What is the Standard Chartered Business Loan?

Standard Chartered Bank (SCB) is one of the key private sector banks in India. SCB offers business loans to Micro and Small Enterprises (MSEs) for establishing or expanding their businesses. Standard Chartered provides business loans at a starting rate of interest at 17.25% p.a.

Highlights

Eligibility Criteria

• Sole proprietors or proprietorship firms
• Partnership firms
• Private limited companies
• Closely held and public limited companies
• Professionals – doctors, architects, chartered accountants, and the like

Types of SCB Business Loans

Business Installment Loan

• Interest rate starts from 17.25% p.a. onwards
• Interest refunds of up to Rs. 50,000 in a year  available if borrowers make timely repayments of loan and maintain the minimum balance in the current account
• Key SME benefits available including  foreign exchange and cash management offerings, trade and working capital solutions, and so on

Guaranteed Installment Loan

• Interest rate starts from 13.50% p.a. onwards
• Can be accumulated with a Business Installment loan. As such, the maximum loan amount is Rs. 1.25 crore
• Loan covered under CGTMSE scheme so only nominal guarantee fee is applicable