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Axis Finance Business Loan
Axis Finance offers unsecured loans specifically targeted towards self-employed women over the age of 50 who are actively involved in manufacturing, trading or services sectors. These loans can be utilised to cover a broad range of business expenses, ranging from working capital requirements to equipment acquisition, business expansion, or even refurbishment. It's worth noting that applicants aren't required to secure the loan against any collateral.
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Axis Finance Business Loan
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Axis Finance Business LoanHere are a few factors
| Location | 50Km from Branch |
| CIBIL Score | 650+ |
| Processing | Offline |
| Business Vintage | 3 Year |
| Minimum Turnover | 1Cr+ |
| Loan Amount & Tenure | 1
Lac-50 Lac ( 12 Month to 48 Month) For Doctors 60 Month |
| Loan Product | Fixed EMI Based |
| Rate of Interest & Type | 18% to 24% (Reducing)) |
| TAT | Sanction
3 Days Disburse-7 Days |
| Processing Fees | 2% |
| Foreclosure Charges | 4% after 12 month |
| Applicant Type | Any Self Employed Person |
| Whether Co-Applicant Mandatory | Yes |
| Proprietor Age/Co-Applicant Age | 24 Year-65 Year |
| Part Payment Allowed | Yes |
| Whether Ownership Proof Required | Yes, either office or residence one should be owned within Lending Branch Jurisdiction |
| Business Registration Proof Mandatory | Yes |
| Program | Banking Program-25 Lac, GST Program-25 Lac, Income Program-40 Lac |
| Product for Professionals | Yes, For Doctors Repayment Period 60 Month |
| Negative Profile | Both Side Rented, School, Advocates, Jewellers, Share Traders, Liquor Business, Real Estate |
| USP | No Financial upto 25 Lac |
| Additional | 1.
51% Shareholding required on Loan if applicant is LLP/Partnership
firm/Company 2. Civil Contractor, Travel Profile are call base profile |
Axis Finance Business Loan EMI Calculator
Interest Type
Loan Amount
Interest Rate
Loan Tenure
| Loan Amount | ₹100,000 |
| Interest % | 18 % |
| Tenure (months) | 12 |
| Emi (monthly) | ₹ 9,168 |
| Total Interest | ₹ 10,016 |
| Loan Amount + Interest | ₹ 110,016 |
| Year | Total Principal ( A ) | Total Interest ( B ) | Balance ( A + B) | Total Payment | Loan Paid Till Date (%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ₹ 23,351 | ₹ 4,153 | ₹ 27,504 | ₹ 76,649 | 23.35 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ₹ 76,651 | ₹ 5,861 | ₹ 82,512 | ₹ 0 | 100.00 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Required Documents to Apply for Axis Finance Business Loan
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KYC of applicant & Co-Applicant
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Last 3 year ITR with computation of income of applicant & co-applicant
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Last 3 year audited balance sheet of applicant
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Last 3 year Tax audit report of applicant
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Last 12 month Bank Statement of applicant & co-applicant
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26AS of last 2 year of applicant & co-applicant
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Copy of GST registration
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Copy of MSME registration
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Copy of Last 12 month GST return
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Sanction letter of all running loan
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Debt Sheet
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Latest utility Bill of residence if owned or rent agreement if rented
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Latest utility Bill of Office if owned or rent agreement if rented
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2 Reference with contact details
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Last 3 year Debtors & Creditors on letter head
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List of Directors & Shareholders, if applicant if Company or List of Partners if applicant is Partnership firm/LLP
Some Important Points
If Applicant is
- Company-MOA, AOA, COI , PAN Card
- Partnership Firm/LLP- Partnership Deed & PAN Card
- Proprietorship Firm- PAN Card, Adhaar Card, Passport size photo
- KYC means Adhaar Card, PAN Card, Passport Size Photo
- Company : Directors
- Partnership firm/LLP : Partners
- Proprietorship Firm : Spouse of Proprietor
About Axis Finance Business Loan
Axis Finance Business Loan, formerly known as Ratnakar Bank, is an Indian private sector bank. It offers services across six verticals: corporate and institutional banking, commercial banking, branch and business banking, retail assets, development banking and financial inclusion, treasury and financial market operations. To meet short-term funding and working capital needs, Axis Finance Business Loan provides completely secured business loans. You can obtain money from the bank to expand your firm. The maximum loan amount granted by the Axis Finance Business Loan is up to Rs. 35 lakh with a repayment period of up to 36 months, and the interest rate on business loans ranges from 17.50% to 21% p.a.
If you are looking to grow your business without worrying about the finances, then Axis Finance Business Loan is your way to go! You can easily avail of a business loan from Axis Finance Business Loan which is well supported by their dedicated team and staffs. They offer the most competitive interest rates in the market with a hassle-free documentation process. So, moving ahead let’s explore and find more about Axis Finance Business Loan.
Save Your Time with a Simple Loan Process
Visit Our Website
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Select and Apply
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
Submit Your Document
One of the most important steps. Now you will have to submit all the required documents digitally.
Enjoy Your Financial Freedom!
Once your application is approved based on your eligibility, you will receive your loan amount shortly.
FREQUENTLY ASKED QUESTIONS
The Axis Finance Business Loan is an unsecured loan product designed specifically for the self-employed MSME segment. It aims to facilitate various business expenditures. It is distinctive in that the borrowers are not required to mortgage any assets to avail the loan.
