# Standard Chartered Bank Home Loan EMI Calculator

₹ 50k ₹ 5Cr
6.0% 30.0%
1 years 30 years
Principal Amount
Interest Amount

Monthly EMI

Principal Amount

Interest Amount

Tenure (Years)

Total Amount

## 2044

Want to know the exact calculations of your monthly installments? Don’t worry a home loan EMI calculator is here to help. This smart, time-saving, and effective online tool works on simple phenomena, wherein it takes into account loan amount, tenure, and interest rate.

These are the variables you need to feed into the device and soon after entering the same, this tool fetches the results for you in just a few seconds. This is the reason that this device has been widely used by many loan seekers as it gives a hassle-free experience.

## How to Use Wishfin Standard Chartered Bank Home Loan EMI Calculator?

The Standard Chartered Bank home loan EMI calculator provided by Wishfin can help you calculate your EMIs in seconds. All you need to do is enter the following details:

• Loan Amount
• Tenure
• Interest Rate

Once you input your details, the calculator will show your monthly installments, the total interest payable over the loan period, and a year-by-year schedule of interest and principal repayments. Additionally, you can view the remaining balance of your home loan at the end of each year.

### Standard Chartered Bank Home Loan EMI Calculation Formula

The calculator uses the below formula to calculate an EMI.
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]where,
EMI = Equated Monthly Installment
P = Principal Loan Amount
R = Monthly Interest Rate
N = Number of Monthly Installments

For example, you apply for a home loan amount of ₹55,00,000 from Standard Chartered Bank, which approves it at an annual interest rate of 8.95% for a term of 30 years.

Here is how the calculation breaks down:

• Principal Amount (P): ₹55,00,000
• Annual Interest Rate (R): 8.95%, or 0.00745 monthly (calculated as 8.95/12/100)
• Loan Tenure (n): 30 years, equivalent to 360 months

To calculate the EMI, use the formula:

[55,00,000 x 0.00745 x (1 + 0.00745) ^ 360]/[(1+0.00745 ^360 -1] = 44,057

This formula determines that the monthly EMI would be ₹44,057

## Standard Chartered Bank Home Loan Amortisation Schedule

To have a better understanding of a home loan EMI Calculator, let’s just take the help of an example below.

Suppose Akash Verma, a 32-year-old SEO Manager by profession, is looking for a home loan of ₹50 Lakh to buy a beautiful home in Mumbai. He has applied for the same loan amount, and after evaluating his profile, Standard Chartered Bank has agreed to offer him the loan at an interest rate of 8.51% per annum for a tenure of 25 years.

But saying yes to the lender, he wants to be fully sure about his Standard Chartered Bank Home Loan EMIs,i.e. whether they are going to be pocket-friendly or not. Thus, to know the same, he used a home loan EMI Calculator. So, let’s just take a look at the table below to know the EMI and Interest Outgo.

