SGDLoan.com – When considering a loan from Standard Chartered Bank, whether for personal needs, business growth, or leveraging your property, it’s essential to have a deep understanding of each product’s features, requirements, and benefits.
Singapore offers a mature financial environment, and Standard Chartered Bank remains a trusted financial institution for locals and expatriates. From competitive interest rates to streamlined online applications, the bank has made borrowing accessible and flexible to support both short-term and long-term financial needs.
Before applying, knowing the details of the loan types offered, who qualifies, and how repayments work can help ensure the right borrowing decision. The following sections provide a complete overview of what you need to know.
Overview Of Standard Chartered Bank Loans
Standard Chartered Bank in Singapore offers a robust portfolio of lending products designed to meet various individual and business needs.
Whether you’re looking to cover medical bills, renovate your home, invest in your business, or get fast cash using your credit card limit, there’s a suitable loan from Standard Chartered Bank for you.
Loan Types Available:
- Personal Loans – Flexible unsecured loans for general financial needs with quick disbursement and straightforward applications.
- Business Loans – Solutions tailored for SMEs and large enterprises, including working capital and trade financing.
- Loan on Credit Card – Quick-access funds using your available credit card limit, usually with lower processing hassle.
- Loan Against Property – Secured loans for higher loan amounts, using your residential or commercial property as collateral.
Each product comes with distinct eligibility conditions, interest rates, repayment schedules, and documentation needs. Let’s break them down further.
Personal Loans
Among the most popular loan offerings, personal loans from Standard Chartered provide a simple solution for immediate funding without needing any collateral.
This loan is ideal for covering wedding expenses, education, travel, debt consolidation, or any personal emergency.
Interest Rates And Charges
Standard Chartered’s CashOne Personal Loan features attractive interest rates, starting from 1.90% per annum, with an Effective Interest Rate (EIR) from 3.63% p.a., depending on the loan amount and tenure.
Borrowers should also take note of the first-year annual fee of S$199, which is deducted from the loan amount upfront.
These rates remain competitive among banks in Singapore and are regularly updated, so it’s recommended to refer to Standard Chartered’s official page for the latest offers.
Eligibility Requirements
To be eligible for a personal loan:
- Singapore Citizens and PRs must have an annual income of at least S$20,000.
- Foreigners working in Singapore must earn a minimum of S$60,000 annually.
- Applicants must be between 21 and 65 years old at the time of application.
A clean credit history and a stable source of income improve your chances of approval and better interest terms.
Application Process
The application process can be done entirely online, requiring just a few steps:
- Visit Standard Chartered Bank’s personal loan page.
- Fill in personal and income details.
- Upload necessary documents such as payslips and NRIC/passport.
- Submit and receive a decision – in some cases within 15 minutes.
The bank’s streamlined system ensures fast approvals, especially for existing clients or those with Singpass MyInfo verification.
Repayment Structure
Borrowers can choose repayment terms from 12 to 60 months, allowing flexibility based on their financial situation.
Monthly instalments are fixed, which provides predictability in managing finances. There are also options for early repayment, although a fee may apply within the first six months of the loan.
For those consistently making timely payments, the bank sometimes offers incentives like fee waivers or cashback promotions.
Loans On Credit Cards
For those who already own a Standard Chartered credit card, another borrowing option is using your credit card loan facility.
This allows you to convert your existing credit limit into a cash loan without requiring a separate personal loan application.
Features And Benefits
A loan on credit card is especially beneficial when:
- You need quick cash without affecting your credit score, as the facility is pre-approved.
- You prefer shorter tenures and smaller loan amounts.
- You want no extra documents, as your card usage history is already assessed by the bank.
Key features include:
- Interest from as low as 0.99% per month, depending on the promotional offer.
- Loan amounts depend on your available credit card limit.
- Flexible tenure between 12 and 60 months.
- No need for additional approvals in many cases.
How To Apply
You can apply through:
- Online banking or mobile app, under the “Loan on Card” section.
- Phone banking or branch visit, though online is faster and preferred.
Standard Chartered may sometimes offer instant cash advance offers directly to eligible users via SMS or email.
