Standard Chartered Bank Home Loan Interest rates in Hyderabad
Standard Chartered Bank Home Loan Floating interest Rates
| Up To 30,000,00 | |
|---|---|
| Salaried | 9.41% |
Loan To Value (LTV) For Standard Chartered Bank Home Loan in Hyderabad
Features of Standard Chartered Bank Home Loan Hyderabad
| Type | Features |
|---|---|
| Processing Fee | Upto 1% |
| Pre Closure Charges | Nil |
| Part Payment Charges | Nil |
| Min Tenure | 5 Years |
| Max Tenure | 25 Years |
| Min Age | 21 Years |
| Max Age | 60 Years |
Standard Chartered Bank Home Loan Hyderabad Charges
| Type | Charges |
|---|---|
| E M I Bounce Charges | 24% Per Annum |
| Duplicate Statement Charges | NA |
| Insurance Cover | NA |
| Inspection Charges | NA |
| Legal Opinion Valuation Charges | NA |
| Validity Of Sanction | NA |
| Cheque Swapping Charges | NA |
| Bounce Cheque Charges | Rs.495/- |
| Issue Duplicate Provisional Interest Certificate | Nil |
| Issue Duplicate Interest Certificate | Nil |
| Duplicate Balance Certificate | Nil |
| Issue Amortization Schedule Duplicate | Nil |
| Switch Variable To Fixed | Upto 1% on principal outstanding |
| Switch Fixed To Variable | Upto 1% on principal outstanding |
| Photocopy Documents | Rs.300/- |
Documentation For Home Loan
For Salaried Persons
- Filled Application form
- Identity Proof (PAN CARD)
- Address Proof
- Latest 3 months Payslips
- Job Continuity Proof
- 2 Passport Size colour Photographs
- Co-Applicant identity proof, Address Proof
- Co-Applicant relationship Proof and Photograph
- 6 months Bank Statements
- 3 Post Dated Cheques/ECS Mandate
- Property Related documents
For Self Employed/Professionals
- Filled Application form
- Identity Proof
- Address Proof
- Last 2 years Income Tax Returns
- Professional/Self employed existence proof for more than 3 years
- 2 Passport Size colour Photographs
- Co-Applicant identity proof, Address Proof
- Co-Applicant relationship Proof and Photograph
- 6 months Bank Statements
- 3 Post Dated Cheques/ECS Mandate
- Property Related documents
Identity Proof For Home Loan
- Passport
- Driving License
- PAN card
- Photo credit card (with embossed Signature and last two months statement)
- Banker's sign verification
Age Proof For Home Loan
- PAN Card
- Passport
- License
- School leaving certificate
- Voter card
- Birth Certificate
- LIC policy (only for age Proof)
Income Proof For Home Loan
- Passport
- Telephone bill (BSNL/MTNL)
- Electricity bill
- Title deed of property
- Rental agreement
- Driving license
- Election ID card
- Photo-credit card (with last two month statements)
Address Proof For Home Loan
- Latest salary slip
- Current dated salary Certificate with latest form 16.
- Latest year IT Returns with Tax Audit reports(For Self Employed applicants)
Job Continuity Proof For Home Loan
- Form 16
- Relieving letter
- Appointment Letter (for last two months)
- Last 6 months of VAT/Service Tax returns (For Self Employed Applicants)
Banking History For Home Loan
- Bank statements of latest 2 months
- 3 months bank passbook
Property Related Documents For Home Loan
- Min of 15 years of Link documents of Property
- Min 15 Years of Encumbrance Certificate (EC) of the property obtained from Govt. Authorities
- Property Sanction plan
- BRS/LRS copies (if required, any)
Standard Chartered Bank Home Loan FAQ's
What are the documents that I need to submit when I apply for the loan?
"The primary documents that have to submitted are: Application form with self attested photograph o Identity, Age & Residence Proof o Bank Statement o Income Documents o Processing Fee Cheque o Property Papers There may be additional documents that are needed, details of which would be given to you at the time of application. "
What are the maximum and minimum loan amounts that can be availed?
