Standard Chartered Bank Home Loan
Standard Chartered Bank provides four types of home loans including Home Pack that combines a loan, credit card and account, Loan Against Property, Home Saver that helps in faster repayment, and a regular Home Loan. Customers can borrow up to Rs.35 crore with flexible tenure of up to 25 years. Interest rates begin at 8.95% per annum and the processing fee is up to 1% of the loan amount.
Standard Chartered Bank Home Loan Schemes
1. Standard Chartered Bank Home Loans
Standard Chartered Bank offers a wide range of home loan solutions tailored to meet diverse customer needs. With loan amounts up to ₹35 crore and flexible repayment tenure of up to 25 years, borrowers can choose plans that suit their financial goals. The bank also rewards responsible repayment behavior with up to 2% cashback.
- Interest Rate: Starting from 8.95% p.a.
- Processing Fee: Charges can go up to 1% of the total loan amount.
2. Standard Chartered Home Pack Loan
This unique package combines a home loan, credit card, and savings/current account into one comprehensive solution. The included credit card comes with a lifetime annual fee waiver, and the pack also offers mortgage-reduced term assurance to cover your insurance needs.
- Interest Rate: Available on request
- Processing Fee: Nil
3. Standard Chartered Mortgage Loan Against Property
Borrowers can avail up to 70% of their property’s market value with this loan, applicable to both residential and commercial properties. The plan comes with the Home Saver option to accelerate loan repayment and offers convenient doorstep service for application.
- Interest Rate: Available on request
- Processing Fee: Charges can go up to 1% of the total loan amount.
4. Standard Chartered Home Saver Loan
The Home Saver loan is designed for faster repayment with daily interest offset calculation. It includes balance transfer and top-up loan facilities, along with a complimentary international debit card. Customers can also benefit from doorstep service.
- Interest Rate: Starting from 8.60% p.a. to 10.10% p.a.
- Processing Fee: Charges can go up to 1% of the total loan amount.
Compare Home Loan Interest Rates Across Different Banks
| SBI Home Loan | 7.25% p.a. to 10.50% p.a. |
| HDFC Home Loan | 7.75% p.a. onwards |
| PNB Housing Finance | 7.70% p.a. to 11.45% p.a. |
| Axis Home Loan | 8.35% p.a. to 9.35% p.a. |
| Union Bank of India Home Loan | 8.60% p.a. onwards |
| Bank of Baroda Home Loan | Floating rate: 7.45% to 9.20% per year, Fixed rate: 9.15% to 10.20% per year. |
| LIC Home Loan | 7.50% p.a. onwards |
| Kotak Mahindra Bank Home Loan | 7.99% p.a. onwards |
| Central Bank of India Home Loan | 7.35% p.a. onwards |
| Aditya Birla Housing Finance | Salaried: 8.80%–14.00% p.a. & Self-employed: 9.10%–14.75% p.a. |
| HSBC Home Loan | 7.70% p.a. onwards |
| Standard Chartered Bank Home Loan | Starting from 8.95% p.a. |
| TATA Capital Home Loan | 7.75% p.a. onwards |
| YES Bank Home Loan | 9.00% - 11.50% p.a. |
| IDBI Home Loan | 7.65% p.a. onwards |
| Bandhan Bank Home Loan | 8.14% p.a. onwards |
| Federal Bank Home Loan | 8.75% p.a. onwards |
| South Indian Bank Home Loan | 8.30% p.a. onwards |
Standard Chartered Bank Home Loan Eligibility Criteria
To apply for a Standard Chartered Bank Home Loan, applicants must fulfill the following eligibility conditions:
- Minimum Age – The applicant should be at least 21 years old at the time of application.
- Stable Income – A regular income source is required, whether salaried or self-employed.
- Employment Type – Salaried professionals, self-employed individuals, and business owners are eligible to apply.
- Credit History – A strong CIBIL score and good repayment record increase the chances of loan approval.
- Applicant Category – Both Indian residents and eligible Non-Resident Indians (NRIs) can apply.
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Standard Chartered Bank Home Loan Documents Required
To complete your Standard Chartered Bank Home Loan application, you will need the following documents:
- Photo Identity Proof – Passport, Aadhaar Card, Voter ID, PAN Card, or Driving License.
- Address Proof – Utility bills, Aadhaar Card, Passport, or any government-approved proof of residence.
- Financial Documents – Latest salary slips, bank account statements, Form 16, and income tax returns, depending on employment type (salaried or self-employed).
- Property Documents – Registered sale agreement, allotment letter, property title deed, and other related papers as required.
What is the minimum loan amount for a Standard Chartered home loan?
The minimum loan amount you can apply for with Standard Chartered Bank is Rs. 10 lakh. This ensures that even first-time homebuyers or those looking for moderately priced properties can access home financing with ease.
Can I apply for a home loan with a co-applicant?
Yes, you have the option to apply either as a sole applicant or along with a co-applicant. Having a co-applicant can sometimes increase your eligibility for a higher loan amount, as it combines the incomes of both applicants.
Who can be a co-applicant on my home loan?
Co-applicants must be immediate family members. This includes your spouse, parents, or children. Including a co-applicant can improve your loan eligibility and sometimes help in getting better interest rates.
What are the processing fees for a home loan?
The processing fees for a Standard Chartered home loan generally start at 0.5% of the loan amount and can go up to 1%, depending on the type of home loan scheme you select. These fees cover administrative costs involved in processing your loan application.
Are processing fees refundable if the loan is rejected?
No, the processing fees paid at the time of application are non-refundable. This applies regardless of whether your loan is approved or rejected. It’s important to consider this cost when submitting your application.
How long does it take to approve a home loan?
Home loan approval typically takes a few days once all required documents are submitted. However, the exact timeline may vary depending on the complexity of the case, verification process, and internal processing times of the bank.
Can I prepay my home loan?
Yes, Standard Chartered Bank allows both partial and full prepayment of your home loan. While this can help reduce interest costs, certain charges may apply depending on the terms of your loan agreement. Prepayment can be a good option if you receive a bonus or have extra savings.
What types of home loans does Standard Chartered Bank offer?
Standard Chartered Bank offers a variety of home loan options to meet different needs, including standard loans for buying new or resale properties, loans bundled with savings or current accounts, mortgage loans against property, and special loans that allow faster repayment with flexible EMIs.