Credit Mantra, New Delhi(Id# 2i9_qiwLwd)

Great savings

We offer variable and semi-fixed rate housing loans with just a one-time processing fee. No hidden charges.

Tailored to your needs

You have a requirement, we have a product! Loans available for
 ready/under construction flat or house, home extension and renovation.

Flexible tenures

Standard Chartered offers home loans for salaried and self-employed customers with a wide range of tenure.

Refinancing options

Stuck with a High Interest home loan? Transfer your existing loan to a
 lower interest Standard Chartered Bank Home Loan and save money.

The following are some popular types of home loans available in the Indian housing finance market :

1.
Land purchase loans Land purchase loans are taken to buy a plot of
 land on which a borrower wishes to construct her/his house. Most banks
 offer up to 85 per cent of the price of the land. These loans can be
 availed for residential as well as for investment purposes. Almost all
 leading banks offer this loan like ICICI Bank (land loan), Axis bank
 (loan for land purchase) etc.

2.
Home purchase loans The home purchase loans are the most popular  and
the most commonly available home loan variants. These loans can be  used
to finance the purchase of a new residential property or an old  house
from its previous owners.

3.
Home construction loans These loans can be availed by those
 individuals who want to construct a house according to their wishes
 rather than purchasing an already constructed one. The loan application
 and approval process for home construction loans are somewhat
different  from those of the commonly available housing loans.

4.
Home expansion/Extension loans Home expansion or extension loans  are
useful in situations when people want to expand their existing  house.
Expansion includes alteration in the current structure of the  residence
to add extra space  such as constructing a new room, a floor, a  bigger
bathroom or enclosing a balcony. Though many banks provide loans  for
these purposes as part of home expansion loans, some banks lend for  the
same purposes as part of their home improvement loans.

5.
Home improvement loans Home improvement loans are availed by
 individuals who already own a house but lack the funds to renovate it.
 All kinds of renovations and repair works can be financed using this
 variant of home loans such as internal and external painting, external
 repair works, electrical work, water-proofing and construction of
 underground or overhead water tank etc.

6.
Home conversion loans Those borrowers who have already purchased a
 house by taking a home loan but now want to buy and move to another
 house opt for the home conversion loans. Through these loans, they can
 fund the purchase of the new house by transferring the current loan to
 the new house. There is no need to repay the loan on the previous home.

7.
NRI home loan sNRI home loans is a specialized home loan variant  which
has been developed to assist non-residents in acquiring housing
 finance to buy residential property in India. These loans are meant
 exclusively for the non-resident Indians.

8.
Balance transfer loans Balance transfer option can be availed when  an
individual wants to transfer his home loan from one bank to another
 bank. This is usually done to repay the remaining amount of loan at
 lower interest rates or when a customer is unhappy with the services
 provided by his existing lender and wants to switch to another lender.

9.
Stamp duty loans Stamp duty loans are provided to pay off the stamp
 duty charges on the purchase of a property. The amount from this loan
 can be used solely for this purpose. This segment of home loans has yet
 not gained much popularity.

10.
Bridged loans Bridge loans are short term loans which are meant  for
people who already own a residential property but are planning to  buy a
new house. It helps borrowers to fund the purchase of the new  house
until a buyer is identified for the old house.