Table Showing EMI, Interest Outgo, and Total Repayment Amount

Loan Amount Interest Rate Tenure Monthly Instalment Total Interest Amount Total Amount
₹ 50,00,000 8.51% 1 ₹ 4,36,122 ₹ 2,33,465 ₹ 52,33,465
₹ 50,00,000 8.51% 2 ₹ 2,27,301 ₹ 4,55,230 ₹ 54,55,230
₹ 50,00,000 8.51% 3 ₹ 1,57,861 ₹ 6,82,991 ₹ 56,82,991
₹ 50,00,000 8.51% 4 ₹ 1,23,265 ₹ 9,16,726 ₹ 59,16,726
₹ 50,00,000 8.51% 5 ₹ 1,02,607 ₹ 11,56,405 ₹ 61,56,405
₹ 50,00,000 8.51% 6 ₹ 88,917 ₹ 14,01,991 ₹ 64,01,991
₹ 50,00,000 8.51% 7 ₹ 79,208 ₹ 16,53,436 ₹ 66,53,436
₹ 50,00,000 8.51% 8 ₹ 71,986 ₹ 19,10,687 ₹ 69,10,687
₹ 50,00,000 8.51% 9 ₹ 66,423 ₹ 21,73,681 ₹ 71,73,681
₹ 50,00,000 8.51% 10 ₹ 62,020 ₹ 24,42,351 ₹ 74,42,351
₹ 50,00,000 8.51% 11 ₹ 58,459 ₹ 27,16,619 ₹ 77,16,619
₹ 50,00,000 8.51% 12 ₹ 55,531 ₹ 29,96,402 ₹ 79,96,402
₹ 50,00,000 8.51% 13 ₹ 53,087 ₹ 32,81,613 ₹ 82,81,613
₹ 50,00,000 8.51% 14 ₹ 51,025 ₹ 35,72,157 ₹ 85,72,157
₹ 50,00,000 8.51% 15 ₹ 49,266 ₹ 38,67,932 ₹ 88,67,932
₹ 50,00,000 8.51% 16 ₹ 47,754 ₹ 41,68,836 ₹ 91,68,836
₹ 50,00,000 8.51% 17 ₹ 46,445 ₹ 44,74,757 ₹ 94,74,757
₹ 50,00,000 8.51% 18 ₹ 45,304 ₹ 47,85,582 ₹ 97,85,582
₹ 50,00,000 8.51% 19 ₹ 44,303 ₹ 51,01,195 ₹ 1,01,01,195
₹ 50,00,000 8.51% 20 ₹ 43,423 ₹ 54,21,475 ₹ 1,04,21,475
₹ 50,00,000 8.51% 21 ₹ 42,644 ₹ 57,46,299 ₹ 1,07,46,299
₹ 50,00,000 8.51% 22 ₹ 41,953 ₹ 60,75,543 ₹ 1,10,75,543
₹ 50,00,000 8.51% 23 ₹ 41,337 ₹ 64,09,079 ₹ 1,14,09,079
₹ 50,00,000 8.51% 24 ₹ 40,787 ₹ 67,46,780 ₹ 1,17,46,780
₹ 50,00,000 8.51% 25 ₹ 40,295 ₹ 70,88,516 ₹ 1,20,88,516

EMI, Total Interest Outgo, Total Repayment (Interest + Principal)

Year Principal Interest Balance Amount
1 ₹ 60,358 ₹ 4,23,182 ₹ 49,39,641
2 ₹ 65,700 ₹ 4,17,840 ₹ 48,73,940
3 ₹ 71,514 ₹ 4,12,026 ₹ 48,02,425
4 ₹ 77,844 ₹ 4,05,697 ₹ 47,24,581
5 ₹ 84,733 ₹ 3,98,808 ₹ 46,39,848
6 ₹ 92,231 ₹ 3,91,309 ₹ 45,47,616
7 ₹ 1,00,394 ₹ 3,83,146 ₹ 44,47,222
8 ₹ 1,09,279 ₹ 3,74,262 ₹ 43,37,943
9 ₹ 1,18,950 ₹ 3,64,590 ₹ 42,18,992
10 ₹ 1,29,477 ₹ 3,54,063 ₹ 40,89,515
11 ₹ 1,40,935 ₹ 3,42,605 ₹ 39,48,579
12 ₹ 1,53,408 ₹ 3,30,132 ₹ 37,95,171
13 ₹ 1,66,984 ₹ 3,16,556 ₹ 36,28,186
14 ₹ 1,81,762 ₹ 3,01,778 ₹ 34,46,423
15 ₹ 1,97,848 ₹ 2,85,692 ₹ 32,48,574
16 ₹ 2,15,358 ₹ 2,68,182 ₹ 30,33,216
17 ₹ 2,34,417 ₹ 2,49,123 ₹ 27,98,799
18 ₹ 2,55,162 ₹ 2,28,378 ₹ 25,43,636
19 ₹ 2,77,744 ₹ 2,05,796 ₹ 22,65,892
20 ₹ 3,02,324 ₹ 1,81,216 ₹ 19,63,567
21 ₹ 3,29,080 ₹ 1,54,461 ₹ 16,34,487
22 ₹ 3,58,203 ₹ 1,25,337 ₹ 12,76,284
23 ₹ 3,89,903 ₹ 93,637 ₹ 8,86,380
24 ₹ 4,24,410 ₹ 59,131 ₹ 4,61,970
25 ₹ 4,62,253 ₹ 21,571 ₹ 0

## The Minimum EMI Offered by Standard Chartered on Home Loans

Here are the monthly EMI payments for various home loan amounts from Standard Chartered Bank. These calculations are based on interest rates of 8.95% and 11.50% over a period of 20 years:

Interest Rate of 8.95%

Interest Rate of 11.50%

10 lakh loan amount - ₹8,965 p.m.

