This is to inform that by clicking on the link, you will be leaving our www.sc.com/inand entering a website operated by other parties:

Such links are only provided on our website for your convenience and Standard Chartered Bank does not control or endorse such websites, and is not responsible for their contents.

The use of such website is also subject to the terms of use and other terms and guidelines, if any, contained within each such website. In the event that any of the terms contained herein conflict with the terms of use or other terms and guidelines contained within any such website, then the terms of use and other terms and guidelines for such website shall prevail.

Thank you for visiting our www.sc.com/in


Get maximum benefits out of a personal loan by understanding the basics concepts before applying.

Person, Human, Couch

Get maximum benefits out of a personal loan by understanding the basics concepts before applying.

Basics of a Personal Loan

Let nothing hold you back from the best that life has to offer! Whether you’re looking to travel, plan a wedding or even redesign your home, a Standard Chartered personal loan can help support your life aspirations like no other. Enjoy instant approvals on your loans, with attractive interest rates and flexible tenure options.

Important Concepts of a Loan

Before you apply for a personal loan from Standard Chartered, it is a good idea to become familiar with certain concepts like:


Each bank has a minimum income requirement for an applicant to be eligible for their loans. In the case of Standard Chartered, this amount is INR 22,000 per month. This criterion is important; the higher your income, the better your chances of acquiring a larger loan.


Standard Chartered requires personal loan applicants to be between 22 and 58 years of age. That said, persons who are closer to the lower limit in terms of age are more likely to enjoy long-term loans.

Secured/Unsecured loans

Secured loans require collateral or guarantors set in place before the loan can be approved. Unsecured loans, however, do not require any collateral and your credit score and income hold you in good faith with the bank. Personal loans at Standard Chartered are unsecured.

Credit score

Your credit score is determined by factors such as your credit history, payment habits, amount owed to the bank and so on. The minimum score you require to be eligible for a Standard Chartered personal loan is 650. A score of 700 or above is considered good.

Interest rate

Banks charge interest for personal loans that clients avail of. This rate can vary between banks, and also between loan applicants, based on how good their credit scores are. At Standard Chartered, you can enjoy interest rates as low as 11% per annum for your personal loan.


This is the time frame within which the loan amount can be repaid to the bank without incurring a fine. Standard Chartered’s personal loans have flexible tenures ranging from 12 to 60 months.

Equated Monthly Installments (EMI)

You can repay the bank for your personal loan in the form of EMIs as per your convenience. An EMI is determined by the principal amount borrowed, interest rate charged as well as the loan repayment tenure.

Types of Personal Loans by SC

Even the most diligent amongst us can sometimes be unprepared for life’s many surprises. When that happens, you can count on Standard Chartered’s personal loans to help you breeze right through any financial concerns, with complete confidence. Listed below, are some types of personal loans we provide:-

Marriage Loan

Begin your forever after on a magical note with the wedding of a lifetime. If your heart seeks extravagance, set your mind at ease with our personal loan for weddings. Standard Chartered’s interest rates and flexible tenures for repayment will keep you smiling for long after!

Travel Loan

Nurture your mind and soul with a trip to a global cultural destination or a visit to friends and family overseas. Our travel loans come with instant approvals on online applications that make everything simple.

Loan Against Securities

If you’ve ever wished for a simple, smooth way to manage your financial portfolio, then Standard Chartered’s loan against securities is the answer you’ve been looking for. Enjoy our high overdraft limit and economical approach, with interest charged only on utilization of funds.

Loan Against Term Deposits

The quickly accessible credit line, modest interest rates and flexible borrowing facility on our loan against term deposits, can give you the edge you need for your financial endeavors. Here too, interest will not be charged unless funds are utilized.

Payroll Overdraft Service

If you find yourself in a financial emergency, our payroll overdraft service can offer you an overdraft on your salary at easy interest rates. We even provide the option of recovery of funds from an alternate account at a later date, if required.

Features And Benefits Of Loans

A Standard Chartered personal loan is always an option worth considering. Here’s why:

  • Fulfill your life goals – Whether you are looking to buy a car, plan a wedding or pay your medical bills, a personal loan can give you plenty of leeway to make bulk payments without any stress.
  • Easy to access – You can apply for a personal loan by simply filling out an online application form from our website and uploading the required documents. Benefit from our instant approvals based on your eligibility status as well.
  • Loan amount – Avail of loan amounts starting from INR 1 lakh to INR 50 lakhs depending on your credit history and income. Standard Chartered has you covered all the way.
  • Flexible tenures – Personal loan tenures can be set anytime between 12 to 60 months, according to what works best for you. That means less stress and more comfort for you!
  • No physical interaction required – Get instant approval on your application and also complete your KYC online through a video. Learn more.

