Standard Chartered Bank loans are created to support you with the financial assistance required to make your dreams a reality.
Asides from daily banking activities, Standard Chartered Bank offers loans that cater to the needs of its customers.
These loans are of different types and come with various limits, tenors, and interest rates. Personal loans are available to individuals to sort out daily needs, fees, and emergencies.
Small and Medium scale businesses are not left out of these funding solutions.
Whatever your needs, you can look through this article to find a Standard Chartered Bank loan to match it.
Standard Chartered Bank Loans
Below are the available Standard Chartered Bank loans with their requirements:
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Standard Chartered Personal Loan
Limit
₦20 million
Interest
1.083%
Tenor
60 months
This Standard Chartered bank loan is an unsecured loan which means you do not require collateral to access it. This loan is open to salary earners whose salary accounts are domiciled with the bank.
While servicing this loan, you can opt for a top-up under the premise of consistent repayments on the outstanding loan. You can choose to liquidate this loan before the tenor expires. Standard Chartered has created several convenient channels for this.
If you have any pre-existing loans with another bank, Standard Chartered can move the loan over to your account lodged with their bank to help you manage all your loans.
With this loan, you can receive a maximum of N20 million and up to 60 months to repay.
Requirements for Standard Chartered Personal Loan
- Completed application form
- 3 months’ bank statement
- 3 months’ pay slips
- Domiciled salary account with the bank
- Be aged between 21-60 years
- Minimum salary of N30,000 (Nigeria citizen)
- Minimum salary of N50,000 (Foreigners)
Standard Chartered Personal Loan Application Channels
You can apply for this Standard Chartered Bank loan through the following:
- Any Standard Chartered bank branch
Standard Overdraft Loan
Limit
₦1.8 million
Interest
5-15%
Tenor
12 months
Standard Chartered Bank overdraft loan is a revolving facility available to customers with salary accounts that offer 50% of your monthly salary.
With no maintenance fees and flexible interest rates, you can access this loan from your account with a debit card or a cheque or even make a transfer to other banks. The revolving facility automatically renews the loan every month so you are never strapped for cash.
The maximum amount available to you is N1.8 million. this overdraft is available once you empty your account.
Requirements for Standard Chartered Overdraft Loan
- Good credit history
- Minimum net salary of N50,000
- Salary account with Standard Chartered Bank
Standard Chartered Overdraft Loan Application Channels
You can apply for this Standard Chartered Bank loan through the following:
- Any Standard Chartered bank branch
Standard Chartered Mortgage Loan
Limit
₦250 million
Interest
18%
Tenor
20 years
Your dream home is now closer to reality than ever. All you need to do is apply for this Standard Chartered loan. this is a suitable financing option that gives you up to N250 million to purchase a home with a maximum of 20 years for easy and convenient payments.
Any existing loans with other financial institutions can be transferred to Standard Chartered for easier management and access to more loan benefits.
One of these benefits is a loan top-up after one year of servicing the current loan. You can also choose to apply for this loan with a partner, child, parent, or sibling.
The bank services up to 80% of the market value of the property while the applicant supplies the remaining 20%. On each payment, the interest is calculated on the reducing balance so you have less interest as you keep up with the repayment.
The process for application and approval of this Standard Chartered bank loan is straightforward. It starts with the prequalification and the issuance of the letter of intent. The only locations in which property can be financed by this loan are Abuja, Lagos, Ogun, Port Harcourt, and Ibadan.
Requirements for Standard Chartered Mortgage Home Loan
- Completed application form
- Salary account domiciled with the bank
- Payslip for 1 month
- 6 months statement of account
- Letter of awareness from employer
- Copy of the title deed to the property for mortgage
- Copy of approved building plan
Standard Chartered Mortgage Home Loan Application Channels
You can apply for this Standard Chartered Bank loan through the following:
- Any Standard Chartered bank branch
- Email [email protected]
Standard Chartered Smart Business Loan
Limit
₦20 million
Interest
5-15%
Tenor
2 years
When your business needs a boost for expansion, this Standard Chartered bank loan is the right way to go about it. It provides a small business loan of up to N20 million with no collateral needed. this loan is stretched out to be paid back in two years.
Requirements for Standard Chartered Mortgage Home Loan
- Completed application form
- Business/Corporate account domiciled with the bank
- Board Resolution
- Power of attorney
- Two references
- Copy of cpmapny’s registration certificate
- Copy of certificate of incorporation
Standard Chartered Mortgage Home Loan Application Channels
You can apply for this Standard Chartered Bank loan through the following:
- Any Standard Chartered bank branch
- Email [email protected]
Standard Chartered Bank offers an array of solutions to help grow your business to the level you envision it. these solutions are:
- Bonds and Guarantees: Advanced payment bonds, Bid bonds, and Bank Guarantees are some of the bond types available to your organization for contract obligations and more.
- Import Financing: Some of the ways Standard Chartered Bank can facilitate your import are by invoice financing and letters of credit.
- Import Letter of Credit Advising: Different letters of credit such as red clause, confirmed letters of credit, and standby is used to support the import aspect of your business.
- Export Letter of Credit Advising: Standard Chartered Bank offers inward letters of credit advising to both Standard Chartered Bank and Non-Standard Chartered Bank customers.
- Export Letter of Credit Checking and Collection Services: Standard Chartered Bank is able to assist local exporters in the processing of export letters of credit documentation and collections of their export proceeds.
- Import Collection Services: Standard Chartered acts as a referee/umpire between importer and exporter ensuring that all expectations are met on credit arrangements
- Export Financing: the bank can structure financing for export programs.
Standard Chartered Bank offers term loans for different tenors that cater to cash needs and can be immediately accessed. These loans finance specific transactions or assets.
- Short-Term Loans: Finance the borrower with a loan amount for no longer than a year in local or foreign currency. The interest is charged on individual drawings agreed upon at the time of the drawing.
- Medium-Term Loan: This loan is offered for any time between one year and five years with the principal and interest paid over this tenure.
- Long-Term Loan: This contract between the borrower and the bank lets the loan amount agreed on have a tenor between five to seven years.
This facility gives the equivalent of $1 million without having to liquidate your assets. No collateral is required to access this overdraft (excluding any current investments with the bank). This overdraft is available in multiple currencies such as NGN, GBP, EUR, USD,
This service comes with free online banking services and regular eStatement updates.
Business Mortgages is a funding plan that enables businesses to acquire property; industrial, commercial, or residential. For as long as 20 years, a business can be afforded up to 80% of the property’s value.
This service comes with free online banking services and regular eStatement updates.
If you are feeling lucky, take some minutes to calculate how much you will pay back before applying for any using the below Standard Chartered bank loan calculator:
Standard Chartered Bank Loan FAQs
Standard Chartered Bank has loan options with attractive rates, convenient tenors, and simple application processes for guaranteed approvals.
Customers are given a number of loan choices that are targeted toward their specific needs, whatever they may be. Each loan is made flexible and easily accessible for individuals looking to borrow some cash.
This article lists all the loans with their requirements so you can make the best option. Â
You can get other funding options such as loans from other providers.
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