Axis Bank Business Loan at attractive interest rates. Axis Bank offers business loans to businessmen who are short of funds to expand their business. Be it expansion, purchase of machinery, or commercial property. With the help of Axis Bank business loan, you can always stay in the competition.
Axis Bank offers several types of business loans to businesses and MSMEs. They have a section solely dedicated to MSME loan products which focuses on helping their MSME customers finance their monetary needs to scale businesses. Let us have a look at different Axis Bank loan products and how to apply for these loans.
axis bank business loan interest rate
| Interest Rate | Starting from 10.75% |
| Processing Fee | Up to 2% of loan amount + applicable taxes |
| Loan amount | Up to Rs 10 crore |
| collateral | there is no need |
| Foreclosure Charges | Zero |
| Repayment period | Upto 15 years |
| Pre-payment charges | Zero |
| अतिरिक्त फीस और शुल्क | |
| Penalty interest | 2% per month for late installment |
| Stamp duty | As per applicable state laws |
| Check Bounce Charges | ₹ 500 per bounced cheque + applicable taxes |
| Renewal Processing Fee | Zero |
Axis Bank Business Loan Eligibility Criteria
| Qualification Factors | Eligibility Conditions |
| Age of applicant | Minimum: 21 Years & Maximum: 65 Years |
| Trade Term | Minimum 3 years |
| Business Turnover | ₹ 30 lakh to ₹ 10 crore |
Eligibility for any loan is determined by the following factors:
Total income of the business and other income
Age of the applicant
Assets and liabilities
Qualification and professional qualification
Value of security pledged against the loan
Dependents of the applicant
Documents Required for Axis Bank Business Loan
ITR (Income Tax Return) of last 2 years
KYC documents (Driving License, Voter ID, Aadhar Card, Passport)
PAN Card/ Form 60 for all applicants / co-applicants / guarantors
Audit Report
Additional documents required:
Certificate of establishment of business / GST Certificate / Service Tax Certificate.
Profit and loss statement, balance sheet, acknowledged income tax returns.
If the business has any existing loan outstanding, then loan sanction letter and bank statement to check the repayment track record.
Project report or business profile on company letterhead.
Identity and address documents as per current KYC norms along with a cheque for processing charges.
Axis Bank offers a range of customized credit services to its customers
Many times, despite careful planning and financial management, financial difficulties are faced which puts the entire business at risk. Axis Bank Business Loan minimizes all these risks and helps the business in various ways.
Working Capital Finance: Money should be readily available at all levels of the business to run the business continuously. There are some fund based facilities like cash credit/overdraft, these facilities meet the short-term requirements of the business like purchase of raw materials and finished goods as well as any business expenses.
Trade Finance (Bill Discounting): Invoice or bill discounting is short term working capital finance for the seller of goods on credit, even when the buyer is within the country or outside the country, it may be difficult to manage the payment terms. In such cases, the bill discounting process can help to a great extent.
Export Finance: This is a unique and favorable facility offered to export companies to meet the use of cash in the business. This loan option is offered in local or respective country currency for pre and post shipment finance of international trade. This Axis Bank business loan suits the financial demands of companies so that they can easily expand their business abroad.
Lease Rental Discounting: If you have rented out property for business, then the future earnings from this money can be used to invest in a small business. Lease Rental Discounting is a term loan, which is given against the rental receipts.
Term Loan: Term loan is given for regular expenses as well as capital expenditure, business expansion, etc. Term loans usually have a repayment period between one to ten years. In some cases, it can extend for a longer period.
Construction Finance: The real estate industry is growing rapidly and has a huge scope for further growth. There is a huge need for capital in this industry. There is a shortage of money before the project is ready or sold. For such a situation, Axis Bank offers long-term loans, which have a minimum repayment period of 5 years.
Project Finance: Project finance loans are mainly available for long-term infrastructure and industrial projects. Start-ups often require additional capital for various purposes such as business expansion, modernization, etc.
Axis Bank Customer Care
| Toll-free number for Indians | |
| Retail Phone Banking | 1860 419 5555, 1860 500 5555 |
| Agriculture and rural | 1860 103 5577 |
| Toll-free number for NRIs |
|
| America | 1855 205 5577 |
| UK | 0808 178 5040 है |
| Singapore | 800 1206 355 |
| Canada | 1855 436 0726 |
| Australia | 1800 153 861 |
| Saudi Arabia | 800 850 0000 |
| United Arab Emirates | 8000 3570 3218 |
| Queue | 00 800 100 34 800 |
| Bahrain | 800 11 300 |
With the help of the toll free numbers given above, you can ask any loan related question to the customer care officer.
How to apply for an Axis Bank business loan?
To apply for any of the loans above you can either contact the customer care centre using Axis Bank customer care number. You can also find the nearest Axis Bank branch to enquire about details.
To apply for loan products online, you must:
Visit the official website of Axis Bank
Navigate to the option labelled ‘Business’ on top of the homepage
Click on ‘SME’
Navigate to option labelled ‘Debt and Working Capital’
Click on ‘MSME – SBB (Turnover upto 30 Crs)’ for MSME loans
Choose a loan category from the list that appears
Go through the loan products from another list that appears. Click on ‘Explore more’ option given below the title of each loan product for more details on the loan
Click on ‘Apply now’ option given below the title of each loan product to apply for the loan.
Filling up the Axis Bank business loan application form and submitting the relevant documents online will send your application to the Axis Bank business loan department for scrutiny and approval/rejection.
