In today’s fast-paced world, financial flexibility is a necessity. Whether it’s for an unexpected medical expense, a dream vacation, or a home renovation project, having access to quick and reliable funds can make a significant difference. This is where Standard Chartered Bank‘s personal loan offerings come into play. In this article, we will delve into the features, benefits, and application process of Standard Chartered Bank’s personal loans, ensuring you have all the information you need to make an informed financial decision.

Key Features of a Standard Chartered Bank Personal Loan

Eligibility Criteria	Details
Age	23-58 yrs (at loan maturity)
CIBIL	750
Standard Chartered Bank Interest Rate	9.99% per annum
Lowest EMI per lakh	Rs.2,169
Tenure	12 to 60 months
Standard Chartered Bank Processing Fee	1% of the loan amount
Prepayment Charges	Up to 5% of the sum
Part Payment Charges	NIL
Minimum Loan Amount	Rs. 1 lakh
Maximum Loan Amount	Rs. 30 lakh

Standard Chartered Bank Personal Loan Interest Rate and Charges

Standard Chartered Bank Personal Loan Interest Rate	9.99% per annum
Standard Chartered Bank Personal Loan Processing Charges	1% of the loan amount
Prepayment Charges	Up to 5% of the sum
Stamp Duty	NIL
Cheque Bounce Charges	NIL
Penal Interest	NIL
Floating Rate of Interest	NIL

Standard Chartered Bank Personal Loan Status

The following techniques can be used to verify the status of your Standard Chartered Bank Personal Loan:

• You can ask the banker for the same thing by going to your loan branch.
• To check the status of your loan, log in to the Standard Chartered Bank Net banking Portal, select Loans from the top ribbon, and then click Enquire.

Standard Chartered Bank Loan Eligibility Requirements

Personal Loan Eligibility Criteria:

CIBIL score	750 and above
Age	23-58 yrs ( at loan maturity )
Min Income	Rs. 15,000
Occupation	Salaried/Self-Employed

Fees & Other Charges for Standard Chartered Bank Personal Loan

Category	Details
Standard Chartered Bank Personal Loan Interest Rate	10.50% per annum
Standard Chartered Bank Personal Loan Processing Fee	1% of the loan amount
	Min ₹ 1000 and Max ₹ 25000
Prepayment	No prepayment is allowed until 12 EMIs are paid
Pre-closure	No foreclosure is allowed until 12 EMIs are paid
Prepayment Charges	13-24 months: 4% of loan principal outstanding
	25-36 months: 3% of loan principal outstanding
	>36 months: 2% of loan principal outstanding
Stamp Duty	As per state laws
Cheque Bounce Charges	₹ 550/cheque +  GST
Floating Rate of Interest	Not Applicable
Overdue EMI Interest	2% p.m.(on overdue amount)
Amortization Schedule Charges	₹ 200 + GST

Standard Chartered Bank Personal Loan Documents Required

Form	Duly filled application form
Proof of Identity	Copy of: > Passport > Driving License > Aadhaar Card > Voter ID Card
Proof of Address	Rent Agreement (Min. 1 year of stay) Utility Bills Passport (Proof of permanent residence) Ration card
Proof of Income	> ITR: Last two Assessment years > Salary Slip: Last 6 months > Bank Statement: Last 3 months

Standard Chartered Bank Personal Loan EMI Calculator

Rate	5 Yrs	4 Yrs	3 Yrs
10.50%	2149	2560	3250
11.00%	2174	2584	3273
11.50%	2199	2608	3297
12.00%	2224	2633	3321
12.50%	2249	2658	3345
13.00%	2275	2682	3369
13.50%	2300	2707	3393
14.00%	2326	2732	3417
14.50%	2352	2757	3442
15.00%	2378	2783	3466