Axis Finance Business Loan offers several benefits including collateral-free loans up to Rs. 50 lakhs, flexible repayment tenure ranging between 6 to 36 months, competitive interest rates starting at 14.99% p.a., quick processing with minimal documentation, and an online platform for application and tracking.
Axis Finance Business Loan is accessible to self-employed individuals, professionals, sole proprietorships, partnerships, private limited companies, and closely held limited companies. Entities engaged in manufacturing, trading, or service provision are eligible to apply.
To qualify for an Axis Finance Business Loan, the applicant must be a minimum of 21 years and not exceed 65 years at the time of loan maturity. The business must have a minimum vintage of 3 years and show an annual turnover of Rs. 30 lakhs as per the most recent audited financials. Net profit should be at least Rs. 2 lakhs according to the latest audited financials. A minimum credit score of 700 is also mandatory.
The interest rates for the Axis Finance Business Loan start at 14.99% p.a. Additional charges include a processing fee of up to 2% of the loan amount plus GST, no prepayment charges for loans up to Rs. 25 lakhs and up to 5% of the outstanding amount plus GST for larger loans, late payment charges of up to 2% per month on the overdue amount plus GST, and cheque bounce charges of Rs. 500 per instance plus GST.
The Axis Finance Business Loan can be repaid in equated monthly installments (EMIs) through various methods including the electronic clearing service (ECS), post-dated cheques (PDCs), or via standing instruction (SI) from your bank account.
Yes, the Axis Finance Business Loan can be prepaid or foreclosed after a minimum of 6 EMIs
There are no charges for prepayment for loans up to Rs. 25 lakhs. For loans above this amount, a charge of up to 5% of the outstanding loan amount plus GST applies.
Defaulting on an Axis Finance Business Loan can lead to several consequences. It can adversely affect your credit score, making it difficult to avail future loans. Late payment charges and penal interest are applicable to the overdue amount. Legal notices and recovery calls may be issued by Axis Finance. If the default persists, your loan account may be classified as a non-performing asset (NPA), leading to potential legal action.
You can reach out to Axis Finance for any queries or complaints through their toll-free number 1800-419-0068 or by sending an email to [email protected]. You can also use the online feedback form available at https://www.axisfinance.in/contact-us/feedback-form or reach out to the grievance redressal officer via https://www.axisfinance.in/contact-us/grievance-redressal.
A business loan is a certain amount borrowed from any lender for the purpose of starting or expanding a business.
The minimum ROI of an Axis Finance Business Loan is 18% per annum
The maximum ROI of an Axis Finance Business Loan is 24% per annum
The highest loan amount you can avail with an Axis Finance Business Loan is Rs. 50 Lacs
The minimum loan amount you can avail of with an Axis Finance Business Loan is Rs. 1 Lac.
The Axis Finance Business Loan processing fee is between 2% of your loan amount.
The minimum repayment tenure of an Axis Finance Business Loan is 12 months.
The maximum repayment tenure of the Axis Finance Business Loan is 48 months.
Yes, you can apply for an Axis Finance Business Loan anywhere from India as it holds PAN India access.
The required minimum business turnover to apply for an Axis Finance Business Loan is Rs. 1 Crore.
To apply for Axis Finance Business Loan your Minimum CIBIL score must be 650
No, to apply for an Axis Finance Business Loan your Minimum CIBIL score must be 650.
Yes, to apply for the Axis Finance Business Loan your Minimum CIBIL score must be 650
You can go to the official website of Axis Finance or you can also switch to ReferLoan for an easy and smooth loan application process.
The acceptance of a low cibil score for Axis Finance Business Loan differs from case to case.
The minimum required age to apply for an Axis Finance Business Loan
The maximum required age to apply for an Axis Finance Business Loan is 65
Yes, either office or residence should be owned within the Lending Branch Jurisdiction, to apply for an Axis Finance Business Loan.
No, Axis Finance does not offer an OD Limit on Business Loans.
If you are planning to apply for an Axis Finance Business Loan, your business’s minimum vintage must be 3 years.
Any Self-employed individual can apply for an Axis Finance Business Loan
Yes, it is mandatory to provide a Co-applicant to apply for an Axis Finance Business Loan.
Yes, it is mandatory to provide Business Registration Proof to apply for an Axis Finance Business Loan.
No, you can’t apply for an Axis Finance Business Loan for a School.
No, any business of Real Estate is considered an adverse profile in Axis Finance Business Loan.
No, any business related to Jewellery is considered an adverse profile in the Axis Finance Business Loan.
No, any business related to Liquor is considered an adverse profile in the Axis Finance Business Loan.
No, Advocacy is considered as an adverse profile in Axis Finance Business Loan.
No, share traders are considered an adverse profile in Axis Finance Business Loan.
Yes, partial payment is allowed in an Axis Finance Business Loan.
The foreclosure charges on an Axis Finance Business Loan is 4%
It is an unsecured loan so the applicant won’t need to provide any collateral.
No, Axis Finance requires 51% shareholding on its small segment business loan if the applicant is an LLP/Partnership firm/Company.
Axis Finance takes 7 days for the disbursement of a personal loan
Axis Finance takes 3 days for the confirmation of a personal loan
Yes, you can apply for an Axis Finance Business Loan online
The customer care number of Axis Finance is 1800–103–5577
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