Loan Against Property By Standard Chartered Bank

Features For Loan Against Property By Standard Chartered Bank

  • Borrow against property

    The Loan Against Property allows you to borrow up to 70% of the value of your property

  • High loan amounts

    Standard Chartered will extend loans up to a maximum value of Rs. 10 crore

  • Long-term solution

    You can borrow money for up to 15 years with Standard Chartered Loan Against Property

  • Attractive interest rates

    Standard Chartered offers highly competitive interest rates for the Loan Against Property

Additional Features For Loan Against Property By Standard Chartered Bank

  • Quick turnaround time 
  • We guarantee to make a decision about your Business Instalment Loan application within 5 business days**. If we do not meet this guarantee, we will refund you Rs. 500 per business day of delay up to a maximum of Rs. 5,000*

*Conditions apply

**Conditions apply. Rs. 500 per business day refund is only for approved cases

 

FAQs of Loan Against Property By Standard Chartered Bank

 

    • How do I apply for a Loan against Property?
      You can apply for a Loan Against property in the following ways:
      • Online Application Form and our representative will get in touch with you.
      • SMS LAP to 5757505
      • Give a Missed Call to 022-39386825
      • Call on one of our customer care number- 39401616 / 66011616, add city code before number
      • Write to us at sme.customercare@sc.com
      • Visit your nearest SCB Bank branch
      • If you are a Liability customers you may also get in touch with your Relationship Managers to know more and apply for a LAP
    • What is the interest rate on the facility?
      • We offer both attractive variable as well as semi fixed interest rates on the facility depending on loan amount, credit assessment and other parameters.
      • Pricing Grid: Indicative rates effective January 2014*

      Rate Type
      Product Type
      Rate

      Variable - Non PSL Profile
      SME LAP
      12.25%

      Variable - PSL Profile
      SME LAP
      12.00%

      Terms and conditions apply.
      *The above rates are subject to revision from time to time and at the discretion of Standard Chartered Bank.

    • What are the different types of programs / products**?
      We offer:
      • Loan against multiple property type residential - self occupied or rented as well as commercial property- premise or a shop
      • Loan for commercial purchase
      • The above variants can be taken as a normal LAP term loan or as a LAP saver facility
    • When can I avail for a line increase on my existing loan?
      • Incremental funding option post 6 months of clean repayment
    • What are the benefits of taking a LAP from SME banking Standard Chartered?
      We offer:
      • Attractive semi fixed/variable interest rate, multiple property type loan against property (residential- self occupied or rented /commercial –premise or a shop)
      • Attractive loan variants having substantial interest saving option -LAP savers
      • Bundled credit card offering
      • Opportunity to avail gamut of SME offerings i.e. Business Banking products, Trade & Working Capital solutions, Forex and Cash Management offerings
      • Opportunity to qualify for SME Elite Privileges
    • Rating parameters of the bank’s credit risk models: 
      Internal rating scorecard is used for selecting eligible customers. It is based on a combination of parameters:
      • Loan Repayment Track
      • Credit Performance / Credit Bureau Update
      • Debt servicing ability of the customer
      • Business Vintage
      • Financial Ratios
      • Existing Relationship
      • For whom is the Loan Against Property useful?
        • Sole proprietors / proprietorship firms
        • Partnership firmst
        • Private-limited companies
        • Closely-held and public-limited companies
      • What is the maximum tenure of the loan?
        The maximum tenure for which you can avail the facility is up to 15 years
      • What do I need to give as security?
        We accept both residential and commercial property as security. No plot or under construction properties will be allowed
      • Can I prepay my loan?
        Pre-payment is not permitted in the first 12 months of the loan. You can pre-pay your loan with pre-closure charges of 2% of the outstanding at the time of closure (service tax will apply additionally)
      • Can I part prepay my loan?
        You can part prepay your loan with pre-closure charges of 2% of the amount being part prepaid (service tax will apply additionally)
      • What is the minimum and maximum annual turnover eligibility?
        • Minimum turnover of Rs. 90 lakhs
        • Maximum turnover of Rs. 168 crores
      • What are the basic documents required for applying for the facility?
        • Bank statements for the last 6 months
        • 2-year financials including Profit & Loss (P&L) statement, balance sheet and income tax returns
        • Documents related to establishment of entity, identity and address proof documents
        • Specific details would be provided by the sales officer
      • What is the turnaround time for the disbursal of the loan?
        Disbursal of the loan will take a minimum of 5 working days from the time of submission of loan related documents as requested by the bank

We've been in India for over 150 years

We're India's largest international bank with 99 branches in 42 cities, and we've been operating here since 1858.

Our Customers and Clients Come First

We use our global capabilities and deep local knowledge in India to provide a wide-range of products and services to meet the needs of our individual and business customers.

We build our products and services around you and have a number of commitments to help ensure that our customer have the best possible experience with us. View our service commitments.

Our Sponsorships

We're proud sponsors of:

  • The Standard Chartered Mumbai Marathon - title sponsor for the last ten years
  • Asia Cup - official partner of the bi-annual cricket tournament
  • The Economic Times Awards for Corporate Excellence - title sponsor from 2012 to 2016
  • Liverpool Football Club - our four year sponsorship started in June 2012.

Our Awards

Our products and services are often recognised by industry leaders. Here are a few of our recent awards:

  • Best Foreign Bank 2012 - Bloomberg Financial Leadership Awards
  • Financial Advisor of the Year Award 2012 - UTI CNBC
  • Best Private Bank in India by the Asian Private Banker at the Awards for Distinction 2012.

Our Listings and Subsidiaries

Standard Chartered PLC, our UK based parent, became the first foreign company to list in India through the issuance of Indian Depository Receipts in June 2010.

We also have a number of subsidiaries operating in India:

  • Standard Chartered Securities (India) Ltd, the vehicle for the equities business
  • Standard Chartered Private Equity Advisory (India) Private Limited
  • Standard Chartered Investments and Loans (India) Limited
  • Standard Chartered Finance limited and SCOPE International.

Loan Against property lets you unlock the full potential of your property, and use it to build a bigger life for yourself. Whether your property is residential, industrial or commercial, a loan against property will ensure maximum finance, taking care of your unique needs as either a salaried or self-employed individual. At My Loan Partner, we help to unlock the wealth in our client's real estate assets.

Your loan application is now a very simple process as never before and we will get your loan approved asap.

We have multiple options of financial institutions to provide various types of financial services to our esteemed customers at their doorsteps at competitive rates.

We are thus providing a list of documents which are required from your side to get your loan approved from the respective banks and financial institutions.

List of documents for Salaried persons
. Proof of Identity:- Passport/Driving Licence/Voters ID/PAN Card(any one).
. Proof of Residence:- Leave and License Agreement/Utility Bill(not more than 3 months old)/Passport(any one).
. Latest 3 months Bank Statement(where salary/income is credited).
. Salary slips for last 3 months.
. 2 Passport Size Photographs.

List of documents for Self-Employed
. KYC Documents:- Proof of Identity;Address proof;DOB proof.
. Proof of Residence:- Leave and License Agreement/Utility Bill(not more than 3 months old)/Passport(any one).
. Income proof(audited financials for the last two years).
. Latest 6 months Bank statement.
. Office address proof.
. Proof of residence or office ownership.
. Proof of continuity of business.

Interested? Please leave your details and we will contact you soon