Stan Chart Business Loans: Get details on lowest interest rate installment scheme business loans of Standard chartered. Apply online and get lowest rates and EMI.
Business Installment Loan is an unsecured (collateral free) loan to business entities with turnover ranging from Rs. 1 crore to Rs. 30 crore. This loan is useful for proprietors, partnership firms, private limited companies and professionals.
Business Installment Loan helps your business take giant strides by fulfilling your business requirements; be it working capital requirement, business expansion or to grab that once in a lifetime business opportunity.
- Easy to apply
- Loan amount upto Rs. 75 lakh*
- Loan tenor upto 48 months*
- No collateral or security required
- Quick Turnaround Time
- We guarantee to decision your Business Instalment Loan application within the next 5 business days**. If we do not meet our guarantee, we shall refund you with Rs. 500 per business day of delay up to a maximum of Rs. 5,000*.
**Conditions apply. Rs. 500 per business day refund is only for approved cases.
Standard Chartered Bank Business Loan
|Interest Rates||16.5% p.a.|
|Minimum Loan Amount||Rs. 10,00,000|
|Maximum Loan Amount||Rs.75,00,000|
|Minimum Tenure||12 months|
|Maximum Tenure||48 months|
|Processing Fee||2% of the loan amount + Applicable taxes|
|Repayment Option||Through EMIs|
|Prepayment Charges||5% of the outstanding amount (No pre-payment allowed till 12 months)+ Applicable Taxes|
Who is eligible for BIL ?
- Sole proprietors / proprietorship firms
- Partnership firms
- Pvt. Ltd. Companies
- Closely held Public limited companies
- Professionals – doctors, architects, chartered accountants, business consultants
What is the minimum and maximum annual turnover eligibility?
- Minimum turnover – Rs. 1 crore
- Maximum turnover – Rs. 30 crores
What is the minimum and maximum loan amount offered?
- You can get an unsecured Business Installment Loan ranging from Rs. 5 lakhs to
Rs. 50 lakhs depending on the financial eligibility conditions being met.
What is the minimum and maximum tenor of the loan?
- The loan tenor ranges from 15 months to 36 months.
What is the security/ collateral that I need to provide?
- BIL is an unsecured loan product. Hence, no collateral is required.
What is the interest rate charged on BIL?
- We offer attractive interest rates on the facility depending on loan amount, credit assessment and other parameters. Specific details would be provided by the sales officer.
What are the basic documents required for applying for the facility?
- Bank statements for last 6 months
- 2 year financials including Profit & Loss (P&L) Statement , Balance Sheet and Income Tax returns.
- Documents related to establishment of entity, identity and address proof documents.
- Specific details would be provided by the sales person.
Can I prepay the loan?
- Pre-payment is not permitted in the first 12 months of the loan. You can pre-pay your loan with pre-closure charges of 5% of the outstanding at the time of closure (service tax will apply additionally)