Allow your property to fulfill your dreams with Standard Chartered Loan against Property
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Details
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Charges
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| Processing fees |
Up to 1% of the sanctioned amount |
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Part pre-payment Fees |
NIL fees on floating rate loans to individuals. For other* categories of loans: Home Loans • 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. |
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Pre-closure Fees |
NIL fees on floating rate loans to individuals For other categories of loans: Home loan – 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. |
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Others |
Salaried Individuals – 2 months salary slip (If variable components present in Salary Structure) and Latest year Form-16 and Bank statements for the last 3 months.
Self-employed Individuals / Professionals .
Latest 2 years IT returns and computation of Income (firm & individuals)
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Latest 2 years P&L statements, Balance sheets (along with all the schedules) and Capital Account Statements, certified by a C.A.
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Latest 2 years Audit Reports. [For Self Employed : Turnover > 1 Crore ; For Self Employed Proffesionals : Gross Receipts > 25 Lakh ]
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Bank statements of the Primary Bank Account for latest 6 months.
For Partnership firms:
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
Loan Against Property loan(LAP) is availed against a property already owned by the individual. The funds borrowed in a loan against property loan are availed for personal uses.
Loan Against Property can be availed by both salaried and self employed customers.
Processing fee of 0.50% + GST of the loan amount is applicable for loan against property loans.
Application Form, KYC documents , Income documents – ( 3 month Salary Slip & Latest Form 16 / Latest two years ITR ) , bank statements of last six months & property documents**
Loan Against Property loans can be availed for a maximum tenure of 15 years.
Loan Amount upto 10 Crores.
