Standard Chartered Loan Against Property Interest Rate Calculator - Dec 2016

Standard Chartered Bank Loan Against Property Interest Rates

Last Updated 10th Dec 2016
7th Dec 2016 - RBI keeps interest rates unchanged. Repo rate stays at 6.25%. CRR at 4%. 100% CRR on fresh deposits withdrawn
Interest Rate 10.75% - 10.75%
Check Special Offers
Lowest EMI Rs. 1,121 per lakh
Max Tenure 15 years
Processing Fee Upto 1.00%
Prepayment, Foreclosure Charges Allowed with nil charges for floating rate loans to individuals
Age Min 21 and Max 60 years for Salaried
Min 21 and Max 65 years for Self Employed
Apply Loan Against Property Online
 Salaried   Self Employed - Professional   Self Employed - Business 

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Standard Chartered Bank Loan Against Property

Standard Chartered Bank offers Loan Against Property to the customers if they need to expand their business or want money for personal use. The loan is given upto 70% of the market’s value for tenure of 18 years.

Loan Against Property Standard Chartered

Loan Against Property interest rates offered by Standard Chartered Bank depends upon MCLR
  • Floating rates changes with a single change in Standard Chartered Bank 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 Property Loan based on 6 Month MCLR which is currently 9.05%
Standard Chartered Bank mortgage loan interest rate depends upon
  • Loan amount: Standard Chartered Bank mortgage loan rate 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 Loan Against Property. 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

Loan Against Property 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 loan against property with Individual Borrower- Nil, Others- 4% of Outstanding balance prepayment charges
Processing Fee - Standard Chartered Bank asks for a processing fee of 1.00% of loan amount with applicable service tax

Standard Chartered Loan Against Property EMI Calculator

Loan Against Property EMI of Standard Chartered Bank is a fixed amount that you pay each month towards the repayment of your Loan till the end of tenure
  • Standard Chartered Bank Property Loan EMI calculator helps you to calculate your monthly EMI at different rate of interest and also check lowest EMI per lakh on Loan Against Property
  • 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 Loan Against Property EMI?
  • Standard Chartered Bank Property Loan EMI calculator helps you to calculate your monthly EMI at different rate of interest
  • Standard Chartered Bank EMI calculator for Loan Against Property 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 Loan Against Property Eligibility Calculator

Loan Against Property eligibility criteria Standard Chartered Bank
Eligibility of Loan Against Property 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: Standard Chartered Bank offers loan against property for a maximum tenure of 18 years if the borrower’s age does not exceed above 60 years for salaried and 65 years if you are self employed. Apply for loan at smaller age, higher will be the chances of loan approval
  • Value of the property: Standard Chartered Bank decides your loan amount based on the market value of the property which you place as your collateral for the loan. Standard Chartered Bank lends less than the market value of the property. As per RBI guidelines, the borrower also has to show some contribution. Ratio of loan amount to value of home is called Loan to Value (LTV) ratio. Standard Chartered Bank gives maximum LTV of 70% for property loans depending upon market value of the property
  • Repayment capacity of the borrower: Your eligibility to take loan against property depends upon the maximum EMI that you can pay. Standard Chartered Bank checks your past CIBIL history, repayment record of credit cards and existing loans that can impact your loan against property eligibility. If you have any other loan running whose EMI you are paying currently, then you are supposed to close your loan to get higher loan against property eligibility. Standard Chartered Bank does not specify any particular CIBIL score for being eligible for a property loan. However, it is observed that a score of 700 and above is desirable
    To reduce your burden of higher EMIs, Standard Chartered Bank gives you a maximum tenure of 18 years for a maximum loan amount of Rs.50,000,000 with a minimum spread of % over 6 Month MCLR. Opt for a loan tenure that suits you and higher the loan tenure, higher will be loan amount eligibility
  • Income: Loan against property are mostly taken by the people who are self employed in order to expand their business. However, in order to increase the loan amount you may club the income of family members like your spouse, parents, children and siblings
Estimated eligibility online by using Eligibility Calculator.
Popular Products:
  • Loan for Personal Use
  • Loan Against Commercial Property
  • Residential Property Mortgage Loan

