For self-employed professionals, manufacturers, traders, or retailers managing cash flows while growing can be challenging. Axis Bank’s business loan offers the solution through its collateral-free EMI-based Business Loans starting at just Rs. 50,000. Axis Bank’s business loan interest rates begin from 11% per annum to ensure affordable financing understanding your needs.
With minimal documentation and online applications, these loans provide quick access to working capital to cover inventory, pay vendors, or any other short-term needs while repaying easily in EMIs.
Read further to know more about the details of Axis Bank’s business loan offerings!
Axis Business Loan Highlights
Axis Bank provides customised collateral-free business loans for MSMEs. The table below provides the other major highlights of Axis Bank business loan:
| Loan Type | Business loan |
| Loan Amount | Rs.50,000 to Rs.50 lakh |
| Interest Rate | 11% onwards |
| Collateral | Not Required |
| Tenure | 12 months to 60 months |
Note: Please be informed that the Axis Bank business loan interest rates are subject to change per the market.
Axis Business Loan Fees & Charges
The table below outlines the fees & charges associated with your Axis Bank business.
| Type of Loan | Business loan |
| Interest Rate | 11% p.a. onwards |
| Loan amount | Up to Rs 10 crore |
| Repayment Tenure | 12 months to 60 months |
| Processing fees | 1.25% to 1.50% of the sanctioned loan amount |
Note: Please be informed that the Axis Bank business loan interest rates are subject to change per the market.
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Types of Axis Business Loans
Axis Bank offers various business loans, ranging from MSME-focused solutions to specialized offerings like medical and industrial equipment loans. The list below provides an overview of how the bank supports various sectors like agri traders and processors, including agriculture, through their loan services:
Axis Bank MSME Samriddhi Loans:
Axis Bank MSME Samriddhi Loan provides working capital, non-fund based, and capital expenditure requirements. The loan amount extends from Rs 10.1 lakh to Rs 5 crore and collateral comprises the registered or equitable mortgage of properties, FD & LIC Policy.
Axis Bank MSME Samriddhi Lite:
Axis Bank MSME Samriddhi Lite, an alternative version of the MSME Samriddhi Loans, extends the facility of cash credit and overdraft. With a loan amount ranging from Rs 10.1 lakh to Rs 35 lakh, it provides businesses with flexibility to meet financial requirements.
Axis Bank Small Business Banking:
Axis Bank’s Small Business Banking initiative offers multiple loan variants to assist businesses with a capital turnover of up to Rs 30 crore. Among the options are Axis Bank Cash Credit and Overdraft and Axis Bank Secured Quick Overdraft. Loan amounts within this scheme range from Rs 10 lakh to Rs 10 crore.
Axis Bank Merchant Loan Overdraft
Axis Bank’s Merchant Loan Overdraft provides a collateral-free overdraft facility based on the average monthly swipes through Axis Bank terminals. The loan amount can vary from Rs 5 lakh to Rs 50 lakh, and the facility is renewable at the end of 12 months.
Axis Bank Business Loan (Unsecured)
Unsecured business loans from Axis Bank are aimed at fulfilling various business needs. Businesses can avail of loan amounts ranging from Rs 50,000 to Rs 75 lakh, with flexible tenure options spanning from 1 year to 5 years.
Axis Bank Unsecured Dropline Overdraft
Axis Bank Unsecured Dropline Overdraft is a collateral-free facility designed specifically for doctors and CA professionals. The Axis Bank Unsecured Dropline Overdraft provides loan amounts from Rs 5 lakh to Rs 50 lakh, with a flexible tenure of 2 to 5 years.
Axis Bank Medical Equipment Loan
Designed exclusively for doctors, Axis Bank’s Medical Equipment Loan allows borrowers to leverage their medical equipment for financial support. The loan amount ranges from Rs 10 lakh to Rs 7.5 crore, and the tenure options vary from 1 year to 7 years.
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Axis Bank Industrial Equipment Loan
Axis Bank’s Industrial Equipment Loan aims to help manufacturers seeking financial assistance against their industrial equipment. With loan amounts ranging from Rs 10 lakh to Rs 5 crore, businesses can fuel their growth. The tenure for this loan spans from 1 year to 5 years.
Axis Bank Secured Term Loan
Axis Bank Secured Term Loan is an offering that allows borrowers to utilize funds for the purchase of machinery, property, or business expansion. The loan amount ranges from Rs 5 lakh to Rs 10 crore, and the tenure options extend from 1 year to 15 years.
