If you really want to know how to get a loan from Standard Chartered Bank Ghana, this article is for you. As you already know, adulthood requires people to get their own home and meet other financial obligations. So, this is unquestionably the burden they must bear at the start of their adult lives. Especially when they are ready to start a family of their own. Alternatively, he may wish to establish a new life away from his parents’ house.
About Standard Chartered Bank Ghana
Since 1991, they have listed Standard Chartered Bank Ghana Limited on the Ghana Stock Exchange. This makes it the country’s oldest commercial bank. They founded it in 1896 as the Bank of British West Africa and functioned as the Central Bank of the Gold Coast until 1953, before independence. Corporate and Institutional Banking, Retail Banking, and Commercial Banking are the three client sectors served by the bank. However, five product groups back them: Transaction Banking, Financial Markets, Retail Products, Wealth Management, and Corporate Finance.e.
What are the loan products of Standard Chartered Bank Ghana?
There are two main loan products they offer. They include:
1. Security Backed Lending
A personal line of credit is a quick and easy solution to cover all of your short-term cash demands.
Benefits:
There are some benefits of this loan offer. They include:
- Get a reasonable price increase based on the amount and number of days used.
- Use your investment as collateral to get cash.
- Cash withdrawals are simple and convenient at any of our 30 ATMs around Ghana.
Features:
The features of this loan offer include:
- Financing covers securities to a maximum of 70% and fixed deposits to a maximum of 90%.
- They provide the market’s most competitive interest rates. As a result, you make good returns on your investments and use a Personal Line of Credit to cover your cash needs.
- The Personal Line of Credit allows you to borrow up to 90% of the value of your collateral.
- Fixed deposits with chartered banks, as well as alternative investments such as bonds, treasury bills, and mutual funds.
Eligibility for the security backed lending
Do the following to be eligible for the loan:
- You must be between 21-75 years old (for Ghanaians).
- You must be between 21-75 years old (for residents and Non Ghanaians).
2. Personal Unsecured Loan
Their unsecured loans can assist you in meeting your particular financing needs.
Benefits:
- Take advantage of a 60-month flexible repayment option.
- You can access your account 24/7 through online and mobile banking.
- Get a large loan up to GH₵350,000 with no collateral required.
Features:
- With a flexible payback schedule of up to 6 years, you may simplify your financial management.
- Credit Life Insurance protects you in the event of your death, freeing your loved ones from financial obligations.
- Unsecured loans can help you buy a new automobile, pay for your post-graduate education, or pay for your child’s school expenses.
- You may be eligible for this loan if they pay your salary through a Standard Chartered Bank account.
Documentation they require taking out a personal loan
They require all applicants to present:
- Application form filled out completely.
- IID – Important Information Document Passport, driver’s license, national identification card, or voter’s ID.
- Most recent pay stub.
- Bank statements for the previous three months.
Application Eligibility for the personal unsecured loan
If you want to apply for the personal unsecured loan:
- A net minimum salary of GH₵1,000 is required.
- Be a salaried employee.
- Anyone who works for one of the nearly 500 companies with which Standard Chartered Bank has signed a Scheme Agreement for Salaried Employees.
The Documents they require
- Application form filled out completely.
- Get your passport, driver’s license, national identification card and Voters ID.
- Most recent wage slip.
- Bank statements for the last three months.
- IID – Important Information Document
- A letter of commitment is necessary.
How much can I borrow from a personal secured loan?
The minimum and maximum loan limits imposed by financial institutions usually limit borrowers’ loan amounts. Personal consumers can borrow up to GH₵250,000 with this lending product. However, priority consumers can get up to GH₵350,000. However, there are certain restrictions.
What are the contact details of Standard Chartered Bank Ghana?
For further enquiries on their loan products, you can contact them through:
- Phone number: 0302740100
- Email: ghana.call-centre@sc.com
- Website: https://sc.com/gh
Conclusions
Having seen how to get a mortgage loan from Standard Chartered Bank Ghana. It’s now left for you to decide which loan product best suits your needs. However, ensure you repay the loan they offer you so that your credit score will improve. So, you should know that failure to repay your loan would make credit bureaus in Ghana to blacklist you.
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