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CreditMantri Finserve Private Limited
CreditMantri Finserve Private Limited Unit No. B2, No 769, Phase-1, Lower Ground Floor, Spencer Plaza, Anna Salai, Chennai - 600002
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Axis Bank Business Loan comes with zero collateral or security requirements. Floating rate of interest has an interest in the range of 11.05% to 17.75%. Fixed rate of interest from 14.25% to 20% per annum.
Check your eligibility online and apply for the best business loans at CreditMantri.
Max Tenure
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Best Rate
11%
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Self-employed individuals, manufacturers, traders, and retailers often struggle to manage their finances while expanding their businesses. Axis Bank's business loan offers a flexible solution with collateral-free EMIs, starting from Rs. 50,000.
Axis Bank understands the financial needs of businesses and offers competitive interest rates, beginning at 11% per annum, to ensure affordable financing. The simplified loan application process with minimal documentation and the convenience of online applications enable quick access to working capital. This capital can be utilised to purchase inventory, pay suppliers, or meet other short-term business requirements.
By opting for easy EMIs, businesses can efficiently manage their cash flow and focus on growth.
To qualify for an Axis Bank business loan, several factors come into play, including your business type, financial performance, and creditworthiness.
1. Business Type
Axis Bank offers business loans to a wide range of businesses, such as:
Your business must operate legally and adhere to Indian laws.
2. Business Age
Your business should have been operational for at least three years to demonstrate stability and consistency.
Startups or newer businesses may not qualify for unsecured business loans, but Axis Bank offers specific products tailored to their needs.
3. Annual Turnover
A strong turnover is essential to show your business's ability to repay the loan. Typically, a minimum turnover of ₹30 lakh per annum is preferred for unsecured business loans. Businesses with higher turnovers and profit margins may qualify for larger loan amounts.
4. Credit Score
A good credit score (750 or above) is crucial for loan approval. Both your individual credit history and your business's credit history will be evaluated.
Check your credit score for free here!5. Financial Stability
Your business should have a history of profitability over the past few years, as evidenced by audited financial statements. Additionally, your debt-to-income (DTI) ratio should be within acceptable limits, indicating your business's ability to manage its financial obligations.
6. Loan Applicant's Profile
For proprietors or key partners in partnerships:
Professionals like doctors and CAs applying for business loans must have the necessary qualifications and professional practice licenses.
Charge Type | Description |
---|---|
Processing Fee | Up to 2% of the loan amount + any taxes |
Renewal Processing Fee | Up to 1% of the loan amount + applicable taxes |
Stamp Duty & Other Statutory Charges | As per the state's law |
ROC Filing Charges | Up to Rs. 1,200 + applicable taxes |
Penalty for Not Submitting Stock Statement | Up to 2% of the outstanding loan amount from the default date + applicable taxes |
Penalty for Not Submitting Property/Stock Insurance | Up to 2% additional interest rate on the outstanding amount |
Cheque Bounce Charge | Up to Rs. 500 per instance + applicable taxes |
Penal Interest | 2% p.a. on overdue amount |
No Dues Certificate Charge | Rs. 50 + applicable taxes |
CERSAI Charges | Up to Rs. 100 + applicable taxes |
Part Pre-payment Charge | Up to 2% + GST on the amount that is prepaid |
Foreclosure Charges | 2% to 4% of the principal outstanding + GST |
Benefit | Description |
---|---|
Quick Disbursal | Get your funds fast. |
Simple Process | Easy application with minimal paperwork. |
Affordable Rates | Pay competitive interest rates. |
Flexible Terms | Choose a repayment plan that suits you. |
Tailored Solutions | Get the right loan for your business needs. |
Online Convenience | Apply and track your loan online. |
Collateral-Free Options | Access funds without pledging assets. |
Additional Funding | Get more money when you need it. |
Expert Advice | Get financial guidance from experts. |
Personalised Service | Get dedicated support from your relationship manager. |
Axis Bank provides Instant Business Loans for businesses that need quick financial support without a lot of paperwork.
Key Features and Benefits:
Who is Eligible?
How Can You Use It?
Who is It Ideal For?
Axis Bank provides Startup Loans to help new businesses or entrepreneurs in their early stages of growth.
Key Features and Benefits:
Who is Eligible?
How Can You Use It?
Who is It Ideal For?
Key Features and Benefits:
Who is Eligible?
What Documentation is Required?
