Business Installment Loan

Do not let fund shortage hold back your business expansion. Fight back all fund related constrains with Standard Chartered Bank’s Business Installment Loan. Inject up to BDT 7 Million to truly make your business fly!

Features

This loan will help you meet your financial needs for your business expansion. You can make long term investments with this business loan and build up your equity by repaying the loan in convenient equated monthly installments (EMI). You can avail this loan through some simple documentation and against competitive cash securities.

Maximum Loan: BDT 7,000,000 (Seventy Lacs) only
Minimum Loan: BDT 1,000,000 (Ten Lacs) only
Interest Rate: 19.5% per annum
Tenor: 3 Years - 5 Years (i.e. 36 to 60 EMI payments)
Cash Security: 30% to 50% of the loan amount

Following table indicates the monthly repayment amount or EMIs against different loan amounts and tenors:

Loan Amount	36 months	48 months	60 months
1,000,000	36,750	30,000	26,050
2,000,000	73,500	60,000	52,100
3,000,000	110,250	90,000	78,150
4,000,000	147,000	120,000	104,200
5,000,000	183,750	150,000	130,250
6,000,000	220,500	180,000	156,300
7,000,000	257,250	210,000	182,350

Please note that the above figures are only indicative and subject to change at the sole discretion of Standard Chartered Bank without any prior notice.

Eligibility

Any Business fulfilling the following criteria can apply for this loan:

At least 3 years or more experience in the same business
Minimum annual turnover of BDT 12,000,000 (One crore twenty lacs) only

Documents

The following denotes the documents required for any business to apply for this loan:

	Documents	Proprietorship Concern	Partnership Firm	Private Limited Company
1	Valid Trade License	√	√	√
2	3 Year Old Trade License	√	√	√
3	Latest 12 Month Bank Statement	√	√	√
4	National ID of Business Owners	√	√	√
5	Utility Bill of Business	√	√	√
6	TIN Certificate	√	√	√
7	Photograph of the Owners	√	√	√
8	Registered Partnership Deed	N/A	√	N/A
9	Memorandum & Article of Incorporation, Form X and XII	N/A	N/A	√
10	Certificate of Incorporation	N/A	N/A	√
11	Board/ Partnership Resolution	N/A	√	√
12	All Facility Related Offer Letters	√	√	√

Please note that the above requirements are not exhaustive and the bank may require further documentation for credit assessment on a case to case basis.

Charges

Loan Processing Fee: 1% of the approved loan amount
Early Settlement Charge: 5% on outstanding amount if repaid at any given time before maturity of the loan
VAT and Stamp Charge: All charges and fees are subject to 15% VAT, to be paid by the customer. Stamp charge will be at actual to be paid by the customer.

Frequently Asked Questions (FAQs)

Q What are the requirements to apply for this loan?
A Any Business enterprise (Private Limited Company, Partnership Firm or Sole Proprietorship Concern) with atleast 3 years of business experience is eligible to apply for Business Installment Loan.

Q Is there any minimum annual sales turnover limit?
A Yes, your business requires a minimum annual sales turnover of BDT 12,000,000 (One Crore Twenty Lac) only to be eligible to apply for the loan.

Q What is the maximum loan amount that I can avail?
A You can avail this loan up to BDT 7 Million (Taka 7,000,000) only provided your income supports the monthly repayments (EMIs) and other conditions/requirements are met as per bank criteria.

Q What is the method to repay this loan?
A Business Installment Loan is an installment based term loan, which gives you the peace of mind of knowing what your fixed monthly repayments (EMIs) are going to be. It also helps your business to build up its equity. We provide the maximum flexibility to repay the loan at your convenience. You can choose a tenor from 36 months to 60 months (3 Years to 5 Years).