Axis Bank Business Loan Full Details

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Axis Bank is one of the leading private sector banks in India. The bank offers a quick, convenient business loan for your short and long-term business requirements, with minimum documentation. Self-employed professionals like doctors, engineers, and chartered accountant who are looking to grow their practice. Professionals can get a business loan up to Rs. 50 lakh without collateral to purchase office space, clinic space, medical equipment, computers etc. 

Self-employed individuals like with business registration, private limited companies, retailers, traders, start-ups, SMEs (Small and Medium Enterprises) & MSMEs (Micro Small Medium Enterprises), manufacturers, educational institutes and hospitals can also get a business loan from Axis Bank.   
Features of Axis Bank Business Loan
Axis Bank business loan comes with a host of benefits described under:
  • Custom made loans: With an Axis Bank business loan, a borrower can get a business loan, as per his business requirement, ranging from 50,000 to 50 lakh without collateral.
  • Simplified access & minimal documentation: Getting a business loan from Axis Bank is simple and hassle free. You can apply for the loan with minimal documentation. 
  • Balance transfer facility: You can transfer your business loan from the current lender to Axis Bank to enjoy user-friendly services and lower interest rate.
  • Flexible repayment tenure: Axis Bank offers business loans for the short and long-term. You can prepay or foreclose the loan without any charges. 
  • Instant approval: The procedure is of getting a personal loan from Axis Bank is completely online with minimal documentation. You can get the loan without paperwork.  
Axis Bank Business Loan Key Details
Interest rate
Business loan – SEP: 14.25% to 18%
Business Loan – SENP: 17% to 20%
Merchant Loan – TL: 15% to 18.2%
Unsecured loan amount
Up to 50 lakh
Foreclosure charges
NA
Prepayment charges
NA
Interest rate type
Fixed
Note: Interest rates are subject to periodic changes and depend on an applicant’s eligibility. 
Axis Bank Business Loan Eligibility Criteria
You need to fulfil the following criteria to get a business loan from Axis Bank
  • Any self-employed professional, such as doctors, engineers, chartered accountants can apply for the business loan. Individuals with business registration, proprietorship firm, partnership firm, Pvt. Ltd companies, unlisted public limited companies, and trust & societies are eligible for a business loan from Axis Bank.    
  • Turnover of the business should be between Rs. 30 lakhs to Rs. 10 crore. 
  • The business should be making profits for the previous 3 years.
  • Applicant should be aged between 21 to 65 years. 
Documents required for Axis Bank Business Loan
You should have the following documents to get a business loan from Axis Bank.
  • ID proof: Aadhar card / voter ID card / driving license / passport / ration card
  • Address proof: Aadhaar card/ passport / voter ID card / utility bill – telephone bill or electricity bill or water bill (for the last three months)
  • Office address proof documents
  • PAN card of firm/company if part of loan structure
  • Income proof:- 
  • Last 2 years audited ITR documents/ financial documents
  • Bank statement of the last 6 months
You can get a business loan from Axis Bank through a variety of financing options
  • Working capital finance
  • Trade finance
  • Export finance
  • Lease rental discounting 
  • Term loans
  • Construction finance
  • Project finance

Other than conventional loan delivery, Axis Bank introduces fast track loan options on time to time to ensure swift credit delivery to the eligible individuals for their business ventures.
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