Standard Chartered Bank Personal Loan

Interest Rate starts from


Personal Loan from SCB

A personal loan can come in help for any kind of situation like marriage, vacation, festivals, medical emergency etc. ApnaLoanBazaar provides you the customized and personalized quote for Personal Loan at lowest interest rates from various banks.

Interest rate starts at

12.99 * %

Processing Fee

1.00% * of loan amount

Loan Tenure

upto 5 years

Guarantor Requirement



Not Allowed

Pre-closure Charges


About Standard Chartered Bank

Standard Chartered PLC is a British multinational banking and financial services company headquartered in London. It operates a network of more than 1,700 branches and outlets (including subsidiaries, associates and joint ventures) across more than 70 countries and employs around 87,000 people. It is a universal bank with operations in consumer, corporate and institutional banking, and treasury services. Despite its UK base, it does not conduct retail banking in the UK, and around 90% of its profits come from Asia, Africa and the Middle East.

Standard Chartered Bank is India's largest international bank with 99 branches in 42 cities, and this bank is been operating in India since 1858 In 1858, it opened its first branches in Calcutta, Bombay and Shanghai. Standard Chartered Bank is offering Credit Cards, Accounts & Deposits, Personal Loans, Against Securities, Against Term Deposits, Home Loan, Balance Transfer, Loan against Property.

Standard Chartered bank is Home Saver is a unique home loan that enables you to pay your home loan in half the time, at half the cost. A linked Transaction Account will be associated with your Home Loan. The surplus money in your Linked Transaction Account will be used to offset the principal of your home loan, which will result in faster closure of your loan. Effectively, interest will be paid only on the difference between the outstanding loan amount and your surplus funds.


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.

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.

FAQs About Standard Chartered Bank Personal Loan

  • You can avail of loans ranging from Rs 1,00,000 to 30,00,000 depending on your eligibility, income and repayment capacity.
  • The loan can be repaid over a period of 12 to 60 months tenors are only available for select profile of customers.
  • A processing fee of a maximum of 3% of the loan amounts and requisite documentation charges is payable upfront. This fee will be deducted from the Loan amount at the time of disbursal.
  • Your loan will be disbursed within 4-7 working days post receipt of the required documents.
  • No security, collateral or guarantors are required for obtaining a personal loan.
  • No security, collateral or guarantors are required for obtaining a personal loan.
  • EMI stands for Equated Monthly Installments. This installment comprises both principal and interest components. Please use the EMI Calculator to find out the EMI you need to repay.
  • You can repay the loan in Equated Monthly Installments (EMI's) using the ECS facility, or a direct account debit (only for Standard Chartered Bank Account holders).
  • You can pre-pay your loan with preclosure charges of 5% anytime after completion of 12 EMIs by giving the bank a 21 day notice.
  • We will encourage you to start a banking relationship with us so that we will be able to offer a host of other value added services, which are complementary to the loan, however opening an account with us is not mandatory.
  • As a Standard Chartered Customer, you will be offered special interest rates, asked for minimal documentation and your application will be processed on priority.
  • As a Standard Chartered Customer, you will be offered special interest rates, asked for minimal documentation and your application will be processed on priority.
Why Personal Loan from ApnaLoanBazaar?
Multi-purpose loan
No security or Collateral free
Fixed rate of Interest
Flexible tenures (6-60 months)
Quick and easy processing
Recommendable in emergency
Repayable in easy installments
Minimum charges applicable
No part payments allowed
Online application with less paper work.
Improvement in Credit Score
Age limits - 18 to 55 years
Starts from ₹50,000
Max loan amount up to ₹15,00,000
Repayment through ECS / Auto-debit / PDC
We support until Loan Closure

You are Eligible for Personal Loan if you are any of these

A Salaried Employee
A Self Employed Professional
A Self-Employed Individual
An Entrepreneur
Person should citizen of India and must be above 21 years of age to avail home loan. The maximum Age limit should be 55 years, and applicant should be fulfill Bank/Financial Institute eligibility criteria.

