Personal Loan
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Want to apply for a personal loan that comes with a pocket-friendly EMI? Apply at Standard Chartered Bank that offers the loan at an attractive interest rate of 11.49% Onwards. Grab more info about this product on the page below.
Standard Chartered Personal Loan Interest Rates September 2023
| Particulars | Details |
|---|---|
| Interest Rates | 11.49% Onwards |
| Loan Amount | INR 1 Lakh - INR 50 Lakh |
| Repayment | 12 months-60 months |
| Processing Fees | 1% of the loan amount + GST |
| Pre-Closure Fee | 1%-5% of the principal outstanding+GST |
Standard Chartered Personal Loan Rates in Detail
| Company Type | Loan of <3 Lakh | Loan of 3-5 Lakh | Loan of 5-8 Lakh | Loan of 8-10 Lakh | Loan of More than 10 Lakh | Processing Fee |
|---|---|---|---|---|---|---|
| CAT A | 11.99% | 11.50% | 11.25% | 11% | 11% | 1% |
| CAT B | 11.99% | 11.50% | 11.25% | 11% | 11% | 1% |
| CAT C | 11.99% | 11.50% | 11.25% | 11% | 11% | 1% |
| CAT D | 11.99% | 11.50% | 11.25% | 11% | 11% | 1% |
| Unlisted Company with EPFO Deduction | 12.50% | 12% | 11.75% | 11.75% | 11.50% | 1% |
Preclosure Grid
| Pre closure Grid | Charges |
|---|---|
| Upto 12 Months | 5% |
| 13 to 24 Months | 4% |
| 25 to 36 Months | 2% |
| > 36 Months | 1% |
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. The personal loan 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- INR 2,00,000
- Tenure- 5 Years
- Rate of interest- 12% p.a.
Table Showing EMI, Interest Outgo, and Total Repayment Amount
| Loan Amount | Interest Rate | Tenure | Monthly Instalment | Total Interest Amount | Total Amount |
|---|---|---|---|---|---|
| ₹ 2,00,000 | 12% | 1 | ₹ 17,770 | ₹ 13,237 | ₹ 2,13,237 |
| ₹ 2,00,000 | 12% | 2 | ₹ 9415 | ₹ 25,953 | ₹ 2,25,953 |
| ₹ 2,00,000 | 12% | 3 | ₹ 6643 | ₹ 39,143 | ₹ 2,39,143 |
| ₹ 2,00,000 | 12% | 4 | ₹ 5267 | ₹ 52,805 | ₹ 2,52,805 |
| ₹ 2,00,000 | 12% | 5 | ₹ 4449 | ₹ 66,933 | ₹ 2,66,933 |
EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
| Year | Principal | Interest | Balance 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.
For Salaried
- The minimum age of the applicant should be 21 years
- The maximum age of salaried should be 65 years respectively.(For >58 years retirement proof to be in place)
- The minimum monthly income of the applicant should be INR 25,000 (in case of existing customers) OR INR 30000 & INR 50,000 (in case of new customers basis on the location)
- The applicant should have a work experience of minimum 2 years.
For Self Employed
- The minimum age of the applicant should be 26 years
- The maximum age of self employed should be 70 years respectively.
- Income criteria – Last 2 years IT returns > INR 100000
- Latest ITR should not be higher than 130% of previous year ITR
- Difference between previous year ITR and current year should be greater than 3 months
- The applicant should have a work experience of minimum 3 years.
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.
| Salaried | Self-Employed |
|---|---|
| Identity Proof | Passport, photo pan card, driving license, votes id card, photo ration card |
| Address Proof | Passport, 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.