Home Loans for NRIs

While you decide upon a house that suits your family, let us help you with a home loan that suits your pocket. With not just a competitive rate of interest, but also an unmatched level of service.

Special Features
  • Great Savings:
    • One time processing fees
    • No hidden charges
  • Great Variety of loans for:
    • Purchasing a constructed flat / house
    • Purchasing a flat under construction
    • Home extension and renovation
  • Great flexibility:
    • Loans for salaried individuals
    • Each loan will mandatorily require a co-applicant and General Power of Attorney (GPOA) holder
    • GPOA should be located in the city where the loan is being processed
    • Choice of tenure from 5 years to 16 years
  • Refinance your loan:
    • Transfer your existing high interest loan to a lower interest Standard Chartered Bank home loan (as per the applicable current rates) and save on interest. We will also finance the prepayment charges if you so wish.


HomeSaver is a unique home loan that enables you to pay the lowest amount of interest. In fact, with HomeSaver, you can pay off your home loan in 1/2 the time, 1/2 the cost!

Special Features
  • Revolutionary home loan concept designed to help reduce the interest paid, and pay off the loan faster.
  • Deposit and withdraw your money (salary and other income) whenever you need, without any charges
  • Interest calculated on daily balance and applied monthly
  • Access your money whenever you need with free globally valid ATM-cum-Debit card
HomeSaver Operation

The graphic below shows how HomeSaver operates

HomeSaver Operations
HomeSaver Benefits

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.

Particulars Normal Home Loan HomeSaver
Loan Amount 1000000 1000000
ROI 14% 14.25%
EMI (Rs.) 12435 12617
Loan Tenure (months) 240 240
Total interest Repaid (Rs.) 19,84,448 12,59,260
Actual repayment period (months) 240 168
Savings on Interest (Rs.) - 725188
Tenure Reduced By (months)) - 72 months

Assumptions: Gross monthly post-tax income of Rs. 33,500; Monthly expenses of Rs. 20,000

The rates assumed above are just for demonstration purposes. The interest rate applicable on your loan would be as mentioned on your Sanction Letter.

Savings compared to normal Home Loan  
Savings on Interest: 36.5% Reduction on Tenure: 30%

Loan Against Property

Now your property can take care of your personal as well as your family’s needs. The Standard Chartered Loan Against Property is a multi-purpose loan which can be taken against your residential or commercial property and is available for personal expenses like holidays, education, marriage, family holiday etc.

The loan can be as high as 70% of the market value of your property and is available to Salaried NRI

Special Features

Here are some of the features of the loan you can get against your property:

  • A multipurpose loan upto 5 Cr at very attractive interest rates
  • "No Income" document scheme available
  • No guarantors required
  • High loan amounts
  • Minimum documents and speedy approval
  • Maximum tenure of 15 years


    • How do I apply for a Standard Chartered Home Loan?

      You can get in touch with us by calling in at our Phonebanking Nos, or write to us at India.Mortgage@standardchartered.com, or visit our Branches.

    • What are the documents that I need to submit when I apply for the loan?

      The primary documents that have to submitted are: Application form with self attested photograph

      • Identity, Age & Residence Proof
      • Bank Statement
      • Income Documents
      • Processing Fee Cheque

    There may be additional documents that are needed, details of which would be given to you at the time of application.

    • What is the maximum loan amount that can be availed?

      The loan amount can go up to Rs. 10 crores, depending on your repayment capacity, and the city where the loan is disbursed.

    • Who all can be co-applicants on the home loan?

      Each loan will mandatorily require a co-applicant and General Power of Attorney (GPOA) holder The co-applicant should fulfill the following conditions:

      • If applicant is married, spouse is compulsory as co-applicant
      • If unmarried, one of the parents / brother (residing in SCB asset locations) is required as co- applicant GPOA
      • GPOA should be located in the city where the loan is being processed
      • GPOA can be the co-applicant or any other close relative or friend.
    • What is the amount of processing fees that I have to pay?

      Processing fee would vary from 0.5 % - 1.50% of the sanctioned loan amount depending upon the scheme you opt for.

    • Will SCB refund my processing fee?

      If we are unable to sanction the loan to you, the processing fees minus Rs. 2000 will be refunded to you. In case your loan has been sanctioned, the processing fees will not be refunded.

    • How long does it take to get a sanction for the loan?

      After you have given us all the relevant documents, you can get a sanction for the loan within 5 working days, under normal circumstances.

    • You can choose among the following options to give repayment instructions:?

      After you have given us all the relevant documents, you can get a sanction for the loan within 5 working days, under normal circumstances.

