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Standard Chartered Bank is a leading financial institution with a presence in over 60 countries worldwide. One of the many financial products offered by the bank is personal loans, which are designed to help customers meet their financial needs, whether it’s for home renovations, a wedding, or a medical emergency. In this article, we’ll take a closer look at the Standard Chartered personal loan, its features, and benefits.
Features of Standard Chartered Personal Loan
The Standard Chartered personal loan offers a range of features that make it an attractive option for customers looking to borrow money. Here are some of the main features:
- Loan Amount: Customers can borrow up to Rs. 75 lakhs, depending on their credit score and financial profile.
- Flexible Repayment Tenure: Customers can choose to repay their loan over a period of 12 to 60 months, depending on their preference and financial situation.
- Competitive Interest Rates: Standard Chartered offers competitive interest rates on personal loans, starting at just 9.99% p.a.
- No Collateral Required: Customers do not need to provide any collateral to avail of the personal loan.
- Quick Approval and Disbursal: Standard Chartered offers quick loan approval and disbursal, with funds being credited to the customer’s account within 2-3 working days.
- Minimal Documentation: The personal loan application process is simple and requires minimal documentation.
Know: ICICI Home Loan Eligibility
Benefits of Standard Chartered Personal Loan
Apart from the features mentioned above, the Standard Chartered personal loan also offers a range of benefits to customers. Here are some of the main benefits:
- Customizable Loans: Customers can choose the loan amount and repayment tenure that best suits their financial situation.
- Balance Transfer: Customers can transfer their existing personal loan from another bank to Standard Chartered and enjoy lower interest rates and other benefits.
- Online Application: Customers can apply for the personal loan online, from the comfort of their home or office, making the process hassle-free and convenient.
- Pre-approved Offers: Standard Chartered may offer pre-approved personal loan offers to eligible customers, making it easier for them to access credit when they need it.
- Top-up Loans: Customers can avail of top-up loans on their existing personal loan, subject to certain conditions, which can help them meet their additional financial needs.
Know: Bank Of Maharashtra Car Loan
Table: Standard Chartered Personal Loan Interest Rates:
| Loan Amount | Interest Rate (p.a.) |
|---|---|
| Rs. 1 lakh to Rs. 30 lakhs | 9.99% to 18.00% |
| Rs. 30 lakhs to Rs. 75 lakhs | 10.50% to 18.00% |
Note: Interest rates are subject to change at the discretion of Standard Chartered Bank.
Know: IOB Gold Loan Interest Rate
Conclusion
The Standard Chartered personal loan is an attractive option for customers looking to borrow money for a variety of reasons. With competitive interest rates, flexible repayment tenures, and quick approval and disbursal, the personal loan can help customers meet their financial needs with ease. If you’re looking for a personal loan, consider Standard Chartered’s offering and see if it’s right for you.
FAQs
Here are some frequently asked questions about Standard Chartered Personal Loan:
What is the eligibility criteria to apply for a Standard Chartered Personal Loan?
To be eligible for a Standard Chartered Personal Loan, the applicant must be a resident of India and have a minimum age of 21 years. The applicant should also have a stable income source and meet the bank’s creditworthiness criteria.
What is the loan amount that can be availed through a Standard Chartered Personal Loan?
Standard Chartered Personal Loan offers loan amounts ranging from Rs. 1 lakh to Rs. 75 lakhs, depending on the applicant’s credit score and financial profile.
What is the repayment period for a Standard Chartered Personal Loan?
The repayment period for a Standard Chartered Personal Loan can range from 12 months to 60 months, depending on the applicant’s preference and financial situation.
What are the interest rates offered on Standard Chartered Personal Loan?
The interest rates on Standard Chartered Personal Loan start from 9.99% p.a. and can go up to 18.00% p.a., depending on the loan amount and the applicant’s creditworthiness.
Is collateral required to avail a Standard Chartered Personal Loan?
No, collateral is not required to avail of a Standard Chartered Personal Loan.
Can I prepay my Standard Chartered Personal Loan?
Yes, you can prepay your Standard Chartered Personal Loan, subject to certain conditions and prepayment charges.
What are the documents required to apply for a Standard Chartered Personal Loan?
The documents required to apply for a Standard Chartered Personal Loan include identity proof, address proof, income proof, bank statements, and passport-sized photographs.
Can I apply for a Standard Chartered Personal Loan online?
Yes, you can apply for a Standard Chartered Personal Loan online, from the comfort of your home or office, by visiting the bank’s website or using the mobile app.
Can I transfer my existing personal loan to Standard Chartered Bank?
Yes, you can transfer your existing personal loan to Standard Chartered Bank, subject to certain conditions and approval from the bank.
How long does it take to get a Standard Chartered Personal Loan approved and disbursed?
Standard Chartered Bank offers quick loan approval and disbursal, with funds being credited to the customer’s account within 2-3 working days, subject to verification and approval of documents.
