MyLoanCare is a FREE of cost service for borrowers

Get Cashback of Upto ₹ 1,000* on Personal Loan Apply Online

MyLoanCare Customer Ratings - 4.5/5.0

Standard Chartered Personal Loan EMI Calculator - Feb 2021

Standard Chartered Bank Personal Loan Calculator

Last Updated 16th Feb 2021

Get monthly EMI as low as ₹ 2,199 per lakh on Standard Chartered Bank personal loan. Personal loan EMI in Standard Chartered Bank depends upon loan amount, loan tenure, interest rate, monthly salary and company that you work for.

Loan Amount1 Year Loan3 Year loan5 Year loan
₹ 1 Lakh₹ 8,862₹ 3,298₹ 2,199
₹ 5 Lakh₹ 44,308₹ 16,488₹ 10,996
₹ 10 Lakh₹ 88,615₹ 32,976₹ 21,993
Personal Loan EMI Calculator Or Free Corona Health Insurance Cover of up to ₹5 lakh
Lowest Interest Rate
Best Offers on Personal Loan offerOffers
Bank/NBFCs Rate* EMI per Lakh* Action
HDFC Bank10.50%₹ 2,149Check Eligibility
Bajaj Finserv12.99%₹ 2,275Check Eligibility
ICICI Bank10.75%₹ 2,162Check Eligibility

* Starting From

Personal Loan EMI Calculator Standard Chartered

  • Personal Loan EMI (or equated monthly instalment) is a fixed amount of money paid by you to Standard Chartered Bank against the loan taken for repayment of your loan and payment of interest to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.
  • Standard Chartered Bank offers affordable and convenient personal loans with loan EMIs as low as ₹ 2,199 per lakh for a tenure of 60 months and lowest rate of interest at 11.50%.
  • Standard Chartered Bank Personal loan EMI calculator is a convenient and reliable tool that helps the loan borrower determine the loan repayment schedule. In addition to that, the Standard Chartered Bank personal loan EMI calculator helps first-time loan borrowers to ensure whether they should opt for a loan or not.

Personal loan EMI calculator at different tenures

Personal Loan EMI for different loan amounts and tenures @ 11.50% interest rate

Loan Amount (Rs.)2 Years3 Years5 Years
1 Lakh ₹ 4,684 ₹ 3,298 ₹ 2,199
3 Lakh ₹ 14,052 ₹ 9,893 ₹ 6,598
5 Lakh ₹ 23,420 ₹ 16,488 ₹ 10,996
10 Lakh ₹ 46,840 ₹ 32,976 ₹ 21,993
  • From the above table, it can be interpreted that for various loan amounts taken at the lowest interest rate, EMI differs for loans taken at different tenures. Your EMI is higher when you take a loan for a shorter tenure of 2 years and is higher for a longer tenure loan of years.
  • Each EMI includes a component of interest payment and principal repayment. Even as EMIs remain constant, every month, there is a change in the proportion of interest component and principal repaid. With every EMI payment, the proportion of principal repayment in EMI keeps increasing and the interest component keeps reducing.
Standard Chartered Bank Personal Loan Interest Calculator
Personal Loan EMI for ₹ 1 Lakh loan amount at lowest 11.50% interest rate offered by Standard Chartered Bank for different tenures
Calculated Results for Standard Chartered Bank Home Loan EMI 2 years 3 years 5 years
Standard Chartered Bank EMI for a loan amount Rs. 1 lakh at 11.50% ₹ 4,684 ₹ 3,298 ₹ 2,199
Total amount you pay back to the bank including principal and interest ₹ 1.12 Lakh ₹ 1.19 Lakh ₹ 1.32 Lakh
Interest you have to pay during the loan tenure ₹ 12,416 ₹ 18,728 ₹ 31,940

The above table shows that EMI paid on loan will be lower for a loan taken for a longer tenure. However, your total interest outgo is significantly higher in a long tenure loan. In the above example, if you take a ₹ 1 Lakh loan from Standard Chartered Bank for 60 years, you pay the lowest EMI of ₹ 2,199. However, you pay an interest of ₹ 31,940 on a ₹ 1 Lakh loan.
In contrast, if you take a ₹ 1 Lakh loan from Standard Chartered Bank at the lowest loan rate for 2 years, you pay a higher EMI of ₹ 4,684 and pay an interest of only ₹ 12,416 which is less than half of what you pay for a 60 year loan. Hence, it is advisable to choose your loan tenure wisely as longer tenure means high interest expenses.