Business Loans
Entrepreneurs and business owners in Singapore can access a variety of business loan products from Standard Chartered tailored to growth, expansion, or liquidity support.
Whether you’re a startup or a well-established company, the bank provides versatile funding options.
Loan Options And Features
Some of the popular Standard Chartered business loan solutions include:
- Working Capital Loans – Short- to medium-term financing for daily operations or unexpected expenses.
- Trade Financing – Designed to support import/export activities through letters of credit, invoice financing, or bank guarantees.
- Commercial Property Loans – Used to purchase or refinance office or retail spaces.
- Green Loans – Sustainable financing that supports businesses committed to eco-friendly practices.
Eligibility And Documents
Loan approvals are based on several factors, including:
- Company incorporation and business registration with ACRA.
- Annual turnover or operating history (usually 1–2 years minimum).
- Director/partner guarantor profiles.
- Profitability and business projections.
Documents typically required include:
- Latest financial statements (P&L, Balance Sheet)
- Company bank statements (last 6 months)
- GST filings or tax returns
- Identification documents of directors
Each loan type may have specific additional requirements.
Loans Against Property
For borrowers with existing property assets, taking a loan against property can provide access to higher loan amounts and longer repayment tenures at lower interest rates.
This is a secured loan option where the value of your real estate is leveraged for funding.
Key Highlights
- Available to individuals and businesses who own residential, commercial, or industrial properties in Singapore.
- Ideal for large expenditures like education abroad, business investments, or major renovations.
- Loan quantum is usually up to 70–80% of the property’s valuation.
- Tenure options can extend up to 25–30 years depending on the borrower profile and loan purpose.
How It Works
To apply for this loan, you’ll need:
- Proof of property ownership
- A valuation report by a certified property valuer (usually arranged by the bank)
- Income and identity documentation
- For commercial applicants, business financials and incorporation documents
The approval process can take longer than personal loans due to the property evaluation involved.
Loan Policy And Documentation Requirements
Standard Chartered’s loan approval process follows a structured internal policy that balances responsible lending with customer needs.
Internal Loan Policies
- All applications undergo credit risk analysis, including income verification and credit bureau checks.
- The bank reserves the right to decline or adjust loan limits depending on debt servicing ratio and credit history.
- Loan approval times vary by product, but online personal loans are usually the fastest.
Documentation Checklist
Here’s a general overview of what’s needed:
| Document Type | Example Documents |
|---|---|
| Identity | NRIC (Singaporeans/PRs), Passport & Work Pass (Foreigners) |
| Proof of Income | Payslips (3 months), IRAS Notice of Assessment |
| Property Documents | Title deed, recent property tax, valuation report |
| Business Financials | For business loans: P&L, bank statements, GST returns |
Being prepared with complete and accurate documentation improves processing speed and approval chances.
Tracking Loan Application Status
After submitting your loan application, it’s important to stay informed about its progress.
Online Status Checking
Applicants can log into Standard Chartered’s Online Banking or use the SC Mobile App to check their application status. The system updates in real time, giving you access to the current stage of processing.
Customer Service Channels
If you need help:
- Call the SCB hotline at 1800 747 7000.
- Use Live Chat on the official website.
- Visit a nearby branch location during operating hours.
These channels are staffed by trained representatives who can guide you further, including reapplying if your initial application was rejected.
Contact Support & Additional Tools
Standard Chartered provides various tools and support options to assist applicants in making the right loan choices.
You can explore:
- Loan calculators to estimate monthly repayments based on tenure and loan size.
- Comparison tools for evaluating different loan types.
- Consultations with financial advisors available at selected branches.
Visit www.sc.com/sg for more tools and personalised support.
A loan from Standard Chartered Bank can be an excellent way to meet your financial goals, whether personal or professional. With multiple loan options, flexible repayment terms, fast approval processes, and responsive customer support, borrowers in Singapore can feel confident in exploring what’s available.
Before applying, it’s advisable to assess your repayment capacity, compare different loan products, and prepare all necessary documents to speed up the process. With the right approach, your loan journey can be smooth, beneficial, and empowering.
