Standard Chartered announced today the launch of its latest value-added promotion on Home Loans, offering loan amounts of up to AED 18 million at a loan-to-value ratio of as much as 80 per cent, up to 30 years loan repayment tenure and a special interest rate of 4.99 per cent per annum fixed for the first 12 months. The Standard Chartered Base Lending Rate (SCBLR) plus the Prescribed Rate will be applied thereafter. The promotion will be offered under Standard Chartered Bank’s Home Suite Bundle Account and will be available until the end of the Holy Month of Ramadan 2011. The offer is also applicable for standard Mortgage and is available under Shariah-compliant terms through Saadiq, Standard Chartered’s Islamic Banking arm.

Aside from the competitive rate and flexible tenures, the package also comes with a free credit card that holders can use to earn flight tickets on any airline. Home Suite customers may also avail of personal loans of up to AED 250,000. In addition, customers may be provided with a priority banking account with no required minimum balance, a dedicated relationship manager, special fee discounts on routine banking transactions, and free high-cash withdrawal limits with the Standard Chartered Platinum Debit Card.

Commenting on the new Promotion, Syed Hammad Haidar, General Manager - Retail Products and New Business, Standard Chartered UAE, said:

“This offer coincides with the Holy month of Ramadan, which is an ideal period for us to fulfill the desire of those planning to own their dream home. Our offer is one of the most competitive and value-added housing loan offerings in the UAE and reflects our customer focus strategy that aims to offer our customers products and promotions designed to meet their specific needs.”

The Ramadan 2011 Home Suite offer continues a series of value-added deals that Standard Chartered Bank has been introducing to further strengthen its presence in the UAE. The bank recently offered a similarly competitive package for residents of Arabian Ranches.

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