Factors affecting Standard Chartered Bank Personal Loan EMI

  • Loan amount – This is the amount that you have borrowed from Standard Chartered Bank. If you apply for a higher loan amount, your monthly EMI will be high. Standard Chartered Bank gives a minimum loan of ₹ 1 Lakh, which can go upto an amount of ₹ 50 Lakh.
  • Interest rate - Higher interest rate increases your loan EMI as well as the total cost of the loan. Standard Chartered Bank personal loan interest rate for salary account holders can be lower than their quote rates, which can reduce the overall cost of loan and EMI. Lowest interest rate offered by Standard Chartered Bank is 11.50%. However, it is advisable to do complete market research and compare rates online before you apply for a loan.
  • Loan tenure – This is the period in which you can repay your loan in Standard Chartered Bank. Longer loan tenure means lower personal loan EMI. Generally, Standard Chartered Bank offers a loan for a maximum tenure of 5 years.

Personal Loan Amortization Calculator

An amortization schedule is a table of periodic loan payments that shows the amount of principal and the amount of interest that comprise each payment until the loan is paid off at the end of its term.

In the Amortization schedule, your Personal Loan monthly EMI will be equal, but the component of EMI, which consists of interest payment and principal payment will not remain the same every month, it keeps on changing.

Illustration: How to read an amortization schedule

Suppose if you take a Personal Loan of ₹ 2.50 Lakh for 4 years at an interest rate of 10.40%. EMI calculated for this loan amount is ₹ 6,389 and the total annual EMIs to be paid annually is ₹ 76,665. The EMI schedule of loan for 4 years is explained below in the table –

Amortization Schedule for a Personal Loan of ₹ 2.50 Lakh over the 4 years

Year Interest paid during the year Principal repaid during the year Total amount paid during the year (Interest + Principal) Outstanding Principal
2021 ₹ 21,768 ₹ 48,509 ₹ 70,277 ₹ 2,01,491
2022 ₹ 18,221 ₹ 58,444 ₹ 76,665 ₹ 1,43,047
2023 ₹ 11,845 ₹ 64,820 ₹ 76,665 ₹ 78,226
2024 ₹ 4,773 ₹ 71,893 ₹ 76,665 ₹ 6,334
2025 ₹ 55 ₹ 6,334 ₹ 6,389 -₹ 0

Each Personal Loan EMI consists of both amounts of interest as well as the principal repaid. The interest component of EMI goes down while the principal component goes up in both cases while doing the calculation.

In the above illustration, on a Personal Loan of ₹ 2.50 Lakh, taken at the lowest interest rate of 10.40%, EMI paid is ₹ 6,389 and an annual total of EMIs is ₹ 76,665, the interest component is ₹ 23,514 while the principal component is ₹ 53,152 in year 1 of loan disbursement. You repay only 21.26% of the total principal after paying 12 EMIs during the first year.

In year 4, the interest component of EMI is around 5.41%, while the principal component is around 94.59%. Upto 4 years, you have cumulatively repaid 100% of your total Personal Loan.

Standard Chartered Bank Personal Loan Interest Calculator Formula

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

Here is an illustration of how Standard Chartered Bank Personal Loan EMI is calculated:

In the above formula,

P = Loan amount. This can range from ₹ 1 Lakh to ₹ 50 Lakh

r = Rate of interest per month. Current rate is 11.50%

n = tenure in month. For Standard Chartered Bank, this can be 60 months

How to decide the right amount of EMI?

As a borrower, calculating right amount of EMI is a function of your loan requirement, your monthly income, repayment capacity as well as the amount of monthly instalment you can afford to pay out from your monthly income. As a guide, follow the below steps to estimate the EMI amount that is advisable for you.

