to apply for Standard Chartered Bank personal Loan
Standard Chartered Bank Personal Loan
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Overview - Standard Chartered Bank Personal Loan
Bank is the largest international bank and has been in operations since 1858. The Bank has its headquarters in London. It has a network of more than 1200 branches and outlets across more than 70 countries and employs more than 87000 employees. The name of the bank comes from the merger of the two international banks in the year 1969 namely the Chartered bank and the Standard Bank. Standard Chartered has a primary listing on the London Stock Exchange. Despite its UK base it does not conduct retail banking in the U.K. and around 90% of its profits come from Asia, Africa and the Middle East where it acts as an intermediary bank in transactional transactions. Bank has over 86000 employees globally and is divided into 2 divisions the consumer bank and the wholesale bank. As a member of the Global Banking Alliance for women Standard Chartered works with a wide range of banks to deliver financial services to women.
About Standard Chartered Bank Personal Loan
Bank has branches across 42 cities in the country. Bank provides a number of services such as personal banking, priority banking, NRI banking, private banking, corporate and SME banking. Under the personal banking Standard Chartered offers home loans, personal loans, loans against security etc. The bank understands the purpose of personal loans in your life to fulfil your dreams. Hence the bank offers personal loans to fulfil requirements like buying the dream car, getting world class education, organising a grand wedding. Bank Personal loan is available at affordable interest rates. One can avail personal loans up to Rs.30, 00,000 to fulfil your aspirations.
Why Choose Standard Chartered Bank Personal Loan ?
There are many reasons why Standard Chartered Personal loans have become the choice of many to fulfil their requirements. Bank Personal loan benefits are as follows:
- Flexible and long repayment tenures
- Competitive Interest Rates
- Smooth application processing
- Security, collateral or guarantor is not required
- Loan top-up facility
- Attractive schemes
Features of Standard Chartered Bank Personal Loan
The features of Bank Personal loan are very attractive which make it the favourite bank among the customers. Some of the attractive features of Bank Personal loan are as follows:
- Standard Chartered Personal loan is available for both salaried as well as non salaried employees
- The bank provides loans with a repayment period ranging from 12 months to 60 months
- You can apply online and get instant approval
- Affordable interest start at 12% onwards
- Standard Chartered offers loans up to Rs.30 lakhs
- Online applicants get a discount of 50%
- Standard Chartered Personal loans offers loans up to Rs 30 lakhs for salaried and up to Rs 10 lakhs for entrepreneurs.
Eligibility Criteria for Bank Personal Loan
Standard Chartered Bank Personal loan eligibility criteria are as follows:
- You are eligible for Standard Chartered Personal loan after you attain the minimum age of 21 years and the maximum age of 58 years
- Both salaried and self employed can avail the Bank Personal loans
- Your minimum income needs to be Rs.22000 a month
- Should have valid ID proof, driving license, voter ID and photo ration card.
- Should have valid address proof, telephone bill, electricity bill, driving license, life or medical insurance policy, ration card etc.
Documentation Required for Standard Chartered Personal Loan
In order to apply for Standard Chartered Personal loan the following documents are required:
- Copy of passport, Voter ID, driving license.
- Processing fee cheque
- Last 3 months bank statement/ 6 months passbook
- Documentation for salaried employees:
- Current dated salary certificate with latest form 16
- Latest salary slip
- Documentation for self employed employees
- Latest bank statement
- Latest ITR or form no 16
- Signed application form with photograph
Interest Rates of Standard Chartered Bank Personal Loan
Bank provides customers with the facility of personal loans which can be used to fulfil a variety of personal needs. It could be for your child’s education, for taking vacations or to help finance a wedding etc. Bank
Personal loan Interest rates include the following:
- Standard Chartered personal loans are made available at an attractive interest rate of 12.5% per annum
- This means that a certain percentage will be added over and above the current MCLR benchmark with the final interest determined after considering several factors such as borrowers relationship with the bank, repayment tenure
- Individuals who availed the loan before the MCLR were introduced can continue with the base rate and the additional interest will be charged over and above the current rate.
Fees and Service Charges
Standard Chartered Bank Personal loan charges are as follows:
- The interest rates of Standard Chartered Personal loan range between 12.5% to 16%
- The processing fees of Standard Chartered Personal loan are NIL
- Pre closure is permitted after 1 year and the charges for the same are 1% of outstanding principal amount
- The loan tenure of the same ranges between 1 year to 5 years
- There is no guarantor required in case of Standard Chartered Personal loan.
EMI Calculator of Standard Chartered Bank Personal Loan
Calculating EMI manually can be a tough task with a complicated formula. From the loan amount to the tenure of the loan, the interest rates each play a very important role in deciding the amount to be paid by each of the loan applicant. Bank Personal loan EMI calculator provides all the assistance to the customers in calculating the EMIs.
Why MyMudra Financial ?
- All the financial requirements and services provided by MyMudra financial are available free of cost for the customers and one can avail them without any hesitation.
- More than 50+ banks and NBFCs are available on the customer screen from which one can choose according to their convenience.
