Home Credit

Your home is undoubtedly your most treasured asset. That is why its maintenance and upkeep is of utmost importance. So while you invest in its renovation / extension, let us take care of all your expenses. This facility not only limits to home renovation / extension but also suffices for medical and educational needs.
Standard Chartered Home Loans gives you the unique feature of reducing you principal balance through partial and full pre-payments. This allows you to reduce your overall mark-up costs as and when you have access to additional funds. For the convenience of our customers our highly skilled relationship managers make it an easy process. We will disburse your loan within 15 days, provided that all the relevant documents are submitted on time.
Loans against owner-occupied residential property for pre-defined purposes of home improvement / renovation, financing of education or for medical treatment.

Special Features
Exclusive features available on Home Credit:
Loan amount of up to PKR 10,000,000 to fulfill your requirements
Repayment tenor ranging from 1 to 10 years
Loan to value maximum of up to 60 % of the property value
Minimum Net Income as low as PKR 20,000 per month
Markup rates for Mortgage Loan for Salaried is 17.00% & Self-employed is 17.50% per annum
To avail higher loan amount Standard Chartered Home Loans offers you the option of clubbing the income of your spouse and blood relative

Minimum age of the primary borrower should be >=25 years PKR. Incase of co-borrower the secondary borrower should be either >=21 if income is being clubbed or >= 18 if income is not being clubbed
Maximum age should be <=65 or retirement age at the time of maturity of the loan 1, 3, 5, 10 years floating rates and fixed rate option is also available Financing of property with value as low as PKR 800,000 Life and Property Insurance from the best companies and at the lowest insurance rates to safeguard your interests Processing fee is PKR 2,500 <= 1MM and PKR 35,00 > 1MM for approved and PKR 6,000 for unapproved / Self-employed / businessmen respectively.
Appraiser and Legal fees is PKR 4,000 and PKR 3,000 respectively

Documentation

Completed application form
NIC copy
1 recent picture
Property documents against which the loan is required
Employee Confirmation Certificate by authorised signatories for Salaried
Proof of business for Self-employed
Last salary slip & 3 month bank statement for approved company
6-month bank statement for Self-employed/unapproved companies OR Latest Tax Documents
Processing, Legal and Appraisal charges