The loan amount can go up to Rs. 10 crore, depending on your repayment capacity, and the city where the loan is disbursed. The minimum loan amount that can be availed is Rs. 5 lakhs.
Who all can be co-applicants on the home loan?
You can include your immediate relatives (spouse, parents, or children) as co-applicants on the loan. Siblings can be co-applicants if they are co-owners to the property. You also have the option of including proprietor concerns, partnership firms, private limited companies, and closely held limited companies as co-applicants.
What is the amount of processing fees that I have to pay?
Processing fee would vary from 0.5 % - 1.50% of the sanctioned loan amount depending upon the scheme you opt for.
Will SCB refund my processing fee?
If Standard Chartered Banks are unable to sanction the loan to you, the processing fees minus Rs. 2000 will be refunded to you. In case your loan has been sanctioned, the processing fees will not be refunded.
How long does it take to get a sanction for the loan?
After you have given us all the relevant documents, you can get a sanction for the loan within 5 working days, under normal circumstances.
What are my options for repayment?
"You can choose among the following options to give repayment instructions: o Electronic Clearing System (ECS). o Standing Instructions on your Standard Chartered account".
If the property is under construction, and I have not taken full disbursal, what options do I have regarding payment of EMI?
You have the option of paying either pre EMI (interest on the amount of loan disbursed thus far) or full EMI during this period.
How is the interest on my loan calculated?
The interest is calculated on a daily reducing balance and is charged with monthly rests.
Can I convert from a fixed rate of interest to a variable rate or vice versa?
At the discretion of SCB, you have the option of changing your interest type from Fixed to Variable or vice-versa provided you pay 1.5% of the principal outstanding at the time of exercising the option.
Having taken a home loan, can I take a top-up loan without offering any additional security?
Yes. Once you have completed six months of repayment on your home loan, Standard Chartered Bank offer you the option of applying for a top up loan, over and above your existing home loan.
About Standard Chartered Bank
Standard Chartered Bank is India's largest international bank with 99 branches in 42 cities, and this bank is been operating in India since 1858 In 1858, it opened its first branches in Calcutta, Bombay and Shanghai. Standard Chartered Bank is offering Credit Cards, Accounts & Deposits, Personal Loans, Against Securities, Against Term Deposits, Home Loan, Balance Transfer, Loan against Property.
Standard Chartered bank is Home Saver is a unique home loan that enables you to pay your home loan in half the time, at half the cost. A linked Transaction Account will be associated with your Home Loan. The surplus money in your Linked Transaction Account will be used to offset the principal of your home loan, which will result in faster closure of your loan. Effectively, interest will be paid only on the difference between the outstanding loan amount and your surplus funds."
Standard Chartered Bank Highlights
About Other Banks
Bajaj Finserv
ICICI Bank
Axis Bank
HDFC Bank
Magma Fincorp
DHFL
Citi Bank
Dcb Bank
IDBI Bank
IndusInd Bank
Kotak Mahindra Bank
RBL Bank
State Bank of India
Avanse
LIC Housing Finance
Fullerton
TATA Capital
Credila
HDFC Limited
Aditya Birla Housing Finance
Capital First
Edelweiss
Indiabulls Housing Finance
Religare Finvest
Yes Bank
Canara Bank
Bank of Baroda
Home Loan Can Be Used For Many Purposes Like Below
Why Home Loans?
Most of the families prefer to have their own house whether big or small. There is a significant difference staying in a self owned house than in a rented shelter. House is the most costly asset owned by middle and upper middle class families and it has emotional value. Affording own house with actual money is not always possible. Even though a person has stable income, years of savings are required to own a house in this current market. A Home loan answers the problems of those people who are willing to have their own home but do not have sufficient money to do that. You can now own your dream home by availing Home loan.