      • Electronic Clearing System (ECS)
      • Post Dated Cheques (PDCs)
      • Standing Instructions on your Standard Chartered account
    • If the property is under construction, and I have not taken full disbursal, what options do I have regarding payment of EMI?

      You have the option of paying either pre EMI (interest on the amount of loan disbursed thus far) ) for a maximum of 3 years or full EMI during this period.

    • How is the interest on my loan calculated?

      The interest is calculated on a daily reducing balance and is charged with monthly rests.

    • Can I convert from a fixed rate of interest to a variable rate ?

      At the discretion of SCB, you have the option of changing your interest type from Fixed to Variable provided you pay 1.5% of the principal outstanding at the time of exercising the option.

    • Having taken a home loan, can I take a top-up loan without offering any additional security?

      Yes. Once you have completed six months of repayment on your home loan, we offer you the option of applying for a top up loan, over and above your existing home loan.

    • Can I make part prepayments on my home loan account?

      Yes you can make partpayments towards your home loan. The partpayment fees is NIL for part pre-payments less than 25% of the principal outstanding in a calendar year. For part pre-payments greater than 25% of the principal outstanding in a calendar year, the charges will be 2.5% of entire amount being paid.

    • How long do I have to wait after my loan is booked before I can make a part prepayment?

      6 months.

    • What are the charges on preclosure of the loan?

      The applicable charges are 2.5 % on the principal outstanding post adding any part payments made in the same calendar year

Additional Benefits

Insurance Products

Mortgage Redemption Term Assurance: Insurance premium funding at your Home loan rate. MRTA is a product which protects your family from the burden of repayment of the home loan in the unfortunate event of your death. The plan is intended for people who do not want the liability of loan repayment to fall on their family in the unfortunate event of their death. HHP plan is a combination of Insurance for the Property, Home Contents, and Personal Accident. You can choose to take insurance for combinations of these components or for a single component. Home contents offers insurance for the belongings of the customer inside the house. Home Protector covers the property from damage due to natural calamities. Personal accident component offers cover for death and permanent terminal disability due to an accident.

Insurance is a subject matter of solicitation. Your (Customer's) participation in the insurance products is purely on a voluntary basis.

Refinance your Loan

Balance transfer your existing high interest loan to a lower interest Standard Chartered Bank home loan (as per the applicable current rates) and save on interest. We will also finance the prepayment charges if you so wish.

Tax Benefits
Interest paid on the home loan

As per Sec 24(b) of the Income Tax Act, 1961 a deduction up to Rs. 150,000/- towards the total interest payable on the home loan towards purchase / construction of house property can be claimed while computing the income from house property. (The deduction amount is Rs 30,000/- in case of loans taken prior to March 1, 1999). The interest payable for the pre-acquisition or pre-construction period would be deductible in five equal annual installments commencing from the year in which the house has been acquired or constructed.

In case of self occupied property, this deduction is allowed only for one such self - occupied property. The interest towards home loan taken for purchase, construction, repairs, renewal or reconstruction of house property is eligible for deduction under section 24(b).

Principal repayment of the home loan

As per Section 80C read with section 80CCE of the Income Tax Act, 1961 the principal repayment up to Rs. 100,000 on your home loan will be allowed as a deduction from the gross total income subject to fulfillment of prescribed conditions.

Top Up Loan

A home loan with Standard Chartered Bank lets you do more than just buy a home. We have a product that is specially suited to the needs of our home loan customers – top up loan.

A top up loan is a facility given to our existing home loan customers over and above their existing loan. So, if you have taken a home loan from us, and are now in need of additional funding, a top up loan is the answer for you. You may need money to buy a swanky new home theatre system, to renovate your home, or to finance your child’s education. A top up on your home loan allows you to meet these or any other needs you may have, and that too, at attractive interest rates.

  • A home loan customer who has been repaying for more than 6 months is eligible to apply for a top up.
  • You can get a top up, up to 100% of the original loan amount disbursed*.
  • The tenure for the top up can be up to the outstanding tenure on your existing home loan.
  • Lower Costs - Compared to other alternatives like personal loans, a top up loan gives you a better deal when it comes to interest rates as well as processing fees. So you can leverage on your existing home loan to help you save costs.
  • Convenient Repayment – A top up loan allows you to repay over a longer tenure compared to a personal loan, helping you to keep your monthly outflow low.
  • You also have the option of transferring your existing loan to Standard Chartered Bank and availing a top up loan along with the transfer. To know more about Standard Chartered Bank’s top up loan facility, call us on our Phone Banking numbers.

    * Other restrictions also apply.

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