Standard Chartered Bank is a global banking institution with a presence in several countries, including Nigeria. The bank offers a wide range of products and services in retail; wealth management; commercial; corporate and institutional; private, digital and transaction banking business.
The bank also offers personal loans to eligible individuals.
Standard Chartered bank Nigeria Personal Loan
Standard Chartered offers the Personal Loan to both salaried and non-salaried individuals to help them meet their urgent needs. The bank also provides a top-up to borrowers who require additional financing during the loan tenure, as long as they have been making regular repayments.
Requirements
- Six months bank statement from your salary account.
- Valid ID for each signatory (International Passport, National Driver's license, National ID Card).
- 1 passport photograph.
FAQs About Standard Chartered Personal Loans
What is the minimum and maximum loan amount I can borrow?
The minimum loan amount accessible is N30,000 and could rise to N200,000.
What is the loan tenure or repayment period?
The loan tenure, or repayment period, for this loan is typically, six months. However, depending on your repayment history and credit score, loan terms could range from 12 to 60 months.
What is the interest rate for Standard Chartered Personal Loans in Nigeria?
Standard Chartered Personal Loans attracts a monthly interest rate of 2.5%.
Do I need collateral to secure a Standard Chartered Personal Loan?
You do not need collateral to secure a Standard Chartered Personal Loan. However, the bank may require other forms of assurance, depending on your financial profile.
How long does it take to get loan approval?
Approval for the Standard Chartered Personal Loan is granted within 24 hours of making the application.
What documents do I need to apply for a Standard Chartered Personal Loan in Nigeria?
The required documents include proof of identity, proof of income, bank statements, and other documents that verify your financial standing.
What can I use a Standard Chartered Personal Loan for?
You can use Standard Chartered Personal Loans for various purposes, including paying for medical expenses, education, home renovation, travel, debt consolidation, or other legitimate financial needs.
How is the loan disbursed?
Standard Chartered typically disburses the Personal Loan in the form of a lump sum directly deposited into your bank account, although the disbursement methods can vary.
How to Apply for a Standard Chartered Personal Loan on nairaCompare
1. Click on ‘Standard Chartered’
2. Read through the information on the product page to get more details about the product.
3. Click on ‘Apply’ to begin the application process.
4. Fill in your personal details.
5. Submit your application form for review and processing.
6. After successfully reviewing your application, you will receive an email notification confirming your application.
Before applying for a loan, it is important to compare options in order to select a loan that’s best suited to your needs and circumstance. nairaCompare has a wide range of loan options you can compare and choose from.
Visit nairaCompare and start comparing Standard Chartered Bank loans to loans from other trusted providers!
More information about the Standard Chartered Personal Loan
- The Standard Chartered Personal Loans are fully unsecured with no security.
- The bank can help you move your loan from another bank to take advantage of Standard Chartered’s competitive terms.
- Repayment can be made directly from your Standard Chartered account.
- You can also make free partial or full liquidation at your convenience through the bank’s 24/7 online banking.
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Don’t forget to visit nairaCompare to learn more about the Standard Chartered Personal Loan and other loan products.
Taiwo Temitope-Adesope
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