How Standard Chartered Home Loan Provides You The Best Home Loan Option?

Whenever an individual decides to opt for a home loan, the most important thing for that individual is the interest rate offered by the lender. It’s important that the interest rate you opt for must be low because it directly affects your repayment. Considering the number of people who don’t have their own homes, there are several lenders in our country that provide easy home loans to such customers. Standard Chartered is one of the leading private banks of our coutry that provide home loan facility to the customer for a wide range of solutions such as home improvement, home renovation, home purchase, and others.

The most amazing thing about the Standard Chartered Home Loan is the affordable interest rate offered by them. So if you are someone who is looking to achieve your long due dream of buying your own home, then this home loan option could be a good choice for you. In this article, we would be telling you about some of the top features of this facility by the Standard Chartered Bank so that you don’t have to think twice before opting for this.

Features of Standard Chartered Home Loan that make it Popular among Customers?

You can have a look at the features of this facility below.

• The first thing we would like to talk about the interest rate because this is the primary thing in any home loan facility. The rates start from 9.21% per annum when you opt for a Standard Chartered home loan. It depends on a lot of variables that’s why it tends to change from one lender to another.

• These factors are your age, property type, residing city, monthly income, employment type, job history, and most importantly, the CIBIL score. Your final rate of interest will only be decided after assessing these factors.

• Now coming to the loan amount, you could take upto a maximum of INR 35 crores. The minimum amount is fixed at INR 10 lakhs.

• Have you ever heard about the cashback in the home loan facility of any bank? Well, Standard Chartered gives you upto 2% cashback only if your repayment track is good and disciplined. The cashback will be credited to your savings account automatically.

• You can also choose the tenure period according to your repayment capability. The loan amount can be taken for a maximum period of 25 years.

• If you have already a home loan on your name and want to transfer it to the Standard Chartered, you could easily do it with the Balance Transfer facility at a reduced interest rate.

• You also have the option of opting for a co-applicant for your home loan. It can be your immediate relatives like spouse, parents, or children. You can even make your sibling as your co-applicant but it’s important for them to be the co-owners.

What is the Processing Fee on the Loan Facility?

Standard Chartered Home Loan may charge a processing fee ranging from 0.5% to 1% of the loan amount. It will also depend on the loan scheme you’ve chosen.

How can you apply for the Standard Chartered Home Loan?

There are multiple ways by which you can apply for this amazing facility. The easiest is to apply online. Just go to the official website and feed the required details and your application will be on the way. Apart from this, you can apply through phone banking, email or by visiting the nearest branch of you.