Standard Chartered Home Loan

Standard Chartered Home Loan for Home Renovation or build a new Home

Standard Chartered Home Loan Key features

  1. Loan Amount: You can borrow up to BDT 20 million with the Standard Chartered Home Loan. This substantial loan amount allows you to finance your dream home or property needs.
  2. Loan-to-Value Ratio: You can enjoy the flexibility of borrowing up to 70% of the property’s appraised value. This means you won’t need to cover the entire cost upfront, making home ownership more accessible.
  3. Repayment Flexibility: With Standard Chartered Home Loan, you have the freedom to repay the loan in up to 300 monthly installments. This extended repayment period allows you to manage your finances comfortably while fulfilling your home ownership aspirations.

These features make Standard Chartered Home Loan a convenient and customizable solution for individuals looking to purchase or invest in residential property.

Loan FeatureDescription
1. Loan PurposeThis home loan is specifically designed for home renovation or extension.
2. Top-Up FacilityYou can top up your existing home loan with Standard Chartered Bank to access additional funds for your home renovation or extension needs.
3. Competitive Rates and FeesEnjoy competitive variable interest rates. The processing fee is capped at BDT 20,000, and there are no hidden charges.
4. Save Interest with MortgageOne LoanMortgageOne is a unique home loan linked to a deposit account, allowing you to save on interest expenses.
5. Takeover LoanThere is no processing cost when transferring a house loan from another financial institution to Standard Chartered Bank.

Eligibility & Documents for Bangladeshi Residents:

  • Age of applicant: Minimum 25 years and maximum age at the end of the loan tenure (up to 70 years depending on the client segment).
  • Eligible client segments include salaried executives, business persons, self-employed professionals, and doctors.
  • Applicants must have a steady source of income from employment, business, or self-employment, with a minimum of 3 years of experience.
  • For Employee Banking clients, 1 year of experience is sufficient if they have a proven loan or credit card repayment track of at least 12 months and apply for the loan with a co-borrower who has an independent income source.

Customer Location:

  • Acceptable locations include Dhaka (including Narayanganj), Chattogram, and other areas with Standard Chartered Branch coverage.
  • Property location is restricted to Dhaka (including Narayanganj), Chattogram, and Sylhet (for home renovation/extension loans only, with adjacent areas included).

Minimum Net Monthly Income:

  • BDT 78,000

Mandatory Documents for All Clients:

  • National ID Card
  • Passport-size photograph
  • e-TIN Certificate

Income Documents for Salaried Clients:

  • Original Salary Certificate Letter of Introduction
  • The most recent six months’ worth of pay-related bank statements.

Documents for Businessmen / Self-employed Clients:

  • Updated Trade License with proof of the last 3 years of business experience
  • RJF certified / Partnership Deed with Form 1
  • MOA/AOA, Form X/XII/117, and certificate of incorporation certified by RJSC (if applicable)
  • Business supporting documents like work orders
  • Additional supporting documents may be required at the bank’s discretion.

Maximum Loan Tenure:

  • Businesspersons: 120 months
  • All other segments: 300 months

For Non-Resident Bangladeshis (NRB):

  • Age of the applicant: Minimum 25 years and maximum age at the end of the loan tenure (depends on the client segment).
  • Eligible client segments include salaried executives with a valid work permit.
  • A co-applicant is mandatory for financing NRBs. If the co-applicant is also an NRB, a local guarantor is required for post-disbursement activities.
  • Customer location is in the UAE, India, Bahrain, Qatar, Jordan, Oman, Singapore, Malaysia, Indonesia, Hong Kong, Vietnam, and South Korea.
  • Property location is limited to Dhaka (including Narayanganj) and Chattogram.

Minimum Net Monthly Income for NRBs:

  • USD 3,500 (or equivalent)

Mandatory Documents for NRBs:

  • National ID Card
  • Passport-size photograph
  • e-TIN Certificate
  • Valid work permit
  • Letter of Introduction (Salary certificate)
  • 6 months bank statement as proof of the salary relationship.

Additional Documents for NRBs:

  • Documents need to be collected for providing the loan, verified by the concerned Embassy/High Commission of Bangladesh in the NRB’s country, and duly attested by the foreign Embassy.

Maximum Loan Tenure for Salaried NRBs:

  • 180 months

Please note that these details are subject to change, and it’s advisable to contact Standard Chartered Bank for the most up-to-date information and to discuss your specific eligibility and requirements.

Mortgage Calculator

Amount you want to borrow: 2,000,000 Tenure: 120 months

Monthly Payment:

Monthly Payment 25,335.15 and Total interest 1,040,219

Tenure (in Months)Total Interest PaidOutstanding Mortgage

How to contact

To apply for a Standard Chartered Home Loan, you can get in touch through various methods:

  1. Visit your nearest branch of Standard Chartered Bank.
  2. Call our 24-hour client care center at +8802 8332272 or 16233 (from a mobile phone).

You can also contact our Home Loan Sales Team Managers directly at the following phone numbers:

  1. Md. Jafar Ullah: +88 01711244654
  2. Md. Mesbah Uddin: +88 01841706693
  3. Washu Bin Mohsin: +88 01711549073
  4. For Chattogram – Ashim Chowdhury: +88 01919930880
  5. Md. Sharek Chowdhury: +8801716582223
  6. AK Shafiqur Rahman Shirazee: +8801926669333

1 thought on “Standard Chartered Home Loan”

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.