Get Instant Personal Loan upto In 3Hrs Minimal Documentation- Lower Interest Rate.

👌 Flexible EMI | 😍 100% Online Process | 🚫 No charges.

Apply Online for Standard Chartered Bank Personal Loan

Apply online for an Standard Chartered Bank and experience quick, hassle-free approval with minimal documentation. Standard Chartered Bank is designed to meet your financial needs, whether for home renovation, medical expenses, travel, or debt consolidation.

  • Interest Rate 9.55% onwards
  • Maximum Loan ₹ 1 lacs to 50 lacs
  • Processing Fees 0-1%
  • Maximum Loan Tenure 1 to 5 years
Customers Rating
❤️ Trusted by 12,00,000+ Happy Customers

1+ Million

Happy Customers

Rs. 250+ crore

Monthly Personal Loans Disbursal

Wide Range of 60+

Partner Banks & NBFCs

Support team 500+

Team Size of Experts

What is a Standard Chartered Bank Personal Loan?

A Standard Chartered Bank Personal Loan is an unsecured loan offered by Standard Chartered Bank, one of the leading global banks. The personal loan is designed to cater to various financial needs, such as covering medical expenses, financing home renovations, debt consolidation, wedding costs, travel, or any personal expense. These loans are available with competitive interest rates, flexible repayment terms, and a straightforward application process.

Standard Chartered Bank Personal Loans are easy to apply for, and the funds are typically disbursed quickly once the application is approved. The loan is unsecured, meaning it doesn’t require any collateral or asset to be pledged, making it an attractive option for borrowers who do not have assets to offer.

 

Eligibility Criteria for Standard Chartered Bank Personal Loan

To be eligible for a Standard Chartered Bank Personal Loan, borrowers must meet certain conditions. The basic eligibility criteria are:

  1. Indian Citizen: The applicant must be an Indian citizen.
  2. Age Limit: The applicant should be between 21 and 58 years of age at the time of application.
  3. Income Requirements:
    • For salaried individuals, a minimum monthly income of ₹20,000 is required.
    • For self-employed individuals, the applicant must have a steady income with a minimum annual income of ₹3 lakh.
  4. Employment Status:
    • Salaried individuals: Should have been employed for a minimum of 1 year with the current employer and at least 2 years of overall work experience.
    • Self-employed individuals: Should be in business for at least 3 years and have a steady income source.
  5. Credit Score: A good credit score (typically 700 or above) is essential for approval. Standard Chartered Bank evaluates the applicant's creditworthiness based on their credit history.

Documents Required for Standard Chartered Bank Personal Loan

When applying for a Standard Chartered Bank Personal Loan, the following documents are typically required:

  1. Identity Proof: Aadhaar Card, Passport, PAN Card, Voter ID, or Driving License.
  2. Address Proof: Aadhaar Card, Passport, Utility Bills (electricity, water, gas), Bank Statement, or Rental Agreement.
  3. Income Proof:
    • Salaried Individuals: Latest salary slips (last 3 months), bank statements (last 3-6 months), or Form 16.
    • Self-employed Individuals: Income Tax Returns (ITR) for the last 2 years, Balance Sheet, Profit and Loss Statement, and bank statements.
  4. Date of Birth Proof: PAN Card, Passport, or Birth Certificate.
  5. Photographs: Passport-sized photographs.
  6. Other Documents: Any additional documents may be required depending on the applicant's profile or loan amount.

 

Features of Standard Chartered Bank Personal Loan

A Standard Chartered Bank Personal Loan comes with various features that make it an attractive borrowing option. Some of the key features include:

  1. Loan Amount: You can borrow amounts ranging from ₹1 lakh to ₹30 lakh, depending on your eligibility and loan requirements.
  2. Interest Rates: The interest rates on personal loans from Standard Chartered Bank range from 10.99% to 19.99% annually, depending on the applicant’s credit profile.
  3. Flexible Tenure: The loan tenure ranges from 12 months to 60 months, allowing borrowers to choose the repayment term that fits their financial situation.
  4. Quick Disbursal: Once your loan is approved, the funds are disbursed within 48 hours.
  5. No Collateral: The loan is unsecured, so no collateral is required to apply for the loan.
  6. Online Application Process: You can apply for the loan online with minimal paperwork, making it a quick and easy process.
  7. Flexible Repayment Options: The bank offers a range of repayment options, including EMIs that are suited to your income and budget.
  8. Top-up Loan: Existing customers can apply for a top-up loan on their current personal loan, based on their repayment history.
  9. Special Offers: Standard Chartered offers special discounts and offers for its existing customers, which could include lower interest rates or other benefits.

