Standard Chartered Home Loan

Best Home Loans to buy your dream home

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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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With over 80,000 employees, Standard Chartered is a promising international banking group that enjoys its 150-year-old history and expertise in some of the most dynamic markets globally.  Initially, Standard Chartered opened its first branch in Sharjah, UAE back in 1958. Over time, the group started introducing a pool of branches all over the globe. Today, the regional hub of Standard Chartered is in Dubai. It is also the hub for its Islamic Banking arm, Standard Chartered Saadiq.

The bank aims to provide excellent value to its clients by offering efficient, knowledgeable, and genuine services related to banking, investments, protection plans and mortgage loans. Alongside, Standard Chartered provides a vast pool of Islamic and conventional banking services for every kind of customer including retail, commercial, private, and corporate. Besides this, the bank takes a phenomenal customer approach with utmost professionalism. In a nutshell, Standard Chartered is dedicated to helping you sort your finances in the best way be it banking, protection or mortgage loans.

Standard Chartered Home Loan Plans

Below is a list of different types of Standard Chartered home loans. 

  1. Standard Chartered Home Suite
  2. Standard Chartered Saadiq Home Finance
  3. Standard Chartered MortgageOne Account
  4. Standard Chartered SaadiqOne Account

Standard Chartered Home Suite

Holding a comprehensive suite of features, the home suite bundle is one of the best loan types that offer additional features to individuals who are looking forward to buying their dream house. Following are a few key details about this product:

  • The interest rate begins from 2.22% per annum
  • No requirements for life insurance 
  • Easy balance transfer

Apply Now

 

Standard Chartered Saadiq Home Finance

Verified by an independent Shariah Supervisory Committee, the Saadiq Home Finance has its foundation based on the Ijarah (rent to own) idea. It offers:

  • Competitive Profit rate beginning from 2.22% per annum 
  • Fast approval process within 2-7 business days

Apply Now

 

Standard Chartered MortgageOne Account

Also referred to as the MOA, the MortgageOne Account is a Standard Chartered Bank current account that is associated with the home loan facility. Note that the MortageOne account is accessible in AED only. The key features include:

  • Brilliant Interest rates starting from 2.5% per annum 
  • Attractive benefits and facility of saving and withdrawing 
  • Shorter loan tenure 
  • Zero minimum balance requirement

Apply Now

 

Standard Chartered SaadiqOne Account

The SaadiqOne Account (SOA) is typically an Islamic variant of the MOA. It is Shariah-compliant. Similar to MOA, the SaadiqOne current account is linked to the Home Loan facility. SOA is available across UAE Dirham only. You can get features like:

  • Profit rates beginning from 2.5% per annum 
  • Zero minimum balance requirement 
  • Shorter finance tenure

Apply Now

 

Features and Benefits Of Standard Chartered Home Loan

Although each of the loan types comes with its set of features and benefits, there are a few features that come in handy irrespective of the loan you choose. To make your decision more robust and accurate, here is a brief list of exclusive features of home loans that Standard Chartered offers. Let’s have a look:

  • Enjoy the benefits of high loan amount up to AED 18 million
  • Competitive rates and pricing 
  • Flexible and comfortable tenures up to 25 years 
  • Priority Bank account with zero balance requirement 
  • Fast approval process 
  • Convenient banking feature with 24*7 online facility.

Eligibility Criteria of Standard Chartered Home Loan & Mortgage Loan

Given below is a comprehensive list of Standard Chartered home loan eligibility criteria for both UAE nationals and ex-pats to apply for home loans and mortgage loans. 

Eligibility Criteria For UAE Residents (Expat) 

  • Minimum Age Requirement: 21 years old or above 
  • Maximum Age Requirement: 
  • Self Employed: Should be 70 years old during maturity period 
  • Salaried: Should be 65 years old at the time of maturity 
  • Minimum Income: AED 15000 per month 

Eligibility Criteria for UAE National 

  • Minimum Age Requirement: 21-year-old or above 
  • Maximum Age Requirement: Should be 70 year old during maturity period 
  • Minimum Income: AED 15000 per month 

Interest Rates for Standard Chartered Home Loans

Type of Loan

Maximum Tenure

Maximum Amount

Rate of Interest

Home Suite 

25 years 

AED 18 Million 

2.22%

Saadiq Home Finance

25 years

AED 18 Million 

2.22%

MortgageOne Account

25 years 

AED 18 Million 

2.5%

SaadiqOne Account 

25 years 

AED 18 Million 

2.5%

Documents Required for Standard Chartered Home Loans

Note the documents required to apply for Standard Chartered Mortgage loan:

Documents Required for UAE Residents (Ex-pats) 

  • Latest payslip, employment letter and salary slip
  • Copy of resident Visa and Passport
  • Copy of Emirates ID 
  • Property ownership certificate/documents 
  • Bureau Consent form 
  • UAE Fund Transfer System Consent Form
  • For Self Employed 
  • Share Certificates 
  • Trade licence 
  • Audited Financials of last 2 years 
  • For Buy-out Cases
  • Sales Purchase Agreement 
  • Title Deed 
  • Liability Letter 
  • Oqood and Developer Request 
  • Memorandum of Understanding 

Documents Required for UAE Nationals 

  • Copy of Emirates ID 
  • Copy of Passport 
  • Payslip/salary slip 
  • UAE Fund Transfer System Consent Form 
  • Bureau Consent 
  • For Self Employed 
  • Share Certificates 
  • Trade licence 
  • Audited Financials of last 2 years 
  • For Buy-out Cases
  • Sales Purchase Agreement 
  • Title Deed 
  • Liability Letter 
  • Oqood and Developer Request 
  • Memorandum of Understanding

How to Apply for Standard Chartered Home Loans & Mortgage Loan? 

