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  1. Loans
  2. Apply for Home Loans
  3. Apply for Interest Only Mortgage Online

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Presenting the Interest-Only Home Loan by Standard Chartered Bank

Interest Only Home Loan – Benefits
  • Monthly Outflow are
    Lower

    Pay only the interest upto 36 months (Interest only period).

  • Cash Savings are
    Boosted

    Save more cash for other needs like home improvement, personal use etc.

  • Enjoy
    Flexibility

    to commence monthly repayment earlier (Principal + Interest)

Interest Only Home Loan – Features

Lower Monthly Outflow

Pay only the interest upto 36 months (Interest only period). Full EMI consisting of the principal and interest will be payable after completion of the interest only period. Thus, automatically lowering your monthly outflow initially.

Improve your Cash Savings

Interest–only Home Loan helps in lowering monthly repayments for up to 36 months thus helping in boosting cash savings.

Better Cashflows

More savings means more cash in hand which can be utilized for home improvement, renovations, personal needs & more.

Enjoy Flexibility

You get the option to commence your EMI (Principal + Interest) earlier.

  • Interest Only Home Loan available only for Resident Indians
  • Loan Amount ranging from INR 35 Lakhs to INR 3.5 Cr
  • Flexible repayment tenure upto 30 Years for Salaried and 25 Years for Self-Employed.
  • Interest only period (applicable for Interest only Home Loan) means a period of 12, 24 or 36 months choosen by the borrower and mentioned in the Facility/Sanction Letter and in the loan agreement during which period only interest is payable on the loan amount.
  • In case the borrower has opted for interest only Home Loan, the borrower must pay only monthly interest during the interest only period. After the completion of the interest only period, the full EMI consisting of the principal and interest will be payable from the date set out in the agreement till the maturity or pre-payment of the loan
  • In Bengaluru the Interest Only Home Loan will be offered to only salaried clients

  1. Interest Only Home Loan (IOHL) allows the customer to pay interest only for the initial tenure (12-36 months); this period is referred as ‘Interest-only period’. No amortization of principle will take place during the interest-only period.
  2. Once Interest only period is over, loan would get amortized with an equitable monthly instalment over the remaining tenure of the loan.
  3. Amortisation of the loan (principle repayment) will commence after the interest only period is over through equated monthly repayment till the maturity of Loan.
  4. The Offering will be for Purchase of Residential Property and towards Balance Transfer of Existing Home Loan.
  5. Interest only Home Loan facility will be extended for self occupied (completed / ready)  residential properties.

Interest Only Home Loan allows the customer to pay interest only for the initial tenure (12-36 months). Once Interest only period is over, loan would get amortized with an equitable monthly instalment over the remaining tenure of the loan.

Application Form,  KYC documents , Income documents – ( 3 month Salary Slip & Latest Form 16  / Latest two years ITR ) , bank statements of last six months & property documents

  1. Minimum Loan Amount – 35 Lakhs
  2. Maximum Loan Amount – 3.5 Crore

Interest Only Home Loan is offered only on ready residential properties.

Salaried and self-employed resident Indians are eligible for Interest Only Home Loan.

Useful links

Mortgage Loan against Property

Mortgage Loan Against Property: Loan Upto 70% Property Value
Person, Human, Cell Phone

Know your customer documents
Person, Human, Interview

Mortgage tips
Service Charges & Fees

Service Charges & Fees
Person, Human, Text

Electronic Repayment Instruction (ECS)
Text, Person, Human

Loan repayment options