Home loan is normally for purchase of a new House/ Flat/Plot or renovation/ renewing of existing residential or commercial properties. Home loans are provided by Banks and registered finance companies. In Indian market there are several Banks/ HFCs providing Home loans at competitive interest rates. Home loan is always secured against the property that you buy. In case you are unable to repay the loan amount the lending bank will have right to take possession of the home.
In case of a Home loan entire lump sum amount will be sanctioned and disbursed initially based on the credit worthiness. You can plan your housing loan repayment tenure varying from 10-30 years and is repayable in form of EMIs. The rate of interest applicable is linked with Bank's base rate. You have a option to chose floating interest rate or fixed interest rate for the loan amount. For those who want the EMI amount to be fixed and are intending to plan their payments accordingly can opt for fixed interest rate. Those who are ready to take minimal risk and intend to avail the advantage in the long run can avail floating rate of interest. Floating rate of interest is more beneficial in the long run.
Expert Advice
Best Practices for Home Loan
Things not to do for Home Loan
Interest Rates
Other Benefits
Facts about Home Loans
The Banks/Financial Institutes takes care about the following, when you apply for a Home Loan.
Home Loan Vs Mortgage Loans
| Home Loans | Mortgage Loan |
|---|---|
| Home loan can be availed for own/purchase of new property (Home or Flat). | Mortgage loans will be provided based on already owned property. |
| Under Home Loan, loan can be availed only for purchase of new property. | There is no restriction on mortgage loan usage. It can be used for any purpose. |
| Housing Loan will be provided for max of 25 years, some banks can extend it to 30 years also. | Mortgage loans will be restricted to max of 10 years of term, which will be varying from bank to bank in India. |
| Home Loans interest will be as low as 9.95% to max of 11.5%, these interest rates will be subject to change as per market condition. | Interest rate will be very from 12% to max of 15% based on the bank to bank. Generally mortgage loans will be fixed interest loans. |
| Home Loan customers can be eligible for Income tax deduction of Rs 1.00 lakh on housing loan interest under section 80EE. This would be in addition to the existing tax benefit of Rs 1.5 lakh under section 24, only if the value of the property purchased should not exceed Rs 40 lakh. Also, it could result in maximum savings of Rs 30,000-31,000. | If the money received from a mortgage loan is used for business purposes, the interest can be claimed as an expense on the balance sheet of the business. However, if an individual is using it for personal end use, like marriage or medical expenses, the interest is not tax deductible as per income tax guidelines. |
| Loan can be availed up to max of Rs. 1.0 Cr under home loan, for real estate project funding it can be up to Rs. 20.0 based on the bank risk appetite. | Mortgage Loans can be avail up to Rs. 15.0 cr based on the type of property and its usage and value of property and eligibility of applicants as per banks norms. |
| There is no prepayment penalty for the housing loan customers, when the loan will be cleared by the own funds. | There will be pre payment changes will be applicable for mortgage loans. This will be vary from 1% to 3% as per bank internal guidelines. |
| Part pre Payments will be allowed in Housing Loans. | There were no part prepayment will be allowed for Mortgage loans. |
| Housing Loan can be availed with joint eligibility by Husband and wife or blood relatives. | Mortgage loans also avail with the joint eligibility as company and director or blood relatives. |
| You can avail max of 80% of the property value as a home loan as per your eligibility criteria. | In Mortgage Loan max of 65% property value can avail as a Loan based on the type of property. |
| You can avail a top loan facility on your home loan. | Top up facility will be vary from bank to bank internal guidelines. |
About Hyderabad
Hyderabad city is the capital city of the Indian state of Andhra Pradesh, in the region of Telangana.
The city has an estimated population of around 8 million, making it 4th largest city in India, while the population of the metropolitan area was estimated above 9 million. Religiously and culturally, the city is united with Hindus, Muslims and Christians.
Hyderabad is an emerging information technology (or IT) and biotechnology hub of India. Hyderabad's many epithets include the City of Pearls, the City of Nawabs, the Biryani City and, because of its high-tech draw, Cyberabad.
