Based on research and not influenced
This is based on rigorous research, testing and not influenced by our earning potentials.

Requirements for Standard Chartered Bank Loans

  • Post author:
  • Post last modified:06.02.2023

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:

 


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:


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:

Trade and Working Capital Solutions

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.  
Term Loans

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.  
Wealth Management Overdraft

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

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.

Standard Chartered Bank Loan Calculator

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:

Two columns
Vertical
Horizontal
Loan Calculator
Summary
Name Total
"{{getWooProductName}}" has been added to your cart

Standard Chartered Bank Loan FAQs

Can I get a loan for my personal use with Standard Chartered Bank?

Standard Chartered Bank offers unsecured personal loans for salary earners to use as they see fit. These loans come with the opportunity to request top-up and convenient repayment methods.  To find out more about the Personal Loans, revisit this article for its requirements, interest rate, and more. 

How long does it take to get a loan from Standard Chartered Bank?

The loans that Standard Chartered Bank offers have varying rates of disbursement. Some of the loans are quick and are received within minutes while others take as long as a few days. This also depends on the documentation required for each loan. 

Can I get a loan for my business from Standard Chartered Bank?

Standard Chartered Bank offers a good list of loans for businesses to take advantage of.  You can look through this article to pick the one that suits your business needs. 

Are there any quick loans I can access with Standard Chartered Bank?

The quickest loan available on Standard Chartered Bank loans list is the Personal loan. this loan is best for salary earners who want access to quick cash for various personal needs. As an unsecured loan, it requires no collateral. 

What are the collaterals required for taking loans?

Not all Standard Chartered Bank loans need collateral. Some of the loans are unsecured and so can be accessed without one. For loans that require collaterals, the requirement section of each loan carries these collaterals.

How do I pay back my loans?

The loan repayment channels for most standard Chartered Bank loans are automatic deductions from your account lodged with the bank. In case you need to make a payment before your due date, you can reach out to the bank’s customer care service for more details. 

Where can I find out more about these Standard Chartered Bank loans?

The Standard Chartered Bank loan listing page details all their loans. 

 

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.  

You can get other funding options such as loans from other providers.

Lois Samari
You are the first in our research hence, we rallies around doing rigorous checks, testing and analysis to help you make a good decision on products and services. Meanwhile, items providers' final views are superior to ours.
0 0 votes
What do you think?
Subscribe
Notify of

0 Feedback
Inline Feedbacks
View all comments