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Business Instalment Loan
Business Instalment Loan
  1. Business Banking
  2. Business Expansion
  3. Business Installment Loan

Business Installment Loan (BIL)

Widen your business spread with collateral free business loan

Business Instalment Loan Benefits
  • with flexible loan tenure

  • backed Guaranteed Installment Loan

  • with flexible tenure

Business Installment Loan Features

No collateral requirement

Avail Collateral-free business loans up to a maximum value of INR 75 lacs with tenure up to 4 years.

Less documentation

Get Credit assessments done easily based on GST statements.

Top up facility

Avail Top-up facility based on existing loan track record.

Simple and Hassle-free Process

Simplified documentation to provide ease of application so that you can focus on your business.
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Entities eligible for a Business installment loan

1. Partnership firm (Including Limited Liability Partnership firms)
2. Sole Proprietorship entity
3. Private Limited Companies(including closely held limited companies)
4. Entity should have profitable business
5. Minimum 3 years of business operation
6. Minimum annual turnover of INR 100 lakhs for entity

Documents require to avail Business installment loan

1. Documents related to establishment of entity, identity and address proof
2. 12 month GST returns for Turnover computation
3. Latest 2-years annual return including Profit & Loss (P&L) statement, balance sheet and income tax returns
4. Last 6 months statements
5. Specific details would be provided by the sales officer

1. Pricing from 17.25% p.a. for Business installment Loan (BIL)
2. Pricing of 14% p.a. for Guaranteed installment Loan (GIL)
3. Special benefits for Priority Sector Lending (PSL) customers
4. Special benefits for Branch / Direct (Non-Referral) Sourced Customers
5. Processing fees – 2% of loan disbursed amount
6. Prepayment penalty – 5% of the principle outstanding
7. EMI Bounce charges – INR 495 per instance
8. Penal Interest of 24% p.a.
GST will be levied at the applicable rates in force on all taxable supplies with the effect from a date to be notified by government. Any service, which is not mentioned above, will be charge separately at applicable charges

Disclaimer

All applications may be subjected to additional documents and are still subject to, and conditional upon the Bank’s approval in the Bank’s sole discretion.

You can apply for a business installment loan in the following ways:

•Online application form and our representative will get in touch with you.
•Call on one of our customer care numbers – 39401616 / 66011616, add city code before number.
•Write to us at sme.customercare@sc.com
•Visit your nearest Standard Chartered branch.
•If you are a liability customer you may also get in touch with your relationship managers to know more and apply for a BIL.

As per BCSBI guidelines, we would dispose of your application for credit limit or enhancement in existing credit limit, upto INR 5 lakh within two weeks, and for credit limit above INR 5 lakh and upto INR 25 lakh within three weeks, and for credit limit above INR 25 lakh within six weeks from the date of receipt, provided your application is complete in all respects and is accompanied by documents as per checklist provided.

We offer

•Attractive bundled offerings.
Term Loan with current account (BIL+)
•Interest refund of up to 10% (up to INR 50,000) in the first year itself. Terms and conditions apply.
•Opportunity to avail a zero balance current account along with a dedicated relationship manager.
•Guaranteed installment loans (backed by CGTMSE) especially catering to enterprises from the priority sector (PSL).
•Vanilla term loans.

Incremental funding option post 10 months of clean repayment.

•It is a maximum of five years loan with upto a INR 125 Lakh ticket size.
•It can be availed with a combo of BIL up to INR 125 lakh i.e. with both facilities put together.
•It is guaranteed under the CGTMSE scheme by paying a nominal guarantee fee every year.
•It has attractive pricing for the customer to avail of the scheme.
•It targets manufacturing, trader and service Micro and Small enterprises.

Bundled current account opened along with BIL and interest refunds of upto INR 50,000 in year 1 on meeting the throughput on current account and loan delinquency criterion.

•Attractive interest rates
•Bundled current account offering.
•Opportunity to avail a gamut of offerings catering towards SMEs i.e. business banking products, trade and working capital solutions, Forex and cash management offerings

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

The loan tenure ranges from 12 to 60 months. Terms and conditons apply.

We offer attractive interest rates on the facility depending on loan amount, credit assessment and other parameters. Specific details will be provided by the sales officer.

•Bank statements for the last six months.

•VAT/GST statements for 1 year.

•2-year financials including Profit and Loss (P&L) statement, balance sheet and income tax returns.

•Documents related to establishment of entity, identity and address proof documents.

•Specific details will be provided by the sales person.

An unsecured business installment loan ranges from INR 10 lakh to INR 75 lakh depending on the financial eligibility conditions being met.

The business installment loan is an unsecured product. Hence, no collateral is required.

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 (GST will apply additionally).