Standard Chartered Bank Loan Against Property (LAP)
- Interest Rate starting from 10.10%
- Loan Amount Rs.10 lakhs to Rs.5 crores
- Processing Fee up to 1.00% of loan amount
- Maximum Tenure is 15 years
- Loan to Value Ratio up to 70%
- Prepayment, Foreclosure Charges zero for floating rate loans
- Age 21-60 years for salaried and 21-65 years for self-employed individuals
Standard Chartered Bank offers customers Loan Against Property (LAP) or Mortgage Loan starting at 10.10% interest rate. Standard Chartered LAP is available to both salaried and self-employed borrowers for purposes ranging from covering medical bills, education expenses, business costs, etc.
| Standard Chartered Bank Loan Against Property (LAP) Summary | |
|---|---|
| Interest Rate | 10.10 onward |
| Loan Amount | Rs.10 lakhs to Rs.5 crores |
| Processing Fee | Up to 1.00% |
| Maximum Tenure | 15 years |
| Loan to Value Ratio | Up to 70% |
| Prepayment, Foreclosure Charges | Zero charges for floating rate loans |
| Age | 21-60 years for Salaried, 21-65 years for Self-Employed |
Note : The above rates are subject to change at the discretion of the banks or on the basis of RBI directives.
Eligibility Criteria for Standard Chartered Bank Loan Against Property
To avail of a Standard Chartered loan against property,
- be salaried or self-employed between the ages of 21 and 60 years.
- have a credit score of 650 and above.
With Fincity’s loan against property calculator, it’s easier than ever to check your mortgage eligibility in seconds.
Simply enter a few basic personal and salary details, property information and mortgage requirement details to find out your eligibility in minutes.
Standard Chartered Bank Loan Against Property Interest Rate
The Standard Chartered LAP interest rate generally ranges between 10.10% and 10.20%, but the actual interest rate an applicant will qualify for will be decided by the bank based on factors such as their age, income, debt and financial obligations, credit history, loan amount, property type and value.
Note :The above rates are subject to change at the discretion of the banks or on the basis of RBI directives.
Standard Chartered Bank Processing Fee and Other Charges
Here’s a list of the processing charges a borrower can expect when they apply for a Standard Chartered LAP.
| Particulars | Amount |
|---|---|
| Processing Fee | 10.55% to 14.30% per annum |
| Foreclosure Charges | Individual borrowers = Rs.0 Others = Up to 4% of outstanding balance |
| Legal/Technical Charges | As per Actual |
Note :The above rates are subject to change at the discretion of the banks without prior notice.
Standard Chartered Loan Against Property EMI Calculation
It’s important that you evaluate and compare all your LAP options and then shortlist the ones that make repayment easy. For a quick check on EMI schedules for each scheme, use the Fincity Loan Against Property EMI calculator and for details on the terms, you can always reach out to our loan experts at lap@fincity.com.
Documents Required for a Standard Chartered Bank Loan Against Property
Below is a list of documents required for a Mortgage Loan with Standard Chartered Bank.
| Salaried Individuals | Self Employed Individuals |
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Property documents
- Registered Sale Deed/ Conveyance/ Lease Deed
- Past Sale Deeds Chain (each transaction in respect of this property since first allotment
- Latest House Tax Return/ Receipt
- Approved Building Plan from Municipal Corporation
Note : Required documents must be self-attested and may slightly differ.
Standard Chartered Bank Loan Against Property Scheme Benefits
With Standard Chartered Bank LAP, you can opt for balance transfer and additional top-up loan against property. The loan processing is quick and hassle-free, and the documentation is simple.
Need help decided which mortgage loan is best for you?
Connect with our loan advisors at absolutely zero cost and have them assist you with the lowest-rate loans with terms tailored to your needs. Write to us at lap@fincity.com and finalize your dream mortgage now!