Standard Chartered Bank Personal Loan Compared to Other Banks

Bank	Interest Rate	Tenure	Loan Amount & Proc Fee
Standard Chartered Bank	9.99%	12 to 60 months	Up to Rs. 30 lakh / Up to 3% of Loan Amount
HDFC Bank	11.25% to 21.50%	12 to 60 months	Up to Rs. 40 lakh / Up to 2.50% of the loan amount
Bajaj Finserv	Starting from 12.99%	12 to 60 months	Up to Rs. 25 lakh / Up to 3.99% of the loan amount
Axis Bank	15.75% to 24%	12 to 60 months	Rs. 50,000 to Rs. 15 lakh / Up to 2% of the loan amount
Citibank	Starting from 10.99%	12 to 60 months	Up to Rs. 30 lakh / Up to 3% of the loan amount
Private Bank	11.50% to 19.25%	12 to 60 months	Up to Rs. 20 lakh / Up to 2.25% of the loan amount

How to Calculate EMIs for Standard Chartered Bank Personal Loan

The necessary information is provided below for the calculation of your Standard Chartered Bank Personal Loan EMI:

1. Loan Amount
2. Rate of Interest
3. Tenure

Find your monthly EMIs using the calculator by entering these values.

Standard Chartered Bank Personal Loan Processing Time

Standard Chartered Bank Personal Loan  processing time is the amount of time the bank needs to approve your loan application. The processing time for this bank is two days.

Standard Chartered Bank Personal Loan Pre-closure charges

Standard Chartered Bank Loan for Individuals Prepayment is the repayment of the loan amount prior to the end of the loan term. Pre-closure lowers your loan’s interest rate.

Documents Required for Standard Chartered Bank Personal Loan Pre-closure

Standard Chartered Bank requires the following documents in order to foreclose on a personal loan:

• A valid photo identity proof
• Loan Account Statement
• Cheque/ demand draft/ cash to make the payment

Standard Chartered Bank Personal Loan Foreclosure Benefits 

Listed below are some of the most important advantages of foreclosing on your Standard Chartered Bank personal loan:

Foreclosure / Full Prepayment

• Allows you to reduce your overall interest payments.
• Releases you from the obligation of making regular loan installments.

Partial Prepayment

• It allows you to save on interest charges.
• Additionally, you have the option of paying a lower EMI or having a shortened loan term.

Standard Chartered Bank Personal Loan Prepayment Facility

The bank also provides prepaid options to assist customers in paying the full amount or a portion of it. If you have a remaining balance and satisfy the conditions listed below, you can pay a portion of your principal balance to reduce it. This will also save interest on capital accumulations. Learn more about the facility listed below.

Note:

• Prepayment will be permitted contingent upon the successful payment of the initial 12 EMIs.
• Prepayments will be permitted for twice the duration of the loan.
• Once per year, prepayment is permitted.
• At no point will the advance payment exceed 25% of the outstanding principal prepayments.

Charges:

• 13 to 24 months – 4% of the principal loan balance
• 25-36 months – 3 percent of the principal loan balance
• Over the course of 36 months – 2% of the principal loan balance

Standard Chartered Bank Personal Loan Pre-Calculated EMI

Rate	5 Yrs	4 Yrs	3 Yrs
10.50%	2149	2560	3250
11.00%	2174	2584	3273
11.50%	2199	2608	3297
12.00%	2224	2633	3321
12.50%	2249	2658	3345
13.00%	2275	2682	3369
13.50%	2300	2707	3393
14.00%	2326	2732	3417
14.50%	2352	2757	3442
15.00%	2378	2783	3466

Standard Chartered Bank Personal Loan for Salaried Employees

Attractive interest rates are available on Standard Chartered Bank Personal Loan for salaried employees. The amount of the loan you receive is determined by the company you work for, your take-home pay, and the city where you live. These loans are available from Standard Chartered Bank for terms of 12 to 60 months, and they give pre-approved consumers rapid approval and funding.

Standard Chartered Bank Personal Loan for Self Employed Individuals

A loan product available to self-employed people in need of money is the Personal Loan for Self Employees from Standard Chartered Bank. They receive a Standard Chartered Bank Personal Loan from the bank with enticing interest rates and a term of 12 to 60 months. However, compared to Salaried Employees, you have to give the bank with more documentation because you need to demonstrate your business’ continuity as well as your reliable income.

