How do I apply for a Loan against Property?

You can apply for a Loan Against property in the following ways: Online application form and our representative will get in touch with you. Call on one of our customer care number- 39401616 / 66011616, add city code before number. Write to us at customercare.business@sc.com . Visit your nearest Standard Chartered branch. If you are a liability customer you may also get in touch with your relationship managers to know more and apply for a LAP.

What are the different types of programmes / products?

We offer: Loan against multiple property type residential – self occupied or rented as well as commercial property – premise or a shop. Loan for commercial purchase. The above variants can be taken as a normal LAP term loan or as a LAP saver facility.

When can I avail for a line increase on my existing loan?

Incremental funding option post 6 months of clean repayment.

What are the benefits of taking a LAP from Standard Chartered business banking?

We offer: Attractive semi fixed / variable interest rate, multiple property type loan against property (residential – self occupied or rented / commercial – premise or a shop). Attractive loan variants having substantial interest saving option – LAP savers. Opportunity to avail gamut of offerings to SMEs i.e. business banking products, trade and working capital solutions, Forex and cash management offerings.

How is eligibility determined?

Internal rating scorecard is used for selecting eligible customers. It is based on a combination of parameters: - Loan repayment track - Credit performance / Credit bureau update - Debt servicing ability of the customer - Business vintage - Financial ratios - Existing relationship

For whom is the Loan Against Property useful?

Sole proprietors / proprietorship firms. Partnership firms. Private-limited companies. Closely-held and public-limited companies.

What is the maximum tenure of the loan?

The maximum tenure for which you can avail the facility is up to 20 years.

What do I need to give as security?

We accept both residential and commercial property as security. No plot or under construction properties will be allowed.

Can I prepay my loan?

Pre-payment is not permitted in the first 12 months of the loan. You can pre-pay your loan with pre-closure charges of 4% of the outstanding within 24 months of on boarding, 2% between 25 to 60 months of on boarding and 0% post 60 months of on boarding (GST will apply additionally).

Can I part prepay my loan?

You can part prepay your loan with pre-closure charges of 2% of the amount being part prepaid (GST will apply additionally).

What is the turnaround time for the disbursal, decisioning of the loan?

Decisioning of the loan may take a minimum of 7 working days to process once all requirements as required by the bank are completed. Disbursal of the loan will take a minimum of 5 working days from the time of submission of loan related documents as requested by the bank.

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