Personal loans are the best way to obtain quick funds whenever a sudden financial crisis springs up. Standard Chartered Personal loan is a multipurpose loan that helps you survive any financial crunch when you do not have enough savings in your account. You can use the loan fund for varied reasons like home renovation, child’s education, travelling and medical expenses. With Standard Chartered personal loans, one can be confident of facing any economically demanding situation.
You’re probably eligible for an Standard Chartered Personal Loan if you are
At least 21 years old
Less than 65 years old
Salaried or self-employed
with regular income
Earn more than the minimum income required
Your Standard Chartered Personal Loan amount eligibility is based on these factors
Minimum income required
P290,000 per annum
Maximum allowed personal loan is P2000000
EMIs of other loans lower
Increase your eligibility for Bank Personal Loan amount by these steps
Pay off your credit card bills
Choose longer tenure loan up to 3 years
Documentation needed to apply for Standard Chartered Personal Loan
- 1.PhotoCopy(Anyone with signature) of your Passport,Driver's License,Digitized TIN ID ,Voters ID,GSIS/SSS ID,PRC ID
- 2.A photocopy of latest income tax return statement duly stamped and received by the Bureau of Internal Revenue (BIR)
- 3.Original copy of the certificate of employment
Standard Chartered Personal Loan DetailsUpdated on 16 Jan 2017
|Interest Rate||1.1% per month|
|Tenure||1 - 3 years|
|Processing Fee||P1500 or 4% of approved loan amount whichever is higher|
Features of Standard Chartered Personal Loan
- Low interest rates: With interest rates as low as 1.1% per month, Standard Chartered Personal Loan is the most sought after product in today’s financial market. With some math, you will be able to figure out that you will be paying only Php32 for every Php1000 as interest.
- No collateral and deposit requirements:Standard Chartered’s personal loan is a non-collateral, multi-purpose loan which one can avail with minimum paperwork.
- High Loan Coverage: Standard Chartered offers personal loans ranging from Php20,000 up to a maximum of Php 2 Million which the borrower can use for any personal financial requirement.
- Easy repayment options: With loan tenors ranging up to 48 months, borrowers can choose a tenure they are comfortable with.
- Hassle-free processing: With facilities like door-to-door documents pick-up, one can use the online application service to apply from the convenience of your home. Also, personal loan proceeds is directly deposited to the personal account of the borrower.
- “Credit Extra” Personal Loan:With the complimentary MasterCard provided with the personal loan, the borrower can get credit points every time he uses the credit card. Also, the annual fee on the credit card is waived for the duration of the loan.
Standard Chartered Personal Loan Eligibility
- The age of of the applicant should be at least 21 years with an upper cap of 65 years upon loan maturity.
- The applicant should be a Filipino or a Foreigner, residing in the country for a certain duration.
- The minimum gross annual income should be at least P290,000 and should hold a credit card in the Philippines issued by a different financial institution.
- The home or office address of the applicant should fall within the radius of Standard Chartered’s serviceable regions. (A list of regions serviced is available on the official website of the bank in Philippines)
- The aspirant should have an active landline telephone at home/mobile phone coupled with a landline phone at business/office address.
Standard Chartered Personal Loan Requirements
•A photocopy of latest income tax return statement duly stamped and received by the Bureau of Internal Revenue (BIR).
•COE (Certificate of Employment) Original Copy
•Photocopy of one valid ID with authorized signatory which can be passport, driving license, Unified multi purpose ID or BIR TIN ID.
•A valid ID proof which can be the Work Permit, Alien Certificate of Registration or the Diplomat ID.
•Foreign passport with name, photo, signature and residence address that is not expired.
•The applicant should also submit a photocopy of Visa stating Visa’s validity.
•Special Investor’s Resident Visa Holder should submit a photocopy of SIRV identification card.
In addition to the list provided above, you will also be required to provide paperwork relating to your income such as recentmost payslips.
Interest Rates & Fees
The interest rate and list of fees will be communicated to you by the bank’s representatives during application. You can also visit the nearest branch for further information regarding rates. One can avail a monthly rate as low as 1.1 percent for a loan amount of P500,000 with a specified loan tenor.
FAQ's about Standard Chartered Personal Loan
- I have signed up for for a personal loan from Standard Chartered. When will the first amortization installment be debited from my bank account?
- I am a foreigner residing in the Philippines on the basis of my job assignment. Is there a cap on the maximum loan tenor I can avail?
- How do I get in touch with Standard Chartered for an update on my personal loan application?
- Is there a collateral required to secure the EZ Loan from Standard Chartered?
- Is there a residency limit for foreigners to apply for a personal loan from Standard Chartered?
Your first installment will be debited after 30 days from the loan booking date for loans with a tenor of 24 months and above. For the actual due date every month, please refer to the loan contract copy or contact the customer service department.
Foreigners can avail a maximum loan tenor up to the extent of validity of their visa or 36 months, whichever is earlier.
You can call the centralized customer service wing on 830-1111 for an update on your loan application. The customer service is operational 24/7.
Since this is an unsecured loan, there is no collateral required in any form to secure the loan amount. The loan is approved purely on the basis of your eligibility and income.
Yes. The loan applicant should be residing in Philippines for atleast an year before being considered eligible for a personal loan.