You can negotiate housing loan interest rates while borrowing a home loan from Standard Chartered bank if you are an existing customer or have a long-standing relationship with the bank. In all other cases, here are some of the tips that you can use while negotiating housing loan interest rates with Standard Chartered bank:
- Negotiate with a high credit score – With a higher credit score, you can negotiate better loan terms with the bank. The higher the credit score, the lower the interest rate expected from banks.
- Salaried woman as co-applicant – Standard Chartered bank may offer lower interest rates to applicants who are female and salaried. Thus, if you want low rates, you can make a home loan application with a salaried woman.
- Preferred employers – The bank may offer lower rates to employees who are working with a reputed organisation that is part of the bank’s preferred employer’s list. Thus, if you are working with one of the preferred employers, the bank may be willing to negotiate interest rates on home loans.
- Lower age of applicant – The lower the age of the applicant (as long as it is above the minimum threshold age) the higher the chances of availing a reasonable interest rate on a home loan from Standard Chartered bank.
Getting a home loan from Standard Chartered bank can be beneficial as the bank offered competitive interest rates and offers many other flexibilities as part of the loan terms. Fetching a lower interest rate from the bank depends on how creditworthy an applicant is and the relationship with the bank.