Apply Now

STANDARD CHARTERED BANK PERSONAL LOAN

Standard Chartered bank offers personal loans with the amount ranging up to Rs 30 lakh. Getting a personal loan from Standard Chartered bank costs competitive interest rates starting from 11.49% per annum and allows you to make repayment of your loan within an easy tenure ranging up to 5 years. The SCB personal treats you with an opportunity to manage your expenses without stressing on the shortfall. Whether it is an exotic vacation that you are yearning to go on or there are debts you wish to clear, Standard Chartered bank personal loan is there to have your back. 

Standard Chartered Personal Loan Highlights

Loan Amount Ranges from Rs 1 lakh to Rs 30 lakh
Interest Charges Starts from 11.49% 
Processing Fees 2.25% of the loan amount + GST 
Tenure Up to 60 months
Prepayment Charges
  • Within 12 months: 5% of the principal outstanding
  • Between 13 to 24 months: 4% of the principal outstanding
  • Between 25 to 36 months: 2% of the principal outstanding
  • After 36 months: 1% of the principal outstanding

Standard Chartered Bank Personal Loan: Features and Benefits

Here are the important features and benefits of Standard Chartered bank personal loan:

Loan for Different Financial Requirements : You can apply for a SCB personal loan to fulfill many aspirations that you have. You can apply for this loan to get funds to pay different types of expenses such as wedding, education, home renovation/repairs, debt consolidation etc. 

Loan Amount : There are many factors that help the bank decide what loan amount you should be provided. These factors include your employment history, income and credit rating etc. Generally, Standard Chartered bank personal loan amount starts at Rs 1 lakh and goes up to Rs 30 lakh depending on individual to individual.

Interest Charges : Standard Chartered bank personal loan is offered at interest rates starting from 11.49% per annum. The rates are determined by various factors which include your income, repayment tenure, creditworthiness etc. If you have an existing relationship with the bank, then also the personal loan rates are likely to reduce. 

Loan Repayment Period : SCB personal loan provides customers an easy repayment period that ranges from 12 months to 60 months. You can opt for the repayment tenure according to the loan amount you take.

Prepayment : Standard Chartered bank allows you to make prepayment of your personal loan, given that you have enough funds to close the loan before the tenure comes to an end. Here are the prepayment charges that you will have to pay:

  • If you opt to prepay your loan within 12 months, you will be charged 5% of the principal outstanding.
  • If you opt to prepay your loan between 13-24 months, you will be charged 4% of the principal outstanding.
  • If you opt to prepay your loan between 25-36 months, you will be charged 2% of the principal outstanding.
  • If you opt to prepay your loan after 36 months, you will be charged 1% of the principal outstanding. 

Standard Chartered Bank Personal Loan Eligibility

Standard Chartered bank checks your eligibility looking at different factors such as your age, your employment type and history, credit history etc. When applying for a SCB personal loan, it is important to make sure that you meet the eligibility criteria for Standard Chartered bank personal loan.

Here is the eligibility criteria for SCB personal loans:

  • Salaried individuals and self employed people can apply for Standard Chartered personal loans.
  • The minimum age of the loan applicant should be 22 years.
  • The maximum age of the applicant should not be more than 58 years during the time loan termination.
  • The applicant should have a steady employment.
  • The applicant should have steady income. 

Documents Required for Standard Chartered Bank Personal Loan Application

You have to keep all the documents that are required for Standard Chartered personal loan ready when applying for the loan. There are some documents that the bank demands in order to move further with your personal loan application. If you fail to provide the necessary documents, then your application is most likely to be rejected. 

Here are the documents required for Standard Chartered bank personal loan:

Documents

Salaried Individuals

Self Employed Individuals

Identity Proof

Aadhar Card, Passport, Driving Licence, Voter ID Card

Aadhar Card, Passport, Driving Licence, Voter ID Card

Address Proof

Passport, Voter ID Card,  Recent Utility Bill such as Electricity Bill, Water Bill, Telephone Bill

Passport, Voter ID Card,  Recent Utility Bill such as Electricity Bill, Water Bill, Telephone Bill

Income Proof

Salary Slips, Bank Statement, Form 16, Salary Certificate

IT returns, Bank Statements, Balance Sheet and Profit & Loss Account, Challans Showing Payment of Advance Income Tax

Other Documents

Passport-size Photographs, Application Form

Passport-size Photographs, Application Form

COMPARE OTHER BANK PERSONAL LOAN INTEREST RATE:

BANKS

INTEREST RATES

AXIS Bank Personal Loan

12% to 24%

SBI Personal Loan

11.30% to 16.40%

HDFC Bank Personal loan

10.75% to 21.50%

Kotak Mahindra Bank Personal Loan

10.50% to 16.99%

Yes Bank Personal Loan

20.00% to 22.00%

Citi Bank Personal Loan

10.50% to 17.99%

ICICI Bank Personal Loan

10.99% to 16.25%

IDBI Bank Personal Loan

12.00% to 14.00%

RBL Bank Personal Loan

14.00% to 23.00%

HSBC Bank Personal Loan

10.75% to 17.84%

IndusInd Bank Personal Loan

11.00% to 16.75%

Bank of Baroda Personal Loan

7.65% to 12.65%

Bank of India Personal Loan

12.15% to 14.15%

Canara Bank Personal Loan

12.05% onwards

Standard Chartered Personal Loan EMI Calculator

You can count on the SCB personal loan EMI calculator when you want to know the EMI which will be payable by you every month. Doing this will help you do your financial calculations and plannings accordingly. You can go to the official website of the bank and find the tool there. You will be required to enter the loan amount, tenure and interest in order to calculate the EMI.

