Axis Bank provides business loans up to rs.50 Lakhs without collateral with affordable EMIs for tenure up to 36 months. It gives you a 24×7 online business loan service if you are already an axis bank customer.
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Features and Benefits
24×7 online business loan service for existing customers
You can get a loan of up to Rs. 50lakhs without collateral.
The loan tenure ranges up to 6-36 months
The loan starts with Rs.50,000.
Interest is applied according to your credit report and the amount of loan you required.
You can apply offline as well as online.
Balance Transfer Facility available
Repayment in reasonable EMIs.
You can use the loan amount to buy new machinery, in expansion, in working capital requirements, as your business requires.
Eligibility criteria to apply for Axis Bank Business loans
Self-employed individuals
Sole Proprietorships
Partnership firms
LLPs
Private companies
Unlisted Public companies
Educationals Institutions/ Hospitals
The minimum age to apply is 21 years
Business must be 3 years old.
Minimum Turnover of Rs.30 Lakhs.
Business must be Registered
Documents Required
If you are existing axis bank customer minimal documentation only about your business is required.
ID Proof (PAN card/Aadhaar card/voter ID card/voter ID/driving license)
Address Proof( utility bills/rent agreement/any ID approved by GOI)
Bank Statements
Income Proof
ITR
GST registration number
Business Ownership Proof
Partnership deed in case of Partnership
AOA, MOA, Commencement of Business Certificate.
Fee and Charges
Rate of Interest – As per the Bank and your credit report
Penalty for late payment of EMI – 2% per month on remaining amount i.e, 24% per annum
Foreclosure charges – 2-5% on remaining loan amount
Stamp duty – As per state
How to apply for the Axis Bank business loan?
You can apply in two ways i.e., Online and Offline:
Online
Go to axis bank website
Click on view all options
A new page will be opened showing various kinds of loans available
Select Business Loan and click on the ‘Apply online’.
A new page will be opened asking you if you are a new customer or an existing customer.
If you are an existing customer it will ask you for your Customer ID and Password.
If you are a new customer you have to fill out all the information asked for and apply.
After this, for both the customers their representative will call you to further guide you through this process.
Offline
Visit your nearest axis bank branch with all the information and documents. You will get an application form over there. Fill out that form. Their employees present over there will help you with the process.
