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    With the mounting real estate costs, buying a property has become harder than ever. But, in this fast-paced world, everyone needs some private space at the end of the day. A home loan will help you buy your dream property which will give you a sense of accomplishment. Since buying a home is a huge investment, taking a loan is a wise option than spending all your savings.

    Standard Chartered home loan comes loaded with features like affordable interest rates, flexible tenures and exclusively crafted schemes to suit individual needs.


    You’re probably eligible for an Standard Chartered Bank Home Loan if you are

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    Standard Chartered Bank Home Loan Minimum Age

    Atleast 21 years

     Standard Chartered Bank Home Loan Maximum Age

    Less than 65 years

    Standard Chartered Bank Home Loan Eligible Employment Type

    Salaried / Self-employed
    with regular income

    Standard Chartered Bank Home Loan Minimum Income

    Earn more than the minimum
    income required


    Your Standard Chartered Bank Home Loan amount eligibility is based on these factors

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    Standard Chartered Bank Home Loan Minimum Salary

    EMI limited to about 50%
    of monthly income

    Standard Chartered Bank Home Loan Maximum Loan to property value

    Loan capped @ 80% of property value

    Standard Chartered Bank Home Loan EMI

    EMIs of other loans lower
    your eligibility


    Increase your eligible Standard Chartered Bank Home Loan amount by these steps

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    Standard Chartered Bank Home Loan Add Spouse as Co-applicant

    Make your spouse a co-applicant,
    and her income will add
    to your eligibility

    Standard Chartered Bank Home Loan Maximum Tenure

    Choose longer tenure loan up to 30 years

    Standard Chartered Bank Home Loan Add parents as Co-applicant

    Alternatively add your parents


    Documentation needed to apply for an Standard Chartered Bank Home Loan

    • 1. Copy of NRIC/Passport of all Applicants & Owners
    • 2. Latest Computerised Payslip (salaried)
    • 3. CPF Statement – Latest 12 Months Contribution History (salaried)
    • 4. 2 Years Income Tax Assessment (self-employed)
    • 5. Option to Purchase or Sale & Purchase Agreement (for new purchase)
    • 6. Tenancy Agreements (if any)
    • 7. Evidence of sale of existing property (if applicable)

    Standard Chartered Bank Home Loan DetailsUpdated on 20 Nov 2017

    Standard Chartered Bank Home Loan Details
    Interest Rate 1.68%
    Margin of Finance Up to 80%
    Loan Tenure 5 years – 30 years

    About Standard Chartered Home Loan Singapore

    A well-known British multinational banking and financial services company, Standard Chartered plays major role in most dynamic markets in the world. Standard Chartered has around 1700 branches in over 70 countries including South Asia, Middle East, Asia Pacific region and the Americas. The bank has been in the forefront of the Singapore financial scene for over 150 years. The first branch was opened in the year 1859 and received a Qualifying Full Bank license in 1999. Standard Chartered Singapore caters to the banking needs of its clientele by offering world-class investment and personal banking solutions.

    A leader in home loan and mortgage portfolio, Standard Chartered Home Loans will duly assist you in securing your dream home without any hassles.

    Standard Chartered offers different types of home loans to Singaporean citizens, Permanent Residents and Foreigners. The bank offers loans to purchase industrial properties, commercial properties, HDB flats, and private properties. Let’s take a look at features, benefits and various other aspects including interest rates and fee details of Standard Chartered Home Loans.

    Why Choose Standard Chartered Housing Loans?

    Standard Chartered home loans offer countless quality attributes that benefit the borrower, making the whole home loan process simple and hassle-free. All customers can apply easily through the bank’s web portal or directly by visiting the nearest Standard Chartered bank. The application requirements are minimal and up to 80% of the total property cost is financed. With a pioneer in home loan portfolio like Standard Chartered bank, customers can be assured of a peaceful property purchase experience.

    Types of housing loans offered by Standard Chartered

    Home Suite

    With SC Home Suite, you can construct your own home along with receiving a range of exclusive benefits. Under the Home Suite, Standard Chartered finances up to 80% of the value of your property. The minimum loan size under Home Suite is S$100,000.

    The HDB Home Suite

    The HDB Home Suite is an HDB housing loan that allows you to purchase an HDB flat in Singapore. The features of the HDB Home Suite are similar to the Home Suite, only that the HDB Home Suite only allows you to take a loan to finance the purchase of an HDB flat. Standard Chartered will fund up to 80% of the value if your property if you opt for HDB Home Suite.