Personal Loan can be used for many purposes like below

Higher Education




Medical Emergency

Home Renovation

Consumer Goods

School Fees

Identity Proof for Standard Chartered Bank Personal Loan : (Anyone of the below)

Driving License
PAN card
Photo credit card (with embossed Signature and last two months statement)
Banker's sign verification 

Age Proof for Standard Chartered Bank Personal Loan : (Anyone of the below)

PAN Card
School leaving certificate
Voter card 
Birth Certificate
LIC policy (only for age Proof)  

Income Proof for Standard Chartered Bank Personal Loan: (Anyone of the below)

Latest salary slip
Current dated salary Certificate with latest form 16. 
Latest year IT Returns with Tax Audit reports(For Self Employed applicants) 

Job Continuity Proof for Standard Chartered Bank Personal Loan: (Anyone of the below)

Form 16
Relieving letter 
Appointment Letter (for last two months)
Last 6 months of VAT/Service Tax returns (For Self Employed Applicants)

Banking History for Standard Chartered Bank Personal Loan: (Anyone of the below)

Bank statements of latest 2 months
3 months bank passbook 

Why to Avail Standard Chartered Bank Personal Loans?

Multi-purpose loan
No security or Collateral free 
Fixed rate of Interest
Flexible tenures from 6 months up to 60 months based on the profile of the customer.
Quick processing and recommendable in emergency
Loan payable (Repayment) in easy installments
Repayment through ECS / Auto-debit / PDC
Applicable charges- Processing fee, Pre payment charges and delay charges
No part payments allowed
Online application with less paper work.
Credit score can be improved on complete payment without any delays
Age limits - min 18 years to max 55 years
Online application with less paper work.
Min loan amount 50,000
Max loan amount up to 20,00,000

Expert Advice

Best Practices for Standard Chartered Bank Personal Loan

Clear Identification of purpose and planned Budget.
Cost - benefit analysis
Peer comparison- ROI, PF and other charges and repayment tenor (shop around)
Know your credit history score and eligibility
Plan the repayment from the regular incomes than from futuristic/speculative income.
Check various other alternatives before availing a personal loan.n
Be clear on payment date and mode of payment like ECS, Online payments, Post dated cheques.
Terms and conditions to be clearly understood before signing up the agreement.
Take payment protection insurance
Ensure proper updation of contact details.

Things not to do for Standard Chartered Bank Personal Loan

Do not jump to apply a loan do the necessary homework
Do not borrow more than what is required.
Do not apply loan at too many places at a time.
Do not sign personal loans for others
Do not sign the terms and conditions without reading
Do not rush with the process.

Factors that affect interest rates on Standard Chartered Bank Personal Loan

Banks charge a different rate of interest depending on a whole host of factors. The interest rate can broadly vary between 14 - 24%. We take you through three such individual details that can affect the rate of interest charged by the bank.

1) Credit/CIBIL History:-
 If you have good credit/CIBIL record then banks will definitely award you with a better rate of interest. This means that if you have taken a loan previously and managed to pay it off without defaulting then you will have a high credit/CIBIL score. Apart from the loan the banks also take into account payment of your credit card bill record.
2) Nature of Employment:-:-
The nature of your job also plays a crucial role in determining the interest rate. Banks have different checks in place if you are a salaried individual vis-à-vis a self employed person. So if you are working with a reputed organization then banks will be able to extend a cheaper rate of interest. But if you are working with an organization that is not very well known then a higher rate will be charged. In case you have your own business then banks will give you a loan even if you are in an advanced age. On the other hand in case you are a salaried employee then a loan will not be extended if you are nearing the age of retirement.
3) Bank-Customer relationship:-:-
If you approach the bank where you already have a bank account and you are a valued customer then banks may give you certain leeway. This mean you can negotiate with the bank for a cheaper interest rate. Most banks agree to give a concession of 0.5-1% on the interest rate. So next time you go around shopping for a personal loan, remember that these three points will affect the amount that the bank sanctions and the interest rate that it is levied. In the next article we will cover more points that affect interest rates on personal loan. So stay tuned!

