lakh 6.99%
₹ 75 Lakh - 1.50 Cr 6.99%
Above ₹ 1.50 Cr 6.99%

Standard Chartered Bank Home Loan Interest Rate For Women & Govt Employee

Loan Amount Standard Chartered Home Loan Rate For Women Standard Chartered Home Loan Rate For Govt Employee
Upto ₹ 28 Lakh 6.99% 6.99%
₹ 28 Lakh - ₹ 75 Lakh 6.99% 6.99%
₹ 75 Lakh - 1.50 Cr 6.99% 6.99%
Above ₹ 1.50 Cr 6.99% 6.99%

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 loan balance transfer rate of 6.50%.

Illustration on Home Loan Interest Rate Standard Chartered Bank
Maximum Annual Percentage Rate (APR) 7.04% to 7.04%
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: 6.99% to 6.99%
  • Processing Fee payable to: Upto ₹ 1,000
  • Fee payable to MyLoanCare: NIL
  • Total Monthly Cost – From ₹ 775 for 20 Years ₹ 1,00,000 loan at 6.99% (lowest rate, longest time period) to ₹ 1,980 for 5 Years ₹ 1,00,000 loan at 6.99% (highest rate, shortest time period). This is inclusive of principal repayment.
  • Annual Percentage Rate (APR) of charge including all applicable fees: 7.04% to 7.04%
  • Total cost payable over loan tenure: ₹ 1,19,779 for 5 Years loan to ₹ 1,86,928 for 20 Years loan

FAQs

Has Standard Chartered reduced home loan rates?

As per the current rates, Standard Chartered has cut its home loan rates by 0.5% from 7.49% to 6.99%, which is one of the best rates in the market. The new rates are effective from 23 Aug, 2021.

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

Standard Chartered Bank offers lowest Home Loan EMI of ₹ 775 per lakh availed at the lowest interest rate 6.99% for a maximum tenure of 20 years. If you are paying an EMI more than ₹ 775 per lakh, you should consider the option for a loan transfer to Standard Chartered from your existing bank. Current Standard Chartered balance transfer rate is 6.50%.

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. Apart from the home loan rates, you can also negotiate over the processing fee.

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

Yes, Standard Chartered offers concessional rates to the existing customers, and you can negotiate with the bank to offer you the revised 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 6.99%, the home loan interest rate for women starts at %.

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

For home loan upto ₹ 25 Lakh, Standard Chartered provides home loan interest rate starting at 6.99%. However, you can get the lowest rates if you have a good relationship with the bank, work with top corporations, have a good CIBIL score and have stable income sources.

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 rates. In the case of the fixed-rate, the interest remains the same throughout the tenure. On the other hand, the home loan rates vary as per the market fluctuations for floating home loan rates.

What is the Standard Chartered home loan rate today ?

Standard Chartered home loan rate today is in the range of 6.99% to 6.99%.The bank also charges a processing fee of upto Upto 1.00%, Minimum ₹ 5,000 Maximum ₹ 10,000 of the home loan amount.

How much interest does Standard Chartered take on home loans?

The rate of interest on Standard Chartered home loans varies based on your eligibility, such as CIBIL score, age, repayment capacity, income etc. However, Standard Chartered home loan current interest rate 2021 are in the range of 6.99% to 6.99%.


Standard Chartered Bank Home Loan Reviews 4.8/5  by 2 customers
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Standard Chartered Home Loan News - Jan 2022
  • 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.
  • 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.
*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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