    Loans for Commercial or Industrial Properties

    This loan is particularly meant to fund the purchase or construction of a commercial or an industrial property. You can choose from three different SIBOR-pegged interest rate packages when you choose this type of loan.

    The HDB Bridging Loan

    If you are awaiting payments from your existing property and wish to make a down payment towards your HDB flat, you can use the Standard Chartered HDB Bridging Loan that will help you cover for the down payment. The loan can be closed once you receive the funds after selling your existing property.

    MortgageOne

    MortgageOne is another type of mortgage loan offered by Standard Chartered. The product lets you offset the interest you pay on your mortgage loan through the interest earned on your fixed deposit account. Under this provision, your loan tenure is shortened to a great extent as most of your payments go towards reducing your principal amount while your interest payments are offset through your savings. In order for this, you will need to invest in the bank’s fixed deposit product nd interest earned on your fixed deposit account will be used to offset the interest in your mortgage loan.

    Features and Benefits of Standard Chartered Mortgage Loans

    Home Suite

    • Home Suite loans are offered as two different options - SIBOR pegged home loan and MortgageOne SIBOR.
    • Standard Chartered offer up to 80% financing for a Home Suite loan customer.
    • Borrowers do not have to pay any kind of processing fee when they avail this loan.
    • Home Suite customers can also open a current account can be opened with a MasterCard debit card for easy loan management.
    • A Platinum credit card with exclusive benefits including The Good Life deals, golf privileges, 24-hour Platinum concierge service and rewards program is also offered to Home Suite borrowers.
    • Standard Chartered also offers online banking and mobile banking services to borrowers in Singapore.
    • Customers applying for this home loan should not have any existing property loan liability.

    MortgageOne SIBOR Loan

    • The MortgageOne SIBOR Loan offers you a great way to save on your home loan, by offsetting the home loan interest rate with the interest rate earned on a deposit. Any additional interest rate earned will be directed towards paying back the outstanding principal amount. Customers can make deposit withdrawals anytime, to offset their home loans.
    • As a large portion of your monthly installments goes towards repaying the principal amount, the loan tenure is shortened.
    • The MortgageOne SIBOR Loan can be taken only to finance private residential properties.
    • The minimum loan amount required is SGD100, 000, with no processing fees charged by Standard Chartered.
    • The interest rates offered under a MortgageOne SIBOR Loan is generally pegged to the existing Singapore Interbank Offered Rate (SIBOR) and are priced at regular intervals of 1 month or 3 months.
    • For a MortgageOne 1-month SIBOR package, the home loan pricing is done on the first day of the loan disbursement. The next pricing will be done after a one month interval.

    HDB Home Suite

    • HDB home loan comes with advantages like easy approval, current account, insurance protection and up to 80% financing.
    • The interest rates for a HDB Home Suite loan are pegged to the existing SIBOR rates.
    • MSIG Insurance (Singapore) Pte Ltd offers home insurance and fire insurance protection to HDB Home Suite loan borrowers.
    • Customers can service their home loans with a current account and get a free cheque book along with a MasterCard Debit Card.
    • Standard Chartered also provides a credit card along with a HDB home loan and also offers online banking and mobile banking services to customers.

    HDB Bridging Loan

    • HDB Bridging Loans are offered at affordable interest rates of 1% plus the Prime rate, which is currently 5.75% per annum.
    • Standard Chartered does not charge any monthly installment fee, processing fees or upfront arrangement fee on home loan borrowers.
    • The bank offers an easy and fast HDB Bridging Loan application process to customers.
    • Standard also provides legal support to borrower to ensure that their home purchases are hassle-free.
    • Customers can also get consolidated e-statements for easy loan management.

    Standard Chartered Home Loan Interest Rates

    Standard Chartered MortgageOne Interest Rate

    Note: There is a lock-in period of 2 years. The rates are pegged to 12-month SIBOR and rates indicated are the 12-month SIBOR rate + the mentioned interest rate.  

    Year 12-month SIBOR-pegged interest rate (p.a.) FDR (limited period interest rate p.a.)
    First year +0.50% +0.88%
    Second year +0.50% +0.88%
    Third year +0.70% +0.88%
    Fourth year onwards   1.00% +0.98%

    The interest rate on other home loans will be calculated by adding Standard Chartered Bank’s 48-month Fixed Deposit Interest rate and a fixed margin. The 48-month FD interest rate currently stands at 0.50% p.a. You can contact the bank for further details.