10 lakh loan amount -  ₹10,644 p.m.

12 lakh loan amount - ₹10,758 p.m.

12 lakh loan amount -  ₹12,797 p.m.

15 lakh loan amount - ₹13,448 p.m.

15 lakh loan amount -  ₹15,996 p.m.

17 lakh loan amount - ₹15,241 p.m.

17 lakh loan amount - ₹18,129 p.m.

20 lakh loan amount - ₹17,930 p.m.

20 lakh loan amount -  ₹21,329 p.m.

## Why Using a SCB Home Loan EMI Calculator Can Be Helpful?

There are several advantages to using the Standard Chartered Bank (SCB) home loan EMI calculator:

• Precision in Planning: It provides precise estimates of your monthly loan repayments, enabling better financial planning.
• Ease of Use: The tool is user-friendly and accessible online, which allows quick calculations without manual effort.
• Informed Decisions: By adjusting different variables (loan amount, interest rate, tenure), you can explore various financing scenarios and make informed decisions.
• Budget Management: It helps you understand how much you can afford to borrow without straining your finances.
• Time-Saving: Saves time by providing quick calculations that would otherwise require complex mathematical computation.

## Standard Chartered Bank Home Loan Eligibility

The eligibility requirements for obtaining home loans from Standard Chartered Bank include:

• Indian residents, whether salaried or self-employed, can apply for this home loan.
• Partnership firms and private limited companies are also eligible to take advantage of the home loan schemes provided by Standard Chartered Bank.
• The Interest Only Home Loan is specifically available to salaried clients of Standard Chartered Bank located in Bengaluru.

## Factors Impacting Standard Chartered Bank Home Loan EMI

Here are the factors that play a pivotal role in determining the monthly installments you will pay for your Standard Chartered Bank home loans:

• Loan Amount : The total amount borrowed has a direct impact on the EMI; larger loans result in higher EMIs.
• Interest Rate : The rate at which interest is calculated on the loan significantly affects the EMI. Lower interest rates lead to lower EMIs.
• Loan Tenure : The duration over which the loan is repaid also affects the EMI. Longer repayment periods typically result in lower EMIs but increase the total interest paid over the loan’s lifespan.
• Credit Score : A higher credit score may secure a lower interest rate, reducing the EMI. Conversely, a lower credit score can lead to higher rates and thus, higher EMIs.
• Income Level : Higher income can increase eligibility for larger loan amounts, potentially affecting the EMI.

## Fees and Charges Related to Standard Chartered Bank Home Loans

Here are the fees and charges that you need to pay when applying for SCB Home Loan:

Particulars

Rates

Foreclosure Charges

• For floating interest rate home loans: Nil
• For fixed interest rate home loans: 2.5% of outstanding principal

Part-prepayment Charges

For home loans with floating interest rates: Nil

For home loans with fixed interest rates:

• For part prepayments less than 25% of the principal outstanding amount: Nil
• For part prepayments more than 25% of the principal outstanding amount: 2.5% of the total amount being paid

EMI Cheque Bounce Charges

₹495 per instance

Penal Interest

24% p.a.

Document retrieval charges

₹300 per instance

Conversion/Switch fee

Up to 1% of the principal outstanding

## Limitations of Utilizing Standard Chartered Home Loan EMI Calculator

Here are the main disadvantages of using the SCB home loan calculator:

• The calculator offers estimated EMIs, but it doesn't cover all potential fees or changes in interest rates.
• It misses additional costs such as processing and documentation fees, which can impact the overall loan expense.
• The calculator uses static inputs and doesn't adjust for interest rate fluctuations or financial shifts in floating-rate loans.
• It also doesn't consider how your credit score might affect the interest rates for which you qualify, potentially altering loan terms significantly.
• While it is helpful for basic EMI calculations, the calculator falls short in supporting comprehensive loan aspects like eligibility assessments or detailed financial planning.
• Additionally, it does not provide insights into tax benefits or insurance options that could be associated with the loan, leaving some financial benefits unexplored.