Standard Bank Retail Loan
The services dealing with retail customers are called the retail banking segment of banking. Standard Bank Retail Loan products are bank accounts, lines of credit, and bank debit and credit card services
The Retail Banking Products
Retail banking is the main form of commercial banking that offers a variety of services, with commercial banks mainly targeting retail customers rather than corporate clients. There are several products and services offered by retail banks and these products are designed keeping in mind the needs of the customers, a large segment of consumers being the main customers of commercial banks.
There are many types of loans available at Standard Bank in Bangladesh, but each loan is generally defined by four main factors:
- Principal: The amount of money you have borrowed. This amount is usually the purchase price of the home minus your down payment, minus closing costs, and other related fees.
- Tenure: How many days do you have to repay the entire loan. A home loan tenure can range from five to a maximum of 30 years.
- The interest rate: The annual amount you have to pay the lender to borrow money, is shown as a percentage of the current principal balance.
- Payment frequency: How often you make payments. That is, how often the borrower pays back their mortgage, usually on a monthly or bi-weekly basis.
Following are the retail loan products of Standard Bank
Standard Bank Home Loan
A home loan is a personal loan that is an amount of money lent by a bank or other lender to finance the purchase of a property or the construction of a home. The lender and the borrower agree on a term in which the principal amount of the loan must be repaid with interest. Home loans generally have a tenure of 25 to 30 years. The borrower will agree to a repayment schedule, which will usually be in monthly installments but can vary.
| Eligibility Segment | Any Individual qualifying Income, Age, and Risk-Return Assessment criteria of the Bank. |
| Minimum Income for Eligibility | BDT 50,000 |
| Loan Purpose | Purchase / Construction of flat / residence |
| Maximum Loan Amount | BDT 200 Lac |
| Maximum Tenor | 240 months |
| Interest Rate | 9.00% |
| Personal Guarantee | 1 family guarantee |
| Fees & Charges | • 0.50% for Loan Amount up to 50 Lac, Maximum. Tk15000 • 0.30 % for Loan Amounts above Tk. 50 Lac, Maximum Tk. 20000 |
Standard Bank Semi-Pacca Housing Loan
Standard Bank Semi-Pacca loan offers the finance you need to build your semi-pucca construction.
| Eligibility Segment | Any Individual qualifying Income, Age, and Risk-Return Assessment criteria of the Bank. |
| Minimum Income for Eligibility | BDT 30,000 |
| Loan Purpose | Construction of semi-pucca building |
| Maximum Loan Amount | BDT 50 Lac |
| Maximum Tenor | 96 months |
| Interest Rate | 9.00% |
| Personal Guarantee | 1 family guarantee |
| Fees & Charges | • 0.50% for Loan Amount up to 50 Lac, Maximum. Tk15000 • 0.30 % for Loan Amounts above Tk. 50 Lac, Maximum Tk. 20000 |
Standard Bank Auto Loan
An auto loan is a loan from a bank or other financing institution to finance the purchase of a new or used car. A customer pays the principal along with interest to the financing institution. Usually payable in monthly installments with interest.
Standard Bank Auto Loan details
| Eligibility Segment | Professionals, Salaried Executives, Businessmen, Land Lord, and Other Selective Individuals based on creditworthiness. |
| Minimum Income for Eligibility | BDT 100,000 |
| Loan Purpose | Financing Personal Transport |
| Maximum Loan Amount | BDT 40 Lac |
| Maximum Tenor | 60 months |
| Interest Rate | 9.00% |
| Personal Guarantee | 1 family guarantee |
| Fees & Charges | • 0.50% for Loan Amount up to 50 Lac, Maximum. Tk15000 • 0.30 % for Loan Amounts above Tk. 50 Lac, Maximum Tk. 20000 |
Standard Bank Professional Loan
Professional loans are extended to professionals such as doctors, chartered accountants, engineers, or any other professionals. Lenders check qualifications and other credentials as a component of a borrower’s background check process before extending a loan.
Standard Bank Professional Loan details
| Eligibility Segment | Only Self-Employed Professionals |
| Minimum Income for Eligibility | BDT 30,000 |
| Loan Purpose | Professional establishment, Equipment, and Facility stuffs |
| Maximum Loan Amount | BDT 20 Lac |
| Maximum Tenor | 84 months |
| Interest Rate | 9.00% |
| Personal Guarantee | 1 family guarantee |
| Fees & Charges | • 0.50% for Loan Amount up to 50 Lac, Maximum. Tk15000 • 0.30 % for Loan Amounts above Tk. 50 Lac, Maximum Tk. 20000 |
Standard Bank Personal Loan
A personal loan is an amount of money borrowed from a bank, financial institution, or an online lender, which you pay back in fixed monthly installments over a period of one to five years.
