When To Use Standard Chartered Bank Personal Loan?

During times of personal crisis you need financial support which can’t be better than a personal loan. You can get it for all your needs in a hassle-free manner. The needs can vary from one person to another like you can use a loan for funding your child’s education, buying yourself a newly launched gadget, or any other thing. A personal loan is a kind of an unsecured loan that is given by several banks and financial institutions. But when it comes to the personal loan given by the Standard Chartered Bank, it is difficult to match its services.

So, if you are someone who is looking to get a loan for your personal needs, then a Standard Chartered Bank personal loan is the best option for you. In this article, you will know about all the details related to the personal loan and why it would be the most suitable choice for you. 

Benefits of Standard Chartered Bank Personal

You can use the personal loan for wedding, education, medical emergency, etc. And the maximum amount you can borrow from Standard Chartered Bank is INR 50 lakh. Your Standard Chartered Bank personal loan amount is based on your eligibility for it. Minimum income of the applicant should be INR 25,000 per month to borrow a personal loan from Standard Chartered Bank. An attractive rate of interest 12.00%-17.00% per annum is charged on your Standard Chartered Bank personal loan. And to pay the borrowed loan amount, you have a duration of 5 years. 

How to use the Standard Chartered BankPersonal Loan EMI Calculator?

You just need a few details to know the exact amount which you will be paying every month. This amount is known as EMI. With the help of the Standard Chartered Bank personal loan EMI calculator, you can easily have an estimate about it. The details that you will know are required loan amount, rate of interest, and required tenure. As soon as you will feed these details into the calculator, you will get the EMI amount within a second. 

Apply for Standard Chartered Bank personal loan

You can go to the bank branch and visit the official bank website to apply for a personal loan. Here look at the following documents which you are required to submit when you apply for the Standard Chartered Bank personal loan.

  • Passport
  • Photo PAN  card
  • Driving license
  • Voter ID card
  • Photo ration card
  • Telephone bill
  • Electricity bill

After the submission of the documents you need to wait for its approval. And when the loan is approved it will take up to 7 working days to disburse the loan amount. Then you can use the loan to meet your financial needs and pay for the loan in equated monthly installments using ECS, PDCs, or SI payment methods.

So, if you are in need of funds and don’t know where to borrow from, then go to the Standard Chartered Bank branch and apply for a personal loan.