Q. What are the minimum and maximum loan amounts?
You can avail of loans ranging from Rs 30,000 to Rs 2 Million depending on your eligibility, income and repayment capacity
Q. What are the loan tenure options?
The loan can be repaid over a period of 12 to 60 months.
Q. Are there any additional charges?
A processing fee will be charged on the loan amount as follows:
- Up to 100k – 1500
- 100 – 250k – 2500
- 250k+ - 1% of loan amount
The requisite documentation charges is payable upfront. This fee will be deducted from the Loan amount at the time of disbursal.
Q. How much time will it take for my loan to be approved?
Your loan will be disbursed within 10 working days post receipt of the all required documents.
Q. Do I have to provide any security, collateral or guarantors?
No security, collateral or guarantors are required for obtaining a Personal Loan.
Q. What is EMI?
EMI stands for Equal Monthly Installments. This installment comprises both principal and interest components.
Q. How do I repay the loan?
You can repay the loan by depositing Equal Monthly Installments (EMI's) in your account prescribed account.
Q. Can I prepay my loan?
You can pre-pay your loan with early settlement charges as below, however, do ensure that you have infirmed he Bank for the processing of early settlement.
- 10% of amount prepaid if prepaid within 12 months
- 5% of amount prepaid if prepaid after 12 months.
Q. Do I need to open an account with Standard Chartered Bank for availing and/or servicing the loan?
Yes
Q. Do I get special privileges as a Standard Chartered Customer?
As a Standard Chartered Employee Banking Customer, you will be offered special mark-up rates, asked for minimal documentation and your application will be processed on priority
