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 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
| 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 |
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
| Particulars | Charges |
|---|---|
| Processing Fee | Up to 1 % of loan amount |
| Pre-closure Fees | 4% of outstanding principal |
| Part prepayment fees | For part prepayment:
|
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
The list of documents required to avail LAP from Standard Chartered Bank includes:
For Salaried Individuals:
For Self-employed Individuals/Professionals:
Property Documents required for LAP from Standard Chartered Bank:
Also Read : Best Loan Against Property Documents Required
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.