Points to Consider Before Applying for a Loan

We want what’s best for you too. Here are a few loan details to help you make informed decisions:

  • Credit score – Aim to have a good credit score of 700 and above before applying for a loan. Banks and lenders will want to look at your credit history which is essentially a documentation of your payment habits and pending dues up till date.
  • Interest rates – Be sure to check the interest rate on the loan you intend to apply for. Secured loans tend to have lower rates, but also require collateral, unlike unsecured loans. Interest charged can also differ based on the bank you choose and your eligibility profile.
  • Payment deadlines – Choose loans with repayment tenures that suit your financial capacity. You may be charged a penalty fee and processing charges by your bank, if you miss your payment deadlines.
  • Compare loans – Ensure that you are choosing a loan with EMI, interest rate and tenure that works to your advantage.

FAQs related to Personal Loan Basics

How is a Personal Loan Interest Rate Calculated?

Personal loan interest rate is typically calculated based on parameters such as credit history, monthly income, total amount borrowed, and the total repayment tenure.

How do I Check my Loan Status?

There’s more than one way to check your personal loan status.

Online mode :

  • Loan reference number – This number is specific to your loan and can be used to find out the status of your loan. You may also have to provide your date of birth as an added security measure.
  • Mobile number – Since your mobile number is unique, it can be used to track your status too. The advantage in this case is that you can track your application from anywhere, without having to memorise your reference number.
  • Net banking – If you login to your Standard Chartered net banking portal, you can track your application status at the loans section.

Offline mode :

  • Customer care – Contact our 24*7 available customer care and you will be informed of your loan status upon request.
  • Bank branch – You can also choose to visit the Standard Chartered bank branch in your city, where our bank representatives will walk you through all the details regarding your loan application. We are happy to answer any queries you might have as well.

What is the tenure for a Personal Loan by SC?

At Standard Chartered, you can benefit from flexible tenures on your loan repayment for up to 60 months. This facility is applicable regardless of whether you are a salaried or self-employed client.

How to calculate EMI for a personal loan?

The EMI for personal loans is determined by its principal amount and interest rate. It can be calculated by using the mathematical formula as follows:
P x R x (1 + R)^N ]/[(1+R)^N-1], where
P = Principal or your loan amount
R = Rate of interest
N = Loan tenure in number of years

Standard Chartered makes this easier for you with the help of our online Personal Loan EMI Calculator. All you have to do is enter in your loan amount, it’s interest rate and the term of the loan onto the calculator and it will show you your EMI, your repayment amount and much more within seconds.

Can I Refinance my Personal Loan?

Refinancing your loan is recommended only if you are in a position where doing so can save you money. For example, if your credit score has improved or the interest rate on your loan has dropped since you obtained your personal loan, you may catch a better deal if you refinance. You might even secure a longer term for your loan. Standard Chartered has a prepayment penalty charge which is 5% if made before 12 months and 4% after that, so make sure to refinance only if you’re sure to benefit from the new loan.

What documents are required for a Loan Application?

You will need the following documents when you apply for a Standard Chartered personal loan:

  • Proof of identity – Aadhaar card, passport, PAN card with photo, driving license, voter ID card or ration card with photo can be used.
  • Proof of address – passport, telephone bill, ration card, electricity bill, driving license, life/medical insurance policy, rental agreement or apartment allotment letter may be submitted.
  • Income proof – salary slips from the previous three months, Form 16 or acknowledged income tax return forms should suffice.

Can I Get Pre-Qualified for a Personal Loan?

You can be pre-qualified for a personal loan from Standard Chartered if you have a good credit history. However, pre-qualification does not guarantee that the loan will be sanctioned since your application has to be assessed for risk and your documents have to be verified first. However, if you already have a savings account with us, this process will be quicker, since verification will have already been completed earlier.

How can I get a loan instantly?

The fastest way to acquire a Standard Chartered personal loan is to apply for it online. All you have to do is to fill out the loan application at our website and upload the basic documents requested. Once that is done, you will be directed to the ‘View Quotes’ section, which will display important loan details like the interest rate, repayment amount and more. If you are satisfied with the loan you have chosen, you can choose the ‘Apply Now’ option and your application process will be complete. Standard Chartered will contact you soon after for verification purposes and will take it from there.

How much can I get on a loan?

You can avail of higher loan amounts if your credit score is good and your credit history is clean. Standard Chartered’s upper personal loan limit is set at INR 50 lakhs and you can avail of any amount from INR 1 lakh onwards.

What is VKYC?

VKYC, or simply Video KYC, is a feature that allows you to complete your KYC through a video from the comfort of your home while applying online for a Standard Chartered credit card, personal loan, or savings account. With this feature, our application process becomes even more simpler and completely contactless. Click here to learn more.