Standard Chartered Personal Loan Interest Rate Calculator - Jan 2017

Standard Chartered Bank Personal Loan Interest Rates

Last Updated 18th Nov 2016
Salaried
Interest Rate 11.49% - 20.00% Check Special Offer
Lowest EMI Rs. 2,199 per lakh
Loan Tenure From 12 months to 60 months
Loan Amount Min Rs. 100,000 and Max Rs. 1,500,000
Processing Fee 0.50% to 1.00%
Age Min 23 years and Max 58 years
Prepayment Charges Not allowed
Foreclosure Charges Allowed after 12 EMI's, prepayment charges may apply
Apply Personal Loan Online @11.29%*
 Salaried   Self Employed - Professional   Self Employed - Business 





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Standard Chartered Bank Personal Loan

Standard Chartered Bank gives the facility of personal loan to the people who want money to achieve their urgent requirements. There are some features and benefits of taking personal loan from Standard Chartered Bank:
  • High amount of loan
  • Fast track loan processing
  • Superior service
    • Standard Chartered Bank has been rated 3.8/5.0 by customers for its service quality on MyLoanCare
    • Standard Chartered Bank has over 100 branches in India where you can avail service
    • Standard Chartered Bank offers special schemes and discounts for employees of large companies.
    Personal Loan interest rates in Standard Chartered Bank depends upon
    • Loan amount: Personal loan rate in Standard Chartered Bank depends upon the 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 personal loan. Interest rate will be less if your company is listed
    • Your Salary: Income helps you in determining your rate of interest. Standard Chartered Bank interest rate varies with your monthly income. Higher the income, less will the rate of interest
    Popular Products:
    • Loan for Personal Expenses
    • Personal Loan for Salaried
    • Personal Loan for Self Employed

    Standard Chartered Personal Loan Eligibility

    Eligibility of personal loan in SBI 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 offers personal loan to salaried individuals who are atleast 23 years old at the time of loan approval and maximum 58 years at the time of loan maturity.
    • Income: Standard Chartered Bank Loan eligibility significantly depends upon your income. Usually bank set minimum levels of income to apply for personal loan. Standard Chartered Bank asks for net monthly income of minimum Rs. 50,000.
    • Job stability and Profession: Job stability is important to improve your status and eligibility for personal loan from Standard Chartered Bank. In case you are salaried, you must be in a full time job for at least 36 months of which not less 3 months must be with your current company. In case you are self-employed, you must be in current profession or business for at least 0 years and should preferably own either your office or your place of residence. Minimum turnover and minimum net income criteria may apply. 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 personal loan from Standard Chartered Bank increases as the income is considered to be more stable and bank offers low interest personal loan to the employees of reputed companies
    • CIBIL Score: Your past CIBIL history and repayment record of existing loans and credit cards has direct impact on your personal 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 personal loan eligibility.
    • Loan Amount: Standard Chartered Bank gives you personal loan depending upon your income. Standard Chartered Bank gives you an amount ranging from Rs. 100,000 to Rs. 1,500,000. To improve chances of approval, apply for a loan amount that you can comfortably service.

    Standard Chartered Personal Loan EMI

    Personal Loan EMI of Standard Chartered Bank is a fixed amount that you pay each month towards the repayment of your personal loan till the end of tenure. Lowest EMI offered by Standard Chartered Bank is Rs. 2,199 per lakh loan amount at lowest personal loan interest rate of 11.49%. Personal Loan EMI of Standard Chartered Bank depends on factors like:
    • 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 longer tenure reduces your monthly EMI per lakh
    • Your EMI depends upon the amount of loan you are going to borrow. Loan EMI will be high if you apply for a high loan amount

    Documents Required for Standard Chartered Personal Loan

    Personal loan Standard Chartered Bank documents for Salaried employees

    • Filled up loan application form
    • 1 Passport Size Photo
    • Copy of Income Tax PAN
    • 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 – 3 months payslip, 1 years Form 16, 3 months bank statement showing salary credit and any EMI debit

    Fee and Charges on Personal Loan Standard Chartered

    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 personal loan after paying 12 EMI’s with prepayment charges may apply
    Processing Fee- Standard Chartered Bank asks for a processing fee of 0.50% to 1.00% of loan amount with applicable service tax

    Standard Chartered Personal Loan Top up, Transfer

    • Standard Chartered Bank offers personal 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 personal loan from Standard Chartered Bank, subject to your eligibility
    Illustration on Personal Loan Standard Chartered Bank
    Maximum Annual Percentage Rate (APR) 11.89% to 20.4%
    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: Rs. 100,000
    • Time period: 12 months to 60 months
    • Standard Chartered Bank Personal Loan Interest Rate: 11.49% to 20.00%
    • Processing Fee payable to Standard Chartered Bank: Upto Rs. 2,000. Current offer for processing fee is 0.50% to 1.00%
    • Fee payable to MyLoanCare: NIL
    • Total Monthly Cost – From Rs. 2,199 for a 60 months Rs. 100,000 loan at 11.49% (lowest rate, longest time period) to Rs. 9,263 for a 12 months Rs. 100,000 loan at 20.00% (highest rate, shortest time period). This is inclusive of principal repayment.
    • Annual Percentage Rate (APR) of charge including all applicable fees: 11.89% to 20.4%
    • Total cost payable over loan tenure: Rs. 13,161 for 12 months loan to Rs. 33,926 for 60 months loan
    Standard Chartered Bank’s terms and conditions as per loan agreement applicable. Short term loans/ pay day loans not available; minimum loan tenure - 12 months. Rate of interest depends upon company categorization, income, job stability, loan amount, CIBIL score, credit profile, existing obligations, verification and other factors. Credit at sole discretion of Standard Chartered Bank.

    Compare Personal Loan Interest Rates of Standard Chartered with other banks

    Frequently Asked Questions on Standard Chartered Personal Loan

    How much interest is charged by Standard Chartered Bank on personal loan?

    Standard Chartered Bank offers an interest of 11.49% to 20.00% on personal loan.

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

    If you apply for a personal loan from Standard Chartered Bank, your lowest EMI per lakh will be Rs. 2,199.

    What is the minimum and maximum tenure of Standard Chartered Bank personal loan?

    You can repay your personal loan from Standard Chartered Bank in a flexible period of minimum 12 months to maximum 60 months.

    How much personal loan amount I can borrow from Standard Chartered Bank?

    Standard Chartered Bank offers you personal loan if you need a minimum amount of Rs. 100,000 to a maximum amount of Rs. 1,500,000.

    How much processing fee is charged by Standard Chartered Bank on personal loan?

    Standard Chartered Bank charge a processing fee of 0.50% to 1.00% with applicable service tax.

    Is age an eligibility factor to get personal loan from Standard Chartered Bank?

    Yes, age is an important eligibility factor to get Standard Chartered Bank personal loan as you should be at least 23 years old at loan approval time and 58 years old at loan maturity time.

    Are there any prepayment charges on Standard Chartered Bank personal loan?

    You can take personal loan from Standard Chartered Bank with prepayment charges may apply.

    Can I add my spouse’s income while applying for personal loan from Standard Chartered Bank?

    You can combine your income with the income of your spouse to increase your loan eligibility and to get higher loan amount.
Standard Chartered Personal Loan News - Jan 2017
21st Dec 16 Standard Chartered Private Equity invests in IFMR Capital
Standard Chartered PE invests Rs. 340 crore in IFMR Capital Pvt. Ltd., a Chennai based non banking financial company. The funding will help the company in expanding its lending business in the segments of affordable housing finance, micro finance, small business loans, vehicle loans and agricultural loans.
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
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