How Standard Chartered Personal Loans Resolve Your Financial Uncertainty?

You can go to your nearby Standard Chartered Bank and request for a personal loan. The process is straightforward, you need to fill up a form and submit it to the bank branch with the necessary information/documentation. Why should you borrow Standard Chartered Personal Loan? Because it has a high loan limit, attractive interest rates, flexible tenure and part payment facility up to 25% of your outstanding balance. Let’s go further in this article and learn more about the Standard Chartered Personal Loan features and benefits.

How Much I Can Borrow with Standard Chartered Personal Loan?

You can borrow a maximum of INR 50 lakh loan amount from Standard Chartered Bank in respect of its personal loan. And to avail this loan, you need to meet the following criteria –

  1. Your Age should be between 22-58 years
  2. And your net monthly salary should be greater than INR 22,000

If you meet the above criteria, you can borrow Standard Chartered Personal Loan without a hassle.

What Interest Rate Does Standard Chartered Bank Charge for a Personal Loan?

Standard Chartered Personal Loan interest rate starts from 11.49% onwards. And as stated in the Standard Chartered Bank personal loan customers data, the bank charged an interest from 11.00-21.00% in the period of July 2020 to September 2020.

Repayment Schedule of the Standard Chartered Personal Loan!

You will get to choose from a tenure of 12-60 months for your Standard Chartered Personal Loan repayment. And for assistance you can use the bank EMI calculator. To use this calculator, you just need to fill in the following details –

  1. The amount you want to borrow 
  2. & the tenure for its repayment

Within a few seconds your EMI and total repayment amount will be displayed on your screens.

Standard Chartered Personal Loan Fee & Charges

Look at the below mentioned fee and charges before applying for Standard Chartered Personal Loan –

  • Processing fee – Up to 2.25% of the loan amount
  • Late payment fee – INR 495
  • Penalty charge – 2% per month
  • Swap charge – INR 500 (applicable on swapping of loan repayment instrument like ECS and Standing Instruction)
  • Documentation and administrative charges – up to 2.25% of the loan amount

Part-payment Fee Grid

Number of EMIs Repaid Percentage of the Principal Amount Outstanding Balance 
0-12 months 5%
12-24 4%
25-36 2%
>36 1%

How to Apply for Standard Chartered Personal Loan Online?

To apply online, visit the Standard Chartered Bank official website and follow the instructions below –

  • Select ‘Personal Loan’ from its product category
  • Click the ‘Apply Now’ button
  • You will be redirected to the ‘View Quote’ page where you can view the loan amount, interest rate, etc.
  • After selecting the desired loan amount and tenure click the ‘Apply Online’ button

Once you have completed the online application process for the Standard Chartered Personal Loan, later the bank officials will contact you to verify the details. And ensure that you have the following documents on the go, as they will be required  during the loan process –

  • Aadhaar Card
  • Passport
  • Photo Pan Card
  • Driving License
  • Voter ID Card
  • Photo Ration Card
  • Passport
  • Telephone Bill
  • Ration Card
  • Electricity Bill
  • Driving License
  • Life / Medical Insurance Policy
  • Rental Agreement
  • Apartment Allotment Letter