Benefits

Features of Standard Chartered Saadiq Home Finance

building home

You can purchase a new home, or renovate / extend your existing home.

money dollar

Saadiq MortgageOne is a unique home finance linked to a deposit account, with which you can save on rental expense.

money capital appreciation

Top up your existing home finance at Standard Chartered Bank and avail additional funds for home renovation or extension.

money fund transfer

Transfer your home finance from other financial institutions to Standard Chartered Bank at Zero processing fee!

money overdraft facility

Finance facility under the concept of “Shirkatul Melk”, approved by our independent Shariah Supervisory Committee.

misc protection

You can choose your property from our list of approved projects, developed by some of the most renowned developers.

Saadiq Mortgage Calculator

Please fill in the following information for an estimation of your repayment amount. The Approximate Monthly Repayment figure for Standard Chartered Saadiq Home Finance is indicative and is not meant to be final or binding on the Bank. The Bank reserves the right to determine the final rent rate in accordance with applicable laws and amount that can be borrowed.

Amount of Financing

    • 2000000
    • 20000000

    Please enter an amount between BDT 2,000,000 and BDT 20,000,000

    Finance Tenure

    years
    months

    Please enter a Tenure less than 20 years.

    Rent Paid Comparison
    Tenure (in Months) Total Rent Paid Outstanding Mortgage

    The Approximate Monthly Repayment figure for mortgage is indicative and is not meant to be final or binding on the Bank. The Bank reserves the right to determine the final interest rate in accordance with applicable laws and amount that can be borrowed.

    Monthly Payment
    Total Rent

    Age of applicant

    • Minimum age at the time of finance application: 25 years
    • Maximum age at end of finance tenure: 70 years (depends on client segment)

    Eligible client segments

    • Salaried executives
    • Business persons
    • Self-employed professionals
    • Doctors

    Applicants must have a steady source of income from employment / business / self-employment activity.

    Applicants must have aggregate 3 years of experience.

    However, only for or Employee Banking clients, 1 year experience will suffice if customer has proven finance / credit card repayment track of at least 12 months, and applies for the finance along with a co-borrower who has an independent income source.

    Customer location

    • Dhaka (including Narayanganj)
    • Chattogram
    • Other areas with Standard Chartered Branch coverage may be considered

    Property location

    • Dhaka (including Narayanganj)
    • Chattogram
    • Sylhet (Home renovation / extension finance only)

    (Adjacent areas included)

    Minimum monthly net income: BDT 78,000

    Mandatory documents for all clients

    • National ID Card
    • Passport size photograph
    • e-TIN Certificate

    Income documents for salaried clients

    • Original Letter of Introduction (salary certificate)
    • Latest 6 months’ bank statement with salary reflections.

    Documents for Businessman / Self employed clients

    • Updated Trade License with proof of last 3 years business experience
    • Partnership Deed /RJF certified with form1
    • RJSC certified certificate of incorporation, MOA / AOA, form X / XII / 117 (as applicable)
    • Business supporting documents like work orders

    * Bank may ask for additional supporting documents if deemed necessary.

    Maximum finance tenure

    • Businesspersons: 120 months
    • All other segments: 300 months

    Age of applicant

    • Minimum age at the time of finance application: 25 years
    • Maximum age at end of finance tenure: 70 years (depends on client segment)

    Eligible client segments

    • Salaried executives with a valid work permit.

    Applicants must have aggregate 3 years of experience.

    Co-applicant is mandatory for financing Non-Resident Bangladeshis (NRB). Where co-applicant is also a NRB, a local guarantor will be required for managing any post disbursement activities including collection, insurance renewal, security documentation, etc. The guarantor must be an immediate family member (father, mother, brother, son, daughter, spouse). The guarantor/local co-applicant must be located in Dhaka or Chattogram.

    Customer location

    • UAE, India, Bahrain, Qatar, Jordan, Oman, Singapore, Malaysia, Indonesia, Hong Kong, Vietnam & South Korea

    Property location

    • Dhaka (including Narayanganj)
    • Chattogram

    (Adjacent areas included)

    The property must be in the name of the non-resident or in joint name with the non-resident applicant.

    Minimum net monthly net income: USD 3,500 (or equivalent)

    Mandatory documents

    • National ID Card
    • Passport size photograph
    • e-TIN Certificate
    • Valid work permit
    • Letter of Introduction (Salary certificate)
    • 6 months bank statement as proof of salary relationship.

    The following documents will need to be collected for providing the finance. The documents will need to be verified by concerned Embassy/High Commission of Bangladesh in the country of the non resident, and duly attested by foreign Embassy.

    Maximum finance tenure

    • Salaried segment: 180 months

    No. You can only purchase residential properties with Saadiq Home Finance.

    Co-borrowers for the home finance can only be from your family i.e. spouse, father, mother and son only.

    Co-Applicant is mandatory for all home finance applications.

    However, if Primary applicant is both the “Property owner” & “Financially eligible person”, and there is no co-applicant, then primary applicant needs to provide 2 personal guarantors (1 immediate family member and another from anyone meeting guarantor criteria). However, if client is an Employee Banking Client / Doctor, then 1 personal guarantor from immediate family member is required.

    The rent rate is computed on a monthly basis (360 days). Rent rate applicable for this facility is variable. The rate is linked to the average rate of 182-Day Government Treasury Bill and Bank’s current rate matrix applicable for Saadiq Home Finance and is published in line with Bangladesh Bank guidelines.Your Saadiq Home Finance rental rate will be reviewed every 6 months from the date of disbursement, based on the movement of the average rate of 182-day Government Treasury Bill rates. However, in order to protect from rate volatility arising from fluctuation in Government Treasury Bill rates, and in line with BRPD Circular No. 3 dated 24 February 2020, the rate will be aligned to that published by the bank in the rate matrix and also reported to Bangladesh Bank for the month of re-pricing.

    To apply for a Saadiq Home Finance, please contact your nearest branch of Standard Chartered Bank, or call our 24 hour client care centre at +8802 8332272, or 16233 (from mobile).

    You can also speak directly to any of our Home Finance Sales Team Managers at the following numbers:

    Disclaimer

    This information is neither an offer to sell, purchase or subscribe nor a solicitation of such an offer. This information is general and does not take into account a person’s individual circumstances, objectives or needs. Please visit any of our branches or contact your relationship manager to make an appointment.

    Saadiq Home Finance Buy your dream home using our smart and flexible home finance with unique features and unrivalled level of service.

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