Standard Chartered has launched its latest value-added promotion on home loans, offering loan amounts of up to Dh18 million ($4.9 million) at a loan-to-value ratio of as much as 80 per cent.

The promotion includes repayment tenure of up to 30 years loan 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, a statement said.

The promotion will be offered under Standard Chartered Bank’s Home Suite Bundle Account and will be available until the end of Ramadan. 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 Dh250,000.

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.

“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,” said Syed Hammad Haidar, General Manager - Retail Products and New Business, Standard Chartered UAE.

“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,” he added. – TradeArabia News Service