#loan against property
*Special benefits on Semi Fixed Pricing
Terms and conditions apply.
*The above rates are subject to revision from time to time and at the discretion of Standard Chartered Bank.
- 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
- Incremental funding option post 6 months of clean repayment
- 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 & Working Capital solutions, Forex and Cash Management offerings
- Rating parameters of the bank’s credit risk models:
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 firmst
- 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 15 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 2% of the outstanding at the time of closure (service tax 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 (service tax will apply additionally)
- What are the basic documents required for applying for the facility?
- Bank statements for the last 6 months
- 2-year financials including Profit & Loss (P