Standard Chartered Bank Personal Loan Advantages and Disadvantages

Standard Chartered Bank Personal Loan Advantages:

A) Easy availability:
 A lot of banks offer personal loans of various amounts and durations. You can pick and choose between them.
B) No collateral:
Personal loans are not very large amounts. They rarely exceed Rs. 4 lakhs. So there is no need to put up security or collateral against personal loan.
C) No criteria:
You can opt for a personal loan without having to explain to the bank why you need it. You can take a personal loan for any purpose including travelling, home repairs, medical emergencies.
D) Quickly available:
If you have a relationship with a bank you can get a personal loansanctioned within 24 hours. Personal loans also require very little paperwork.
E) Improves credit history:
If you regularly pay your EMIs on time then personal loans are a great way to improve your credit record. An improved CIBIL credit record can be very beneficial when you are looking for a new loan.

Standard Chartered Bank Personal Loans Disadvantages:

A) High interest rates:
 After credit cards, personal loans have the highest interest rates among credit products. Sometimes personal loans have higher rates than credit cards also.
B) High pre-payment penalty:
If you pre-pay your personal loans, banks often charge a high penalty.
C) Need good credit history:
Today, most banks give personal loans only to people with a good credit history. If someone regularly takes personal loans, he may be seen as someone who is not careful with his finances.
D) Affects credit report: 
If you default on your personal loan your CIBIL credit report reflects it and your credit rating and credit score are affected.
E) Bad image:
If banks access your CIBIL credit report and see a large number of personal loans, you are seen as someone who constantly needs money and who is indiscipline.

10 Things to Keep in Mind While Taking a Standard Chartered Bank Personal Loan

A personal loan must be taken only for emergencies. These include medical emergencies, urgent repairs to your home or if you need to cover up a shortfall in an education loan or any other emergency needs.
Loans must not be taken for holidays, investing in stocks, buying expensive gadgets etc.
The amount you pay for a personal loanshould ideally not be more than 25 percent of your salary every month.
Flexible tenures from 6 months up to 60 months based on the profile of the customer.
Do your research before applying to a bank for a personal loan. Lots of banks have different rates of interest for different loans. (Check here)
Don't choose a flat rate of interest. Always choose an option that calculates interest on the reducing balance method.
Bargain with banks so that they don't charge you a pre-payment penalty charge.
Try and keep the loan term short, preferably 1-3 years.
Do not take too many personal loans as it reflects on your credit history.
Banks may tell you that you have been pre-approved for a personal loan and that you can get the loan cheaper than other customers. Check for it.
If you have a very large credit card debt (interest on credit cards is usually between 25%-30% percent for a month), you can take a personal loan to pay that off (interest on personal loans is between 13% -17% for a month).

Standard Chartered Bank Personal Loans Precautions

1. Clear Identification of purpose and planned Budget:  

One should have a clear identification of purpose of availing personal loan. Never opt for a personal loan only just because you can. Going for personal loan is a wise decision only in case of emergency and where the purpose is unavoidable. Apart from the purpose one has to also plan and budget the total requirement well in advance before applying for a personal loan.
Borrowing more than what is required leads to unnecessary debt. In certain instances borrowing far less than required amount may result in not serving the purpose. Therefore one has to make complete budget of the purpose and plan his / her borrowings accordingly. It is always to be noted that money one's spent is lost forever and unnecessary debt can lead to financial stress.

2. Understand the need Vs personal Loan:

Before opting for a personal loan one has make cost – benefit analysis of various kind of other loans which customer can get in the market. In case of emergency and unavoidable situations you can go for personal loan but where the purpose is to improve the life – like buying a fuel efficient car customer has to analyze the cost and benefits involved in the long run. In this scenario it is to be understood that in long run the benefits from purchase of new fuel efficient car should be greater than the interest charges and other costs involved in availing personal loan.

