Revolving Credit

What are the minimum and maximum credit facility amounts?

You can utilise a credit line up to 6x your gross salary or a maximum of PKR 2 mn depending on your eligibility, income and repayment capacity.

What are the credit facility tenure options?

There are no tenure options as this is an evergreen line with yearly automatic renewals.

Are there any additional charges?

A one-time processing fee of PKR 1,500 will be charged when you sign up, followed by an annual fee of PKR 1,750.

How much time will it take for my facility to be approved?

Your application will be approved within 15 working days upon receipt of the required documents.

Do I have to provide any security, collateral or guarantors?

No security, collateral or guarantors are required for opening a Revolving Credit line.

Do I need to open an account with Standard Chartered Bank for availing and / or servicing the loan?

Upon approval of your application, two accounts will be opened by SCBPL. One will enable you to draw funds and the other will be for you to make repayments.

How do I repay the utilized amount?

You can repay the amount into the RC Repayment account which will be mentioned on your monthly statement. You can deposit the required amount through drop boxes, walk in at branch, IBFT (Inter Bank Funds Transfer) facility at ATMs. Account holders can also use Internet banking and Call Centre to make the desired payments.

Do I get special privileges as a Standard Chartered Employee Banking Customer?

As a Standard Chartered Employee Banking Customer, your joining fees will be waived and you will be offered special mark-up rates, asked for minimal documentation and your application will be processed on priority.

How much cash can I draw from my Revolving Credit?

You can use 100% of your credit limit on Revolving Credit.

Personal Loan

What are the minimum and maximum loan amounts?

You can avail of loans ranging from Rs 30,000 to Rs 2 Million depending on your eligibility, income and repayment capacity.

What are the loan tenure options?

The loan can be repaid over a period of 12 to 60 months.

Are there any additional charges?

A processing fee will be charged on the loan amount as follows:

  • Up to 100k – 1500
  • 100 - 250k – 2500
  • 250k+ - 1% of loan amount
  • The requisite documentation charges is payable upfront. This fee will be deducted from the Loan amount at the time of disbursal.

How much time will it take for my loan to be approved?

Your loan will be disbursed within 15 working days post receipt of the all required documents.

Do I have to provide any security, collateral or guarantors?

No security, collateral or guarantors are required for obtaining a Personal Loan.

What is EMI?

EMI stands for Equal Monthly Installments. This installment comprises both principal and interest components.

How do I repay the loan?

You can repay the loan by depositing Equal Monthly Installments (EMI's) in your prescribed account.

Can I prepay my loan?

You can pre-pay your loan with early settlement charges as below, however, do ensure that you have informed the Bank for the processing of early settlement.

  • 10% of amount prepaid if prepaid within 12 months.
  • 5% of amount prepaid if prepaid after 12 months.
Do I need to open an account with Standard Chartered Bank for availing and / or servicing the loan?

Yes.

 

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Speaking Up

Standard Chartered Bank (the “Bank”) is committed to maintaining a culture of the highest ethics and integrity, and in compliance with all applicable law, regulation and internal policy. As part of this commitment, the Bank has a ‘Speaking Up’ programme through which genuine concerns in this regard can be raised. Members of the public can securely raise Speaking Up concerns through this hyperlink, which is hosted on behalf of the Bank by a third party ‘InTouch’. Examples of concerns that can be raised through this website are concerns that relate to accounting, internal accounting controls or auditing matters and concerns relating to bribery or banking and financial crime. Concerns received will be forwarded to the Bank’s investigations team for review. Complaints relating to SCB banking services should not be raised through this site in the first instance, but through the SCB branch network, contact centres, Relationship Managers or the ‘Contact Us’ webpage.

Disclaimer

Please note that this hyperlink will bring to you to another website on the Internet, which is operated by InTouch, an independent company appointed by the Bank to support its Speaking Up programme. Please be mindful that when you click on the link and open a new window in your browser, you will be subject to the additional terms of use of the website that you are going to visit.

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