- We provide you with the most dedicated personnel to take care of all your requirements and provide you with appropriate advice.
- There are about 1000 products that we offer along with the right mix of finance.
- We offer the best rate of interest , gift vouchers and all the other benefits and cash backs for their inter interest
- We offer financial services both online and offline and also offer offline counselling
- We provide end to end services i.e. we assist you right from the time you apply to the time the deal is finally done and delivered.
- We offer services all across the country.
FAQ Standard Chartered Bank Personal Loan
- What are the purposes for which Bank offers personal loans?
Standard Chartered Personal loans can be availed for various purposes such as higher education, buying the dream car, celebrating a grand occasion like wedding etc.
- What is the minimum amount of personal loan Standard Chartered offers?
Standard Chartered offers home loans ranging from Rs.100000 to Rs.3000000 based on your income, eligibility and repayment capacity. The minimum amount of loan for the entrepreneurs is Rs.1000000.
- What is the maximum amount of personal loan provided by Standard Chartered Personal loan?
The maximum amount of personal loan provided by Standard Chartered personal loan is Rs.30 lakhs to the salaried individuals.
- What is the interest rate for Standard Chartered Personal loan?
The interest rates for Standard Chartered personal loan start from 12.5% and goes up to 16% on a monthly reducing balance basis.
- Does Standard Chartered Personal loan require any security, collateral or guarantor?
No, to avail Standard Chartered Personal loan you do not require any security, collateral or any guarantor.
- What is the tenure of the Standard Chartered Personal loan?
The tenure of the Standard Chartered Personal loan ranges between 12months to 60 months. However the tenure of the loan differs from customer to customer.
- How much time does the Bank require for the disbursement of the personal loan?
The bank requires 4 to 7 days for the disbursement of the personal loan.
- Can I get my Standard Chartered Statement online?
Yes you can download the personal loan statement online from Standard Chartered.
Personal Loan News & Updates As it Happens
Bajaj Finserv Offers Unique Proposition on Personal Loans
27 November 2017:Pune, Maharashtra, India Bajaj Finserv offers a unique proposition - Personal Line of credit to its customer that allots a specific amount that can be withdrawn and used for any financial requirements for any purpose you can easily withdraw money. Personal Line of Credit is a personal loan that allows the consumer to use any amount within the assigned limit and pay interest on the amount withdrawn. This is a special loan provide by Bajaj Finserv where the user only pays the interest amount as EMI. Consumer opting for Line of credit pay up to 45% lowers EMIs every month. Benefits of Personal Line of Credit by Bajaj Finserv 1. Lower instalments 2. Flexibility 3. No collateral 4. No hidden costs
Haryana fixes rate of interest on various loans & advances to employees for financial year 2017-18
21 November 2017:A spokesman for the Finance Department on Monday said it had been decided to charge interest at the rate of 7.8% for first advance and 8.8% for the second advance for house building, motor car, scooter, motorcycle, moped, cycle, computer and marriage loans for the financial year 2017-18. In this financial year interest rate would be 7.8% for various loans including a personal loan for some sections. He said 9.8 percent rate of interest would be charged for the third advance for marriage loan. He said it has also been decided to fix the interest rate of 7.8% per annum on deposits in the General Provident Fund and other similar funds with effect from October 1 to December 31, 2017. That will be the good news for Haryana employees for this financial year.
Personal loans, credit cards spike among stumbling bank credit growth
14 November 2017:Indians are living off credit more than ever. While industrial segments are showing a meagre or poor growth, the buyers are progressively relying upon credit to address their issues. While net bank credit developed only 4.2% year on year in September, slower than the 6.2% in the previous month, credit cards and personal loans have revealed a twofold digit ascend, as indicated by the sectoral bank credit development figures discharged by Reserve Bank of India (RBI). Soumya Kanti Ghosh, chief economist with State Bank India (SBI), said, "The industrial segments are stagnating for a considerable period of time. It is bound to hit the consumer finance segments. The growth in credit cards and personal loan segments shows that consumer indebtedness in India is growing."
Indiabulls' NBFC unit to tap bank customers for personal loans
14 November 2017:Indiabulls Ventures is getting into buyer back with a major push on individual personal loan by tapping the current clients of banks. It would subsidize the individuals who are not on the rundown for pre-endorsed credits at moneylenders like HDFC BankBSE - 0.62 % and State Bank of IndiaBSE - 0.86 %, and go out on a limb on its books. Gagan Banga, vice chairman, Indiabulls Housing Finance, told ET, "If banks partner with someone like us, they will get two things -their savings account base will go up and tomorrow they can even potentially buy these loans off us," "Most banks give pre-approved personal loans to over 15 percent of their total customers and the balance go through a typical paper process to avail of any loan. That is a very long process to follow. Considering that they already have a very large (portfolio of) personal loan and credit card outstanding, no risk management principle will allow (them) to grow this loan book at a pace which is faster than their overall balance sheet," he said. With the app, the personal loan can be disbursed in just three minutes.
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