Who is It Ideal For?
Axis Bank offers Working Capital Loans to finance day-to-day business operations.
Key Features and Benefits:
Who is Eligible?
What is the Tenure?
Who is It Ideal For?
Axis Bank offers Commercial Loans to help larger businesses and corporations meet their significant financing needs.
Key Features and Benefits:
Who is Eligible?
What is the Tenure?
Who is It Ideal For?
Axis Bank requires the following documents for a business loan application:
1. Duly Filled and Signed Application Form: Complete and sign the business loan application form provided by Axis Bank.
2. KYC Documents: Submit necessary Know Your Customer (KYC) documents, which may include:
3. Recent Photographs: Provide two recent passport-sized photographs of the applicant.
4. Bank Statements: Submit your bank statements for the past 6 months.
5. Financial Documents: Provide relevant financial documents, such as:
6. PAN Card or Form 60: If you do not possess a PAN Card, kindly submit Form 60 instead, along with a copy of your PAN Card.
7. Proof of Business: Provide documents to verify your business existence and operations, such as:
Online Application:
1. Visit the Axis Bank Business Loan Page or their official website.
2. Go to the business loans section and select the specific loan type (e.g., working capital loan, SME loan, startup loan).
3. Hit "Apply Now" and enter your business and personal information, along with your loan requirements, in the online application form.
4. Upload the scanned copies of the required documents.
5. Submit the application and wait for confirmation.
Offline Application:
1. Visit the nearest Axis Bank branch.
2. Consult with a loan officer to discuss loan options and suitability.
3. Submit the completed application form along with hard copies of the documents.
Through a Relationship Manager:
1. Existing Axis Bank customers can contact their relationship manager for assistance with the application process.
2. Pre-approved offers for eligible customers may require minimal documentation and faster processing.
Loan Tenure
Repayment Modes
Axis Bank offers multiple options for loan repayment:
As an example, a business loan of Rs. 10,00,000 at a 12.5% annual interest rate for 5 years would result in an EMI of Rs. 22,498.
You can calculate your loan amount EMI by entering the details here:
Loan CalculatorAxis Bank features several attractive business loan solutions to accommodate the diverse needs of businesses. Here are the key highlights:
Unsecured Business Loans:
MSME Loans:
Specialised Loan Products:
Flexible Interest Rates:
Digital and Quick Loan Approvals:
Other Offers:
Axis Bank assesses a business or individual's creditworthiness to determine if they qualify for a loan. This helps the bank understand if the borrower can repay the loan and manage financial risks.
1. Reviews Financial Documents:
2. Checks Credit History:
3.Analyses Business Performance:
4. Assesses Collateral (if applicable):
5. Verifies Loan Purpose:
6. Evaluates Borrower's Background:
7. Analyses Risk:
8. Evaluates Guarantor or Co-applicant (if applicable):
9. Checks Market and Regulatory Compliance:
10. Approves and Sets Terms:
Disclaimer:All the features, interest rates, steps, and other information specified above are sourced when this page was written and are subject to change. For exact information, refer to the Axis Bank’s website or contact them.
1. What is the minimum loan amount for an Axis Bank Business Loan?
Axis Bank offers business loans starting from as low as ₹50,000.
2. Will I need collateral to apply for an Axis Bank Business Loan?
No, Axis Bank provides collateral-free business loans for eligible applicants.
3. What are the eligibility criteria for an Axis Bank Business Loan?
Your business must be operational for at least three years, have a minimum turnover of ₹30 lakh per annum, and a credit score of 750 or above is preferred.
4. What is the interest rate for Axis Bank Business Loans?
Interest rates range from 9% to 18.50% per annum, depending on the loan type and tenure.
5. How can I apply for an Axis Bank Business Loan?
You can apply online through the Axis Bank website, offline by visiting a branch, or via your relationship manager if you are an existing customer.
6. What documents are required for an Axis Bank Business Loan application?
Key documents include KYC, bank statements, GST returns, audited financials, and proof of business operations.
7. Can I prepay or foreclose my Axis Bank Business Loan?
Yes, you can prepay or foreclose the loan, subject to a fee of up to 4% of the outstanding amount.
Disclaimer:This page includes information that has been compiled from many sources and is only offered for informational purposes. Since this type of data might change over time, we cannot guarantee that the information supplied or included within it is accurate. It is anticipated that the user would confirm with the relevant source prior to taking any choices or actions.
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