• Standard Chartered Home Loan


    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

    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

    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

    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 24 Sep 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.

    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 Standard Chartered Home Loans

    To meet the different requirements of people, Standard Chartered has 4 types of home loan solution which are carefully designed to offer the best.

    • Home Suite
    • MortgageOne SIBOR Loan
    • HDB Home Suite
    • HDB Bridging Loan

    Features and Benefits of Standard Chartered Home Loan

    • 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.
    • 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 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 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.

    The interest rates for different home loan plans are as below.

    • HDB Bridging loans are offered at an interest rate of prime rate + 1.00% per annum. The prime rate is currently fixed at 5.75% per annum.

    • The interest rate for MortgageOne SIBOR is 1-month or 3-month SIBOR plus an additional bank margin. The deposits will earn an interest of 0.25% per annum.

    Interest rates are subject to change at regular intervals of time. Enquire with Standard Chartered about the exact interest rates before applying for a home loan.

    Standard Chartered Bank Home Loan Promotions

    The MortgageOne SIBOR promotion offers you a great way to save when you finance your dream home. Standard CHartered helps you reduce your monthly interest rates by offsetting the home loan interest rate with the interest earned on deposits. The 12-month SIBOR promotional package helps you manage your finances efficiently, as under this offer, home loan interest rates change only once in twelve months.

    Adding to the ongoing SG50 celebrations, Standard Chartered offers customers attractive rates on the MortgageOne SIBOR loan package. This promotion is valid until 31 August 2015.

    Period Interest Rates
    First Year 12-month SIBOR plus 0.50% (with a lock-in period)
    Second Year 12-month SIBOR plus 0.75% (with a lock-in period)
    Third Year 12-month SIBOR plus 1%
    Fourth year and later 12-month SIBOR plus 1.25%

    Eligibility for the promotional offer

    • To qualify for the promotional offer, customers need to meet certain criteria as listed below-
      • The availed minimum home loan amount needs to be atleast S$1,000,000.
      • This offer is applicable only to completed private residential properties.
      • The offer will not reprice any existing Standard Chartered home loan.
      • The MortgageOne SIBOR Promotion is not applicable on agent referral fees and on the Member-Get-Member campaign.

    Refer a friend to apply for a Standard Chartered home loan and get a referral fee for the same. This offer is valid till 31 December 2015. For HDB flats and other private properties. Customers can earn referral rewards of 0.12% on the loan amount, without any cap. The referral amount will be credited to your Standard Chartered account.

    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.

    The other financial products offered by Standard Chartered Singapore are as follows.

    Standard Chartered Home Loan - FAQs

    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.
    The minimum loan amount is S$30,000 under MortgageOne plan.
    MortgageOne, Home Suite and HDB Bridging loans come with no extra processing fee.

    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.

    You can make use of the simple home loan EMI calculator available on BankBazaar to find your loan amortization details.

    The documents required vary depending on your type of employment, property type, nature of applicant’s income and also the type of home loan. Generally, you will be asked for income proof, proof of identity and property-related documents. Kindly contact the bank for information on the list of documents that will be asked for during application.
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