What is Standard Chartered Personal Loan Pre Closure Charges?

I wanted to pre-close my Standard Chartered Personal Loan which I had taken around January 2024. To know about the process, I got in touch with the bank. The bank executive asked me when I had availed of the loan and following that told me that I was not eligible for that. Following that, he told me why I was not eligible and also about the standard chartered personal loan pre closure charges. 

What are the SCB Personal Loan Preclosure Charges?

According to the bank executive, a person can only be eligible for the preclosure of a personal loan when he/she has paid 12 EMIs. 

After that, the person has to give the bank a 21 day notice and pay preclosure charges of 5%. 

Following this, the bank employee also told me about the process of prepaying the loan amount online. I have added the steps below.

• Go to the

  Standard Chartered website

  . 

• Next, enter your details such as your 8-digit loan account number, name, and pre-closure amount, etc.

• Now, click on Validate.

• After that, select the bank account from which you want to make the payment. 

• Enter your Net banking credentials. 

• Finally, click on Confirm Payment Amount. 

And that’s it. Now, I have to wait for a few more months before I am eligible to prepay my personal loan. I hope these steps about standard chartered personal loan preclosure charges have been helpful. 

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I had to take a personal loan for some emergency family medical expenses. That is when I had enquired about Standard Chartered personal loan pre closure charges. After making all 12 EMI payments, you can prepay your loan with 5% pre closure fees at any time by giving the bank 21 days' notice.

What are Standard Chartered Bank Personal Loan Preclosure Charges?

As I already mentioned, 5% which we can pay after 12 EMI payments. With online applications, you can obtain a personal loan at a reasonable interest rate and a discounted processing charge of up to 2.25% of the loan amount. In addition to the necessary paperwork fees, there is an upfront processing fee that can not exceed 3% of the loan amounts. When the loan is disbursed, this fee will be subtracted from the total amount. Now that you know Standard Chartered personal loan preclosure charges, I will tell you the benefits of taking a personal loan from Standard Chartered.

1. Anytime you need money, even in an emergency, you can get an immediate personal loan online.
2. Applications for personal loans are completely paperless and just need the bare minimum of paperwork.
3. Smooth interest rates and savings on loan application processing expenses are available from Standard Chartered for personal loans.
4. Take advantage of their adjustable terms and pay back Standard Chartered Bank at any point during the course of 12 or 60 months.
5. Their personal loans include a part-payment option that can be used after paying at least 12 EMIs, up to a maximum of 25% of the total amount owed in a year.

I hope now you know what are the personal loan preclosure charges Standard Chartered. Get Upto ₹10 Lacs Instantly in Your Bank Account With NoBroker Personal Loan Service. Read More: What are the ICICI Personal Loan Preclosure Charges?