Standard Chartered Bank Personal Loan for TCS Employees

• Exclusive personal loans with an affordable annual percentage rate of 11.25 percent.
• Personal loan EMIs begin at Rs. 2,178 per lakh when terms and conditions are satisfied.
• The straightforward documentation procedure for TCS employees.
• Standard Chartered Bank Personal Loan pre-approved for eligible TCS employees.
• For superbike loans, the interest rate begins at 11.99% p.a.
• Great offers on home loans with an interest rate of 9.45% p.a. and a discount rate of Rs. 9.40% p.a. for women.

Standard Chartered Bank Moratorium Proces

The steps involved in establishing your Standard Chartered Bank loan EMIs are as follows:

• Use the Standard Chartered Bank website or the mobile application.
• Click the link where the period of suspension appears
• Indicate your registered mobile number, name, and email address on the application page.
• Then, input your date of birth and select the type of loan.
• Enter your loan number and monthly payment
• Then make a decision and select the proper application.
• Click the EMI reversal option that reads “I agree to pay interest on the outstanding balance”
• Press the ‘Submit’ button
• The bank will examine the particulars and execute your request for suspension
• When you successfully complete the procedure, a reference will be sent to your registered number and email address.

Standard Chartered Bank Personal Loan Special Pricing 

If a customer is seeking a loan quantity of INR 15 lakh or more, the following rates will apply.

Loan Amount	IRR	Processing Fee (+GST)
Loan amount >=15 lakh*	10.50%	INR 3999

This offer is not valid for existing loan amount closure, loan top-up, or loan enhancement.

If a consumer is interested in a balance transfer and a new loan of more than INR 10 lakh, the offer below is available.

NTH	Loan Amount	IRR	Processing Fee (+GST)
>=50000	Loan amount >=10 lakh*	10.50%	INR 3999

• Not applicable on the closing of an existing loan
• Not applicable to the BT Credit Card

How to Handle a Private Loan

Here are four strategies to assist you in managing your loans:

1. Pay On-Time – The first step is to avoid late fees and penalties by paying on time. The best method to accomplish this is by making timely monthly payments. This impacts the credit score as well. These are unnecessary and all-too-common outcomes that will negatively impact your financial situation.

If you have recently taken out or are about to take out a Standard Chartered Bank Personal Loan, the best way to manage it is to make a monthly payment as soon as you receive the loan. By being ahead of your installment plan by one payment, you will have a cushion against a delayed payment.

2. Pay More Than the Minimum – Paying in advance is a smart way to manage your finances, but paying a little extra each month keeps you ahead of your loan term and provides other financial benefits.

In addition, paying extra on your loan reduces the duration of the repayment schedule. This will assist you in paying off your debt and enable you to regain financial independence sooner. Additionally, it will reduce the interest rate you owe, sparing you money in the long run.

Additionally, your credit score improves as you pay off your debts more quickly. A lower credit score will benefit you in multiple ways, including lower down payments and interest rates.

3. Consolidate Your Loans – For borrowers juggling multiple personal loans, consolidation may be the most effective method to simplify debt repayment. Debt consolidation is when you take out one substantial loan to pay off all your other loans. Therefore, one can make a single monthly payment to a single provider as opposed to multiple lenders with varying interest rates and requirements.

Debt consolidation is advantageous if the interest rate on the new loan is lower than the average of the interest rates on the previous loans.

The only disadvantage is that the debt will likely have to be repaid sooner than originally anticipated. Make certain you can afford the payments on a new loan before consolidating your debt. This may also help you repay significant portions of your loans on credit rather than with a single loan, by breaking them down into more manageable chunks.

4. Credit Score – Lastly, when repaying a personal loan, always maintain a close eye on your credit score. The credit score plays a significant role in finances and has a significant correlation with the loans obtained. Your credit score reflects how well you manage your loans. In contrast, falling behind on your payments will lower your credit score. Therefore, a high credit score is essential.

Different Personal Loan offers by Standard Chartered Bank

Standard Chartered Bank Marriage Loan

Marriages are one of the most expensive occasions for Indian families. Standard Chartered Bank offers personal loans with low interest rates and large loan amounts to cover wedding costs.

