October 2, 2022
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How to get a personal loan from Standard Chartered, Nigeria

standard chartered

Standard Chartered bank has made it known to the public that they now give out loans, personal loans, to their customers interested in boosting already existing businesses or planning on setting up one. One major reason why this loan is spectacular is that it is not only limited to Nigerians, but Non – residents can apply for the loan too.

The Personal Loan from Standard Chartered bank is an all-purpose loan that can be used in any sector. The loan is designed mainly to solve financial problems in small and medium enterprises and to create an avenue for entrepreneurial activities / businesses.

Eligibility for the Standard Chartered Personal Loan (Nigerians and Non – Nigerians)

Age: For the personal loan, there is an age limit of 21 – 60 years.

Minimum Loan: This personal loan is restricted to a minimum of N175, 000.

Maximum Loan: As much as you may want it to exceed this limit, the personal loan is limited to a maximum of N20,000,000.

Minimum Salary: Standard chartered demands that the minimum salary for a Nigerian citizen seeking the personal loan should be N30,000 and for foreigners, there must be a minimum salary of N50,000.

Repayment Information

The personal loan has an interest rate of 1.083% per month and has a repayment period of 60 months.

What Documents are required to apply for the Standard Chartered Personal loan?

The following documents are required to apply for the personal loan:

  1. A completed application form.
  2. Bank statements for the previous three (3) months.
  3. Your pay slips for the last three (3) months.
  4. Letter of awareness from your employer to acknowledge the fact that you would be changing your salary account to the Standard Chartered Bank.

Key Features of the Standard Chartered Personal loan

The Standard Chartered Personal loan has some unique features. These features are:

  1. Zero security is required for loans. That is, there is no requirement for any collateral at all.
  2. Repayment of collected loans is simplified as funds can be related directly from your existing account in the bank.
  3. Should you run into the need of more funds, the Standard chartered bank can offer a top up as long as your repayments are regular for the past six months.
  4. You can make partial or full liquidation with no charges at all.
  5. Your previous loans can be transferred from other banks to the Standard Chartered bank. This means that the Bank would be responsible for paying off your previous loans from your earnings of course.

Note that, as earlier mentioned, you must domicile your salaries and allowances with the standard chartered bank and must provide a letter of awareness.

How to Apply for the Standard Chartered Bank loans

Step 1

Reach out to any Standard Chartered bank branch of your choice to apply and eventually access the personal loan.

Step 2

Fill out the application form indicating the amount required.

Step 3

Create an account with the Standard Chartered Bank if you don’t have an existing account.

Step 4

Supply the necessary documents.

Step 5

Finalize with the bank and receive the cash loan issued.

That’s all. Click here to learn more about this loan. Thanks for reading.

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