Standard Chartered Bank is a British multinational banking and financial services. It was established in 1969 and headquarters in London, England. It operates a network of more than 1200 branches and outlets across more than 70 countries and employees around 87000 people.
Loan against security is an overdraft facility that you get in return for pledging securities, such as mutual funds, bonds, shares and life insurance policies. It provides the benefits of a current account while letting you pay interest only on the amount used. Standard Chartered Bank loans against securities provide you a personalised cheque book to manage your account. It gets easy access to your account with the help of a service desk.
1. High loan amount upto Rs.20 lakh
2. Provide overdraft facility
3. Competitive processing free
4. Low interest rate starts at 9.50% to 12% per annum
5. Get easy access to your account with the help of service desk
6. Simple documentation
7. Get a personalised cheque book to manage your account
8. No prepayment penalties
To apply for a loan against securities you have to pay fees and charges applied by the Standard Chartered Bank. It covers all charges and fees made by a Standard Chartered Bank to their customers.The following charges are taken from Standard Chartered Bank loan against securities i.e processing fee, prepayment charges etc.
0.15% of the loan amount
Before applying for a loan against securities from Standard Chartered Bank, you should fulfil all basic eligibility criteria as prescribed by the bank. You will get your loan amount very soon if you meet all the required eligibility criteria once the documentation is done.
1. Minimum age 21 years and above.
2. Available in Mumbai, Pune, Ahmedabad, Vadodara, Surat, Delhi, Kolkata and Chenna
Any applicant who is going to avail for a loan against securities must have to submit the following documents. These documents are the requirements for the lenders who are providing you the amount of loan.
2. Latest statement of holding for mutual funds
3. Pledge form for the creation of pledge
4. Income proof = Latest salary slip showing all deductions or FORM 16 along with recent salary certificate
5. Last 2 years ITR
6. Last 6 month Bank Statement
7. Optional - Guarantor form (Mandatory in case of joint holdings)
10.50% to 12.75%
9.25% to 13%
8.20% to 12.50%
9.50% to 12%
There are two ways to apply for Standard Chartered Bank loan against securities :
1. Online Method
Today, almost every bank in India provides you with the option of availing loan against securities online. The whole process is fast and hassle-free. You can visit the official website of the bank from whom you wish to avail the loan and click on the ‘Apply Now’ button. You will have to enter the details required by the lender and upload the necessary documents. Once the bank has verified the details and documents submitted by you, the loan amount will be disbursed to your bank account.
2. Offline Method
You can visit the nearest branch of the lender from whom you wish to avail the loan along with the necessary documents. An official from the bank will then further assist you with the process of applying for a loan against securities scheme.
Standard Chartered Bank Loan Against Securities Customer Care
Contact number : 18003451000
Email id : firstname.lastname@example.org
The mathematical formula to calculate EMI is :
EMI = P × r × (1 + r)n/((1 + r)n - 1)
P= Loan amount,
r= interest rate,
n=tenure in number of months
Financials products offered by Bank
Interest rates of Standard Chartered Bank loans against securities start at 9.50% to 12% per annum.
Standard Chartered Bank loan against securities maximum loan amount is upto Rs.20 lakh.
The tenure period of Standard Chartered Bank loan against securities is 1 year.
You can apply online and online both for Standard Chartered Bank loan against securities
Yes, the minimum age of the customer is 21 years to take a Standard Chartered Bank Loan against securities.
The following formula is used to calculate EMI of Standard Chartered Bank loan against securities is EMI = EMI = P × r × (1 + r)n/((1 + r)n - 1), where P stands for Loan Amount, R stands for Interest Rate, N stands for tenure in number of months.
Loan against security is an overdraft facility that you get in return for pledging securities, such as mutual funds, bonds, shares and life insurance policies. It provides the benefits of a current account while letting you pay interest only on the amount used.Last Updated on : 27/Aug/2020
Know More About
You're eligible for a Standard Chartered Bank Loan Against Securities if you:
Are legally adult enough to handle it
Have still got it
Get a regular pay check
Make more than a basic buck
Your eligibility depends on:
Earn more than minimum income required
Maximum allowed Loans Against Securities is Rs. 10K to Rs. 45 lakhs
EMIs of other loans loweryour eligibility
Boost your eligibility by:
Pay off your credit card bills
Choose longer tenure loan up to 5 years
Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:
- 1. Photo ID and age proof
- 2. Signed application form with photograph
- 3. Residence proof
- 4. Last 6 months bank statement
- 5. Documentation for salaried applicants:
- Last 3 months salary - slips
- Form 16 or Income Tax Returns
- 6. Documentation for self-employed applicants:
- Last 3 years Income Tax Returns with computation of Income
- Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
Updated on 25 Nov 2017
|Standard Chartered Bank Loan Against Securities Details|
|Interest Rate (Monthly reducing balance)||9.5% - 12%|
|Processing Fees||Starting from 0.15% of the loan amount|
|Loan Tenure||1 year to years|
|Pre-closure Charges||Varies with bank|
|Guarantor Requirement||Varies with bank|
Loans Against Securities EMI Calculator