Standard Chartered Bank Floating Rate Loan Against Property

Standard Chartered Bank Loan Against Property Floating
Upto Rs. 3,000,000 - 10.75%
Rs. 3,000,001 - 7,500,000 - 10.75%
Rs. 7,500,001 - 10,000,000 - 10.75%
Above Rs. 10,000,000 - 10.75% linked to 6 Month MCLR
with Home Saver Facility
Upto Rs. 3,000,000 - 11.00%
Above Rs. 3,000,001 - 7,500,000 - 11.00%
Above Rs. 7,500,001 - 10,000,000 - 11.00%
Above Rs. 10,000,000 - 11.00% linked to 6 Month MCLR

Standard Chartered Bank Loan Against Property Top up, Transfer

Transfer of Loan Against Property from another bank to Standard Chartered Bank?
Standard Chartered Bank offers loan against property balance transfer from another bank. This is subject to your meeting other eligibility criteria of Standard Chartered Bank
You can avail additional top-up loan against property from SBI, subject to your eligibility

Loan Against Property Standard Chartered documents required

Loan Against Property 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

Loan Against Property 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
  • 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

Property documents for Loan Against Property from Standard Chartered Bank

  • Registered Sale Deed/ Conveyance/ Lease Deed
  • Past Sale Deeds Chain (each transaction in respect of this property since first allotment
  • Latest House Tax Return/ Receipt
  • Approved Building Plan from Municipal Corporation
Past trends of MCLR of Standard Chartered Bank
04th Oct 16: 0.25% repo cut by RBI
05th Apr 16: 0.25% repo cut by RBI
05th Oct 15 9.50% decreased by 0.75%
29th Sep 15: 0.5% repo cut by RBI
02nd Jun 15: 0.25% repo cut by RBI
04th Mar 15: 0.25% repo cut by RBI
15th Jan 15: 0.25% repo cut by RBI
07th Aug 14 9.75% increased by 0.25%
28th Jan 14: 0.25% repo hike by RBI
18th Dec 13: 0% repo none by RBI
29th Oct 13: 0.25% repo hike by RBI
20th Sep 13: 0.25% repo hike by RBI
12th Sep 13 10.25% increased by 0.5%
03rd May 13: 0.25% repo cut by RBI
19th Mar 13: 0.25% repo cut by RBI
29th Jan 13: 0.25% repo cut by RBI
01st Oct 12 9.50% decreased by 0.25%
17th Apr 12: 0.5% repo cut by RBI
25th Oct 11: 0.25% repo hike by RBI
16th Sep 11: 0.25% repo hike by RBI
01st Sep 11 9.75% increased by 0.25%
26th Jul 11: 0.5% repo hike by RBI
22nd Jul 11 9.50% increased by 0.25%
16th Jun 11: 0.25% repo hike by RBI
20th May 11 9.25% increased by 0.75%
03rd May 11: 0.5% repo hike by RBI
17th Mar 11: 0.25% repo hike by RBI
21st Feb 11 8.50% increased by 0.5%
25th Jan 11: 0.25% repo hike by RBI
21st Dec 10 8.00% increased by 0.5%
02nd Nov 10: 0.25% repo hike by RBI
01st Oct 10 7.50% increased by 0.25%
16th Sep 10: 0.25% repo hike by RBI
27th Jul 10: 0.25% repo hike by RBI
02nd Jul 10: 0.25% repo hike by RBI
01st Jul 10 7.25%

Standard Chartered MCLR Vs. RBI Repo Rate Trend

Frequently Asked Questions

What are the five things to check before applying for loan against property in Standard Chartered ?