3. Check for Better rate:

Before availing a personal loan from any particular Bank/ NBFC customer has to compare interest payable and other charges to know the best annual percentage rates available in the market. Though the customer has a pre approved personal loan at a concessional rate with a particular Bank, he/ she might get the loan at a comparatively still lower rates with others. Therefore it is always better to check with 3-4 Banks before making the mindset to proceed with any one in particular. ApnaLoanBazaar will always provide the industry best rates, which are available in the Indian market. Check for Standard Chartered Bank Personal Loan Interest rates with ApnaLoanbazaar

Also the repayment tenure is other point to be noted before taking a loan. Eg: Some Bank's may offer maximum repayment tenor of 36 months whereas some others may offer maximum up to 60 months. Customer has to decide the repayments based on his income in consideration of his / her other obligations.

4. Credit scoring & Eligibility Criteria: 

Personal loans best feature is collateral free and quick loan process, Hence Bank/NBFC will carefully analysis of your credit history. Customers with good credit history score will have high bargaining power. Customers with moderate / Low credit history may end up taking loans at higher rate of interest and Banks will have advantage of it. Customers have to ensure that they do not have any overdue while going for a personal loan. It is advisable to clear the credit card outstanding and other loan overdue before going for a personal loan as it improves credit worthiness. It is to be noted that not only income of the customer but Leverage is considered for arriving the limits. Generally Bank/NBFC prefer the credit score is above 730 for funding the personal Loan.

ApnaLoanBazaar will help you to know your CIBIL(Credit) Score: Know your Credit Score here

5. Plan the repayment from the regular:

Customer has to be aware of repayment tenor, monthly repayment date, mode of payment and installment amount. Repayment tenor to be planned based on the income and obligations. Over burden of EMI may result in delay and sometimes even default of the loan amount. Customer shall not forget the repayment date and maintain sufficient balances in the account for meeting the EMIs. Payment of EMIs by way of ECS through account is preferable to avoid unintentional delays. Even online payment from account is a suggestible mode of payment. In case of salaried employees it is better to opt the monthly repayment date to be within first week of the month. In case of entrepreneurs/ Businessmen the EMIs are to be planned from their regular income than depending on some other futuristic/speculative sources.

6. Terms & Conditions:

All the terms and conditions to be read carefully, before sign the loan agreement. Terms in smaller font to be observe carefully. Payment terms to be noted and have to maintain sufficient balance in the account for meeting the EMIs. Check the correctness of the updated personal details. Mobile alerts, Email alerts will remind the due date of payment and confirm the receipt of amount. In his/ her busy schedule customer may forget the due date whereas these alerts will remind them and help in making the payments on time.

Other Important Points to be noted:

In general the larger the loan amount the lower the interest rate. In some instances you may save on borrowing slightly higher. Plan accordingly.
Do not make late payments; there is risk of delay charges and increase in annual rate. This will also affect your credit history.
Co-signing of any other individuals’ personal loan to be done with extreme caution because any default by them will affect your credit history.
Good payment track will improve the credit history and make you eligible for additional loans with lower interest rate benefits.

How we do it?


Discuss and Draft your Loan Requirements


Get your Personalized and Customized Quote


Solve Queries with your Own Relationship Manager


Enjoy our Pro Support until your Loan Closure

" Our team of experts will discuss your financial needs to define the best suitable loansolution to fulfil your requirement. Availing the services of our professionals will help to save your precious time and money. "
" Based on the discussions and reviewing various factors like your income, qualification, employer, location, existing loans etc we will provide you a personalised and customised quote which not only suits your requirement but also take care of your priorities. "
" Still having queries? No need to worry. You are important to us. A dedicated relationship manager will be available to assist you till the completion of the loan process to feel you relaxed. "
" I heard of some changes in the rate of interest of my loan. Who can help me to know the impact? We haven’t left you alone. We are still there to assist you with all loan queries till the loan closure. "