Standard Chartered Bank is a British multinational banking and financial services. It was established in 1969 and headquarters in London, England. This bank is also available for both salaried and non salaried individuals. Standard Chartered Bank Personal Loan is among the most convenient ways to avail cash.
1. Less and simple documentation :
Standard Chartered Bank required less documentation for the processing of personal loans.The documents submitted by the customers are KYC, address proof and income proof with the loan application form. It is not required to submit so many documents for a personal loan. The process of documentation is very simple and fast
2. Fast and smooth processing :
The processing fees of Standard Chartered Bank personal loan is 1% of the loan amount borrowed. Standard Chartered Bank processes the loan approval in a very quick and easy way. It should also be a very smooth process for the customer.
3. Instant approval when you apply online
Standard Chartered Bank provides personal loan approval in a very speedy way for the customers so they don't have to waste their precious time for loan approval. They can easily get approval for the personal loan either online or offline.
4. No requirement of guarantor :
Standard Chartered Bank is an unsecured loan so you does not need to submit any collateral and guarantor for personal loan
5. Flexible tenure :
Standard Chartered Bank personal loan offers the best and flexible loan tenure of 1 years to 5 years. The Standard Chartered Bank personal loans are taken to meet their sudden needs of the customers.
|
TYPE |
CHARGES |
|
Processing fee |
1% of amount borrowed |
|
Pre-Payments fee |
Pre-closure permitted after 1 year, 2% of principal outstanding plus ST. |
|
Late payments charges |
Rs. 496 + GST |
|
Swap Charge |
Rs. 500 +GST |
|
CRITERIA |
FOR SALARIED |
FOR SELF EMPLOYED |
|
Id Proof |
Photographs Passport Driving license Voter id Aadhar card National Population Register (containing details of name and address) |
Photographs Passport Driving license Voter id Aadhar card National Population Register (containing details of name and address) |
|
Address proof |
Passport Driving license Voter id card Ration card Utility bills Property registration documents/rental agreement |
Passport Driving license Voter id card Ration card Utility bills Property registration documents/rental agreement |
|
Age proof |
Aadhar card Birth certificate Passport Voter id |
Aadhar card Birth certificate Passport Voter id |
|
Income proof |
Latest 3 month salary slips Latest 3 months bank statement Form 16 |
1 year Individual IT Return Computation of Income Schedule 1 year audited P&L Lastest 3 months bank statement Form 16 |
|
ELIGIBLE |
Salaried, self-employed, private sector employees, government employees, doctors, teachers, Employees of various public and private companies, local bodies. |
|
AGE |
21 years to 60 years at the time of loan maturity |
|
INCOME |
Monthly income should be Rs. 22000 |
|
BANKS |
INTEREST RATES |
|
12% to 24% |
|
|
11.30% to 16.40% |
|
|
12.15% to 15.15% |
|
|
11.50% to 12% |
|
|
10.75% to 21.50% |
|
|
10.50% to 16.99% |
|
|
20.00% to 22.00% |
|
|
10.50% to 17.99% |
|
|
10.99% to 16.25% |
|
|
11.00% to 19.20% |
|
|
12.00% to 14.00% |
|
|
14.00% to 23.00% |
|
|
10.75% to 17.84% |
|
|
11.00% to 16.75% |
|
|
7.65% to 12.65% |
|
|
12.15% to 14.15% |
|
|
12.05% onwards |
Now go to “Our Products” section
select “Loan & Mortgages “ menu
Now click on ”Personal loan”
Carefully fill the application form
Read all loan related documents carefully
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
Interest rates for Standard Chartered Bank personal loan is 11% to 19.20%
Standard Chartered Bank personal loans ranging from Rs.1 lakh to Rs.30 lakh
Bank takes nearly 4 to 5 days after loan confirmation.for Standard Chartered Bank personal loan.
For Standard Chartered bank personal loans no security or collateral is required.
Applicants must be at least 21 years to 60 years to take a Standard Chartered Bank Personal Loan
The tenure period of Standard Chartered Bank Personal loan is 1 to 5 years
Last Updated on : 07/Sep/2020Know More About
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
Updated on 25 Nov 2017
| Standard Chartered Bank Personal Loan Details | |
|---|---|
| Interest Rate (Monthly reducing balance) | 11% - 19.2% |
| Processing Fees | 1% of amount borrowed |
| Loan Tenure | 1 year to 5 years |
| Pre-closure Charges | Varies with bank |
| Guarantor Requirement | Varies with bank |
Personal Loans EMI Calculator