Via Policybazaar.ae

  • Go to Policybazaar.ae and head to the home loan section. 
  • Fill out the lead form given on the right. submit the form and you will reach the quotes page of home loans. 
  • Compare and choose the Standard Chartered Loan you find the best. 
  • Proceed to fill out the application form. 
  • Attach all documents and submit the form. 
  • A representative from the bank will contact you once the loan application has been processed. 
  • Take the procedure further with the representative. 

Via Standard Chartered Bank Website

Applying for a Standard Chartered mortgage loan is quite easy. First and foremost, you need to select the type of home loan among the four types of loans offered by the bank. Consequently, follow the steps listed below:

  • Select the loan type and click on 'Apply now' 
  • Fill in your name, mobile number, and email address. Select proceed
  • Next, fill in the rest of the required information. This includes your monthly income, date of birth, gender, profession type, location, and contact timing 
  • At this stage, you need to select your desired loan amount 
  • Click ‘proceed’ 

At this stage, your application gets submitted and a bank executive gets back to you soon. You are notified of your loan approval on the registered mobile number/mail ID. For detailed information, you can write to Standard Chartered. 

Standard Chartered Home & Mortgage Loan Calculator

The Standard Chartered Mortgage calculator helps you to determine and calculate the total home loan equal monthly instalments in a facile manner. It is an online tool that helps plans your finances.. All you need to do is enter a few details following which you can get your finance details:

Details to be Entered

  1. Loan amount that you want to avail 
  2. Desired loan period for availing Standard Chartered home loan 
  3. Applicable annual interest rate 

Upon entering the details and proceeding in the Standard Chartered home loan calculator, you will find your EMI towards your Standard Chartered home loan. You can also alter the variables (loan amount/tenure) to fit the instalment in your budget. 

Terms & Conditions for Standard Chartered Home Loans

The terms and conditions applicable for Standard Chartered Home Loan are as follows:

  • Home rate and finance approval will be under the sole discretion of the bank.
  • Only the UAE residents can access the home finance products.
  • Note that the figures displayed in the calculator are for illustrative purposes only. Generally, the finance amount is calculated at 75% of the property value. In addition, the final profit rate and finance sum will be calculated on the basis of the eligibility of the client. It is subject to change during approval. 
  • The fixed rate is determined as per the selected fixed-term period and eligibility criteria. 
  • Customers do not need to give any standing instruction(s) or cheque for processing fees. The application processing fee is waived on the basis of Primary Sale and Buy-out. 
  • In case the blanket valuation report stays valid during the time of property valuation, the fees for the same get waived.

Why choose Standard Chartered Mortgage Loans? 

While you might still get dicey about taking a home loan in UAE, you can rest assured about the prestige and reliability of Standard Chartered Bank. Being well-known and prominent, taking a home loan through Standard Chartered denotes that you don't have to worry about the specifics a lot. All you need to check is your eligibility for the loan and there you go.  

Irrespective of what loan services you are looking forward to gaining, Standard Chartered is dedicated to serving you with the smallest benefits of home loan facilities at competitive rates and pricing. Needless to say, Standard Chartered takes a phenomenal customer service approach that helps customers strengthen their decision of opting for a Standard Chartered home loan.

The best part is, that individuals can get in touch with the experts at Standard Chartered anytime to seek property/home loan advice. The team at Standard Chartered is highly responsive, professional, and genuine and is dedicated to providing the best services to its customers. 

FAQ's

Which individuals can apply for a Standard Chartered Mortgage Loan?
  • UAE residents 
  • Salaried or self-employed professionals
  • Existing/new clients of the bank 
  • Individuals who have a minimum income of AED 15,000 

 

 

Do Standard Chartered finance any property in the UAE?

Yes. Standard Chartered finance completed residential properties in Leasehold and Freehold areas in Abu Dhabi and Dubai.

What is the finance amount that I can qualify for?

Initially, the individuals need to meet the Standard Chartered home loan eligibility criteria. Once an individual meets the requirements, they are qualified to take up to AED 18 Million as loan amount on any residential or completed property in accordance with the list of approved developments of the bank.

Can I convert my existing Standard Chartered Home Loan to Mortgage One Account?

Typically, yes. The option of converting the current/existing home loan facility to a MortgageOne account is available. For detailed information on this, contact your relationship manager or Mortgage advisor. You can even contact the Home Finance Service Desk of Standard Chartered Bank.

What are the reasons for my Standard Chartered Home Loan rejection?

Some of the reasons for your home loan rejection could be: 

  • Unstable job 
  • Property valuation problems 
  • Poor credit score
  • False documentation or information 
  • Loan eligibility criteria limitations 
  • High-level debt 
  • Multiple existing loans

 

What are the factors that determine Standard Chartered home loan eligibility?

Some factors that determine home loan eligibility at Standard Chartered are:

  • Loan amount 
  • Age 
  • Employment status 
  • Property type 
  • Income pattern 
  • Expenditure pattern 
  • Credit score