  • Property on which you intend to take loan is not a vacant land, has an approved map plan and is in municipal area. You must attach the entire chain of title documents of the property and its approved building plan with the loan application.
  • Your existing EMI’s on all loans and credit cards (from Standard Chartered Bank and other banks) are no more than 60 - 70% of your net monthly income
  • You have not defaulted on loans or credit card dues to Standard Chartered Bank and other banks and all EMI's have been paid. Note that Standard Chartered Bank can see record or status of your EMI defaults to all banks and NBFC’s in India and not just to Standard Chartered Bank in your CIBIL report. Estimate your CIBIL score for free by using CIBIL score estimate calculator
  • If you are salaried, ensure that you attach your recent salary slips, bank statements and last 3 years' Form 16 with the loan applicantion
  • If you are self employed in your own business or practice, your business must have been in existence for at least three years and last three income tax returns with audited financials must be available

Will Standard Chartered mortgage loan interest rate remain fixed or will it change in future?

  • Floating interest rate on Standard Chartered Bank property loan is linked to its 6 Month MCLR, which is currently 9.05%. So, when Standard Chartered Bank offers a loan against property at 10.75%, it applies a 1.7% premium to its MCLR to arrive at this rate
  • When market interest rates go up, the bank increases its base rate and the applicable rate for all existing loans goes up. When interest rates trend downwards, the bank has to reduce the base rate as it is not allowed to lend below the base rate. Thus, any benefit of lower rates will have to be passed to both old borrowers and new borrowers
  • Base rate benchmarked loans provide a better and more transparent interest rate transmission for the borrower compare to PLR benchmarked loans
  • Current MCLR of Standard Chartered Bank, its past trend and comparison with RBI repo rate are given here for your reference

Are prepayment or foreclosure charges applicable on Standard Chartered loan against property?

    You can prepay loan against property (LAP) without any penalty or charges in case:
  • Your loan is at a floating rate of interest and not at a fixed rate. Almost all loans against property are at floating rates and it is unlikely that yours is at a fixed rate of interest
  • The loan is in the name of one or more individual borrowers and none of the applicants and co-applicants is a business entity like a company or a firm or partnership or AOP

For loans from Housing Finance Companies, refer to NHB circulars NHB(ND)-DRS-Policy-Circular-63-14-15 dated Aug 14, 2014 and NHB-ND-DRS-Policy-Circular-No-66-2014-15 dated Sep 03, 2014 for more details.

Please contact myloancare at 0124 426 4004 or in case you need any assistance or clarification on this subject.

Standard Chartered Bank Loan Against Property in India

Standard Chartered Bank Loan Against Property Customer Care Number, Email, Application Status, Branches

