Standard Chartered salary based loans

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Requirements for a Standard Chartered salary based loan

  • You should be employed by an approved company
  • You should have been receiving your salary through Standard Chartered for 3 months
  • If you have a new Standard Chartered account then you have to provide 2 months bank statements from your previous bank and at least one “salary credit through your Standard Chartered account”
  • Your recent payslip
  • A copy of your employment contract
  • Your original national ID
  • Proof of residence

Proof of residence can be a recent utility bill or letter from your employer stating your address.

  • You should be aged between 21 and 65 to qualify

Loan conditions of Standard Chartered’s salary based loan

  • Maximum amount to borrow

You can borrow a maximum of $500 000

25% per annum

  • Establishment fee or Origination fee

5% of the loan amount

  • Maximum repayment period

The loan is repaid in monthly installments of between 36 and 48 months.

  • Minimum amount of salary to qualify

You should be earning a salary of more than $4 500 to qualify for Standard Chartered’s salary based loan.

  • Top-up loan

You can borrow more money through the salary based loan facility after 9 months.

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