  • Decide the amount you need to borrow: It is important that before approaching a bank for loan, you need to estimate the amount of loan you need to borrow. Remember, a personal loan is an unsecured loan that can come at high interest rates and hence, it is advisable to limit your loan amount to the minimum required. Also, based on the EMI you can service, try to opt for the lowest tenure of loans as long tenure loans result in huge interest outgo.
  • Review your current obligations: Before taking a loan, it is advisable to evaluate your current monthly expenses including any EMI obligations that you have on your current loan accounts. The assessment will help you to estimate the amount of EMI you can pay comfortably after taking into account other obligations. Once you arrive at the EMI you can service, you can also decide on the right loan tenure.
  • Calculate your Standard Chartered Bank personal loan eligibility: Your loan eligibility is a function of an assessment of your repayment capacity based on your monthly income and other fixed obligations.
    • Multiplier based loan amount eligibility - Standard Chartered Bank calculates your loan amount eligibility by applying a multiplier to your net-take home salary. This is the simplest method for calculating loan eligibility used by banks. The formula used in the loan amount eligibility calculation is: Loan Eligibility = (Your Net Salary) x (multiplier of 9 to 18). The multiplier depends on the bank’s internal categorization of your employer company based on its reputation, stability, size, and growth in turnover.
    • FOIR based loan amount eligibility - Standard Chartered Bank will also estimate your Fixed Income to Obligations Ratio (FOIR) to ascertain the maximum EMI you can service based on your current income and other monthly expenses. The bank applies a certain ratio to your income to estimate your monthly expenses and then adds your other EMI obligations to calculate your fixed obligations. The proportion of fixed income to your calculated fixed obligations gives your FOIR. Standard Chartered Bank lends up to a maximum FOIR of 0.45. Based on the FOIR, the bank will also estimate the maximum amount of EMI you can service as a borrower. Standard Chartered Bank's assessment may be different from your assessment. Any differences in assessment may require you to readjust your loan amount requirement. You may also consider paying back other running short term loans to improve your eligibility.
    • Standard Chartered Bank will calculate your loan amount eligibility based on the above two methods and will sanction you a lower loan amount arrived at by the above two methods.
Quick guide on Standard Chartered Bank personal loan
  • Purpose of Loan: Standard Chartered Bank personal loan is taken to funding medical treatment in case of emergencies, paying additional debts, marriage expenses and other personal finance requirements.
  • Key Features
    • Loan available for both salaried individuals and self-employed professionals.
    • Borrowers within the age group of 23 and 58 years.
    • Loan amount of minimum ₹ 1 Lakh to ₹ 50 Lakh.
    • Loan Tenure 1 to 5 years.
    • Interest rates in the range of 11.50% to 18.00%.
    • Lowest EMI of ₹ 2,199 per lakh.
  • Processing Fees: 1.00% of loan amount. This is to be paid at the time of loan application
  • Special schemes: Standard Chartered Bank offers customised personal loan interest rates and schemes for a special category of borrowers, including borrowers working in reputed companies, banks or government employees etc.

Personal loan EMI calculator Standard Chartered Bank – How it works?

  • Standard Chartered Bank personal loan calculator are online tools which give out EMI calculations using a combination of loan amount, interest rate and loan tenure.
  • Standard Chartered Bank EMI calculator considers “reducing balance basis” and assumes that payment of EMI is made in arrears (means interest is charged for the month preceding the EMI payment date) and not in advance.

In case you prepay your personal loan, the outstanding balance on your loan reduces. In this scenario, Standard Chartered Bank will allow you to reduce your loan tenure or reduce your EMI. The right decision is dependent on you monthly budget and personal preference. You should opt to reduce your EMI if you want to have a higher monthly spend budget or you should opt to lower your tenure if you want to save on your total interest outgo and want to close your loan quickly. You can calculate the change in your EMI by inputting the outstanding personal loan amount from Standard Chartered Bank, the interest rate and the remaining tenure in the EMI calculator.

Other Loan Calculators

FAQs

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

It is advised to calculate personal loan EMI in advance before taking a personal loan. There are several benefits of calculating your Standard Chartered Bank personal loan EMI 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 makes EMI easily 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 prepayment of your personal loan in future when you have surplus amount

What is the lowest EMI per lakh offered by Standard Chartered Bank on personal loan?

Standard Chartered Bank offers personal loan at 11.50% interest rate for a maximum of 60 months, and hence lowest EMI on per lakh loan amount is ₹ 2,199. However, Standard Chartered Bank may offer a lower interest rate and EMI for their salary account holders or existing bank customers can vary.

How can I pre close Standard Chartered Bank personal loan?

You can preclose your Standard Chartered Bank personal loan by visiting the branch with the required set of documents. Submit the form of preclosure, pay the amount and take the acknowledgement of balance amount that you have paid.

What are the prepayment charges on Standard Chartered Bank ?

Standard Chartered Bank offers you an option of prepayment after 1 months at 5% charges before 12 months, 4% charges after 12 months.

Is there any processing charge on personal loan from Standard Chartered Bank?

Yes, Standard Chartered Bank charges a certain amount of processing fee to process your loan application. Currently, Standard Chartered Bank charges a processing fee of 1.00% on Personal Loan.

Will I get the personal loan from Standard Chartered Bank if i have a bad credit score?

No, for taking a loan from Standard Chartered Bank, an applicant must have a good credit score of 700 and above. Usually, most of the banks avoid giving loans if you have a low credit score.

How does a personal loan repayment happen?

The repayment of a personal loan happens in the form of an EMI (Equated Monthly Installment) through the customer's bank account. The customer is required to present a few post dated cheques and sign an ECS mandate in favour of the bank at the time of loan disbursal.

Can I have a co-applicant while applying for a Personal loan with Standard Chartered Bank ?

Yes, you can opt for a co-applicant to take a personal loan from Standard Chartered Bank that will increase your loan eligiblity as the income of the co-applicant is also taken into account.

Can we pay more than EMI in Standard Chartered Bank personal loan?

If you have funds, then you can pay more than the regular EMI on your loan. This will reduce your interest burden along with the outstanding principal. You can also pay one additional EMI every year to reduce loan tenure and in turn interest amount.

