Urban Money

Standard Chartered Business Loan Calculator

  • 50 K
  • 1 Cr
Years
  • 1
  • 5
%
  • 8
  • 25

Monthly Loan EMI

Payment Breakdown:

Principal Amount

₹15,00,000

Interest Payable

Total Amount Payable

Micro and Small Enterprises can obtain business loans from Standard Chartered Bank (MSEs). The loan amount may be utilised to start or grow a manufacturing, service, or commercial enterprise. Business loans from Standard Chartered Bank are available with interest rates starting at 17.25%.

Additionally, the Standard Chartered Bank business loan EMI Calculator is a simple tool that presents precise results in attaining a loan. This is extremely helpful for interested individuals to secure a Standard Chartered business loan to bridge the financial gap.

The EMI calculator further helps an individual understand the loan structure and whether a business loan is an ideal option.

Features of Standard Chartered Business EMI Loans Calculator?

There are a lot of features of the Standard Chartered Bank Business EMI Loan calculator, and some of them are listed below:

  • The amount a borrower chooses to obtain as a loan from the bank is known as the loan amount. The EMI will increase as the Standard Chartered business loan amount increases.
  • Rate of interest: The interest rate is the cost of borrowing a loan. Reduce the interest rate on the Standard Chartered business loan to reduce the EMI.
  • Loan Tenure is the length of time that you borrow money. The Standard Chartered business loan's EMI will be cheaper the longer it is outstanding. The maximum loan term offered by Indian banks is five years, subject to the borrower's present age and retirement age.

What are the benefits of Calculating Standard Chartered Bank loans Online?

Calculating Standard Chartered Business Loan Online can benefit anyone who wants a Business Loan. Enlisted below are some of the notable benefits:

  • Fast
  • Simple
  • Convenient
  • Plan your finances wisely and estimate your monthly expenses.

Standard Chartered Business Loan EMI Calculator Formula and How Does it Work?

The Standard Chartered Bank Business Loan EMI is calculated using a straightforward mathematical procedure. The simple EMI formula makes it simpler to calculate the precise amount. The three variables used to compute the EMI are the loan amount, interest rate, and tenure.

E = P x R x (1 + R) ^ n / ((1 + R) ^ n-1)

  • P = Principal Amount
  • R = Interest Rate
  • N = Total number of months during the loan tenure.

Things to Consider while Calculating Standard Chartered Loan?

Certain things are to be considered while calculating the Standard Chartered Loan, and they are:

  • The loan amount is the sum that the borrower chooses to obtain from the bank in the form of a loan. The EMI will increase as the Standard Chartered business loan balance increases.
  • The interest: It is imposed on the borrowed loan amount. Lower the EMI and the interest rate on the Standard Chartered business loan.
  • The tenure of the loan: Lower EMIs are associated with longer Standard Chartered business loan terms. Subject to the borrower's present age and retirement age, the maximum loan term offered by Indian banks is five years.

What is the Quickest Way to Get a Business loan from Standard Chartered Bank? 

Through Urban Money, one can quickly apply for a Standard Chartered Business Loan. It is simple to use for everyone. However, several essential documents are needed to complete the loan application. Here is a list of those necessary papers.

  • Proof of Identity
  • Residence Proof
  • Age Proof
  • Financial Proof Documents

A balance sheet that has been reviewed by a Chartered Accountant (CA), two years' worth of profit and loss accounts, and a statement describing the business transaction, along with two years' worth of income tax returns

  • Proof of Income

Bank statements over the past two years for both personal and commercial accounts.

  • Proof of Business Ownership

Bank statements over the past two years for both personal and commercial accounts.

To finish the procedure, you must apply with accurate information and two passport-sized photos.

Frequently Asked Questions (FAQs)

What is the rate of interest on a business loan in Standard Chartered?

The interest rate on a business loan from Standard Chartered bank starts from 17.25% p.a.

Can I get a business loan of 10 lakhs from Standard Chartered?

Business loans from Standard Chartered Bank range from Rs. 10 lakh to Rs. 75 lakh.

What is the EMI calculation formula for a business loan from Standard Chartered?

To obtain the EMI immediately, one only needs to enter the loan amount and term.

Will business loan EMI change in case of prepayment in Standard Chartered Bank?

After paying off 12 EMIs on your loan, you can prepay it with 5% preclosure fees at any time by sending the bank a 21-day notice.

What is the Standard Chartered business loan processing fee?

The loan processing fee of Standard Chartered business loans ranges from 1.5%-2%.