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Standard Charted Bank (SCB) Home Loan

Features
• Variable and fixed rate loans
• No guarantor required
• Loan tenure starting from 5 years to 20 years
• Availability of top-up loan if consumer has been an existing home loan consumer for six months.

Eligibility
• Professionals
• Salaried individuals of recognized organizations
• Self-employed individuals (with at least 3 years experience)
• Individuals having other regular and stable income source

Loan Amount
The maximum loan amount is Rs. 2.5 crore. This depends on the consumer's repayment capacity and the city where the loan is disbursed. The minimum loan amount that can be availed is Rs. 5 lakh.
• Loan for construction- Rs. 5 lakh to 1 crore
• Loan to buy a residential property- Rs. 5 lakh to 1 crore
• Plot Loan - Rs. 5 lakh to Rs. 75 lakh
• Renovation and Extension loan- Rs. 3 lakh to Rs. 30 lakh

Margin
• Loan for buying house - up to 80 per cent of the cost
• Plot Loan - up to 70 per cent of the plot value
• Renovation and Extension loan - up to 75 per cent of the cost of renovation/extension

Processing fee
Processing fee may vary from 0.5-1.5 per cent of the sanctioned loan amount, depending upon the kind of loan.

Prepayment fee
2.5 per cent on the principal outstanding after adding any part payments made in the last 180 days. The minimum amount that has to be given as part prepayment is Rs. 25, 000.

Repayment Period
The loan tenure ranges from 5-20 years depending on the type of loan.

Documents
The primary documents that have to submitted are:
• Application form with self-attested photograph
• Documents relating to Identity, Age and Residence Proof
• Bank Statement
• Income Documents
• Processing Fee Cheque

For the self-employed, besides the documents mentioned above, following are the documents required:
• Certified computation of income