Axis Bank is the 3rd largest private sector bank in India offering numerous financial services to its customer. Whether you are a manufacturer, trader, retailer or a professional business owner. Axis Bank Business Loan is an absolute solution for loan seekers. Axis Bank offers business loan for new businesses as well as existing businesses. It’s really hard to manage cash flow along with expanding business scale. Moreover, liquidity is a essential need of every business. Avail Axis Bank business loan interest rate begins from @18.00% onwards.
Simplified & Minimum Documentation: - Minimum documentation make the loan process simplified.
Quick & Hassle-Free Processing: - Axis Bank business loan gives the commitment of quick & hassle-free processing towards the entire loan from application to disbursement.
Balance Transfer Facility: - It allows borrowers of another bank to balance transfer their existing loan to Axis Bank to lower EMI’s.
Collateral-Free Loan: - Get a collateral free loan up to 50 lakhs without pledging any security/assets.
Flexible Loan Tenure: - Axis Bank Loan for Business offers flexible loan tenure ranging from 6 – 36 months. As per your convenience you can choose suitable tenure period to repay loan.
Simple Application: - Whether it’s an online or offline, both mode of application has been eased to avail business loan to meet business needs.
Also Read:-PNB Personal Loan
Axis Bank Business Loan Interest Rate & Details 2021
|Interest Rate||18.00% onwards|
|Loan Amount||Max Loan up to Rs.50 Lakhs|
|Repayment Period||6months – 36 months|
Compare Business Loan Interest Rate in Axis Bank with Top Banks
|Bank Name||Interest Rate|
|HDFC Bank Business Loan||16.00% Onwards|
|SBI Business Loan||11.20% Onwards|
|RBL Bank||19.00% Onwards|
|Lending Kart||18.00% Onwards|
|ICICI Bank||18.00% Onwards|
|Yes Bank||17.00% Onwards|
|Axis Bank||18.00% Onwards|
|Kotak Business loan||16.00% Onwards|
|Tata Capital Finance||17.00% Onwards|
|PNB Business Loan||14.50% Onwards|
|Bank of Baroda||Based on Applicant’s Profile|
Other charges by Axis Bank for Business Loan
Apart from Interest rates, there are few other charges levied by Axis it includes followings: -
|Processing Fee||Up to 2% on loan amount plus taxes as applicable|
|Foreclosure Charges||Up to 4% on remaining loan amount plus taxes as applicable|
|Cheque Dishonour Charges||Rs.500 plus taxes as applicable|
|Account Swap Charges/Repayment Mode||Rs. 500 plus taxes as applicable|
|Charges for No Due Certificate||Rs. 150 plus taxes as applicable|
|Penal Interest||Up to 2% on overdue instalment amount plus taxes as applicable|
Axis Bank business loan calculator helps to calculate monthly payable interest in instant basis, all you have to do is enter required loan amount, interest rate along with required tenure period to repay principal amount.
Eligibility Criteria for Axis Bank Business Loan
To avail business loan, ensure your business profile meet following requirements as given below: -
- Applicant age group should fall between 21 – 65 years at the time of loan maturity
- Business must have at least 3 years of continuity
- Any private limited companies/partnership firms/limited liability partnership/proprietorship firms/unlisted public limited company
- CIBIL score required to be above 750
To avail Mudra Yojana under Axis Business loan, following eligibility needs to be check prior to application: -
- Under Mudra Yojana loan up to Rs.10 Lakhs are funded, therefore the project requirement shouldn’t cross the limit.
- Small Medium Enterprises (SME) sector must be involved in such activities which generate income.
- Businesses engaged in manufacturing, trading, services sectors are eligible to apply.
Business Loans Documents Required
Certain documents required to process borrowers application which are listed below: -
- Proof of Identity: - Aadhar Card/ Pan Card or Voter ID
- Residence Proof: - Utility Bill/ Aadhar Card/ Passport/ Driving License or Bank Statement
- Duly filled application form with 2 passport sized photographs
- Business existence proof (Incorporation certificate, PAN GST, profit & loss balance sheet.
- Form 60/PAN card
- Any other documents required by Axis Bank
How to Apply Axis Bank Business Loan Online via Financeseva?
To avail Axis Bank business loan via Financeseva, you are required to follow few simple steps:-
- Financeseva offers you to compare Kotak business loan with other banks at single platform.
- Get a detailed comparison of business loan schemes, benefits, interest rates, EMI calculator offered by banks.
- Click on Get Quote & fill required details to submit the form, shortly concern representative will get in touch with you for further formalities.
Also Read:- City Union Bank Personal Loan
Axis Bank Business Loan FAQs
What is Axis Bank business loan Interest of rate?
Usually, Axis Bank business loan interest of rate begins from 18.00% per annum.
How to get Axis Bank statement online?
It's much easier to get axis bank statement online - login into the internet banking section –Click & select account-to get detailed statement you can also select custom duration setting along with select format – now you can able to view & instantly statement will be downloaded.
How much processing fee charged by Axis Bank on business loan?
Axis Bank charges nominal processing fee up to 2% on loan amount plus taxes as applicable.
Does Axis Bank offer business loan balance transfer facility?
Yes, Axis Bank offer business loan balance transfer facility to lower your existing loan EMI’s.
Is there any penal interest imposed by axis bank business loan?
Yes, generally a 2% of penal interest charged on amount of overdue instalment.
What is the maximum loan amount offered by Axis bank?
Axis Bank offers business loan maximum loan amount up to 50 lakhs.
Can I get business loan without collateral in Axis Bank?
Yes, Axis Bank business loan offers collateral free loan, borrowers can avail loan without collateral up to Rs.50 Lakhs.
Does Axis Bank charges for foreclosure on business loan?
No, Axis Bank don’t charges anything for pre-payment/foreclosure on your business loan before tenure period ends.
How to track Axis Bank business loan application status online?
It's easy to check application status online: -
- Click on Axis Bank application status to check the status
- You will be asked to enter Application ID & Date of Birth
- Enter the Captcha and click on Enquiry to know your loan application status
How to get MUDRA Loan in Axis Bank?
To avail MUDRA Loan, visit Axis Bank & click on Apply Now Tap to proceed for application, enter required details & submit it. Shortly, Bank representative will review your application and get it touch with you for further formalities.
Axis Bank Business Loan Customer Care Number
For any queries, complaints and feedback regarding the loan, the bank has offered 24/7 customer service. Customers can contact Axis Bank Customer Care through following ways:
You can visit nearest bank branch for any type of queries.
For assistance, call at 18605005555
Connect with Kotak
Visit official website & start an online chat support.
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