Standard Chartered Loan Against Property Interest Rates 2016

Loan Against Property

Standard Chartered bank provides loan against property starting from 10.75% annual rate of interest. The maximum loan amount you can get for a loan against property at Standard Chartered bank is Rs. 10 Crores or up to 70% of the market value of your property. Here you will know more about the loan against property in detail.

Standard Chartered Loan Against Property Details  

ParticularsDetails
Interest Rate10.75% - 11.00% p.a
Loan AmountUp to Rs. 10 Crores

Tenure15 years

Processing Fees1% of the loan amount
Repayment Mode

EMI
Prepayment Charges


2%
MarginUp to 70% of the market value of the property

EMI Per LacRs. 1,121 to Rs. 1,137

Features & Benefits:

  • Low processing fees of 1%
  • Longer tenure period of 15 years
  • Low-interest rates starting from 10.75% p.a
  • Multi-purpose loan
  • Multiple property loan against residential property, commercial property
  • Opportunity to avail Business banking products, Trade & Working capital solutions, Forex and Cash management offerings
  • Take loan up to 70% of the market value of the property
  • Minimal documentation
  • Quick approval

Eligibility Criteria

Here is the list of the eligible individual/s who can apply for loan against property at Standard Chartered bank:

  • Sole proprietors/proprietorship firms
  • Private limited companies
  • Closely-held and public limited companies
  • Partnership firms
  • For salaried individuals – Minimum age of 21 years and maximum of 60 years
  • For self-employed individuals – Minimum age of 21 years and maximum of 65 years
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Standard Chartered Loan Against Property documents required

The list of documents that you need to submit while applying for loan against property are as follows:

  • Last 6-month bank statements
  • Last 2 years financials including Profit & Loss (P&L) statement
  • Last 2 years balance sheet and ITR
  • Identity proof
  • Address proof

How to Apply

Submit the filled up application form along with the self-attested copies of all the KYCs and the property documents at your nearest bank branch.

Standard Chartered Loan Against Property EMI Calculator

With EMI calculator, you get to know the equated monthly instalments you will have to pay every month for your selected tenure period at the rate of interest of your choice and selected loan amount. For eg. If you have taken a loan of Rs. 20,00,000 at the interest rate of 10.75% for a tenure period of 15 years, the monthly EMI you will have to pay is Rs. 22,419/-.

To know each EMI, total interest outgo and the total amount with variable rate of interest, refer to the table given below:

Table for EMI per month, Total Interest Outgo and Total Amount

Amount
(in Rs.)
Interest Rate
(p.a)
Loan Tenure
(in years)
EMI
(in Rs.)
Total Interest Outgo
(in Rs.)
Total Amount (Principal + Interest)
(in Rs.)
20,00,00010.75% - 11.00%11,76,530 - 1,76,763
1,18,362 - 1,21,160 21,18,362 - 21,21,160
20,00,00010.75% - 11.00%292,984 - 93,216
2,31,609 - 2,37,176
22,31,609 - 22,37,176
20,00,00010.75% - 11.00%365,241 - 65,477
3,48,673 - 3,57,188
23,48,673 - 23,57,188
20,00,00010.75% - 11.00%451,449 - 51,691
4,69,531 - 4,81,170
24,69,531 - 24,81,170
20,00,00010.75% - 11.00%543,236 - 43,485
5,94,154 - 6,09,091
25,94,154 - 26,09,091
20,00,00010.75% - 11.00%637,813 - 38,068
7,22,504 - 7,40,907
27,22,504 - 27,40,907
20,00,00010.75% - 11.00%733,983 - 34,245
8,54,534 - 8,76,569
28,54,534 - 28,76,569
20,00,00010.75% - 11.00%831,148 - 31,417
9,90,189 - 10,16,018
29,90,189 - 30,16,018
20,00,00010.75% - 11.00%928,976 - 29,252
11,29,410 - 11,59,186
31,29,410 - 31,59,186
20,00,00010.75% - 11.00%1027,268 - 27,550
12,72,128 - 13,06,000
32,72,128 - 33,06,000
20,00,00010.75% - 11.00%1125,896 - 26,185
14,18,270 - 14,56,380
34,18,270 - 34,56,380
20,00,00010.75% - 11.00%1224,776 - 25,071
15,67,756 - 16,10,239
35,67,756 - 36,10,239
20,00,00010.75% - 11.00%1323,849 - 24,151
17,20,502 - 17,67,485
37,20,502 - 37,67,485
20,00,00010.75% - 11.00%1423,074 - 23,381
18,76,419 - 19,28,022
38,76,419 - 39,28,022
20,00,00010.75% - 11.00%1522,419 - 22,732
20,35,413 - 20,91,749
40,35,413 - 40,91,749"
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Amortization Table

YearPrincipal
(in Rs.)
Interest
(in Rs.)
Balance Amount
(in Rs.)
1 56,770 - 55,529
2,12,258 - 2,17,255
19,43,230 - 19,44,471
2 63,183 - 61,955
2,05,845 - 2,10,829
18,80,047 - 18,82,516
3 70,319 - 69,124
1,98,709 - 2,03,660
18,09,728 - 18,13,392
4 78,265 - 77,121
1,90,763 - 1,95,663
17,31,463 - 17,36,271
5 87,104 - 86,047
1,81,924 - 1,86,737
16,44,359 - 16,50,224
6 96,945 - 96,006
1,72,083 - 1,76,778
15,47,414 - 15,54,218
7 1,07,896 - 1,07,113
1,61,132 - 1,65,671
14,39,518 - 14,47,105
8 1,20,084 - 1,19,509
1,48,944 - 1,53,275
13,19,434 - 13,27,596
9 1,33,647 - 1,33,338
1,35,381 - 1,39,446
11,85,787 - 11,94,258
10 1,48,743 - 1,48,770
1,20,285 - 1,24,014
10,37,044 - 10,45,488
11 1,65,546 - 1,65,984
1,03,482 - 1,06,800
8,71,498 - 8,79,504
12 1,84,245 - 1,85,189
84,783 - 87,595
6,87,253 - 6,94,315
13 2,05,055 - 2,06,620
63,973 - 66,164
4,82,198 - 4,87,695
14 2,28,219 - 2,30,529
40,809 - 42,255
2,53,979 - 2,57,166
15 2,54,178 - 2,57,372
15,032 - 15,576

Loan Against Property Interest Rates

Standard Chartered bank offers loan against property at variable interest rates starting from 10.75% to 11.00% p.a.

Standard Chartered Customer Care

For any further details on loan against property, you can contact your nearest bank branch or call on customer care number at –  39401616 / 66011616.