Axis Business Loan

by Bizopedia · Published February 12, 2022 · Updated June 17, 2022

Axis Business Loan

A Business Loan from Axis Bank is an one stop solution for all of your business finance requirements. Axis Bank is among the top 5 private sector banks in India and has reach pan India with its exhaustive branch networks that spans over every major city in India. Let us look at various features of Axis loan in this article.

Collateral Free

Loan from Axis Bank is a collateral free loan that is provided to all entities and you can get loan up to Rs 50 lakhs without providing any property or collateral security to the bank. Moreover, this loan can be availed for period of 6 to 36 months and is structured in easy to pay EMI each month.

Eligibility

Eligibility criteria for an loan is pretty simple. All you need to have a business which is at least 3 years old. Business turnover should be at least 30 lakhs in last year and applicant should be between age of 21 and 65 years. Following entities are eligible to apply for a business loan from Axis Bank-

Individual (with business registration)
Proprietorship Firm
Partnership
Limited Liability Partnership
Pvt ltd Companies
Unlisted Public Ltd. Companies
Trust & Societies (for educational institutes / Hospitals)

Documents required for a business loan

Following documents are required by Axis Bank for speedy appraisal of your business loan application-

Duly filled in application form signed by the customer
Relevant financial documents
Bank account statement of last 6 months
PAN card/Form 60
Business Proof

Axis Business Loan

Axis loan EMI Calculator

If you want to know more about your monthly EMI for a business loan then you can calculate the same from AXIS EMI Calculator

Application process

Business can apply for a loan from Axis bank by following one of the three mentioned process-

Download the application from Axis website, fill it an dsubmit it to the nearest Axis bank branch
Visit the nearest Axis Bank branch and fill the application form in the branch itself
Fill the application form online and submit respective documents here

Charges and Fees

Axis bank charges following charges and fees for your business loan –

Processing fees for your loan application which can vary between 1.25% to 2% of the loan or overdraft amount
Login fee up to Rs 5000 is charged for every loan application login
Renewal processing fee of 1% plus relevant taxes
Stamp duty and other statutory charges
ROC filing charges up to 1200 Rupees
Check Book issuance charges
Other charges including penal interest, Pre payment, Foreclosure, partial repayment, CERSAI charges, NOC charges etc.

Loan selection by Axis Bank

Axis Bank follows a simple and transparent process for credit appraisal of business loan application. Following are the main criteria for for selection f your loan application-

Healthy cash flows
Professionalism in management.
Satisfactory track record, integrity, corporate governance etc.
Previous repayment track record
Complete documentation

In this post, we have seen various features of a business loan from Axis Bank. If you are interested in Business loan from other major banks then you can visit following links for further information-

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