Home Loan
Standard Chartered Home Loan provides attractive financing for a new house or an apartment. You can also avail our Home Loan for renovation, facelift, extension and furnishing work in your existing house or apartment.
Special benefits
- Very attractive variable interest rates
- No personal guarantee or cash security required
- No prior account relationship required with Standard Chartered
- Early settlement and partial prepayment options
- Loans against land value if building plan is approved by Rajuk or similar authorities
- Option to avail home loan in installments, based on the amount of down payment arranged at every step
- Option to pay only interest during construction period
Exclusive features
- Step by Step Financing: You can avail the home loan in steps, depending on how much down-payment you can arrange at every step. This greatly reduces the burden of having to pay the whole down payment at once.
- Plinth Level financing: You can avail home loan for purchasing an apartment that is still in the construction stage, provided that the foundation and the basic structure of the building have been completed. To avail our Home Loan, you will no longer have to wait till the construction is over. This will help you choose your preferred apartment before others do.
Eligibility
- Professional Experience: At least three years of service/ professional/ business track records
- Income: Minimum monthly income of BDT 25,000
- Minimum Age: 25 years
- Maximum Age: 65 years at the end of the loan tenure or retirement age for service holders (whichever is earlier).
- Proposed Property: Any property on leasehold / freehold / private land in Dhaka & Chittagong metropolitan areas.
Flexible Loan features
- Loan tenure of up to 20 years
- Loan amount up to BDT 10,000,000
- Financing available for up to 80% of property value
- Refinancing / loan takeover facility available
Repayment
- Repayment by Equated Monthly Installments (EMI)
- Interest calculated on monthly reducing-balance basis
Security
- Registered mortgage in favor of Standard Chartered Bank, or equivalent securitization under Tripartite Agreement or Four party agreement
Mortgage Reducing Term Assurance (MRTA)
Our Home Loan comes with a very attractive credit-life insurance bundle scheme called Mortgage Reducing Term Assurance (MRTA). The insurance coverage is provided by one of the best life insurance companies around. Moreover, we are financing the insurance premium along with your home loan.
MRTA insures your Home Loan against your death or permanent total disability, relieving you and your family of the burden of the loan in the event of any such unforeseen circumstances. Your dream home will be there for your family, forever.
Apply for a Home Loan with MRTA and enjoy the following special interest rates
Standard Chartered now offers the best interest rates in the market for home loans, bundled with MRTA. The interest rates are variable, and will be reviewed on a 6 monthly basis (after loan disbursement), based on 182-Day Government Treasury Bill rates. The interest rates are as follows:
| Loan Type | Interest Rate (p.a.) |
|---|---|
| Home Loan (for purchase of a new home) | 13.5 % |
| Takeover Loan (transfer of your loan from any other bank/FI) | 13.5 % |
| Home Credit (for renovation / extension of your home) | 14.75 % |
Above interest rates are as on 1 August 2010; interest rates are subject to change without prior notice.
Processing Fees
Loan Processing Fee: 1.5% of the loan amount + 15% VAT on processing fee
Takeover Loan
You can transfer your existing home loan at other banks or financial institutions to Standard Chartered Bank at attractive interest rates and make significant savings. Just visit any of our branches or call our call centre to know how much you can save. No processing fee is charged for Takeover Loans.
Accessible
At Standard Chartered, we believe in delivering our services to our customer's doorsteps. If you want someone from our Home Loan sales team to contact you and guide you on the Home Loan application process, just drop us an email with your basic information (name, profession, type of Home Loan you are willing to avail, and contact details) at mortgage.onestop@sc.com. You may also visit your nearest Standard Chartered branch or call our 24-hour call centre at (+88 02)8957272 or (+88 02)8332272 anytime, any day, for more information.