
Axis Business Loan
Secure your financial needs with the Axis Bank Business Loan with competitive interest rates starting at 17%.
Loan Details
Interest Rate
11% onwards
Processing Fee
Up to 2.00%
Prepayment
Charges
NIL
Tenure
Upto 3 years
- Eligibility Factors
- Documents Required
- Loan Verification Process
- Rate of Interest
- The company should have a minimum annual revenue of Rs. 30 lakhs.
- A minimum annual income (ITR) of Rs. 1.5 lakhs is necessary for the company.
- Those that have made a profit in their business for the previous two years
- Self-employed persons, proprietors, private limited liability, and
partnership firms engaged in the manufacturing, trading, or service
industries. - Individuals with a minimum of 3 years in the existing business and a total
of 5 years in the business. - The borrower must be at least 21 years old at the time of loan application
and no more than 65 years old at the time of loan maturity.
Self-employed candidates are required to submit the documents listed below along with the ones mentioned above:
- Proof of business establishment
- Address proof of Business
- Proof of Business continuity of the past 3 years
- Latest ITR along with computation of income
- Balance Sheet and Profit & Loss account for the previous 2 years, after being CA Certified/Audited
- Copy of bank statement of the past 180 days
- Proof of earnings of the last 6 months
Identity Proof
● Driving License
● Aadhar Card
● Valid Passport
● PAN Card
● Voter ID
Proof of Residential Address
● Utility Bill
● Approved Building Plan
● Valid Passport
● Voter ID
● Registered Rent Agreement
Birth Date Proof
● Driving License
● Valid Passport
● Voter ID
● Aadhar Card
The loan verification proceeds in the following stages:
1. Fill the Axis Bank business loan application form and upload it on the official website or wherever required. Submit copies of all the relevant documents required for application verification. It can be quickly done by signing up on apnapaisa.com.
2. One of our customer care representatives will get back to you within 24 hours and schedule visits for collecting document copies (in case you chose offline submission of documents).
3. The concerned officials at Axis Bank verify the documents and the details there. They may visit the property if necessary.
4. Once your application for a personal loan is approved, the loan amount will be disbursed to your account, and you will get a copy of the duly signed loan agreement containing details of loan interest, tenure, loan amount, charges, and penalties.
Axis Bank provides affordable and convenient personal loans with EMIs as low as Rs. 2,624 per lakh for a 36-month term and a rate of interest as low as 11.50%. The interest rate is fixed and charged every month. It is calculated on the amount overdue, i.e., the amount to be repaid after the EMI and interest are paid.
Other Charges of Axis Bank Business Loan
Loan Amount
Min. Rs. 50,000 & Max Up to Rs. 50 Lakh
Tenure
Up to 36 months
Axis Bank Business Loan Interest Rate
Starting from 11.50%
Loan Processing Charges
Up to 2% + GST as applicable
Penal Interest
2% p.m. on the amount of overdue instalment
Pre-payment charges
NIL
Non Due Certificate (NOC)
Rs. 150 + applicable taxes