Standard Chartered Personal Loan – Interest Rate, Eligibility and Documentation
Standard Chartered Personal Loan – Standard Chartered Bank offers flexible collateral-free personal loans up to Rs 40 Lakhs for salaried employees and self-employed professionals.
Read on to learn about eligibility terms, documents required, application process, interest rates and repayment tenure associated with availing a multi-purpose personal loan from Standard Chartered.
Details About Standard Chartered Personal Loans
- Loan Amount: Rs 1 Lakh to Rs 40 Lakhs
- Interest Rates: @10.5% per annum onwards
- Loan Tenure: 12 months to 60 months
- Disbursal Time: 4 working days post-loan approval
Standard Chartered Personal Loan Eligibility Criteria
To qualify for a Standard Chartered personal loan product, applicants must:
- Be aged between 23 years to 58 years
- Be working in MNC/Government jobs/PSU’s or reputed limited companies
- Have 3+ years of job experience in case of salaried professionals
- Have adequate business stability with income proof for self-employed borrowers
- Have sound repayment capacity basis monthly income levels
- Carry a strong credit score with a minimum score of 750+
- Submit all documents timeously as per bank requirements
Upon meeting the eligibility around age, credit score, job stability, income levels and cashflows, applicants can proceed to apply for quick approval on a personal loan from Standard Chartered.
Documents Required For Standard Chartered Personal Loan
Below mentioned documents need to be kept handy while applying:
- Signed Personal Loan Application Form
- Identification Proof (PAN Card / Aadhaar / Passport)
- Address Proof (Voter ID / Electricity Bill / Bank Statement)
- Last 3 Months Salary Slips + Bank Statements
- Last two years Form 16 for salaried applicants
- Last 2 Years ITR + Financials for self-employed applicants
The documents need to be self-attested by the applicant before submission to Standard Chartered via the online application portal or through offline branch visit mode.
How To Apply Online For Standard Chartered Personal Loan
To provide ease of application, Standard Chartered allows personal loan requests through an online process:
Step 1: Visit the bank website and click on the ‘Apply for Personal Loan’ button
Step 2: Read the T&Cs, eligibility criteria and documents required on the page
Step 3: Fill out the loan application form and provide employment and financial details
Step 4: Attach the relevant proof documents before submission
Step 5: Pay the application fee through NetBanking or the Card option
Step 6: Check application status through website/email updates
Step 7: Branch executive contacts if any further documents required
Step 8: Visit the local branch for verification on approval and enjoy loan disbursal!
Offline Application Through Branch Visits
Alternatively, customers can choose to walk into the nearest branch:
Step 1: Visit the nearest Standard Chartered branch
Step 2: Request for personal loan application form and eligibility brochure
Step 3: Discuss queries regarding criteria, tenure, and rates with a bank executive
Step 4: Fill in accurate details and attach document copies for processing
Step 5: Submit the form along with a one-time processing fee payment
Step 6: Later, provide additional documents if required by the credit team
Step 7: Post approval processes, sign agreement accepting T&Cs
Step 8: Receive the personal loan amount in your checking account within four working days
Key Benefits Of Standard Chartered Personal Loans
- Special rates for Priority clients, 30% – 50% lower Processing Fee
- Pre-approved offers if existing bank relationship
- Online application possible along with tracking view to check status
- Foreclosure is allowed anytime without additional charges
- Top-Up Loans to increase existing limits in light of eligibility
- Balance Transfer facility to shift debt from other banks
Factors Impacting Standard Chartered Personal Loan Interest Rates
The interest rate offered on approval varies based on:
- Strong credit score attracting preferential rates
- Stability of income and high earning capacity
- Choice of higher repayment tenures up to 5 years
- Online mode of application improving accessibility
- Existing relationship with Standard Chartered Bank
Standard Chartered Personal Loan Tenure Options
Standard Chartered offers a choice of loan tenures from 12 months to 60 months:
- 12-36 months for loans below Rs 10 lakhs
- 37-48 months for loans from Rs 10 – Rs 15 lakhs
- 49-60 months for loans above Rs 15 lakhs
Evaluate options carefully, considering long-term obligations before picking an ideal loan tenure aligned to repayment capabilities.
Tracking Personal Loan Requests
Applicants can easily track the status of their Standard Chartered Personal Loan application online 24×7 by:
- Logging in account dashboard through NetBanking with credentials
- Emailing service representative requesting a status update
- Calling 24 hours helpline number requesting application status
This enables clarity on the application’s current stage and expected steps. On approval, applicants are informed by email/SMS of the successful outcome and expected disbursal date into a bank account linked during the application process.
How To Connect With Standard Chartered For Queries
To learn more about Standard Chartered personal loans, eligibility criteria, documents required or the application process – the below channels can be reached out to:
- Email: Direct emails to customer.care@sc.com
- Call: Speak to Phone Banker on +91-22-67667777
- Visit: Walk in to nearest Standard Chartered Branch
Thus, Standard Chartered Bank offers easy personal loan financing for your lifestyle needs. Check eligibility and apply online or offline today!
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