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.
| 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 |
|
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:
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:
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 |
|
12% to 24% |
|
|
11.30% to 16.40% |
|
|
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% |
|
|
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 |
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:
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
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:
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
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.
You will be charged Rs 495 plus GST on making late payments of your Standard Chartered bank personal loan EMI.
Personal loan is an unsecured loan. You do not need to provide any security or have a guarantor to get SCB personal loan.
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/2021Know 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% |
| Loan Tenure | 1 year to 5 years |
| Pre-closure Charges | Varies with bank |
| Guarantor Requirement | Varies with bank |
Personal Loans EMI Calculator