Standard Chartered Bank Personal Loan for Government Employees

Government employees can apply for a Standard Chartered Bank Personal Loan to cover their financial obligations. The bank has personal loan options to meet your varied financial requirements.

Standard Chartered Bank Personal Loan Offers for Government Employees

Offers By Government	Number of Companies	Processing Fee(% of the Loan Amount	IRR
Miniratna, Navratna, and Maharasthra	55	1.50%	13.49%
			11.49%
			10.99%
Pensioner	All	1.50%	14.75%
Employees from the Railway Department	All	1.50%	16.50%
			15.00%
			14.25%
CISF, CRPF, ITBP, SSB and BSF	All	1.50%	14.75%

State and Central Government Officers:

Section	Salary	Processing charge	IRR
Government Officer Division A (GA) and Division B (GB)	NTH>24k	2%	16.75%
	NTH>35k	2%	15%
	NTH>50k	1.75%	14.75%

Standard Chartered Bank Personal Loan For Doctor

Doctors and other medical professionals can apply for a Standard Chartered Bank Personal Loan and take advantage of a variety of offers and discounts tailored to their personal and professional requirements.

Standard Chartered Bank Personal Loan for Pensioners

By applying for a Standard Chartered Bank Personal Loan, government retirees can meet their post-retirement financial obligations. All pensioners with pension accounts at the bank are eligible for special offers.

Standard Chartered Bank Balance Transfer

Standard Chartered Bank Loan for Individuals Balance Transfer is the transfer of a loan’s balance from one financial institution to another. A balance transfer can help reduce your loan’s interest rate.

Standard Chartered Bank Loan Top Up

Standard Chartered Bank Loan for Individuals Top Up is the additional sum added to the existing loan balance. You are eligible for a top-up loan if you have paid 12 installments on time.

Standard Chartered Bank Personal Loan Overdraft Facility

An individual overdraft is a credit office that authorises you to withdraw cash as needed. Additionally, you can repay the loan in full whenever the conditions are favourable. From now on, it is likely to be one of the most popular credit options, as it is ideally suited to meet an individual’s ever-changing financial requirements.

For an unexpected turn of events, Standard Chartered Bank offers an overdraft office. The adaptable enhancement office possesses all the enormous characteristics of a modest overdraft credit.

Standard Chartered Bank Home Renovation Loan

Standard Chartered Bank offers home improvement loans to customers who intend to renovate their homes. This personal loan would finance necessary home repairs or enable the borrower to purchase new appliances, fixtures, and furniture. Four key features of the Standard Chartered Bank Home Improvement Loan are as follows:

• Standard Chartered Bank offers home improvement loans with interest rates beginning as low as 11.25 percent.
• Individuals may apply for a credit of up to Rs. 20 Lakh to renovate their homes.
• Standard Chartered Bank’s home enhancement loan requires minimal documentation, making the entire loan process straightforward.
• The loan amount is typically deposited into the account 72 hours after the bank approves the loan application.

Standard Chartered Bank Holiday Loan

The Standard Chartered Bank Holiday Loan will assist you in planning your ideal trip with minimum disruption. This Standard Chartered Bank Personal Loan will cover a variety of vacation expenditures, such as airline tickets, hotel stays, guided tours, etc. The primary characteristics of the Standard Chartered Bank vacation loan are as follows:

• The annual percentage rate for vacation loans begins at 11.25 percent.
• It is possible to borrow up to Rs 20 Lakh so that a financial emergency won’t ruin your ideal vacation.
• Simplified and minimal documentation enables efficient and effective vacation funding.
• Rapid processing and disbursement of credit, which is deposited directly into your account.

Standard Chartered Bank Fresher Funding

Standard Chartered Bank’s Fresher Funding is not like other unsecured personal loan programmes that target individuals with a steady income. This loan option from Standard Chartered Bank is designed to assist first-time job seekers, such as recent college graduates. The Standard Chartered Bank Fresher Funding personal loan includes the following features:

• Loans of up to Rs. 1.5 lakh
• The candidate should have been at least 21 years of age.
• The interest rate for Fresher Funding is dependent on the loan applicant’s profile, credit history/score, age, and location.

