Personal Loan Interest Rate In Standard Chartered Bank

You can avail of interest rates as low as 11.49% p.a. at Standard Chartered. The decision regarding your eligibility for a low interest loan however, can depend on factors like your credit history, loan amount, loan tenure, income status or even just based on your relationship with us!

Do personal loan interest rates vary from person to person?

  • Yes, they do. Standard Chartered’s current personal loan interest rates start as low as 11.49% p.a, however, the interest rate that you are charged will be determined by your repayment ability, credit history, age and other such client-specific factors.

How are personal loan interest rates calculated?

  • While the range of the interest rates charged by Standard Chartered is applicable to all borrowers, there are still certain parameters which come into play when calculating your personal loan interest rates. Examples of such factors are your credit history, monthly income, loan amount and loan tenure.

What is Credit Rating and how does it impact personal loan interest rates?

Credit rating is a method that most banks use to assess whether your request for a loan can be accommodated. Standard Chartered rates the information you provide on the application form together with other factors such as your employment history and how you manage other accounts with the bank (if any). Standard Chartered also uses information from Credit Information Agencies such as CIC, who keep records on your borrowing and payment habits.

This includes details on how much credit you have outstanding as well as information on how many missed or late payments you may have made. This also has a direct impact on your personal loan interest rate.

Is there a fee for booking a personal loan?

Yes, once your personal loan is approved a processing fee of up to 2.25% of the sanctioned loan amount can be charged. Standard Chartered offers a 50% discount on the processing fee of personal loan applications, applicable to all customers applying online. For further details please refer to the schedule of charges on Standard Chartered’s personal loan page.