How to get Mortgage Loan : There are many kinds of Bank to give such kind of loan. Here I will discuss about Standard Chartered Bank Mortgage Loan System. Standard Chartered Home Loan providing you attractive financing for a new house or an apartment. You can also get Home Loan for renovation, facelift, extension and furnishing work in your existing house or apartment.
Special benefits
- Lowest interest rate
- No personal guarantee or cash security required
- No prior account relationship required with Standard Chartered
- Fast loan approval process
- Early settlement and partial prepayment options
- Loans against land value if building plan is approved by Rajuk or similar authorities
- Option to avail home loan in installments, based on the amount of down payment arranged at every step
- Option to pay only interest during construction period
Exclusive features
- Step by Step Financing: You can get the home loan in steps, depending on how much down-payment you can arrange at every step. This greatly reduces the burden of having to pay the whole down payment at once.
- Plinth Level financing: You can get the home loan for purchasing an apartment that is still in the construction stage, provided that the foundation and the basic structure of the building have been completed. To get Home Loan, will no longer have to wait till the construction is over. This will help you choose your preferred apartment before others do.
Eligibility
- Professional Experience: At least three years of service/ professional/ business track records
- Income: Minimum monthly income of BDT 25,000
- Minimum Age: 25 years
- Maximum Age: 65 years at the end of the loan tenure or retirement age for service holders (whichever is earlier). For fully cash secured home loans, maximum allowable age of the applicant at the time of financing is 60 years
- Proposed Property: Any property on leasehold / freehold / private land in Dhaka & Chittagong metropolitan areas
Flexible Loan features
- Loan tenure of upto 20 years
- Loan amount up to BDT 7,500,000
- Financing available for up to 80% of property value
- Refinancing / loan takeover facility available
Repayment
- Repayment by Equated Monthly Installments (EMI)
- Interest calculated on monthly reducing-balance basis
Security
- Registered mortgage of the property or any other equivalent property in favor of Standard Chartered Bank
Interest rates
Standard Chartered now offers the best interest rates in the market for home loans. The interest rates are variable, and will be reviewed on a 6 monthly basis (after loan disbursement), based on 182-Day Government Treasury Bill rates. The interest rates will depend on the loan amount as follows:
| Loan Amount | Interest Rate (p.a.) |
|---|---|
| Up to BDT 15 Lacs | 12.50% |
| Above BDT 15 Lacs & up to BDT 20 Lacs | 13.75% |
| Above BDT 20 Lacs | 14.25% |
Above interest rates are as on 31st March 2009; interest rates are subject to change without prior notice.
Processing Fees
Loan Processing Fee: 1.5% of the loan amount + 15% VAT on processing fee
Takeover Loan
You can transfer your existing home loan at other banks or financial institutions to Standard Chartered Bank at attractive interest rates and make significant savings. Just visit any of our branches or call our call centre to know how much you can save. No processing fee is charged for Takeover Loans.
Accessible
At Standard Chartered, we believe in delivering our services to our customers’ doorsteps. Just call our 24-hour call centre at (02) 8961151 or 01819-399999 anytime, any day, and our trained sales representatives will visit you at your convenience to brief you on our Home Loan. They will help you understand the loan features and the detailed application process, and can even help you choose your dream home from among the most reputed real estate developers in the country. You can also visit any of our branches for more information.
So you can get mortgage loan from Standard Chartered Bank ltd.
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