Standard Chartered Bank offers a range of business loan solutions to expand your operations, invest in new equipment, or manage cash flow. It provides competitive interest rates with flexible terms. With a focus on supporting businesses of all sizes, Standard Chartered business loans come with personalized service and dedicated support to help you achieve your financial goals and drive growth for your company.
Here are the highlights of Standard Chartered Bank Business Loan:
Loan amount | Up to ₹25 Crore* |
Loan purpose | Working capital loan, business expansion, equipment purchase loan, and more |
Repayment terms | Up to 20 years* |
Collateral | Secured and unsecured business loan options are available |
Online application | Convenient online application process |
Standard Chartered Bank provides business loans with competitive interest rates that depend on the loan type, creditworthiness, loan amount, and tenure. Here’s an overview:
Interest Rate | 17.25% p.a.* (for Business Installment Loan) |
Processing Fees | 2% of tde loan amount |
Prepayment Penalty | 5% of tde principal outstanding |
EMI Bounce Charges | ₹495 per instance |
Penal Interest | 24% p.a. |
Here are the types of business loans provided by Standard Chartered Bank:
Loan Type | Purpose | Highlights |
---|---|---|
Business Installment Loan (BIL) | Unsecured business loans for Working capital, expansion, equipment purchase | Loan amount: Up to ₹1 Crore Tenure: Up to 4 years Interest rate: 17.25% p.a. |
Loan Against Property (LAP) | Asset-backed financing for various business needs | Loan amount: Up to ₹25 crore Tenure: Up to 20 years |
Loan Overdraft & Trade Working Capital | Overdraft, Short-term Loans, and Trade Facilities such as Letter of Credit, Bank Guarantee, Export Finance, FX Forward Contract, and LC Bill Discounting. | Loan amount: Up to ₹20 crore Interest rate: 10% to 15% p.a. |
Curious to know more on the different types of MSME business loan offered?
Check more on equipment purchase loan, medical equipment loan, construction equipment loan and commercial vehicle loans from the linked pages.
Here is a comparison of the business loan interest rates offered by Standard Chartered Bank with those of other leading lenders in India:
Top Bank/NBFCs | Business Loan Interest Rates |
---|---|
Standard Chartered Bank | 17.25% p.a. |
HDFC Bank | 10% - 22.50% p.a. |
Axis Bank | 14.95% - 19.20% p.a. |
Bajaj Finserv | 9.75% - 30% p.a. |
Flexiloans | 1% per month onwards |
HDB Financial Services Ltd. | Up to 36% p.a. |
IDFC First Bank | 14% to 25% p.a. |
Indifi | 1.50% per month onwards |
Kotak Mahindra Bank | 17% p.a. onwards |
Lendingkart | 12% - 27% p.a. |
Mcapital | 2% per month onwards |
NeoGrowth Finance | 19% - 24% p.a. |
Tata Capital | 12% p.a. onwards |
UGRO Capital | 9% - 36% p.a. |
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Note: The interest rates mentioned are subject to change. Do visit the official website for updated rates.To be eligible for a Standard Chartered business loan, you should meet the following criteria:
When applying for a business loan, prepare the following documents:
Not sure of your credit score? Check it now!
Here are the steps to apply for a Standard Chartered Bank Business Loan online:
You can also apply for a business loan through Buddy Loan. Follow the steps mentioned below:
Step 1: Visit buddyloan.com or Download & install the Buddy Loan app (Android or iOS).
Step 2: Open the business loan application page. Enter your mobile number and OTP.
Step 3: Specify the desired loan amount and email. Next, choose the Business Loan option.
Step 4: Choose if you have a Business Proof (Yes/ No)
Step 5: Provide income details and Click the ‘Submit’ button.
Here are some advantages of choosing Standard Chartered Bank for financing:
Businesses meeting the eligibility criteria such as turnover, credit history, and vintage can apply.
Standard Chartered offers business loans up to a maximum amount of ₹25 crore based on the loan type and applicant's eligibility.
Interest rates start at 17.25% p.a. for Business Installment Loans and vary based on the loan type, tenure, and other factors.
Repayment periods typically vary from months to years, depending on the type of loan and agreement terms.
Eligibility criteria include business turnover, credit history, minimum business vintage, and income criteria.
Yes, prepayment options are available, and charges may apply based on the terms and conditions of the loan agreement.
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