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Standard Chartered is one the top ranking banks in the world. Standard Chartered Bank (SCB) is a product of the mergers between Chartered Bank of India, China and Australia. Standard Chartered has a rich history of 155 years in Singapore. The first branch was opened on the island in the year 1859. In October 1999, the bank received its QFB or Qualifying Full Bank license and thereby becoming one of the first international banks in Singapore to receive this honor. The Singapore alone, the bank has employed approximately 7000 employees with a network of 18 branches, 32 ATMs and 7 Priority Banking Centers. The Standard Chartered international banking group has over 86, 000 employees from across the globe with a history of 150 years in the most dynamic financial markets in the world. The global business of Standard Chartered along with its global technology and operations function is managed out of Singapore. The bank caters to financial needs of individuals as well as corporations alike with products and services including cash management, trade finance, lending, loans, credit cards, deposits and investments to name a few.
The Standard Chartered Business Property Loan gives you access to additional funds with extensive property coverage, high loan financing quantum and a flexible repayment tenure.
Standard Chartered includes financing of purchases of both, completed properties as well as properties still under construction. These properties include Industrial Units, Commercial Units, Residential Units and Shop-houses.
If you choose to prepay all of your loan amount, you need to give the bank at least 3 months written notice. If you choose to prepay a part of your loan amount, you need to give the bank at least 1 month of written notice. Additionally, also note that if you choose to prepay any amount within the initial 2 years upon loan disbursement, you will incur a charge of 1.5% on the amount that you have prepaid.
Standard Chartered provides a flexible loan tenures for the Standard Chartered Business Property Loan. The loan tenure ranges from 5 years and up to 25 years for properties that are newly purchased and a tenure of up to 30 years in case of refinancing of properties.
Standard Chartered provides a high financing quantum for the Standard Chartered Business Property Loan. Through this loan, you can enjoy financing of your property up to 80% on the purchase price of your property.
In case of refinancing or purchase of residential properties, Companies, Partnerships and Sole proprietors are eligible to apply for this loan. In case of refinancing or purchase of industrial or commercial properties, Individuals, Companies, Partnerships and Sole proprietors are eligible to apply for the Standard Chartered Business Property Loan.
According to the Urban Redevelopment Authority (URA), prices of private homes in Singapore rose 1% in 2017, bringing in fresh hopes of a recovery in the property market. However, the optimism would be curbed if the government decides to enforce measures to control prices.
09th January 2018