Axis Bank SME (Small and Medium Enterprises) Loans (Commercial Banking Group)
Under the umbrella of Small and Medium Enterprises (SME) Loans, Axis Bank provides a suite of customized loans through its Commercial Banking Group. These include Axis Bank Zero Collateral Loans (CGTMSE), Axis Bank SME Plus, Axis Bank LCBN Power, Axis Bank Power OD, and Axis Bank MPower. Businesses can access loans with amounts reaching up to Rs 10 crore.
Axis Bank Loan for Agri Traders and Processors
Axis Bank extends financial support to agri traders and processors. These include AGPRO Power Loan, Axis Bank AGPRO Lite, Axis Bank Kisan Mitra Loan, Axis Bank Kisan Mitra Lite Loan, Axis Bank Swift OD Loan, and Axis Bank Warehouse Receipt Loan. These loans address the specific needs offering amounts ranging from Rs 10.1 lakh to Rs 5 crore.
Axis Bank Warehouse Receipt Loan
Axis Bank’s Warehouse Receipt Loan scheme provides financial solutions against warehouse or storage receipts of approved agri commodities. Divided into categories such as Axis Bank Commodity Power Loan, Axis Bank Commodity Lite, and Axis Bank Commodity Quik, this facility assists borrowers in avoiding distress sales during harvest and neutralizing seasonality.
Axis Business Loans Eligibility Criteria
Here is the listicle that helps you understand the win a detailed manner:
- Individual: Individuals with registered businesses are eligible for Axis Bank business loans.
- Age: 21-70 years
- Proprietorship: Proprietorship firms can avail of business loans from Axis Bank.
- Partnership: Partnerships are eligible constitutions for Axis Bank business loans.
- Limited Liability Partnership: LLPs can apply for business loans from Axis Bank.
- Private Limited Companies: Private Limited Companies have eligibility for Axis Bank business loans.
- Companies: Unlisted Public Ltd. companies are eligible for Axis Bank business loans.
- Trust & Societies: Trusts and Societies associated with educational institutes or hospitals can apply for Axis Bank business loans.
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Documents Required for Axis Business Loans
When applying for an Axis Business Loan, ensure you have essential documents handy. These documents are required when applying for Business Loan:
- KYC Documents.
- Duly filled in the application form signed by the customer.
- Relevant financial documents.
- Bank account statement for the last 6 months.
- PAN card/Form 60.
- Business Proof.
Axis Business Loan Interest Rates Vs Other Lenders
Here’s a comparative analysis of Axis Bank and various lenders like ICICI Bank, Kotak Mahindra Bank, and SBI as they have their own rates, providing business loan services with a range of options:
| Banks | Interest Rate |
|---|---|
| Axis Bank | 11% p.a. onwards |
| Indusland Bank | 13% to 22%. |
| State Bank of India | MCLR + 2.30% p.a. |
| HDFC Bank | At the discretion of the bank |
| Indian Overseas Bank | At the discretion of the bank |
| Bandhan Bank | 10.6% – 16.64% p.a |
| ICICI Bank | 12.50% – 13.60% p.a. |
| RBL Bank | 12.25% – 25% p.a. |
Note: Please be informed that the Axis Bank business loan interest rates are subject to change per the market.
Benefits of Axis Financing
Here are the major features and benefits of Axis Bank Business loan:
Axis Business Loan Customer Care Number
For Axis Business Loan Customer Care and Phone Banking Services, business customers can dial the following numbers:
- 1-860-419-5555 or 1-860-500-5555 (charges applicable) for general inquiries, and 1800-103-5577 for toll-free emergency services such as card blocking.
- Accessible 24×7, these services offer a range of conveniences, including information about products, chequebook requests, and more.
Steps to Apply for Business Loan on Buddy Loan
Buddy Loan provides you the opportunity to avail a business loan starting at an interest rate of just 11.99% per annum. Follow the steps below to avail the loan now!
- Step 1: Visit buddyloan.com or Download & install the Buddy Loan app (Android or iOS).
- Step 2: Open the business loan application page. Enter your mobile number and OTP.
- Step 3: Specify the desired loan amount and email. Next, choose the Business Loan option.
- Step 4: Choose if you have a Business Proof (Yes/ No)
- If ‘Yes’ (If you have a business proof), enter your business and personal details.
Or - If ‘No’ (If you do not have a business proof), choose the profession type and enter your personal details.
- If ‘Yes’ (If you have a business proof), enter your business and personal details.
- Step 5: Provide income details and Click the ‘Submit’ button.
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