The Standard Chartered Business Instalment Loan (BIL) aims to make business growth more accessible for small businesses and entrepreneurs in India. You can borrow amounts up to INR 1 crore without pledging any collateral, offering flexibility and peace of mind for business owners. The loan tenure extends up to 4 years, and the interest rate begins at 17.25% per annum for standard BIL and from 14% p.a. for guaranteed installment loans. Key eligibility conditions include a business that’s profitable for at least three years and an annual turnover starting at INR 1 crore. Documentation requests are straightforward and mainly focus on GST statements and financials for two years.

How to Apply: Step-by-Step

1. Submit an online application on the Standard Chartered portal or visit a branch.
2. Gather required documents such as GST returns, financials, and bank statements.
3. A relationship manager or sales officer may request extra information if needed.
4. Your application will be processed, typically within 14 to 30 working days, depending on the loan amount.
5. After approval, the funds are disbursed to your business account for immediate use.

Pros of Standard Chartered BIL

One of the biggest advantages is the collateral-free nature, reducing risk for small business owners while still offering substantial loan sums. The process is hassle-free and decision turnaround is fast, making it convenient for those needing prompt access to capital. Flexible tenures and a top-up facility based on your repayment record increase the product’s appeal. Support is also available through various contact channels, including 24×7 phone banking and nationwide branches.

Cons of Standard Chartered BIL

The starting interest rates are relatively high compared to some secured loans and digital lenders, which could be a consideration for price-sensitive companies. Processing fees and EMI bounce penalties add to borrowing costs, and eligibility criteria (profits for 3 years, minimum turnover) may exclude startups or very small businesses.

Verdict: Is Standard Chartered BIL Right for You?

If your business is established, profitable, and searching for quick, collateral-free funding up to INR 1 crore, this offering stands out with its established brand trust and easy application process. However, newer businesses or those seeking lower costs might find alternative products more suitable, so weigh all terms carefully before applying.