Standard Chartered Bank MortgageOne Loan

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  • Flexible repayment periods up to 25 years
  • Processing fees as low as 1%
  • Profit rates starting at 2.75% per year

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  • Dubai
  • Abu Dhabi
  • Sharjah
  • Ras Al Khaimah
  • Ajman
  • Other

Standard Chartered is well-known for offering numerous schemes to help common people accomplish their goals. For instance, you would love to take possession of your own apartment in Dubai or Sharjah. However, you may find it a bit difficult to manage all the money at once. Standard Chartered Bank has introduced several home loans in the UAE to help people realize their goals. 

Before we discuss one of the major initiatives of the bank i.e. Standard Chartered Bank MortgageOne Loan, let us understand why do you need to avail yourself of a home loan at all? Property valuation is something that keeps going up over a period of time. Therefore, the amount you require today to take possession of your dream house might get doubled in the coming 10 years. That is why you need to avail yourself of the facilities of a home loan.

Features & Benefits of Standard Chartered Bank MortgageOne Loan

Standard Chartered Bank MortgageOne Loan is often referred to as MOA. You can link your current account to the dedicated MortgageOne loan account to take the benefits of this scheme. This is perhaps the most effective mortgage loan in UAE for its multiple facilities. The key features of this loan are:

  • Annual interest starts from as low as 2.5%
  • The highlight of Standard Chartered Bank MortgageOne loan is to repay the capital amount and the interest is taken care of subsequently by calculating the difference between the available balance in your current account and the deficit amount (i.e. loan to be repaid)
  • You can enjoy benefits like withdrawing the interest available to you on your linked current account any time you want
  • This helps lower the tenure of repayment significantly
  • You can apply for this loan with zero account balance as well
  • You can avail a home loan of up to AED 18 million 

These are the key features of the Standard Chartered MortgageOne loan. The flexibility and reliability are the two pillars that make this plan extremely firm. If you are still looking for a Standard Chartered mortgage loan in UAE, check out the details of this particular loan in the upcoming sections.    

Interest Rates for Standard Chartered Bank MortgageOne Loan

Name of Loan

Maximum amount paid

Maximum tenure of repayment

Rate of interest

Standard Chartered Bank MortgageOne Loan

AED 18 million

25 years

2.5% per annum

Documents Required to Avail Standard Chartered Bank MortgageOne Loan in UAE

Every bank needs specific paperwork to sanction a loan. Standard Chartered Bank has also laid down a few rules related to the MortgageOne loan. The document requirements are different for UAE nationals and non-UAE expatriates. 

For UAE nationals For Non-UAE Expatriates
  • Your original passport and visa along with their photocopies
  • The original Emirates ID card
  • Employment proof (appointment letter)
  • Salary slip for the salaried individuals
  • All documents related to the property that you wish to buy
  • Proof of UAE residence visa
  • Original passport and a photocopy
  • Latest salary slips or pay slips 
  • Copy of your Emirates ID
  • For self-employed individuals, audit reports and trade license are required

These are very basic details required by the bank to proceed further with the Standard Chartered Bank MortgageOne loan.   

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Eligibility Criteria for Standard Chartered Bank MortgageOne Loan in UAE

The comprehensive breakdown of Standard Chartered Bank MortgageOne loan eligibility requirements is provided below for both UAE citizens and ex-pats.

For UAE Nationals For Non-UAE expatriates
  • You must be 21 years of age to apply for the loan
  • Your age should be 70 or below during the period of maturity of the loan
  • Your minimum monthly salary has to be AED 15,000 
  • You must be 21 years of age to apply for the loan
  • Your age should be 70 for Self-employed or 65 for Salaried below during the period of maturity of the loan
  • Your minimum monthly salary has to be AED 15,000 

How to Apply for Standard Chartered Bank MortgageOne Loan

Via Policybazaar.ae

  • On Policybazaar.ae and click on "Home Loans"
  • Please complete the lead form that is to be found on the right
  • Once you submit the form, you will be taken to the home loans quotes page
  • Compare your options and get the best Standard Chartered Loan
  • Fill the application form and go through the information provided
  • Submit the form with all necessary  attachments
  • Upon completion of the loan application processing, a bank representative will get in touch with you to guide you further with the process

Via Standard Chartered Bank website

  • Go to the official website of Standard Chartered Bank in the UAE (https://www.sc.com/ae/)
  • Choose the MortgageOne Loan from the four types of loans available
  • Click "Apply now" after selecting the type of loan
  • Personal details including your name, phone number, and active email address must be entered
  • Then select "Go"
  • The remaining fields must then be filled up carefully such as birthdate,  career, monthly income, gender, place of residence and contact information 
  • You must now decide on the loan amount you desire to draw from the bank
  • Select "Proceed"

Standard Chartered Bank MortgageOne Loan Calculator

You may readily find and determine the total monthly payments with the help of the Standard Chartered Mortgage calculator. It is an online feature that aids in financial planning. You only need to submit a few facts to access your financial information:

  • Specify the amount of loan you wish to procure
  • Mention the tenure of repayment
  • Choose the rate of interest to be paid per annum

You will find your EMI for your Standard Chartered MortgageOne loan after entering the necessary information. 

Terms and Conditions of Standard Chartered Bank MortgageOne Loan

The following are the terms and conditions that apply to the Standard Chartered Home Loan:

  • The bank will have complete discretion over the home rate and financing approval
  • The products for home financing are only available to UAE citizens
  • Please take note that the calculator's numbers are simply being used as examples. The finance amount is typically determined at 75% of the value of the property. Additionally, the client's eligibility will be used to determine the ultimate profitability rate and finance amount
  • It might be altered during approval
  • The chosen fixed-term period and the required qualifications are used to establish the fixed-rate
  • For processing costs, customers are not required to provide standing instructions or cheques

Top Reasons To Choose Standard Chartered Bank MortgageOne Loan

Whatever loan services you wish to obtain, Standard Chartered is committed to providing you with the most favorable home loan options at reasonable rates and costs. It goes without saying that Standard Chartered has excellent customer service strategies that enable every customer to feel special. Anyone can contact Standard Chartered experts at any time for guidance on real estate or home loans.

If you are looking for the best mortgage loan in the UAE, consider Standard Chartered Bank MortgageOne loan to make your dream come true. 

FAQs

Who is eligible to avail of the benefits of the Standard Chartered Bank MortgageOne loan?

UAE residents and non-UAE expatriates are eligible for the plan. You should produce all necessary documents to avail of the loan.

Can I withdraw the amount deposited as interest?

Yes, you can withdraw the amount deposited in your account as interest any time you want.

 

How can I check the amount of interest saved every month?

The bank issues a monthly MOA statement where details like the amount of interest saved are mentioned clearly.

Is an early settlement of the loan possible with Emirates Islamic Home Loans?

Yes, users have the option to settle a home loan early. However, an early settlement fee will be applicable here.

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