Standard Chartered Bank Business Loan

Business Loan

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    Standard Chartered Bank provides the range of services including the business loan. This loan is useful for sole proprietors and partnership firms in need of monetary funds. No obligation is set on the usage of loan amount. The amount can be used either as working capital or for business expansion needs. The credit amount depends on the nature of the business and the CIBIL score. Bank provides credit up to the maximum limit of 75,00,000. The applicant has to pay 1.5%-2% of the loan amount as processing fee.

    Standard Chartered Bank Business Loan Details

    ParticularsDetails
    Interest Rates16.50%
    Minimum Loan Amount₹10,00,000
    Maximum Loan Amount₹75,00,000
    Minimum Tenure12 months
    Maximum Tenure36 months-48 months
    Processing Fee1.5%-2% of the loan amount+Applicable Taxes
    Repayment OptionThrough EMIs
    Prepayment Charges5% of the outstanding amount (No Prepayment allowed till 12 months)+Applicable Taxes

    How To Apply

    Taking into consideration the comfort of customers the Standard Chartered Bank offers multiple ways to apply for the loan. You can apply for loan in the following ways:

    • Online
    • Call on customer care number- 39401616 / 66011616, adding city code before number
    • Mail at [email protected]
    • Visit the nearest Standard Chartered Bank branch
    • If you are a Liability customers you may also get in touch with Relationship Managers to know more and apply for loan
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    Standard Chartered Bank Business Loan EMI Calculator

    The EMI calculator aids the calculation and assists in computing the monthly installment value. You can know the amount due for payment each month during the loan tenure. You can even calculate the total outgo amount which comprises of principal and interest amount. Let’s see how the calculator works.

    Suppose, if I take a loan of 75,00,000 at an interest rate of 16.5%p.a for 3 years, with the help of a Calculator I can know the exact EMI Calculations.

    Table Showing EMI, Interest Outgo, and Total Repayment Amount

    Loan AmountInterest RateTenureMonthly InstalmentTotal Interest AmountTotal Amount
    ₹ 75,00,00016.5%1₹ 6,82,257₹ 6,87,087₹ 81,87,087
    ₹ 75,00,00016.5%2₹ 3,69,018₹ 13,56,423₹ 88,56,423
    ₹ 75,00,00016.5%3₹ 2,65,533₹ 20,59,183₹ 95,59,183

    EMI, Total Interest Outgo, Total Repayment (Interest + Principal)

    YearPrincipalInterestBalance Amount
    1₹ 21,03,248₹ 10,83,146₹ 53,96,751
    2₹ 24,77,769₹ 7,08,625₹ 29,18,981
    3₹ 29,22,583₹ 2,67,413₹ 0

    Features And Benefits

    • Quick loan disbursement within few days of submission of documents
    • Attractive rate of interest
    • High loan amounts up to 75,00,000
    • Customer friendly application process
    • No security required

    Standard Chartered Bank Business Loan Eligibility Criteria

    The following list of candidates are eligible for taking business loan :

    • Sole proprietors / proprietorship firms
    • Partnership firms
    • Private limited companies
    • Closely-held and public-limited companies
    • Professionals – doctors, architects, chartered accountants, business consultants

    Standard Chartered Bank Business Loan Application Form

    You can fill your application form online as well as in-person by visiting the bank branch. The application form is mandatory to fill and necessary documents are to be attached. Incomplete forms are rejected by the bank. So make sure that all the fields are duly filled.

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    Documents Required:

    • Bank statements for the 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

    Identity & Address Proof Documents

    ID Proof
    Address Proof
    PassportPassport
    PAN CardTelephone Bill
    Driving LicenseElectricity Bill
    Voter IDID Card Issued by Post Office
    Government ID CardBank Statement with Cheque
    Senior Citizen ID CardAny other ID proof or address proof document can be submitted subject to bank's satisfaction

    Factors Affecting Business Loan Eligibility

    • Loan Repayment track
    • Credit Performance / Credit Bureau Update
    • Debt servicing ability of the customer
    • Business Vintage
    • Financial Ratios
    • Existing relationship

    Standard Chartered Bank Business Loan Interest Rate

    The loan interest rate depends on various parameters. The chief among them is the amount of loan and credit assessment. The minimum rate of interest prevalent is 16.5%. However, to know the specific rate of interest for your loan amount contact the bank’s sales officer.

    Standard Chartered Bank Business Loan e-Statements

     You can receive the electronic statements for your loan at zero charges. The bank mails the statement each month on the registered mail id. This helps you save the statement on your PC. Hence, reducing the paper consumption.

    Standard Chartered Bank Customer Care Service

    You can avail the benefit of customer care services through any of the following channels :

    • Call on phone banking number of your region
    • SMS on 9980033333
    • Email at [email protected]
    • Visit the nearest bank branch

    Personal Loan Interest Rates November 2018
    Bajaj Finserv10.99% - 16.00%
    Fullerton India14.00% - 33.00%
    HDFC Bank11.25% - 21.50%
    ICICI Bank10.99% - 18.40%
    IndusInd Bank10.99% - 16.00%
    Kotak Bank10.99% - 20.99%
    RBL13.00% - 18.00%
    Standard Chartered Bank12.00% - 17.00%
    Tata Capital10.99% - 18.00%
    Home Loan Interest Rates November 2018
    State Bank of India/SBI8.70% - 9.25%
    HDFC8.80% - 9.60%
    Bank of Baroda8.65% - 9.65%
    LIC Housing8.70% - 9.05%
    PNB Housing Finance9.00% - 13.00%
    ICICI Bank8.95% - 9.20%
    Axis Bank8.80% - 9.05%
    Citibank8.90% - 9.65%
    Indiabulls Housing Finance Limited8.80% - 11.05%
    Kotak Bank8.75%
    DHFL9.05% - 9.95%
    Reliance Home Finance8.75% - 14.00%