|
|
| Home » Standard Chartered Bank » Home Loans Rates |
|
|
Standard Chartered Bank Home Loans Rates |
Standard Chartered Bank home loans rates rank among the best rates that are being offered by the foreign banks operating in India. If youre contemplating about purchasing your dream home by way of a home loan with an attractive rate, you can definitely take a Standard Chartered Bank home loan into account.
About Standard Chartered Bank Home Loans Rates
The table given below will help you understand Standard Chartered Bank home loan rates better:
| Standard Chartered home loan interest rate |
| Loan Amount |
Less than Rs.20 lakhs |
Above Rs.20 lakhs |
| Fixed |
10.5% |
13% |
| Floating |
9.5% |
12% |
Standard Chartered Bank home loans rates are worked out on a daily reducing balance basis with one month intervals. You can switch from a floating to a fixed interest rate and vice versa and you have a charge which is equivalent to 1.5% of the principal amount due.
Schedule of charges for Standard Chartered Bank home loans
Given below are the different types of charges that are associated with Standard Chartered Bank home loans:
| Categories of Fees |
Home Loan/Loan Against Property |
Homesaver/Loan Against Property |
| Partial prepayment fee |
NIL for partial pre-payments lower than
25% of the principal balance due in a
calendar year.
In case of partial pre-payments higher than
25% of the principal amount due in a
calendar year, the charges will be as
follows:
In case of Home Loans:
2.5% of the whole amount paid.
In case of Loan Against Property:
4% of the whole amount paid. |
NIL for partial pre-payments lower than 25% of the principal amount due in a calendar year. In case of partial pre-payments above 25% of the principal balance due in a
calendar year, the charges will be as follows:
In case of HomeSaver:
2.5% of the whole amount paid.
In case of HomeSaver - Loan Against Property
4% of the whole amount paid. |
| Penal Interest |
27% per annum |
27% per annum |
| Charges for EMI Cheque Bounce |
Rs.495 on every occasion |
Rs.495 on every occasion |
| Loan Pre-closure fee |
In case of Home Loan:
2.5% of the principal balance due
In case of Loan Against Property:
4% of the principal amount due on complete pre-payment. |
In case of HomeSaver
2.5% of the Loan Cap
In case of Loan Against Property HomeSaver
4% of the Loan Cap on complete pre-payment. |
|
|
|
What are the documents that you need to furnish while applying for a Standard Chartered Bank home loan?
You usually have to furnish the following documents when you apply for a Standard Chartered Bank home loan:
- Age, Identification and Address/Residential Proof
- Completed application form with self authenticated photograph
- Income Proofs
- Bank Statement
- Cheque for Processing Fee
There might be necessity of other documents, information regarding which will be provided to you at the time of sending the loan application.
Options for repayment
You can use any of the following options for repaying a Standard Chartered Bank home loan:
- Electronic Clearing System (ECS)
- Post Dated Cheques (PDCs)
- Standing Instructions on your Standard Chartered bank account
Processing fee for Standard Chartered Bank
The amount of processing fee would differ from 0.5 % - 1.50% of the approved loan amount subject to the loan scheme you choose.
What is the maximum amount of loan that you can avail?
Maximum loan amount is 5 crores, subject to your repayment ability and the city where the loan is offered.
How long will it take to become approved for the loan?
Once you have furnished all the necessary paperwork, you will be approved for the loan within 4 working days, under regular conditions.
Standard Chartered Bank currently offers supplementary benefits such as home loan refinancing facility, insurance coverage and others to make the home loan schemes more attractive.
|
|
|
|