Standard Chartered Bank Personal Loan For NRI

Standard Chartered Bank only offers exclusive loans to NRIs because it is aware of their aspirations. The principal loan applicant must be an Indian national, and a close relative must be an NRI co-applicant. The following are features of NRI Personal Loans:

• Standard Chartered Bank offers private financing for NRIs with an end-use scalability of up to Rs. 10 lakh.
• The annual percentage rate for NRI Personal Loans begins at 15.49%.
• The loan has a term of up to 36 months.

Standard Chartered Bank Personal Loan Preclosure Online

Standard Chartered Bank allows Personal loan borrowers to pre-pay or pre-close their loans. However, you will only be able to prepay your Standard Chartered Bank Personal Loan 12 months after you have obtained it and after paying 12 EMIs plus any applicable foreclosure fees. If you satisfy this condition, you can repay your personal loan early and close the loan before its original due date.

Standard Chartered Bank Personal Loan Process Steps

Step 1:  Determine your requirement

Determine why you need a Personal Loan and the amount you require. For instance, you may need a loan to finance your wedding or home renovations. And you may need as little as Rs. 1 lac or as much as Rs.

Step 2: Check loan eligibility

Once you have determined the amount you require, you should determine your eligibility. You can access the Standard Chartered Bank Personal Loan Eligibility Criteria online in order to determine how much you are eligible to obtain as a Personal Loan. Standard Chartered Bank provides loans of up to 40 million rupees.

Step 3: Determine monthly payments.

Utilise an online EMI calculator to estimate your monthly loan instalments. Like on the Standard Chartered Bank Personal Loan EMI Calculator, you can adjust the interest rate and term to reflect your monthly income. Standard Chartered Bank provides Personal Loans with affordable monthly payments beginning at Rs. 2,149 per lac * (Terms and Conditions).

Step 4: Approach the bank

You can apply for a Personal Loan with Standard Chartered Bank in a variety of methods, including via Net Banking, on the bank’s website, at an ATM, or in person at a branch.

Step 5: Submit documents

Next, determine which documents are necessary for a Personal Loan. You will typically require evidence of income (bank statements, pay stubs, or tax returns), proof of address, and identification. Provide the bank with copies of your Personal Loan documentation.

Await the transfer of funds to your account. Standard Chartered Bank disburses funds for pre-approved loans to consumers in ten seconds*, while non-customers must wait four hours.

This is how to obtain a Personal Loan in five simple stages!

Standard Chartered Bank Personal Loan Prepayment Charges

If you are salaried, you can prepay your Standard Chartered Bank Personal Loan only after 12 equal monthly payments have been made in full.

The following are the prepayment fees for salaried applicants:

• 4% of the outstanding principal balance for terms between 13 and 24 months.
• 5% of the outstanding principal balance for terms between 25 and 36 months.
• 2% of the outstanding principal balance for terms in excess of 36 months.

Check your Standard Chartered Bank Personal Loan Status

The following is a step-by-step guide for reviewing the status of your Standard Chartered Bank personal loan application online.

• Navigate to the “Track your online application status” page on Standard Chartered Bank’s main website.
• To check the status of your Standard Chartered personal loan application, enter your loan application’s application reference number and mobile number, then select “Submit.”

How to Login to the Standard Chartered Bank Portal

• Visit Standard Chartered Bank India’s homepage and select ‘Online Banking Login’ from the ‘Login’ menu.
• Enter the username and password, along with the captcha, and then select ‘login.’
• After logging in, you can view the essential details of all your Standard Chartered accounts, such as your personal loan account and banking services.

How to check Standard Chartered Bank Personal Loan Statement?

There are various methods to search for your personal loan statement online. The following are several significant approaches:

• You can log in to Standard Chartered Net Banking and view/download your personal loan statement by following the steps outlined above.
• You can also seek a copy of your personal loan statement by visiting the Standard Chartered Bank branch nearest you or by calling customer service.

