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Standard Chartered Home Loans in UAE
Features of Standard Chartered Home Loan
- 5 Minute Loan Application Process
- Super Fast Approvals
- Highly Competitive Rates(3.35% p.a.)
- Flexible Repayment Tenures (25 years)
- Loan Take-Over Facility
- Value Added Banking Services
- No Minimum Balance Requirement
- Shariah-Compliant Islamic Home Finance Option
Documents Required of Standard Chartered Home Loan
- Copy of Valid Passport
- Copy of Residency Visa (For Expatriates)
- Copy of a valid Emirates ID (For UAE Nationals)
- Salary Transfer Letter (For Salaried Only)
- Copy of Trade License (For Self-Employed)
- Property Details
Note: The bank may ask for documents if it sees necessary. For details, visit the nearest branch.
Standard Chartered Home Loan Interest rates
2 Standard Chartered Bank Home Loans
Home Suite
Features
- Priority banking services are provided on approval
- Home Finance is provided at a fixed interest rate of 1.85%
- Minimum salary of AED 10000 is required
Features
- Priority banking services are provided on approval
- Minimum salary of AED 10000 is required
- Home Finance is provided at a fixed interest rate of 1.85%
- Home Finance is provided on a reducing interest rate of 3.35% within fixed rate period, thereafter it will be repriced annualy based on Prescribed Margin + 12M EIBOR
- Salary transfer to SCB account is optional
- The loan is provided for a maximum tenure of 25 years
- Getting your property insured is mandatory
- 0.525% of the total loan amount is charged as processing fees
- Maximum loan amount provided is AED 18000000
- UAE Nationals: 20% of the property value should be paid as the down payment
Expats: 25% of the property value should be paid as the down payment - 1.05% of outstanding loan amount is charged on early settlement or AED 10,500 whichever is lower
Benefits
- Provides pre approval details
- Current account is provided for zero minimum balance requirement
- Additionals discounts are provided on regular transactions
- Provides top up facility
- Can get finance for under construction property
- Low processing fees
- Quick approval of loan
- Hassle free documentation
Saadiq Home Finance
Features
- This follows takaful principles
- Home Finance is provided at a fixed interest rate of 1.85%
- Minimum salary of AED 10000 is required
Features
- This follows takaful principles
- Minimum salary of AED 10000 is required
- Home Finance is provided at a fixed interest rate of 1.85%
- Home Finance is provided on a reducing interest rate of 3.35% within fixed rate period, thereafter it will be repriced annualy based on Prescribed Margin + 12M EIBOR
- Salary transfer to Standard Chartered Bank account is optional
- The loan is provided for a maximum tenure of 25 years
- Property insurance is compulsory; Life Takaful is not mandatory
- 0.525% of the total loan amount is charged as processing fees
- Maximum loan amount provided is AED 18000000
- UAE Nationals: 20% of the property value should be paid as the down payment(On ready properties)
Expats: 25% of the property value should be paid as the down payment(On ready properties) - 1.05% of outstanding loan amount is charged on early settlement or AED 10,500 whichever is lower
Benefits
- Saadiq finance is provided on low-profit rates
- It is based on sharia-compliant
- Quick processing of loan
- Low Processing fees
- The free debit card is provided on the approval of the loan
- Life Takaful is not mandatory
- 24/7 banking services are provided
Frequently Asked Questions
⭐ What is the processing fee charged on balance transfer?
A. There are no processing fees charged on availing balance transfer of home finance.
⭐ Is the home finance based on Sharia laws?
A. Yes. Standard Chartered Saadiq Finance is based on Sharia principles.
⭐ What are the benefits that can be availed on Standard Chartered Home loan?
A. Standard Chartered bank provides a free debit card on their home finance.
⭐ How much time does it take for approval?
A. Standard Chartered bank takes 2-7 days for the approval of the loan.
⭐ For how long the fixed interest rate is charged at SCB?
A. SCB charges fixed interest rates for the first two years of the loan.
About Standard Chartered
A leading international banking group, with a rich history of over 150 years, Standard Chartered Bank (SCB) has been present in the UAE since 1958. SCB offers a range of products under Islamic and Conventional banking and is one of the leading financial institutions in UAE. Their main objective is ‘to offer outstanding value to customers and clients by providing a knowledgeable, efficient and reliable service in a personal, helpful and responsive manner’.
Corporate Values of the Standard Chartered Bank:
- Knowledge
- Efficiency
- Reliability in Service
- Personal Approach
- Helpful and Responsive Mannerisms
Get in touch with Standard Chartered Bank Customer Care