Standard Chartered Personal Loan

Highlights

  • Standard Chartered Personal Loan comes with an attractive interest rate of 10.99%

  • The lower the rates, the easier it is for you to repay the loan

In the latest monetary policy meet held on March 24-27 2020, the RBI has decided to give a 3-month moratorium period for all outstanding loans as on March 1, 2020. Remember, this is not an EMI WAIVER. The move is in line with the economic pressures induced by the Coronavirus outbreak. So, this could mean some savings for you on your loan and help you deal with the likely situation of less or no income. Your credit score will not reduce if you don't pay the EMI. But doing so can raise your interest liability as banks would like to cover their losses, which is likely to be the case on deferred EMI payments, by increasing the interest component of the EMI after the moratorium period gets over. So, if you have the money, keep paying to reduce your interest liability. The moratorium, which was ending on May 31, 2020, has been extended till August 31, 2020.

Want to apply for a personal loan that comes with a pocket-friendly EMI of ₹2,224? Well, with an attractive interest rate of 12% per annum you can enjoy all this and much more. Yes, Standard Chartered Personal Loan is here to meet your personal needs in the best way. Grab more info about this product, on the page below.

Personal Loan

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    Standard Chartered Personal Loan Interest Rate July 2020

    ParticularsDetails
    Interest Rates10.99% - 18.00%
    Loan AmountINR 1Lakh - INR 50 Lakh
    Repayment12 months-60 months
    Processing FeesZero
    Pre-Closure Fee1%-5% of the principal outstanding+GST

    SCB Personal Loan Rates in Detail:

    CategoryTicket SizeInterest Rate (in p.a.)Processing Fee (of the loan amount)
    Listed A – D<2 Lac18%0%
    2,00,000 to 2,99,99915%
    0%
    3,00,000 to 4,99,99912.50%0%
    5,00,000 to 9,99,99912.00%0%
    1,000,000 - 1,499,99911.50%0%
    1,500,000 - 1,999,99911.25%0%
    2,000,000 or Greater10.99%0%
    Unlisted<2 Lac18%0%
    2,00,000 to 2,99,99916%0%
    3,00,000 to 4,99,99913.50%0%
    5,00,000 to 9,99,99912.50%0%
    1,000,000 - 1,499,99912%0%
    1,500,000 - 1,999,99911.50%0%
    2,000,000 or Greater11.25%0%

    Preclosure Grid:

    Pre closure GridCharges
    Upto 12 Months5%
    13 to 24 Months4%
    25 to 36 Months2%
    > 36 Months1%

    Standard Chartered Personal Loan EMI Calculator

    When a person is looking for a personal loan, he/she will be concerned about the interest rates and the EMI that he/she will have to pay to the bank. Here at Standard Chartered Bank, personal loans are offered at attractive interest rates with flexible tenure that makes the payment convenient for the customers.

    A loan EMI calculator is the tool that tells you the monthly installments that you have to pay to the corresponding lender against the loan. For Personal Loans, the EMI calculator takes into account the loan amount, tenure, and interest rates to figure out the installments that you’ve to pay.

    An example below will help you understand it better

    • Loan Amount- ₹2,00,000
    • Tenure- 5 Years
    • Rate of interest- 12% p.a.

    Table Showing EMI, Interest Outgo, and Total Repayment Amount

    Loan AmountInterest RateTenureMonthly InstalmentTotal Interest AmountTotal Amount
    ₹ 2,00,00012%1₹ 17,770₹ 13,237₹ 2,13,237
    ₹ 2,00,00012%2₹ 9415₹ 25,953₹ 2,25,953
    ₹ 2,00,00012%3₹ 6643₹ 39,143₹ 2,39,143
    ₹ 2,00,00012%4₹ 5267₹ 52,805₹ 2,52,805
    ₹ 2,00,00012%5₹ 4449₹ 66,933₹ 2,66,933

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

    YearPrincipalInterestBalance Amount
    1₹ 31,058₹ 22,329₹ 1,68,941
    2₹ 34,996₹ 18,390₹ 1,33,944
    3₹ 39,435₹ 13,951₹ 94,509
    4₹ 44,436₹ 8950₹ 50,072
    5₹ 50,116₹ 3314₹ 0

    Eligibility Criteria for Standard Chartered Personal Loan

    To avail the personal loan in Standard Chartered Bank, you must meet the below eligibility criteria.