Fees and Charges of Standard Chartered Bank Personal Loan

Standard Chartered Bank Personal Loan comes with a set of fees and charges. The following are the most common fees associated with this loan:

  1. Processing Fee:
    • The processing fee for the personal loan is typically 1% to 2.5% of the loan amount, plus applicable GST.
  2. Interest Rates:
    • The annual interest rate varies from 10.99% to 19.99% depending on the applicant’s credit score and loan amount.
  3. Prepayment Charges:
    • If you wish to prepay your loan, a prepayment fee of 2% to 4% of the outstanding loan balance will be charged after a specified period (usually after 12 months).
  4. Late Payment Fee:
    • If you miss an EMI payment, a penalty fee of ₹1,000 to ₹3,000 may apply depending on the loan amount.
  5. Bounce Charges:
    • If an EMI bounces due to insufficient funds, a charge of ₹500 to ₹1,000 is applicable.
  6. Foreclosure Charges:
    • If you want to foreclose the loan, a foreclosure fee of 2% of the outstanding loan amount is charged.
  7. Other Charges:
    • The bank may charge other miscellaneous fees for documentation, statement issuance, or loan account closure, typically in the range of ₹200 to ₹500.

 

Types of Standard Chartered Bank Personal Loans

Standard Chartered offers various types of personal loans to suit different financial needs. Some of the loan types include:

  1. Personal Loan for Salaried Individuals: Aimed at individuals employed in reputed organizations, these loans are typically used for personal purposes like medical expenses, home renovations, etc.
  2. Personal Loan for Self-Employed Individuals: These loans cater to self-employed professionals, including business owners, freelancers, and consultants. The loan can be used to fund personal or business expenses.
  3. Wedding Loans: These loans are tailored for funding wedding-related expenses, covering everything from venue booking to catering.
  4. Home Renovation Loans: Loans specifically designed to help borrowers improve or renovate their homes.
  5. Debt Consolidation Loans: These loans help borrowers consolidate multiple debts into a single loan, simplifying repayments and potentially reducing interest costs.
  6. Emergency Loans: Quick loans to deal with urgent financial needs, including medical emergencies and other unforeseen circumstances.

 

EMI Calculation of Standard Chartered Bank Personal Loan

The EMI (Equated Monthly Installment) for a Standard Chartered Bank Personal Loan can be calculated using the following formula:

EMI=P×r×(1+r)n(1+r)n−1EMI = \frac{P \times r \times (1 + r)^n}{(1 + r)^n - 1}EMI=(1+r)n−1P×r×(1+r)n

Where:

  • P is the loan amount,
  • r is the monthly interest rate (annual interest rate divided by 12),
  • n is the loan tenure in months.

For example, for a loan of ₹1 lakh at an interest rate of 15% per annum for 24 months, the EMI can be calculated as follows. You can also use online EMI calculators available on the Standard Chartered Bank website for faster calculations.


Why Choose Standard Chartered Bank Personal Loan?

There are several reasons why borrowers opt for Standard Chartered Bank Personal Loan:

  1. Competitive Interest Rates: Standard Chartered offers competitive interest rates starting from 10.99% per annum.
  2. Fast Loan Disbursal: After approval, the loan is disbursed within 48 hours.
  3. No Collateral: Personal loans are unsecured, so you do not need to pledge any assets as collateral.
  4. Flexible Loan Amount and Tenure: Loan amounts range from ₹1 lakh to ₹30 lakh, and tenure options range from 12 to 60 months.
  5. Easy Application Process: The loan application can be done online, requiring minimal documentation.
  6. Top-Up Loans: Existing customers can apply for a top-up loan on their current loan.
  7. Wide Range of Loan Purposes: The loan can be used for various personal needs, including weddings, education, travel, medical expenses, and more.

 

Frequently Asked Questions (FAQs)

1. How much can I borrow from Standard Chartered Bank?

  • You can borrow between ₹1 lakh to ₹30 lakh depending on your eligibility and requirements.

2. Can I prepay the loan?

  • Yes, you can prepay the loan, but a prepayment fee will apply, typically ranging from 2% to 4% of the outstanding balance.

3. How fast will the loan be disbursed?

  • The loan is usually disbursed within 48 hours after approval.

4. What is the interest rate for Standard Chartered Bank Personal Loan?

  • The interest rate ranges from 10.99% to 19.99% per annum.

5. Is there a processing fee for the loan?

  • Yes, the processing fee ranges from 1% to 2.5% of the loan amount.

1+ Million

Happy Customers

Rs. 250+ crore

Monthly Personal Loans Disbursal

Wide Range of 60+

Partner Banks & NBFCs

Support team 500+

Team Size of Experts

Standard Chartered Bank Personal Loan EMI Calculator

Amount

Tenure

% Interest

Principal

Interest

Total Payable