Standard Chartered Bank Personal Loan Restructuring (COVID-19)

To substantially mitigate the effects of the COVID-19 pandemic, a six-month moratorium on term loans was announced. After completing the 6-month moratorium, Standard Chartered Bank announced an RBI-mandated one-time benefit from the restructuring of Standard Chartered Bank’s personal loan. This programme is intended to provide continued assistance to borrowers who, due to the ongoing financial hardship caused by the pandemic, are still unable to commence repayment of their regular EMI.

In order to reduce monthly EMI payments, Standard Chartered Bank’s loan settlement mechanism requires an additional moratorium of up to two years or an extension of the present repayment period. It should be noted that the restructuring of the Standard Chartered Bank’s personal loan would result in higher interest rates than the original loan. As a result, this relief instrument should only be used as a last resort.

Standard Chartered Bank Customer Care

You can contact us at this number for any product-related questions: 9878981166.

How to obtain the finest Standard Chartered Bank Personal Loan deal?

Standard Chartered Bank offers the best personal interest rates, contingent upon an evaluation of your loan amount, salary, other obligations, and loan duration. Standard Chartered’s interest rate on a personal loan is determined by the following variables:

• Loan Amount – The loan amount is the sum that the borrower borrowed from the bank. Banks typically charge lower interest rates on larger sums. Axis Bank provides loans ranging from 50,000 to 75 lakhs.
• Salary – Your ability to repay the loan is determined by your income. Loans with lower interest rates are made available to people with higher salaries. The bank’s interest rate varies according to your net monthly income.
• Employer Category –  Based on the size, standing, and history of the company with the bank, Axis Bank has created an internal list of companies that fall into several categories and are ranked from high to low company categories. Employees who work for businesses in higher company categories are eligible for generous discounts and low-interest loans.
• Relationship with the Bank – Axis Bank provides exclusive rates, deals, and fees to current bank account holders. A low Axis Bank loan interest rate will be available to borrowers who have managed their accounts and paid all of their payments on time in the past.
• Loan Tenure – Since personal loans are taken out to cover urgent needs, their terms are usually shorter, ranging from 12 to 60 months.
• Repayment Capacity – Axis Bank evaluates a borrower’s ability to repay a loan before granting one. Through CIBIL, which includes the repayment history of prior loans obtained, the bank confirms the customer’s ability to repay the loan. Credit card bill payment information is also recorded by CIBIL.

How does the Standard Chartered Personal Loan function?

Here is how it works:

Maximum Annual Percentage Rate (APR)

11% to 22.5%

A representative example of the total cost of the loan, including all applicable fees

Here is an illustration of the total cost of the loan: Total amount borrowed: ₹ 1,00,000 Time period: 12 Months to 60 Months. Axis Bank Personal Loan Interest Rate: 10.50% to 22.00% Processing Fee payable to Upto ₹ 2,500 Fee payable to MyLoanCare: NIL Total Monthly Cost – From ₹ 2,149 for 60 Months ₹ 1,00,000 loan at 10.50% (lowest rate, longest time period) to ₹ 9,359 for 12 Months ₹ 1,00,000 loan at 22.00% (highest rate, shortest time period). This is inclusive of principal repayment. Annual Percentage Rate (APR) of charge including all applicable fees: 11% to 22.5% Total cost payable over loan tenure: ₹ 8,278 for 12 Months loan to ₹ 31,463 for 60 Months loan

Significant Aspects

Maintain a stable credit score: Since a strong credit score indicates that you have made all past payments on time, a credit score reveals your repayment history to a lender. Therefore, having a high credit score is essential.

Check your eligibility: eligibility requirements for personal loans can differ from lender to lender. Check your eligibility to apply for a personal loan with a particular lender before proceeding.

Do not apply concurrently with multiple lenders: if you apply concurrently with multiple lenders, you may appear credit-hungry. Therefore, you may not qualify for a personal loan.

Balance all credit card payments: Before accepting a personal loan, your debt-to-income ratio should not exceed 50 percent, as determined by your current credit card expenses.

FAQs on Standard Chartered Bank Personal Loan