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Standard Chartered Home Suite

Standard Chartered Bank

Home Suite

Minimum Salary

AED 10K

Flat Rate

1.85%

Reducing Rate

3.35%

Loan Amount

AED 18000K

Early Settlement Fee

1.05%

Arrangement Fee

0.525%

Down Payment

20%

Repayments Up To

25 Years

Advantages

  • Free debit card
  • Life takaful is not mandatory
  • Discounts on frequent payments
minimum salary

AED 10K

Minimum Salary

flat rate

1.85%

Flat Rate

reducing rate

3.35%

Reducing Rate

max finance

AED 18000K

Loan Amount

early settlement fee

1.05%

Early Settlement Fee

arrangement fee

0.525%

Arrangement Fee

down payment

20%

Down Payment

repayment

25 Years

Repayments Up To

Advantages

  • Free debit card
  • Life takaful is not mandatory
  • Discounts on frequent payments

View details on bank page

Features

  • Priority banking services are provided on approval
  • Minimum salary of AED 10000 is required
  • Home Finance is provided at a fixed interest rate of 1.85%
  • Home Finance is provided on a reducing interest rate of 3.35% within fixed rate period, thereafter it will be repriced annualy based on Prescribed Margin + 12M EIBOR
  • Salary transfer to SCB account is optional
  • The loan is provided for a maximum tenure of 25 years
  • Getting your property insured is mandatory
  • 0.525% of the total loan amount is charged as processing fees
  • Maximum loan amount provided is AED 18000000
  • UAE Nationals: 20% of the property value should be paid as the down payment
  • Expats: 25% of the property value should be paid as the down payment
  • 1.05% of outstanding loan amount is charged on early settlement or AED 10,500 whichever is lower

Benefits

  • Provides pre approval details
  • Current account is provided for zero minimum balance requirement
  • Additionals discounts are provided on regular transactions
  • Provides top up facility
  • Can get finance for under construction property
  • Low processing fees
  • Quick approval of loan
  • Hassle free documentation

Frequently Asked Questions

⭐ How much finance do I get on under construction properties?

A. 50% of the property value is provided as finance to purchase under construction properties.

⭐ I have an existing mortgage loan, Can I transfer it to Standard Chartered Bank Home suite loan?

A. Yes, SCB provides balance transfer facility.

⭐ Is Standard Chartered Bank Home suite loan based on Islamic Principles?

A. Standard Chartered Bank Home has Saadiq Home Finance, which is a Shariah-compliance option

⭐ What is the minimum balance to be maintained on the current account?

A. The free Current account provided on approval can be maintained on zero minimum balance.

⭐ Do I get to to know the loan amount that will be approved?

A. Yes, SCB provides pre approval details.

⭐ Is Property Takaful mandatory?

A. Yes, Property Takaful is mandatory

⭐ What is the processing fee charged on balance transfer?

A. There are no processing fees charged on availing balance transfer of home finance.

⭐ Is the home finance based on Sharia laws?

A. Yes. Standard Chartered Saadiq Finance is based on Sharia principles.

⭐ What are the benefits that can be availed on Standard Chartered Home loan?

A. Standard Chartered bank provides a free debit card on their home finance.

⭐ How much time does it take for approval?

A. Standard Chartered bank takes 2-7 days for the approval of the loan.

⭐ For how long the fixed interest rate is charged at SCB?

A. SCB charges fixed interest rates for the first two years of the loan.

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 Customer Care