City Customer Care Number
Agra 0522-6601444/ 0522-3940444,
Ahmedabad 079-66014444/ 079-39404444,
Ambala 0183-6601444/ 0183-3940444,
Anand 079-66014444/ 079-39404444,
Aurangabad 0712-6601444/ 0712-3940444,
Bangalore 080-66014444/ 080-39404444,
Bhilai 1800-345-1000,
Bhilwara 0141-6601444/ 0141-3940444,
Bhiwadi 0712-6601444/ 0712-3940444,
Bhopal 0755-6601444/ 0755-3940444,
Bhubaneswar Cuttack 0674-6601444/ 0674-3940444,
Bikaner 0141-6601444/ 0141-3940444,
Chandigarh 0172-6601444/ 0172-3940444,
Chennai 044-66014444/ 044-39404444,
Cochin 0484-6601444/ 0484-3940444,
Coimbatore 0422-6601444/ 0422-3940444,
Dehradun 1800-345-1000,
Delhi 011-66014444/ 011-39404444,
Durg 1800-345-1000,
Faridabad 0183-6601444/ 0183-3940444,
Gandhinagar 079-66014444/ 079-39404444,
Ghaziabad 0522-6601444/ 0522-3940444,
Goa 1800-345-1000,
Greater Noida 011-39404444/ 011-66014444,
Gurgaon 011-39404444/ 011-66014444,
Guwahati 1800-345-1000,
Gwalior 0755-6601444/ 0755-3940444,
Hyderabad 040-66014444/ 040-39404444,
Indore 0731-6601444/ 0731-3940444,
Jabalpur 0755-6601444/ 0755-3940444,
Jaipur 0141-6601444/ 0141-3940444,
Jalandhar 0181-6601444/ 0181-3940444,
Jodhpur 0141-6601444/ 0141-3940444,
Kanpur 0512-6601444/ 0512-3940444,
Karnal 0183-6601444/ 0183-3940444,
Kolhapur 0712-6601444/ 0712-3940444,
Kolkata 033-66014444/ 033-39404444,
Kota 0141-6601444/ 0141-3940444,
Kozhikode 1800-345-1000,
Lucknow 0522-6601444/ 0522-3940444,
Ludhiana 0161-6601444/ 0161-3940444,
Madurai 044-66014444/ 044-39404444,
Meerut 0522-6601444/ 0522-3940444,
Mehsana 079-66014444/ 079-39404444,
Mohali Sas Nagar 0172-6601444/ 0172-3940444,
Mumbai 022-66014444/ 022-39404444,
Mussoorie 1800-345-1000,
Nagpur 0712-6601444/ 0712-3940444,
Nashik 0712-6601444/ 0712-3940444,
Noida 011-39404444/ 011-66014444,
Noida Extn. 011-39404444/ 011-66014444,
Panipat 0183-6601444/ 0183-3940444,
Patna 0612-6601444/ 0612-3940444,
Pondicherry 1800-345-1000,
Pune 020-66014444/ 020-39404444,
Raipur 1800-345-1000,
Rajkot 0281-6601444/ 0281-3940444,
Ranchi 1800-345-1000,
Rohtak 0183-6601444/ 0183-3940444,
Roorkee 1800-345-1000,
Salem 044-66014444/ 044-39404444,
Shimla 1800-345-1000,
Sonepat 0183-6601444/ 0183-3940444,
Surat 0261-6601444/ 0261-3940444,
Trichy 044-66014444/ 044-39404444,
Udaipur 0141-6601444/ 0141-3940444,
Vadodara 0265-6601444/ 0265-3940444,
Varanasi 0522-6601444/ 0522-3940444,
Vijaywada 1800-345-1000,
Vizag 1800-345-1000,
Standard Chartered Loan Against Property News - Dec 2016
04th Aug 16 Standard Chartered India loss narrows to 25 million dollar in H1
Standard Chartered Bank narrowed its losses in India to 25 million dollar in the first six months of 2016. The bank earned 25 million dollar loss in the first half of this year which is lower than the 276 million dollar loss it reported in the corresponding period last year. Globally, however, the bank earned a 1 billion dollar profit with 13% drop in operating cost in the first half of the current year.
06th Jun 16 Standard Chartered to hire people to build up retail lending segment
Standard Chartered Bank plans to step up recruitment in India in the next few quarters as part of efforts to build up the lucrative but competitive retail lending segment to return to growth. The new staff will be mostly from rivals with experience in front end operations to help build relationships quickly, launch new products and get new clients in areas like wealth management. The bank plans to expand the its retail book with mortgages, personal loans and lending to small entrepreneurs through its network of branches in India. The bank will also invest in technology in the front and back ends, especially in mobile and online banking as part of this retail thrust.
09th Mar 16 Standard Chartered makes retail banking paperless
Standard Chartered Bank announced the global launch of a digital tablet-based sales-and-service tool that brings the bank to clients. Seamlessly integrated with the Bank back end infrastructure, Retail Workbench will allow sales staff to open an account for a client in any location and makes banking services like loan approvals and credit card issuance fast, simple and completely paperless. Retail Workbench is now going live in six markets in Malaysia, India, the UAE, Bangladesh, Nigeria and Kenya and is a part of the bank last year announcement that it will invest 1.5bn dollar in technology over three years
24th Feb 16 StanChart India posts Rs 6729 Cr loss
Standard Chartered Bank, one of the largest foreign banks in India, has posted a loss in 2015 due to rising bad loans and slow growth in loans and deposits
18th Nov 15 Zarine Daruwala quits ICICI Bank to join Standard Chartered
SCB, which faced losses this year due to rising bad loans, has appointed Zarin Daruwala of ICICI Bank as its India CEO
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