Here are the steps to use Standard Chartered bank loan EMI calculator:

  • Navigate to the official website of Standard Chartered bank.
  • Now, you have to find and click on the “Personal Loans” option.
  • After that, you have to move to the “Personal Loan Calculator” on the personal loan page.
  • Input the loan amount you are availing, total years of repayment tenure and the rate of interest. 

Once you have entered the necessary details, you will be able to see the payable EMI below the calculator.

The following formula is used to calculate EMI of Standrad Chartered Bank personal loan ::

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

where,

EMI = Equated Monthly Installment

  • P = Principal Loan Amount
  • R = Monthly Interest Rate
  • N = Number of Monthly Installments

How to Apply for a Standard Chartered Bank Personal Loan

Applying for a SCB personal loan is pretty simple and can be done offline or online. You can visit the nearest branch of the Standard Chartered bank in order to apply for a personal loan offline. The bank official will provide you help with the personal loan application procedure. When you visit the bank to apply for Standard Chartered bank personal loan offline, make sure you have all the required documents that are needed to be submitted with the application. 

If you are not visiting the bank to apply for SCB personal loan, then you can do it with a few simple clicks from your home. In order to apply for Standard Chartered bank personal loan online, you can visit the official website of the bank and get started.

Here are the steps that you need to follow in order to apply for Standard Chartered personal loan online:

  • Go to the official website of Standard Chartered bank.
  • On the page, you will find the “Personal Loans” option. Click on that.
  • Once you are in the personal loan section, you need to hit the “Apply Now” button.
  • Now on the application page, you have to enter the required information including the city you live in. 
  • Hit “Proceed “ to continue with the application process.

Standard Chartered Bank Personal Loan Customer Care

If you are facing any problem with your SC bank personal loan application or have any query regarding it then you can reach out to the Standard Chartered bank customer helpline and talk to the executive. 

Here are the Standard Chartered bank customer service numbers:

City Numbers
Mumbai, Pune, Hyderabad, Bangalore, Chennai, Kolkata, Ahmedabad, Delhi 6601 4444 / 3940 4444
Jaipur, Kanpur, Lucknow, Chandigarh, Amritsar, Jalandhar, Ludhiana, Patna, Nagpur, Surat, Rajkot, Vadodara, Coimbatore,  Cochin / Ernakulam, Bhubaneswar, Allahabad, Indore, Bhopal 6601 444 / 3940 4444
Gurgaon, Noida  011 - 39404444 / 011 - 66014444
Cuttack, Visakhapatnam, Thiruvananthapuram, Mathura, Proddatur, Dehradun, Mysore, Saharanpur, Jalgaon, Guwahati, 1800 345 1000
Siliguri 1800 345 5000

FAQs On SCB Personal Loan

Q.1 How can I track the status of Standard Chartered personal loan application?

In order to track your Standard Chartered personal loan, you can go to the official website of the bank. You can enter your application reference number with ‘#’ and your registered mobile number. You can also contact the Standard Chartered customer service to know the status of your SC bank personal loan application.

Q.2 What if I make a late payment of my Standard Chartered bank personal loan EMI?

You will be charged Rs 495 plus GST on making late payments of your Standard Chartered bank personal loan EMI. 

Q.3 Do I need to have any guarantor for Standard Chartered personal loan?

Personal loan is an unsecured loan. You do not need to provide any security or have a guarantor to get SCB personal loan.

Q.4 How much time will it take to get my Standard Chartered personal loan approved?

The bank will disburse the loan within 4 to 7 days from the date of application receipt, provided that you have submitted all the required documents and match the Standard Chartered personal loan eligibility criteria.

Last Updated on : 06/Apr/2021

Know More About

Standard Chartered Bank Personal Loan

You're eligible for a Standard Chartered Bank Personal Loan 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 Personal Loans 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

Standard Chartered Bank Personal Loan Interest Rates

Updated on 25 Nov 2017

Standard Chartered Bank Personal Loan Details
Interest Rate (Monthly reducing balance) 11% - 19.2%
Processing Fees 1%
Loan Tenure 1 year to 5 years
Pre-closure Charges Varies with bank
Guarantor Requirement Varies with bank

Personal Loans EMI Calculator

Loan Amount

|
1L
|
50L
|
100L
|
150L
|
2Cr

Interest Rate

%
|
5
|
10
|
12.5
|
17.5

Loan Tenure

|
1
|
10
|
20
|
25
|
0
|
120
|
240
|
300


Your Monthly Loan EMI


₹24,959