Axis Bank Business Loan

Business Loan

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    About Axis Bank Business Loan

    Axis Bank offers collateral-free EMI based loan to a business entity planning for the expansion and growth of the existing enterprise. The loan is available for the highest value of ₹1,50,00,000 at affordable rates. The processing charged depends on multiple factors and ranges between 1.25% to 1.50% of the sanctioned loan amount. If the borrower fails to pay an instalment then he needs to pay an additional interest of 2% p.a. However, foreclosure details and charges are not specified. Avail this facility for business purpose and enjoy the benefits of the service.

    Axis Bank Business Loan Interest Rates

    Interest RateThe interest rates will be based on the assement of business profile,financial assessment, past track record, loan amount as well as tenure
    Loan AmountUp to ₹50,00,000
    Tenure36 months
    Processing Fee1.25% - 1.50%
    Type of LoanUnsecured
    Cheque Bounce Charges₹500
    Penal Interest Rate2% p.a. additional on existing rate of  interest
    Foreclosure ChargesNot specified

    How To Apply

    You can apply for Axis Bank business loan through different channels. You can apply in person by visiting the nearest branch office or virtually by availing online services.

    Axis Bank Business Loan EMI Calculator

    Business Loan EMI Calculator is a calculator designed to calculate the amount of EMI, payable each month to amortize the loan. The EMI computed includes the loan amount and the interest charged on the loan. This value remains the same throughout the tenure of the loan at fixed rate of interest.

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    For example – If I avail a business loan of ₹50,00,000 to enhance the business productivity for the period of 3 years at an interest rate of 14.25%, to know the EMI using the Calculator is helpful here.

    Table Showing EMI, Interest Outgo, and Total Repayment Amount

    Loan AmountInterest RateTenureMonthly InstalmentTotal Interest AmountTotal Amount
    ₹ 50,00,00014.25%1₹ 4,49,524₹ 3,94,287₹ 53,94,287
    ₹ 50,00,00014.25%2₹ 2,40,655₹ 7,75,729₹ 57,75,729
    ₹ 50,00,00014.25%3₹ 1,71,496₹ 11,73,852₹ 61,73,852

    EMI, Total Interest Outgo, Total Repayment (Interest + Principal)

    YearPrincipalInterestBalance Amount
    1₹ 14,36,898₹ 6,21,052₹ 35,63,101
    2₹ 16,55,573₹ 4,02,377₹ 19,07,527
    3₹ 19,09,540₹ 1,50,423₹ 0

    Features And Benefits

    • No collateral is required
    • Less Documentation
    • Timely disbursal
    • Low processing fee of 1.25% – 1.5% is charged
    • Online application facility
    • Competitive rate of interest

    Axis Bank Business Loan Eligibility Criteria

    The candidates with business registration under following categories are eligible to apply for the business loan-

    • Proprietorship Firm
    • Partnership
    • Limited Liability Partnership
    • Pvt Ltd. Companies
    • Unlisted Public Ltd. Companies
    • Trust & Societies (for educational institutes / Hospitals)

    The applicant must be of age between 21 years to 65 years. The business vintage of minimum 3 years is essential along with annual turnover ranging from ₹30 lakhs to ₹10 crores.

    Axis Bank Business Loan Application Form

    The candidates applying for a business loan need to fill the Emerging Enterprise Group Facility Application Form available at the nearest branch office and online. The appropriate details need to be filled in the following sections:

    • Name of loan
    • Constitution (Proprietorship, Individuals, Partnership Firm, Private Ltd., Public Ltd, Trust or other)
    • Account number
    • Name of the firm
    • Applicant details and recent photograph
    • Firm details (Office address, website, date of incorporation, industry  type)
    • Contact details
    • Residence address
    • Co- obligant/ Guarantor details along with recent photograph
    • Income details
    • Loan details
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    Documents Required

    • KYC documents
    • PAN Card/ Form 60 For All Applicant/Co- applicant/Guarantor
    • Last 2 years Income Tax Return document
    • Bank statements for the last 6 months
    • 2-year financials including Profit & Loss (P&L) statement and balance sheet
    • Documents related to establishment of entity, identity and address proof documents

    List Of KYC Documents

    ID Proof Address Proof
    PAN CardTelephone Bill
    Driving LicenseElectricity Bill
    Voter IDID Card Issued by Post Office
    Government ID CardBank Statement with Cheque
    Senior Citizen ID CardAny other ID proof or address proof document can be submitted subject to bank's satisfaction

    Factors Affecting Business Loan Eligibility

    The bank assesses the borrower’s business and sanctions the loan for business entities with:

    • Acceptable internal/external rating
    • Healthy cash flows
    • Sustainable business model
    • Leadership in business
    • Professionalism in management
    • Satisfactory track record
    • Corporate governance

    Axis Bank Business Loan Fees and Charges

    The interest rate, processing fee, transaction charges that are charged to the customer is decided on the basis of a number of factors including –

    a) Credit rating of the borrower

    b) Availability of collateral security

    c) Business model of the entity and

    d) Satisfactory market reference

    Personal Loan Interest Rates March 2024
    HDFC Bank10.75% - 14.50%
    ICICI Bank10.75% - 19.00%
    IndusInd Bank10.25% - 26.00%
    Kotak Bank10.99%
    RBL14.00% - 23.00%
    SMFG India Credit12.00% - 24.00%
    Standard Chartered Bank11.49%
    Tata Capital10.50% - 24.00%
    Home Loan Interest Rates March 2024
    Axis Bank8.75% - 9.15%
    Bank of Baroda8.50% - 10.60%
    Citibank8.75% - 9.15%
    HDFC8.50% - 9.40%
    ICICI Bank9.00% - 9.85%
    Indiabulls Housing Finance Limited8.65%
    Kotak Bank8.70%
    LIC Housing8.50% - 10.50%
    Piramal Capital & Housing Finance10.50%
    PNB Housing Finance8.50% - 10.95%
    Reliance Home Finance8.75% - 14.00%
    State Bank of India/SBI9.10% - 9.65%
    Tata Capital8.95% - 12.00%