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Address your cash or expansion needs today with our Business Overdraft

Business Overdraft

Address your cash or expansion needs today with our Business Overdraft

Addressing your funding needs

Business Overdraft is an unsecured revolving line of credit that offers you up to S$300,000. With no collateral required, enjoy greater flexibility in accessing your funds to drive your business further.

Features

Fees & Charges

Pricing

Business Overdraft Board Rate= 9.00%p.a

Fees
Charges
Facility Fee 1.99% of approved limit (Minimum S$500)
Annual Fee 1.50% of approved limit (Minimum S$500)
Restructuring Fee S$250
Late Fee S$100
Fall-below Fee N.A. for as long as limit is in place
Loan Quantum
Min
Max
Loan Quantum S$70,000 S$300,000

Eligibility & Documents

Eligibility

  • Sole Proprietors / Partnerships / Private Limited Companies
  • Singapore-registered business
  • 50% or more shareholdings is effectively held by Singaporeans / Singapore PRs
  • Minimum 3 years of business operations
  • Turnover between S$750,000 and S$21 million

Documents Required

  • Photocopies of Sole Proprietors’ / Partners’ / Principals’ / Directors’ Identity Cards / Passports
  • Company’s Goods and Services Tax statements for last 4 Quarters
  • Company’s operating bank current account statements for the past 6 months
  • Completed Business Overdraft Loan Application Form
  • Copy of Sole Proprietors’ / Partners’ Income Tax Notice of Assessment
  • Board of directors’ resolution
  • Memorandum & Articles of Association
  • Professional Certificate (if applicable)
  • Documents related to establishment of entity, identity and address proof documents

FAQs

  • Our Business overdraft offers you up to S$300,000.

  • This is a revolving line of credit, so there is no fixed loan tenor. However, please note that there will be an annual review performed on your overdraft facility.

  • Yes you will require a Standard Chartered Business current account to operate your overdraft facility.

  • Since this is an unsecured facility, no collateral is required. Only personal guarantee(s) is/are necessary.

Terms and Conditions

Disclaimer

The repayment period for each loan is subject to the Bank’s sole discretion.
The loan amount approved is subject to the Bank’s sole discretion.
All applications are still subject to, and conditional upon the Bank’s approval in the Bank’s sole discretion.

Deposit Insurance Scheme

Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.