Standard Chartered Bank Home Loan

 

About SCB Home Loans

SCB or Standard Chartered Bank is the largest international bank operating on the Indian soil for over 150 years, since the start of its Indian operations in 1858. Standard Chartered India is the Indian arm of the Standard Chartered PLC, a British multinational banking and financial services company headquartered in London, England. In India, the bank has 100 branches in more than 42 cities and provides all kinds of financial services including private banking, NRI banking, personal banking, priority banking and much more to the Indian customers. Standard Chartered bank also offers home loans, personal loans etc. as a part of its personal banking operations in India.

SCB Home loans enable Indian borrowers to visualise and realise their home dreams through easy home finance solutions, starting at an interest rate of 9.3% per annum. With Standard Chartered Bank you can opt for tailor made home loan solutions and avail home loans of up to INR 35 crore with a repayment tenure extending up to 25 years. Below we provide more details on the SCB Home loan eligibility criteria, features and applicable charges.

Home Loan Eligibility Criteria for Salaried / Employed

SCB Home loan can be availed by both salaried as well as self-employed individuals as long as they provide valid proof of regular income and prove their repayment capacity. In order to do so, salaried individuals are asked to submit their latest Form 16, 3 months’ bank statement and 2 months’ salary slips.

Self-employed professionals and nonprofessionals on the other hand must submit their last 2 years’ profit and loss statements, capital account statements and balance sheets, all duly certified by a chartered accountant. Apart from that they must also provide the last 2 years’ income tax returns, income computation and audit reports. Various other documents are required to prove eligibility criteria in case of private limited companies and partnership firms. You can find updated details related to SCB Home loan eligibility criteria including minimum age, maximum age, employment tenure, minimum income, qualification etc. below.

18 – 65 years

Age (Min – Max)

4k – 65k

Minimum Income (Metro Cities)

4k – 65k

Minimum Income (Other Cities)

6 – 10 yearsk

Overall Employment

6 – 10 years

Tenure Current Employment

750 Points

CIBIL Score (=>)

18 – 65 years

Age (Min – Max)

4k – 65k

Minimum Income (Metro Cities)

4k – 65k

Minimum Income (Other Cities)

4k – 65k

Minimum Income
(Doctors/ CA)

5 – 10 Years

Post Qualification experience a
(Doctors / CA)

5 – 10 Years

Post Qualification experience a
(CS / Architect)

750 Points

CIBIL Score (=>)

SCB Home Loan Features / Details

With SCB Home loan you can avail a cashback facility through which you can get up to 2% cash back depending upon your repayment track record. This cashback is automatically credited to your account with the Standard Chartered Bank. You can also transfer any of your existing home loan to Standard Chartered Bank at a reduced interest rate. SCB also provides a unique financing solution called Home Saver that enables you to repay your home loan in the quickest manner possible, with reduced interest rate. The bank offers a doorstep service making sure that you get your home loan faster than any other lender in the market. More details related to the SCB Home loan features including interest rate, minimum/maximum loan amount, tenure of the loan etc. are provided below.

8.40%

Interest Rate (Min)

5 – 30 Years.

Loan Tenure

25k – 50Lacs

Loan Amount (Min – Max)

SCB Home Loan Fees / Charges

All sanctioned SCB Home loans involve a processing fees of up to 1% of the sanctioned loan amount. There are no part prepayment charges involved in case of floating rate home loans extended to individuals. Other pertinent charges such as pre-closure fees, part prepayment fees, cheque bounce charges, document retrieval charges, penal interest etc. might apply depending upon the situation and requirement of the borrower. Details regarding all such SCB Home loan fees and charges are provided below.

2.4% of Loan Amount.

Processing Fees

2.4% – 5.2% of amount prepaid.

Pre-payment Charges

Yes / No

Part Payment Facility

2000

Part Payment Processing Fees