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With Home Saver, your home loan can now be much lighter on your pocket.

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With Home Saver, your home loan can now be much lighter on your pocket.

Now pay your home loan in half the time and at half the cost

A unique financing solution that allows you to pay back your home loan faster.

Features

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You can contact us via 24x7 Phone banking helpline and through our wide network of branches.

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Fees and charges

 

Details
Charges
Processing fees Up to 1% of the sanctioned amount.
Part pre-payment fees NIL part pre-payment charges on floating rate loans to individuals.

For other* categories of loans:

Home Saver

• NIL for part pre-payments less than 25% of the principal outstanding in a calendar year.

• For part pre-payments greater than 25% of principal outstanding in a calendar year - 2.5% of the entire amount being paid.

Loan against property

• NIL for part pre-payments less than 25% of the principal outstanding in a calendar year

• For part pre-payments greater than 25% of principal outstanding** in a calendar year - 4% of the entire amount being paid

*Includes fixed / semi-fixed rate loans, and loans to non-individuals also.

**Here principal outstanding refers to the principal outstanding at the time of closure, as well as the amount part pre-paid in the same calendar year which has not been charged.

Pre-closure fees NIL foreclosure fees on floating rate loans to individuals.

For other* categories of loans:

Home Saver

• 2.5% of the principal outstanding.

Loan against property

• 4% of the principal outstanding**

*Includes fixed / semi-fixed rate loans, and loans to non-individuals also.

**Here principal outstanding refers to the principal outstanding at the time of closure, as well as the amount part.

Click here for more details on all other applicable fees and charges.
The table and graph below show how you can save on interest costs as well as shorten the tenure on your loan by opting for HomeSaver:
Normal Home Loan
Home Saver
Loan Amount 10,000,000 10,000,000
ROI 10.50% 11%
Loan Tenure (months) 240 240
EMI (INR) 99,838 103,219
Initial Deposit NA 1,000,000
 Monthly savings deposited in HS a/c  NA  35,000
 Total interest repaid (INR)  13,961,117  6,415,525
 Savings on interest (INR) -  7,545,592
 Actual repayment period (months)  240  120
Tenure reduced by (months) - 120
The rates used above are just for demonstration purposes
The interest rate applicable to your loan will be specified in your Sanction letter
Savings compared to normal Home Loan

Savings on interest: 54%

Reduction in tenure: 50%

Documents

Documents Required for Salaried / Self Employed

  • Photo identity
  • Proof of residence
  • Proof of age
  • Financial documents required (self-attested)
    • Salaried individuals –
      • 2 months salary slip (If variable components present in salary structure)
      • Latest year Form-16
      • Bank statements for the last 3 months
    • Self-employed individuals / professionals –
      • Latest 2 years IT returns and computation of income (firm and individuals)
      • Latest 2 years P&L statements, balance sheets (along with all the schedules) and capital account statements, certified by a C.A
      • Latest 2 years audit reports
    • [For self employed : Turnover > 1,00,00,000;  For self employed proffesionals : Gross receipts > 25,00,000 ] and bank statements of the primary bank account for latest 6 months.
    • For partnership firms: partnership deed is required.
    • For private limited firms:
      • Shareholding pattern or memorandum and articles of association, attested by a C.A.
      • List of directors.

Documents pertaining to your property

  • Documents pertaining to your property / others (self-attested)

    Property paper copies ( first and last page to be self attested )

    • Existing home loan facility details
      • Sanction letter
      • Original list of documents
      • Latest outstanding of the loan sought to be bought over.
      • Note: Original list of documents and latest outstanding of the loan sought to be bought over can be provided prior to disbursal
    •  Other existing loans declaration.

    The above list of documents is an indicative list and is acceptable based on Standard Chartered Bank’s existing policy, as applicable at the time of loan application. For more details you can speak to your relationship manager (RM) or visit the nearest branch

Terms and conditions