When applying for a Standard Chartered Home Loan you need to take the following steps given below:

1. Submit the online Home Loan application form.
2. Required documents like KYC, Financial, and Property need to be submitted 
3. The bank then begins the processing of the loan along with legal and technical verification
4. The loan eligibility of the applicant is determined. After which Standard Chartered Bank will provide a sanction letter. It will include a few important details such as sanctioned loan amount, interest rate, loan tenure, type of interest rate applicable, EMI payable, validity of sanction letter, special conditions (if any), and other terms and conditions 
5. On submission of all the required documents and raising a home loan disbursement request, Standard Chartered Bank will initiate the process of issuing your home loan disbursement cheque 

There are a number of documents that you need to submit to apply for a Standard Chartered. They are given in the table below:

A couple of major reasons why you need to select Standard Chartered Bank Home Loan include attractive lowest interest rates and flexibility in tenure repayment. Also, this bank provides you with a 100% hassle free ‘Digital’ loan application system.

On applying for a Standard Chartered Bank Home Loan and submitting all the necessary documents, this bank will take about 4 to 7 working days to sanction a home loan and provide a letter.

If you want to secure a Standard Chartered Home Loan then you need a minimum CIBIL score of 750.

Usually, the maximum home loan sanctioned by Standard Chartered Bank is 35 crores, and the minimum loan amount is 10 lakhs.

No you do not need to have a co-applicant while applying for a Standard Chartered Home Loan. Moreover, if you do have one then it will only help in enhancing your loan eligibility, thereby proving to your lender your ‘Creditworthiness’ and chances to improve terms and conditions.

On securing a Standard Chartered Home Loan the chances that your rate of interest (ROI) will depend on the type of ROI you select. For example if you take a floating interest rate then there will be constant changes. However, if you opt for a fixed interest rate then there will be no changes.

When you have IT returns for three financial years to show it will help enhance your chance of securing a Standard Chartered Home Loan. However, you can still get a home loan despite not having IT returns for three financial years, provided you seek for a small loan amount and a good CIBIL score.

Usually, it takes Standard Chartered Bank about 4-7 working days to disburse a home loan.

Some other details about the Standard Home Loan you need to know about are given below: 

1. Different types of Standard Chartered Home Loans

   Typically, there are three types of Home Loans that Standard Chartered Bank provides. They are as follows: 

1. Home Saver:

   This Standard Chartered Home Loan type is a form of overdraft facility.  In this scheme along with a home loan account,  an overdraft account is opened.  

   The maximum and minimum loan amount this scheme provides is Rs 35 crore and Rs 10 lakh respectively. 

2. Home Loan:

   The Standard Chartered Bank provides for this regular home loan program for potential borrowers looking either to purchase/construct a home or renovate/extend an existing house.  

   This bank’s loan tenure is up to 25 years for a maximum and minimum loan amount of Rs 35 crore and Rs 10 lakh. 

3. Interest-only Home Loan:

   In this home loan scheme provided by Standard Chartered Bank borrowers are required to pay interest amount only during a specific ‘Interest Period’, which can be in the range of 12, 24, or 36 months.  

   A loan tenure of up to about 25 years is provided in the scheme. The maximum and minimum loan amount is Rs 3.5 crore and Rs 35 lakh respectively. 

2. Standard Chartered Home Loans Features:

   • Home loan refinancing 
   • Home Saver 
   • Home loan balance transfer 
   • Customized Home Loan solution