Axis Bank is a very large private bank. In 1999, it was known as UTI Bank. Axis Bank provides credit card facilities and this bank provides loans to all the users according to their utilities, that is, every person has his own credit card. Loan can be taken according to the needs. Axis Bank provides many types of loans for its customers such as business loan, personal loan, car loan, home loan etc.
This bank Axis Bank gives business loans at cheap interest rates. This bank gives loans to all those small and big businessmen who either want to start business or want to carry forward the business started, then any person who wants to take Axis Bank business loan If you want to take it, then we have explained here in detail about Axis Bank Business Loan Process , what are the eligibility criteria, which documents should be there.
What is Axis Bank Business Loan?
Axis Bank Business loan Business loan is an unsecured financial assistance provided by banks and NBFCs in India to meet the immediate needs of your growing business. Most of the financial institutions offer term loans and flexi loans to meet the business needs of a company, this is called business loans or commercial loans. All types of business such as sole proprietorship, privately held company, partnership firms, self-employed individuals and retailers can all take loans.
Axis Bank Business Loan Eligibility Criteria
Axis Bank Business Loan Eligibility Criteria :- Some eligibility criteria have been made by Axis Bank for business loan, loan is given by the bank only after fulfilling them like
- You should be minimum 25 years and maximum 65 years of age at the time of applying Axis Bank Business Loan.
- You must have at least 5 years of experience in the current line of business with at least 3 years of profitable business establishment and operation in the same city.
- For self-employed professionals, minimum 4 years post qualification experience is required.
- The applicant should either have a residence or office in his name
- Applicant should have good old bank record
- Applicant’s business profit is at least
- All types of firm can take loan like;
- Self-employed individual
- Self-employed professional
- Sole proprietorship firm
- Partnership firm
Documents Required for Axis Bank Business Loan
Documents Required for Applying Axis Bank Business Loan / Business Loan :- While applying for business loan, the applicant has to provide documents so that the bank can verify the information of the applicant and his business.
- ID Proof : PAN Card / Aadhar Card / Driving License / Voter ID / Passport.
- Address Proof: Aadhar Card / Driving License / Voter ID / Passport.
- PAN Card of the Proprietor / Firm / Company.
- ITR (Income Tax Return) for the last 2 years
- PAN Card / Form 60 For All Applicant / Co-applicant / Guarantor
audit report - Certificate of Establishment of Business / GST Certificate / Service Tax Certificate.
- Profit and loss information, balance sheet, approved income tax return.
- If the business has any existing loan outstanding, the loan sanction letter and bank statement will also be required to check the repayment track record.
- Project report or business profile on company letterhead.
- As per extant KYC norms, Identity card and address documents as well as check processing fee.
Axis Bank Business Loan Interest Rates
Axis Bank offers attractive interest rates on its business loans, but this bank gives many types of business loans, so they all have different interest rates.
- Interest rate :- Starting from 15.50%
- Processing fee :- Up to 2% of loan amount + applicable taxes
- Loan amount :- Up to maximum ₹ 50 lakh
- Guarantor :- Not needed
- Foreclosure Fee :- 0
- Prepaid Fee :- 0
Axis Bank Business Loan Fees and Charges
- Penal interest on late payment of installment :- 2% per month
- Stamp Duty :- As per applicable state laws
- Check bounce charge :- ₹ 500 per bounced check + applicable taxes
- Renewal Processing Fee :- Nil
Axis Bank Business Loan EMI Calculator
Axis Bank Business Loan EMI Calculator :- Business Loan EMI Calculator is a calculator designed to calculate the amount of EMI which is payable each month to amortize the loan. The EMI calculated includes the loan amount and the interest charged on the loan. This value remains the same throughout the tenure of the loan at a fixed interest rate.
Features of Axis Bank Business Loan
- Collateral-free. One of the salient features of this scheme is that it is a collateral-free loan. It does not require any guarantor or collateral.
- Loan Amount :- You can avail loan amount from Rs 3 lakh to Rs 50 lakh
- Competitive Pricing :- Determination of Axis Bank loan amount and interest rates are updated with market pricing.
- Interest Rate :- Axis Bank offers competitive interest rate for loan facility. The interest rate will be based on your business profile, financial appraisal, past track record, loan amount and tenure appraisal.
- Tenure :- Amount repayment period is from 12 months to 36 months
Apply Online for Axis Bank Business Loan
Online for Apply Axis Bank Business Loan: – If any person wants to apply online for Axis Bank Business Loan, then he can apply from the official website of the bank, the link of the website is given below for any type of loan from there. can apply online for
Axis Bank Business Loan 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 NRI
- USA 1855 205 5577
- UK is 0808 178 5040
- Singapore 800 1206 355
- Canada 1855 436 0726
- Australia 1800 153 861
- Saudi Arabia 800 850 0000
- United Arab Emirates 8000 3570 3218
- Qatar 00 800 100 34 800
- Bahrain 800 11 300
