Standard Chartered Bank Personal Loan - Apply Online @11.49%

If you are in search of a bank that offers best high-end services to each of its customer, the search ends here- Standard Chartered bank has been in existence ever since 1800s. With more than 1700 branches in 70 countries, this bank has employed 87,000 people. Standard Chartered Bank is considered as a universal bank and it operates for corporates and individuals. This bank has primary listing in London Stock Exchange. Whether small or big, each of its corporate and individual customers is given utmost care and attention at all times. This is one of the best banks to avail a personal loan.

Institution Type: Bank

Minimum Loan Amount: ₹100,000

Maximum Loan Amount: ₹3,000,000

Minimum Tenure: 12 months

Maximum Tenure: 60 months

Interest Rates: 11.49% - 21.00%

Fees & Charges: Up to 3% + GST as applicable                                                                                    

Features

• Wide variety of loans for both salaried employees and self-employed individuals.
• Lowest personal loan interest rates starting @10.50%.
• No Securities, Collaterals required.
• Easy documentation and quick processing.
• Repayment Options varying from ECS, Account Debits or PDCs.

Benefits

• Loans are offered from ₹100,000 up to ₹3,000,000 depending on eligibility criteria of the individual, per their income as well as repayment capacity.
• Processing fee is up to 3% of loan amounts.
• The loan tenure is between 12 to 60 months.
• Loan amount will be disbursed with-in 7 working days if all relevant documents are submitted on time.
• No security, collateral or guarantors are mandatory for procurement of a personal loan from Standard Chartered.

Though there are more than countable reasons to choose Standard Chartered Bank for a personal loan, a few among them are listed below. Make use of these to avail your personal loan from the best bank.

• Lowest personal loan rates, starting @11.49%.
• It is possible foreclose the entire personal loan any time after paying 12 EMI's along with the prepayment charges
• Standard Chartered Bank is rated as 5.0 by almost all customers for its service quality
• Standard Chartered Bank has over 1700 branches where you can avail service
• Special schemes and attractive discounts are offered for its staffs and employees of all large companies.

Applying for a Standard Chartered Bank Personal Loan is as simple as shopping online. All you need to do is, just visit the Finance Buddha site and check your eligibility and check for the banks that are ready to offer personal loan per your criteria. Once you have the full list, simple choose the bank and apply online. The respective bank will contact you within couple of days to work on your request.

If you want to directly apply for a Standard Chartered personal loan, make use of the below 3 simple steps at Finance Buddha personal loan tab with your details like required loan amount, company name, salary account bank name, salary and any details of existing EMI amount.

• Check eligibility in the site by giving all your credentials. This will not just help you understand if you are eligible for a loan but will also let you know the amount limits up to which the loan can be taken.
• Interest rates vary from bank to bank, but Standard Chartered offers best rate with comparison to the level of service it offer. Each individual should scrutinize the interest rate feature and any hidden charges before applying a loan.
• Use application in Finance Buddha site to apply for a personal loan directly. This site helps in directly reaching the bank representative. Once your request hits their radar, they will contact you within 2 working days to consider the next steps.

Eligibility for personal loan depends upon various factors of which few very most important one is the ability to pay back the loan amount. The factors on which Standard Chartered Bank calculates a person’s eligibility are:

1. Age: Eligibility and repayment capacity is calculated as per the age of the individual. Standard Chartered Bank provides personal loan to self-employed and salaried individuals at the age of 23 to 58 years.
2. Income:  Eligibility for personal loan considerably depends upon the income of an individual. There is minimum limit of income of the individual set by each bank- Standard Chartered Bank looks for net monthly salary of minimum ₹50,000.
3. Profession and Job Stability: This is an important factor to improve the eligibility for a personal loan. In case of salaried, there should be a full time job at least for 36 months out of which minimum 3 months should be with current company. In case of self-employed, the current profession or business should be in existence for at least 3 years and should if possible own either an office or a place of residence. Minimum net income or minimum turnover criteria should be considered while applying.  Apart from job stability, another important factor is profession; this can affect the personal loan eligibility. Working with reputed companies will increase the probability of getting personal loan as the income is more stable.
4. Credit History: The past CIBIL history as well as repayment record of outstanding loans or credit cards will directly impact on the personal loan eligibility. Poor repayment record will cause to the drop of CIBIL score and a continuous good record helps in increasing the CIBIL score. This is a must factor that is considered by all banks irrespective of what type of loan is requested by the individual. Though Standard Chartered Bank does not specify any particular CIBIL score, a score of 750 and above is desirable.
5. Loan Amount: Standard Chartered Bank gives personal loan based on the income level. This bank gives loan amount ranging from ₹100,000 to ₹30,000,000.

 Standard Chartered Bank offers personal loan at lowest interest rates starting @10.89%.

Below is a table of personal loan rates offered by the bank to its customers in the last quarter of 2018.

1. Filled up loan application form
2. 1 Passport Size Photo
3. Copy of Income Tax PAN
4. Identity Proof - Passport/ Driving License/ Voter ID/ PAN
5. Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport.
6. Income Documents – 3 months’ pay slip, 1 years Form 16, 3 months bank statement showing salary credit and any EMI debit.