How can I pay my Standard Chartered Bank loan EMI?

You can pay the EMI on personal loan by using ECS facility or standing instruction. You can also visit the branch and submit the EMI cheque.

Compare Personal Loan EMI of All Banks

Standard Chartered Bank Personal Loan 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 Bihar 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
Sonipat 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 Bank Personal Loan Reviews 4.3/5  by 17 customers
MyLoanCare Service
4.5/5.0
Banks Service
4.2/5.0
Sudheer Goturi, Hyderabad
Reviewed on 22nd Feb 2017
5 / 5 stars
Standard Chartered Bank Personal Loan Availed in Feb-17

It was Great experience with Mr.Karan... I wish to thanks to Karan to followup with Bank and includeRead more...

satish gogulamudi, Hyderabad
Reviewed on 03rd Dec 2016
3 / 5 stars
Standard Chartered Bank Personal Loan Availed in Nov-17

Okay with the service for now, interested in a home loan. The partner bank stanchart misled on the Read more...

Mahendra Sharma, Delhi
Reviewed on 29th Sep 2016
4 / 5 stars
Standard Chartered Bank Personal Loan Availed in Sep-17

Excellent help by myloancare team. Lowest interest rate as compared to other portals for loan requirRead more...

senthil kumar, Bangalore
Reviewed on 25th Aug 2016
4 / 5 stars
Standard Chartered Bank Personal Loan Availed in Aug-17

It was good experience. Got the help to decide which bank to choose and till the end.Read more...

Rajendra Prasad, Kolkata
Reviewed on 23rd Jun 2016
4 / 5 stars
Standard Chartered Bank Personal Loan Availed in Jun-17

It was a good experience availing the loan, the procedure was properly explained by Vijay Kumar. WitRead more...

Shiv Dave, Mumbai
Reviewed on 25th May 2015
4 / 5 stars
Standard Chartered Bank Personal Loan Availed in May-17

I have my salary account with the bank. When I approached them for a loan requirement they were quicRead more...

Rajneesh Makkar, Mumbai
Reviewed on 16th Apr 2015
3.5 / 5 stars
Standard Chartered Bank Personal Loan Availed in May-17

When my loan advisor offered me a personal loan from Standard Chartered Bank, I was not sure if theyRead more...

Venkatesan, Mumbai
Reviewed on 20th Feb 2014
4 / 5 stars
Standard Chartered Bank Personal Loan Availed in Jan-17

Best loan for a salaried professional working with a MNC. Got the the lowest rate on offer with goodRead more...

Notification ×
  • Personal Loan

    Personal Loan for all kind of needs at lowest rates starting @ 10.40%.

    Check Eligibility
  • Personal Loan

    Instant Personal Loan starting at % with Cashback of up to ₹ ₹ 1,000 .

    Know More
  • Personal Loan Balance Transfer

    Transfer Personal Loan to other bank at lower rates starting @ 10.40%.

    Apply Now
  • Personal Loan for Govt Employees

    Special Offers for Govt employees with Cashback of upto ₹ ₹ 1,000.

    Apply Now
Standard Chartered Bank Personal Loan News - Feb 2021
  • 2019-03-15 : Standard Chartered Bank to launch digital SME platform in 2019
    Standard Chartered Bank has announced that it will launch an open platform for Small and Medium Enterprises (SMEs) in India. The goal is to help SMEs grow by providing access to a range of financial and business solutions. The platform will offer solutions to business including business loans, supply chain financing and logistics. The platform will be available to clients in India in the second half of 2019. In addition to this, the bank is also planning to achieve a significant boost across its personal loans segment.
  • 2018-12-04 : Standard Chartered Bank plans to boost its personal loans portfolio to 40%
    In a bid to cope up with the stress in the corporate segment, Standard Chartered Bank is planning to achieve a significant growth of 40 percent in personal loans segment from 29 percent earlier. In addition to this, the bank will also stress upon other loan portfolios and products including mortgage loans, personal loans, credit cards as well as SME loans.
  • 2018-07-24 : Standard Chartered Bank lends Rs 3500 to Vedanta
    Standard Chartered Bank has loaned Rs 3500 crore to help finance the purchase of Electrosteel. This loan is for ten years and the loan is provided on interest rate between 8.7 percent to 9.10 percent. Vedanta was officially declared the successful bidder for Electrosteel and In June, the acquisition process was completed with the new management taking control.
  • 2018-02-22 : Standard Chatered Bank hikes MCLR by 10 basis point
    Standard Chatered Bank hiked its MCLR by 10 basis points in the two and three year tenors. These rates will be effective from February 7. Consequently, the MCLR is now is the range of 8.70% and 9.65%.
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
Loader
Please wait while your information is being processed...