Standard Chartered Personal Loan EMI Calculator - Mar 2019

Last Updated 15th Mar 2019

Get monthly EMI as low as Rs. 2,174 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.

Standard Chartered Bank Personal Loan Calculator

Loan Amount1 year loan3 year loan5 year loan
Rs. 1 LakhRs. 8,838 Rs. 3,273 Rs. 2,174
Rs. 5 LakhRs. 44,189 Rs. 16,367 Rs. 10,869
Rs. 10 LakhRs. 88,377 Rs. 32,734 Rs. 21,737
Personal Loan EMI Calculator

Personal Loan EMI Calculator Standard Chartered

Standard Chartered Bank Personal Loan EMI

  • Personal Loan EMI (or equated monthly instalment) is a fixed amount of money paid by you to Standard Chartered Bank against the loan taken. This is towards repayment of your loan 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 Rs. 2,174 per lakh for a 60 tenure and lowest rate of interest on personal loans at 10.99%.

Personal loan EMI calculator at different tenures

Personal Loan EMI for different loan amounts and tenures @ 10.99% interest rate

Loan Amount (Rs.)2 Years3 Years5 Years
1 LakhRs. 4,660Rs. 3,273Rs. 2,174
3 LakhRs. 13,981Rs. 9,820Rs. 6,521
5 LakhRs. 23,302Rs. 16,367Rs. 10,869
10 LakhRs. 46,603Rs. 32,734Rs. 21,737
  • 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 4 years.
  • Each EMI includes a component of interest payment and principal repayment. Even as EMIs remain constant, every month there is a change in 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.
Use EMI Calculator to calculate your interest on personal loan at different tenure
Personal Loan EMI for Rs. 1 Lakh loan amount at lowest 10.99% interest rate offered by Standard Chartered Bankfor different tenures
2 years 3 years 5 years
Standard Chartered Bank EMI for a loan amount Rs. 1 lakh at 10.99% 4,660 3,273 2,174
Total amount you pay back to the bank including principal and interest 1.12 Lakh 1.18 Lakh 1.30 Lakh
Interest you have to pay over loan tenure 11,840 17,828 30,440

The above table shows that EMI paid on the 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 Rs. 1 Lakh loan from Standard Chartered Bank for a period of 4 years, you pay the lowest EMI of Rs. 2,174. However, you pay an interest of Rs. 30,440 on a Rs. 1 Lakh loan.
In contrast, if you take a Rs. 1 Lakh loan from Standard Chartered Bank at the lowest loan rate for a period of 2 years, you pay a higher EMI of Rs. 4,660 and pay an interest of only Rs. 11,840 which is less than half of what you pay for a 4 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 borrowed by a borrower 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 Rs. 1 Lakh which can go upto an amount of Rs. 30 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 10.99%. 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 loan for a maximum tenure of 5 years.

Standard Chartered Bank Personal Loan 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 above formula,

P = Loan amount. This can range from Rs. 1 Lakh to Rs. 30 Lakh

r = Rate of interest per month. Current rate is 10.99%

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

Tips to decide the right amount of EMI
  • 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 personal loan is an unsecured loan which 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 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 do an evaluation of 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 personal loan eligibility is a function 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 a 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 own 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.
    • Borrowers within the age group of 23 and 58 years.
    • Loan amount of minimum Rs. 1 Lakh to Rs. 30 Lakh.
    • Loan Tenure 1 to 5 years.
    • Interest rates in the range of 10.99% to 19.00%.
    • Lowest EMI of Rs. 2,174 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 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 calculates EMI considering 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.
Personal loan EMI – EMI changes in case of prepayment

In case you prepay your personal loan, the outstanding balance on your personal loan reduces. Standard Chartered Bank gives you two options:

  • Reduce your loan tenure and keep EMI on your personal loan unchanged: This option allows you to close your loan earlier and save the interest outgo associated with the remaining tenure. This is suitable for borrowers who feel that they have adequate income to continue servicing the same level of EMIs.
  • Reduce the amount of EMI and keep your loan tenure same: This option allows you to reduce your monthly EMI and hence, increases the availability of monthly surplus which you can deploy for other purposes. This is suitable for borrowers who anticipate higher monthly personal expenses and hence, would want to reduce their monthly EMI obligations.

FAQs on Standard Chartered EMI Calculator

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

It is advised to calculate personal loan EMI prior to 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 toapply for a lower loan amount which fits your monthly budget and makes EMI easilyaffordable
  • If you already know the EMI you have to pay each month, then you can plan your spendsaccordingly
  • Based on the EMI amount, you can opt for making prepayment of your personal loan infuture 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 10.99% interest rate and hence lowest EMI on per lakh loan amount is Rs. 2,174. However, Standard Chartered Bank personal loan interest rate for salary account holders or existing customers can vary.

What are the prepayment charges on Standard Chartered Bank ?

Standard Chartered Bank offers you an option of prepayment after 12 months at Nil charges.

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

Personal Loan from Standard Chartered Bank charges a processing fee of 1.00%.

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 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 personal loan from Standard Chartered Bank that will increase your personal loan eligiblity as the income of the co-applicant is also taken into account.

Compare Personal Loan EMI of All Banks

Standard Chartered Bank Personal Loan EMI Calculator 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 Personal Loan News - Mar 2019
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