The interest offered by Standard Chartered bank on home loans starts at 7.99%. The interest rate applicable on home loans offered by the bank can vary depending on the loan amount and the applicants' risk profile.

What is the interest rate offered by Standard Chartered bank on home loans?

The table below reflects details on home loan offerings of Standard Chartered bank:

Particulars

Details

Interest rate

Starting at 6.99%

Loan amount

Up to Rs. 35 crores

Tenure

For salaried - Up to 25 Years
For Self-employed - Up to 20 Years

Processing Fee

Salaried applicant - 0.10% of the loan amount, minimum of Rs. 5,000 + GST

Self-employed - 0.20% of the loan amount, minimum of Rs. 5,000 + GST

Minimum upfront login fee

Rs. 5,000 + GST

What are the Standard Chartered Home loan fees?

The fees applicable on Standard Chartered home loans are:

  • Processing fee: The bank charges a non-refundable processing fee at the time of applying for a home loan. The fee is calculated at 1.00% on the total loan amount and the minimum amount is Rs 5,000 while the maximum is Rs 1,000 plus tax. In case a home loan application is not processed by the bank, the processing fee is reimbursed to the applicant post deduction of Rs. 2,000.
  • No foreclosure fees: Borrowers who wish to repay their entire home loan amount before the loan tenure ends can do so without any prepayment fees.
  • Miscellaneous charges: The bank levies other technical and legal fees on home loan applicants. This can include switch fees of 0.75% calculated on the principal outstanding, conversion fees of 1.50% calculated on the principal outstanding, and EMI cheque bounce fees of Rs. 495 per instance.