Standard Chartered Bank Loan Against Property

Standard Chartered Bank offers Loan Against Property with loan amounts of up to Rs 10 crore and repayment tenures of up to 15 years. Additionally, the lender provides a balance transfer facility along with top-up options to its Loan Against Property applicants.

Standard Chartered Bank LAP Highlights
Interest Rate As per the applicant’s credit profile
Processing Fees Up to 1% of loan amount
Loan Amount Up to Rs 10 crore
Tenure Up to 15 years
LTV Ratio Up to 70% of property’s market value

Standard Chartered Bank Loan Against Property Interest Rates

Standard Chartered Bank has not disclosed the interest rates offered to its Loan Against Property applicants. However, the lender may consider factors such as monthly income, credit score, tenure, employer’s profile, etc., while setting its loan against property interest rates, similar to many other lenders.

Also read: Best Loan Against Property Interest Rate

Compare Interest Rates on Loan Against Property for Top Banks & HFCs

Name of the Lender Interest Rate (% p.a.)  
State Bank of India 10.00 - 11.30 Apply Now
Axis Bank 10.50 - 10.95 Apply Now
Bank of Baroda 10.85 - 16.50 Apply Now
ICICI Bank 10.85 - 12.50 Apply Now
Standard Chartered Bank Starts from 9.25% Apply Now
HSBC Bank 9.75 - 14.00 Apply Now
Union Bank of India 10.45% - 13.10% p.a. Apply Now
PNB Housing Finance 9.25 - 15.00 Apply Now
IDFC First Bank 9.00 - 16.50 Apply Now
HDFC Bank Limited 9.50 - 11.00 Apply Now
L&T Housing Finance 9.50 onwards Apply Now
LIC Housing Finance 9.50 - 11.55 Apply Now
Godrej Housing Finance 9.75 onwards Apply Now
Indiabulls Finance 9.75% p.a. onwards Apply Now
Tata Capital 10.10 onwards Apply Now
Bajaj Housing Finance 9.75 - 18.00 Apply Now
Punjab National Bank 10.40 - 12.75 Apply Now

Features of Standard Chartered Bank Loan Against Property

Purpose: The main objective of Standard Chartered Bank's loan against property is to provide finance to individuals for various financial goals and requirements. Both residential and commercial properties are accepted as collateral by the bank.

Loan Processing: No hidden charges are levied on processing the loan, and all charges are communicated upfront.

Customised Loan: Self-employed professionals can customize their loans based on their needs, facilitating easier repayment and business management.

Prepayment Charges: Up to 4% of the outstanding loan amount is levied for prepayment, which can be done only after six months of taking the loan.

Processing Fee: A processing fee of 1% of the loan amount is levied, and all charges are communicated upfront.

Overdraft Facility: Borrowers can avail an overdraft facility against the property, allowing them to use the loan amount up to an approved limit and pay interest only on the amount used.

Loan Amount: Borrowers can receive up to 70% of the property's value at attractive interest rates.

Repayment Options: Customers have the flexibility to choose between low EMIs and longer tenure or opt for an overdraft facility on the loan against property.

Also read: Best Loan Against Property EMI Calculator

Standard Chartered Bank LAP Fees and Charges

Particulars Charges
Processing Fee Up to 1 % of loan amount
Pre-closure Fees 4% of outstanding principal
Part prepayment fees

For part prepayment:

  • If the amount is less than 25% of the outstanding principal: NIL charges apply.
  • If the amount is greater than 25% of the outstanding principal: A fee of 4% of the entire amount being paid is applicable.

Standard Chartered Bank Loan Against Property Eligibility

Standard Chartered Bank offers loan against property to both salaried and self-employed applicants. While the bank has not disclosed its loan against property eligibility criteria in detail, it may consider factors such as age, monthly income, and credit score of its applicants while evaluating their eligibility, similar to other lenders.

Also read: Best Loan Against Property Eligibility

Documents Required for Availing Standard Chartered Bank Loan Against Property

The list of documents required to avail LAP from Standard Chartered Bank includes:

  • Identity Proof
  • Address Proof
  • Age Proof
  • Income Documents:

For Salaried Individuals:

  • Latest Form 16
  • Salary slips for the last 2 months
  • Bank statement for the last 3 months

For Self-employed Individuals/Professionals:

  • Bank statement for the primary account for the last 6 months
  • Partnership deed for partnership firms
  • IT returns for the last 2 years and income computation of firms and individuals
  • P&L statement for the last 2 years, balance sheet, Capital Account Statements certified by a CA
  • Audit reports for the last 2 years (for self-employed: turnover above Rs 1 crore; for self-employed professionals: gross receipts above Rs 25 lakh)
  • For private limited firms: list of directors, shareholding patterns, and Memorandum and Articles of Association attested by CA

Property Documents required for LAP from Standard Chartered Bank:

  • Sanction letter of existing home loan
  • Copy of property papers (first and last page self-attested)
  • Other declarations of existing loan
  • Original list of documents held by the Competitor bank
  • Latest outstanding of the loan sought to be bought over

Also Read : Best Loan Against Property Documents Required

Frequently Asked Questions

Yes, you can make part-prepayment, and no charges are levied on the floating interest type.

Yes, you will be charged a penalty of 2% of the EMI amount.

Yes, you can avail an overdraft facility against your property as a term loan.

The interest rate starts from 9.25%

Self-occupied residential properties and commercial properties such as shops and offices are accepted as security or collateral.

You can receive a loan amount of up to 70% of the property's value.

Yes, you can close your account by submitting a written request to the nearest Standard Chartered Bank branch. There may be a small fee as a penalty for prepayment, which varies based on the loan amount and interest type.

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