Standard Chartered Personal Loans in UAE
| Standard Chartered Personal Loan Details | |
|---|---|
| Maximum Loan Amount | AED 500K |
| Early Settlement Fees | 1% of the outstanding loan amount |
| Arrangement Fees | 1.05% of the approved loan amount |
| Tenure | 48 months |
| Age | 21 - 60 years(Expats) & 65 years(UAE Nationals) |
| Minimum Salary | AED 15,000 per month |
| Interest Rates | Flat rate: 3.88% | Reducing rate: 7.05% |
Features of Standard Chartered Personal Loan
- Maximum loan amount of up to AED 500,000
- Maximum loan tenure of 48 months
- Monthly reducing Interest / Profit rates starting from 7.55% p.a.
- A cashback of 1% of the loan amount (Min AED 500, Max AED 2500) for applications submitted online through SCB website and disbursed is credited to the account within 60 days of the application date. Minimum balance requirement on the transaction account is waived for the tenure of the loan
SCB offers two kinds of personal loans :
- Personal Loan
- Saadiq Personal Finance (Shariah compliant loan)
Fees and Charges
- Loan processing fee : 1.05% of the loan amount (Minimum 525 AED and Maximum 2625 AED)
- Late Payment Fee : AED 50
- Loan rescheduling fee : AED 262.50
- Early Settlement of loan : 1% of the outstanding loan amount (Maximum 10000 AED)
- Instalment deferment fee : AED 100
Eligibility Criteria of Standard Chartered Personal Loan
- Loan applicants company must be listed with Standard Chartered bank's list of approved companies
- Minimum salary requirement of AED 15,000
- Both UAE nationals and expats are eligible
Standard Chartered Personal Loan Interest rates
Standard Chartered Bank Personal Loans
Looks like there is no Personal Loan provided by Standard Chartered
Here we found some popular Personal Loans provided by other banks
Frequently Asked Questions
Q. Who can avail Standard Chartered personal loan?
A. UAE residents working for Standard Chartered’s approved companies can acquire this loan.
Q. What are different personal loans offered by Standard Chartered?
A. Standard Chartered Personal loan and Saadiq Personal Loan.
Q. What’s the early redemption fee charged by Standard Chartered?
A. 1% of the outstanding loan amount is charged as an early settlement fees.
Q. How many installment deferments can I avail with this loan?
A. You can postpone your installment payments yearly twice.
Q. If I applied loan with another bank, can I take advantage of Standard Chartered merits of personal loan?
A. Yes. Standard Chartered helps you move your loan to them with an easy process.
Q. Is Liability letter mandatory? If so what’s the fee charged?
A. Liability letter is mandatory for take over loans and AED 52.50 is charged.
Q. What’s the fees charged for late payment of loan by Standard Chartered?
A. Standard Chartered charges 2% of the delayed installment amount as late payment fee.
About Standard Chartered
A leading international banking group, with a rich history of over 150 years, Standard Chartered Bank (SCB) has been present in the UAE since 1958. SCB offers a range of products under Islamic and Conventional banking and is one of the leading financial institutions in UAE. Their main objective is ‘to offer outstanding value to customers and clients by providing a knowledgeable, efficient and reliable service in a personal, helpful and responsive manner’.
Corporate Values of the Standard Chartered Bank:
- Knowledge
- Efficiency
- Reliability in Service
- Personal Approach
- Helpful and Responsive Mannerisms
Get in touch with Standard Chartered Bank Customer Care
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