Standard Bank Personal Loan details
| Eligibility Segment | Professionals, Salaried Executives, Businessmen, Land Lord and Other Selective creditworthy Individuals |
| Minimum Income for Eligibility | BDT 50,000 |
| Loan Purpose | Medical/ Education/ Festival/ Ceremonial/ Travelling/ Pilgrimage etc. |
| Maximum Loan Amount | BDT 20 Lac |
| Maximum Tenor | 60 months |
| Interest Rate | 9.00% |
| Personal Guarantee | 1 family guarantee and 1 (One) from Non-Family |
| Fees & Charges | • 0.50% for Loan Amount up to 50 Lac, Maximum. Tk15000 • 0.30 % for Loan Amounts above Tk. 50 Lac, Maximum Tk. 20000 |
Standard Bank CCS (general) Loan
Standard Bank CCS (general) Loan details
| Eligibility Segment | Any Individual qualifying Income, Age, and Risk-Return Assessment criteria of the Bank. |
| Minimum Income for Eligibility | BDT 30,000 |
| Loan Purpose | Consumer Durables |
| Maximum Loan Amount | BDT 8 Lac |
| Maximum Tenor | 60 months |
| Interest Rate | 9.00% |
| Personal Guarantee | 1 family guarantee and 1 (One) from Non-Family |
| Fees & Charges | • 0.50% for Loan Amount up to 50 Lac, Maximum. Tk15000 • 0.30 % for Loan Amounts above Tk. 50 Lac, Maximum Tk. 20000 |
Standard Bank CCS (employee) Loan
Standard Bank CCS (employee) Loan details
| Eligibility Segment | Standard Bank Limited Regular Employees only |
| Minimum Income for Eligibility | BDT 30,000 |
| Loan Purpose | Consumer Durables |
| Maximum Loan Amount | BDT 15 Lac |
| Maximum Tenor | 60 months |
| Interest Rate | 8.00% |
| Personal Guarantee | 1 family guarantee and 1 (One) from Non-Family |
| Fees & Charges | • 0.50% for Loan Amount up to 50 Lac, Maximum. Tk15000 • 0.30 % for Loan Amounts above Tk. 50 Lac, Maximum Tk. 20000 |
Required common documents for the applicant
- Complete the Account Opening Form KYC
- Two recent Passport Size Photographs of the Proprietor duly attested by the introducer
- Photocopy of NID/Passport/Driving License/Ward Commissioner Certificate with photo (Photo must be attested by ward commissioner).
- Copy of valid Trade License
- Income tax certificate or up-to-date TIN (Optional)
- The personal identity of the proprietor of the Firm has to be established by regular individual account opening documentation.
- Sole Proprietor declaration
- Proof of Address- Copy of Utility Bill for the latest 3 months.
- Certified true copy of the Memorandum & Articles of Association of the Company
- Copy of Certificate of Incorporation
- Copy of Certificate of Commencement of Business (For Public Limited Companies only)
- Extract of the Board resolution/General Meeting of the Company for opening the account and authorization for its operation duly certified by the Chairman/Managing Director of the Company
- List of the Directors with address in specified Form.
Frequently Asked Questions (FAQs) on Standards Bank Retail Loan Products
Q: What is the purpose of the United Commercial Bank Home Loan?
A: The United Commercial Bank Home Loan serves multiple purposes including purchasing new or old houses/flats, constructing/extending houses/apartments, and renovating/altering existing houses/flats.
Q: What is the maximum loan tenure?
A: The maximum loan tenure is up to 20 years.
Q: What are the interest rates for SBL Loan?
A: The interest rate for SBL Loan is 9.00%.
Q: What is the interest rate for SBL staff Loan?
A: The interest rate for SBL staff Loan ranges from 5.00% to 7.00%.
Q: What is the minimum income to be eligible for a Loan?
A: For salaried individuals, the minimum income is BDT 30,000. For professionals, landlords/landladies, and business individuals, the minimum income required is BDT 60,000.
Q: What is the maximum loan amount?
A: The maximum loan amount is BDT 2 crore.
Q: What is the processing fee for the Home loan?
A: The processing fee for the Home loan is a maximum of 0.50% as per the schedule of charges of SBL.
Q: What is the Early Settlement Charge for a Home loan?
A: The Early Settlement Charge for a Home loan is 0.50% of the settled amount.
Q: Is there any fee for changing home loan EMI?
A: No, there is no fee for changing home loan EMI.
Q: How to contact for SBL loan?
A: You can contact any nearest branch or reach out to the following address:
Metropolitan Chamber Building (3rd Floor),
122-124 Motijheel C/A, Dhaka-1000, Bangladesh
Telephone: +8802223358385, +8802223385106, +8802223357913
Email: sblho@standardbankbd.com