    • The minimum age of the applicant should be 25 years
    • The maximum age of salaried and self-employed applicants should be 60 and 65 years respectively.
    • The minimum monthly income of the applicant should be ₹25,000 (in case of existing customers) OR ₹50,000 (in case of new customers)

    Documents Required

    Want to know what all documents you need in order to avail this unsecured loan? If yes, just go through the table below.

    SalariedSelf-Employed
    Identity ProofPassport, photo pan card, driving license, votes id card, photo ration card
    Address ProofPassport, telephone bill, ration card, electricity bill, driving license, life/medical insurance policy, rental agreement, apartment allotment letter

    Standard Chartered Personal Loan Customer Care

    If you have any concern, query, complaint or feedback, all you need to do is simply get in touch with the customer care executives at 9873678914. These experts use their expertise to solve all your issues. You can anytime get in touch with them and resolve all your matters. They are always there to listen to all your problems and are here to give you the best solutions. With their friendly nature, these customer care executives are always there to support and guide you so that you can enjoy the best loan journey without any hassle.

    Standard Chartered Personal Loan Preclosure Charges

    If an applicant wants to pre-close the loan before the set period, he/she can do so at Standard Chartered Bank  Yes, the moment you have enough surplus in hand, you can pre-close your loan before the set tenure and save a lot of money. After paying the 6 or 9 EMIs, you can ask a bank to pre-close your loan. However, banks usually charge a preclosure fee for the same and if you want to pre-close your personal loan in Standard Chartered, you need to pay a fee of 5% of the principal outstanding+GST. The same fee has been charged on the outstanding loan amount along with the applicable taxes.

    Standard Chartered Personal Loan Status

    Knowing the real-time status of your personal loan is easy and quick as all you need to do is just log in to your account. With your credentials such as login ID and password, you can anytime login to your account and know the actual status of your personal loan without any hassle. This online facility is available for one and all and allows you to know your personal loan status anytime, anywhere.

    Standard Chartered Personal Loan Login

    You can easily login to your account and know all the details in just a few minutes. All you need to have is your login credentials. With the help of your login ID and password, you can anytime login to your account and track the account details.

    Standard Chartered Personal Loan Statement

    Standard Chartered Bank provides personal loan statement on your e-mail ID every month. The statement includes all the details such as account number, loan details, personal credentials, etc.  The best thing about this statement is that you can anytime access the same and keep an eye on your personal loan account on the go.

    Features and Benefits

    • Low interest rates
    • Simple documentation
    • Quick processing & Disbursal
    • Affordable Financing
    • No requirement of a collateral/guarantor
    • Easy monthly repayment options
    • High loan amounts

    About Standard Chartered Personal Loan

    Standard Chartered is a British multinational banking and financial services company, holding a network of around 1,200 branches and outlets across more than 70 countries. Moreover, with a revenue of around 14.61 billion, this bank is considered as one of the most trustworthy lenders today. Over the years, the bank has created its own niche because of its unmatched services.

    The bank has got a strong foothold in India’s personal loan space by bringing in customized offers for borrowers. When it comes to personal loan, this bank fulfills personal financial needs of all, such as home renovation, sudden travel or your friend’s marriage.

    How to Get a Personal Loan from Standard Chartered Bank During the Lockdown?

    As the lockdown is imposed by the government considering the spread of the COVID-19 pandemic in India, Standard Chartered Bank has some opportunities for you in this tough period. What’s that? If you have a salary or savings account with Standard Chartered Bank, you can get an attractive personal loan to meet your needs.

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    Fullerton India14.00% - 33.00%
    HDFC Bank10.75% - 21.45%
    ICICI Bank10.99% - 18.49%
    IndusInd Bank11.25%
    Kotak Bank10.99% - 20.99%
    RBL17.50% - 24.00%
    Standard Chartered Bank11.50% - 18.00%
    Tata Capital10.99% - 18.00%