    Eligibility Criteria for Standard Chartered Housing Loans

    The eligibility conditions vary depending on the type of loan scheme that you are applying for.

    The eligibility criteria for HDB Bridging Loan is as follows.

    • The applicant should be aged between 21 to 65 years.
    • The applicant must be a Singapore citizen or permanent resident who is selling a HDB flat or private property.
    • The customer must be buying another property from the HDB resale market or directly from the HDB.
    • All owners of the flat sold must be borrowers.
    • The maximum tenure of HDB Bridging loan is 6 months.
    • First-time buyers and contra-transactions between buyers do not qualify.

    The eligibility for Home Suite is as follows.

    • The applicant should have no outstanding home loans and should be aged between 21 and 65 years.
    • The minimum annual income requirement is $30,000 for permanent residents of Singapore and $36,000 for foreigners.

    For other schemes, your loan application will be processed based on your annual income, the bank’s prevailing credit policy and the regulatory requirements. Do contact Standard Chartered for more information on the eligibility criteria for other home loan schemes

    Documents to be submitted to the bank

    • Employment Proof – employment letter, computerized payslips, or letter of appointment
    • Income Tax Notice of Assessment for the last 2 years
    • Copy of NRIC, both the sides  
    • Valuation of the new property you wish to purchase
    • Proof of ownership of property and proof of agreement to sell the property
    • Marriage certificate, if applicable

    How to Apply for a Standard Chartered Home Loan

    You can apply for a Standard Chartered Home Loan by visiting the official Standard Chartered Singapore website and filling out the online application form. Applying online will also give you a range of exclusive benefits. You’ll also need to submit your supporting documents with your loan application, following which the bank will get in touch with you, clarify your details and process your loan application.

    Standard Chartered Home Loan for Foreigners

    The bank offers home loans to foreigners. The following documents need to be submitted to the bank if you are a foreigner:

    • Copy of valid passport
    • Proof of income – employment pass and employment letter obtained from the employer
    • A local guarantor
    • Latest computerized payslips

    Modes of Repayment

    • Repayments towards the loan can be made through internet banking. Just login with your credentials (any bank with which you have a bank account with internet banking active) and make the repayment toward your loan.
    • You can also visit the nearest Standard Chartered branch in Singapore and pay through available means at the bank.
    • You can also sign an agreement under which Standard Chartered Singapore will automatically, on a fixed monthly date until the tenure of the loan lasts, debit the repayment amount from your savings bank account.

    FAQs

    1. How do I apply for the bridging loan with Standard Chartered Bank?

      A. If you wish to apply for a bridging loan, you should also have applied for a home loan. The bridging loan is provided to pay for the 20% down payment on the main mortgage loan. The bridging loan has to be repaid separately.

    2. Can I open a fixed deposit account along with a mortgage loan under MortgageOne?

      A. Yes, you can. The interest earned on the FD will be used to offset interest towards your home loan.

    3. What is the maximum tenure that I can choose?

      A. In most cases, banks allow you to choose a maximum tenure of 30 years to repay your housing loan.

    4. Do I need to apply for the Standard Chartered Platinum Credit Card separately if I choose the Home Suite product?

      A. You need to evince interest in order to receive the Standard Chartered Platinum Credit Card. You will receive the card once your loan application is approved.

    5. Will the amount I borrow be insured?

      A. You’ll need to apply for insurance separately. Standard Chartered provides you with a wide variety of insurance options.

    6. How does the Standard Chartered MortgageOne SIBOR scheme work?

      A. Customers can deposit any amount of money in the MortgageOne current account. Customers will be offered the same interest as that for mortgage loans on two-thirds of the deposit, up to the loan principal amount. The remaining deposit amount will fetch a 0.25% interest. There is no maximum cap on the interest amount that can be earned through deposits. The total interest accumulated is used to offset the loan amount and the excess will be used to reduce the principal.

    7. What is the minimum loan amount that can be availed under MortgageOne SIBOR?

      A. The minimum loan amount is S$30,000 under MortgageOne plan.

    8. What is the processing fee for Standard Chartered Home Loans?

      A. MortgageOne, Home Suite and HDB Bridging loans come with no extra processing fee.

    9. How do I calculate the repayment amount for Standard Chartered bank home loans?

      A. You can use the loan calculator available on the bank’s website to find out details about repayment. You have to input basic details like loan amount, tenure, initial mortgage deposit and monthly deposit amount as applicable. The calculator will project the repayment schedule.

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