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Standard Chartered Bank Loan Against Property

Obtaining a loan secured by property may be a practical way to handle any significant needs. You can get the necessary funds required for business objectives, further education, or medical care, among other things. Recognizing the situation, one of India's top financial institutions, Standard Chartered, permits you to pledge your property to fulfill the objectives or specifications. Getting approved for a Standard Chartered Bank loan against property requires less effort. Because the application procedure proceeds swiftly, it is a convenient option. Everyone finds this loan to be inexpensive and preferred due to its flexible repayment terms.

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Standard Chartered Bank Loan Against Property

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Here are a few factors

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Location	All Metro Cities
CIBIL Score	700+
Applicant	Any Self Employed
Applicant Age	21 Year to 65 Year
Loan Amount & Tenure	30 Lac- 25 Cr ( 3 Year to 15 Year)
Login Fees	5900
Rate of Interest & Type	9%-12% (Reducing)
TAT	10 days
Processing Fees	0.50%-1%%
Foreclosure Charges	If Udhyam Registration then Nil after12 month else upto 4%
Insurance	0%-4%
Minimum Business Vintage	3 Year
Lock In Period	12 Month
Part Payment Allowed	Yes
LTV	(i) Residential-75% (ii) Commercial-70% (iii) Industrial-50% (iv) If Residential Property is rented/vacant-LTV will be 10% less (v) If Commercial Property is vacant/rented/purchase-LTV will be 10% less
Product	(i) Fresh Loan (ii) BT+Topup (iii) Commercial & Industrial Purchase (iv)LAP+OD Product
Program	(i) Banking Program-5 Cr (ii) Income Program-30 Cr (iii) GST Program-5 Cr (iv) Lease Rental Discounting-30 Cr
FOIR	80% of Cash Profit
Cautious Profile	No Cautious Profile
Negative Profile	(i) Salaried Applicant (ii) Politician (iii) Jewellers (iv) Real Estate (v) Applicant living in dominated area
Funded Property	(i) Approved Residential Property (ii) Approved Commercial Property (iii)Approved Industrial Property (iv)Approved Mall & Commercial Complex Property
Negative Property	(i) Unapproved Property (ii) Without MAP Property (iii) Lease hold Property without PTM (iv)Stand Alone Basement (v) Auction Property (vi) Demolition List Property (vii) Lal Dora Property (viii) Khasra & Khatauni Property (ix) Subject to Sale Deed Property (x) GPA Property (xi) Gift Deed Property (xii) Single Sale Deed Property (xiii) Legal & technical not clear (xiv) Stone Slab Property (xv) Hotel & Restaurent (xvi) Hospital & Nursing Home (xvii) School (xviii) Multi Tanented Unit (xix) Regularized Colony
Accepted Collateral	Other than Negative Property
Specific Property wise Funding Limit	No
Any Specific Product for Professionals	No
USP	LTV upto 90%

Right Documents - Easy Process

Required Documents to Apply for Standard Chartered Bank Loan Against Property

Salaried income documents

KYC of applicant & Co-Applicant
Last 3 Month Salary Slip of Applicant
Last 12 month Bank Statement of applicant & co-applicant
Last 3 year ITR with computation of income of applicant & co-applicant
Last 2 Year Form 16 of applicant
26AS of last 2 year of applicant & co-applicant
Appointment letter of applicant if available
Agreement to Sale if purchase case
Property Paper with complete chain of last 13 years
LOD (List of documents), Foreclosure Statement & SOA (Statement of account) if BT case
Sanction letter of all running loan
Latest utility Bill if owned residence or rent agreement if rented
2 Reference with contact details

Self Employed person documents

KYC of applicant & Co-Applicant
Last 3 year ITR with computation of income of applicant & co-applicant
Last 3 year audited balance sheet of applicant
Last 3 year Tax audit report of applicant
Last 12 month Bank Statement of applicant & co-applicant
26AS of last 2 year of applicant & co-applicant
Copy of GST registration
Copy of MSME registration
Copy of Last 12 month GST return
Agreement to Sale if purchase case
Property Paper with complete chain of last 13 years
LOD (List of documents), Foreclosure Statement & SOA (Statement of account) if BT case
Sanction letter of all running loan
Debt Sheet
Latest utility Bill of residence if owned or rent agreement if rented
Latest utility Bill of Office if owned or rent agreement if rented
2 Reference with contact details
Last 3 year Debtors & Creditors on letter head
List of Directors & Shareholders, if applicant if Company or List of Partners if applicant is Partnership firm/LLP

Some Important Points

1. KYC Means
If Applicant is

Company-MOA, AOA, COI , PAN Card
Partnership Firm/LLP- Partnership Deed & PAN Card
Proprietorship Firm- PAN Card, Adhaar Card, Passport size photo

For Co-Applicant

KYC means Adhaar Card, PAN Card, Passport Size Photo

Co-Applicant means in case of

Company : Directors
Partnership firm/LLP : Partners
Proprietorship Firm : Spouse of Proprietor

2. If LAP is applied with Government Bank then 30 year chain is required
3. If applicant is professional, then his professional degree is required

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FREQUENTLY ASKED QUESTIONS

Which properties are eligible to be used as collateral for a LAP from Standard Chartered Bank?

Commercial properties like stores and offices, as well as independently owned residential properties, are regarded as collateral.

How much is the most I can borrow against property with a Standard Chartered Bank loan?

Up to 75% of the property's worth may be borrowed.

. Is it possible to pre-close my loan secured by real estate?

To close your account, you must send a written request to the Standard Chartered Bank location that is closest to you. When paying in advance, there can be a little penalty that you must pay. That varies, though, according to the loan size and interest rate.

How will I apply for an LAP from Standard Chartered Bank?

You have three options for applying: online, at a local Standard Chartered Bank branch, or through Refer Loan's platform.

What is the processing charge for a loan secured by property from Standard Chartered Bank?

A processing fee of up to 1% of the loan sum is assessed for loan processing; all fees are made apparent in advance.