Hyderabad has witnessed a remarkable growth in the real estate business. A number of mega malls have come up and are being built in the city. The rapid growth of the city, along with the growth of Secunderabad and neighbouring municipalities has resulted in a large metropolitan area.
Other Cities Loan Offers
Places To Be Visited In Hyderabad
Salar Jung Museum (12 km)
The Salar Jung Museum in Hyderabad has a unique distinction as the third largest museum in India and earned a worldwide fame for its largest one-man collection of antiques. It is a home for the prized collections from different civilizations. The Museum is a royal treat for art collectors with its 43,000 art objects and 50,000 priceless books and manuscripts. The collections range from Indian Art, Middle Eastern Art, European Art, Far Eastern Art, Children Art etc.
Birla Mandir (5 Km)
The sparkling white structure visible through skyline of modern Hyderabad, Birla Mandir is located towards the southern end of Hussain Sagar Lake in Hyderabad situated atop the Kala Pahad which is a twin hillock of Naubat Pahad. The Birlas had built this temple in 1976 with white marbles procured from Rajasthan. The temple is dedicated to Sri Venkateswara. The hillock is at a height of 280-feet situated on a 13-acre plot
Golconda Fort (15 Km)
Golconda was the principal capital of the Qutub Shahi kings and a bustling centre for administration and commerce. This historical monument was constructed in the 1600’s. It was once considered to be home to a vault containing the ‘Hope’ and ‘Kohinoor’ diamonds. The inner fort has ruins of palaces, mosques and a hill top pavilion, which rises to more than 120 meters high and gives a bird’s eye view of other buildings. Golconda fort is undoubtedly one of most magnificent fortress complexes in India and it rests on a granite hill, considered an iconic monument depicting the history of Hyderabad.
Nehru Zoological Garden (24 km)
Established in 1959, Considered to be among the best zoos in Asia, the Nehru Zoological Park is home to more than 1,500 species of birds, animals, and reptiles. The zoo hosts different species such as Indian Rhino, Bengal Tiger, Mynahs, African Elephants, White Peacocks, Chimpanzees,Rhinoceros and Python are some of the attractions that make the place unforgettable.
Charminar (13 km)
Charminar is a monument and a mosque, which is synonymous with the history of Hyderabad, India. The majestic structure was completed in 1591 CE and is not only a landmark building of Hyderabad but also a famous monument of India. A must visit place for anyone who wants to treat his eyes to an architectural masterpiece, the ‘Charminar’ is shrouded by myths regarding the purpose behind its construction.
Hussain Sagar (3 km)
Built by noted Sufi saint, Hazrat Syed Hussain Shah Wali in 1526, this lake is located across an area of 5.7 sq.Km. It receives its water supply from the Musi River. Boasting of some exotic surroundings, Hussain Sagar serves as the ideal location for a tranquilising evening with loved ones.
Lumbini Park (5 km)
Maintained by the Buddha Purnima Project Authority as per the directives issued by the Telangana government is urban park was constructed in 1994. It is a dream come true for those willing to enjoy scenic beauty and that right in the heart of Hyderabad.
Jagannath Temple (10 km)
You can add a spiritual/religious flavor to your trip by visiting the ‘Jagannath Temple’ which is located in the Banjara Hills. A replica of the original temple in Puri, this sacred monument serves as a fitting tribute to the Oriya community in the city.
Falaknuma Palace (16 km)
Equipped with a lavish reception room and a library which has a roof carved from Walnut, the Falaknuma was once private property of the Nizam’s royal family. On the architectural front, it a blend of the Italian and Tudor styles. Interestingly, its last significant guest was Rajendra Prassad who visited the palace in the 1950’s.
Ramoji Film City (55 km)
The brainchild of noted film producer Ramoji Rao, this celebrated facility was certified the world’s largest film studio complex in the world by the Guinness book of world records nearly two decades ago. A host of films have been shot here. A popular tourist attraction, it boasts of some impressive features such as a full-fledged amusement park.