Standard Chartered Personal Loan Details | |
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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