Axis Bank provides collateral-free EMI-based loans to a business entity planning to develop and grow the existing business. The loan is open for the highest value of Rs 1, 50, 00,000 at affordable charges. The processing fees depend on various factors and range between 1.25 per cent to 1.50 per cent of the approved loan amount. If the borrower fails to pay an instalment, he will be required to pay an additional interest of 2 p.a. However, foreclosure details and charges are not specified. Avail of this facility for business purposes and use the benefits of the service.

Suppose you are an engineer, doctor, or chartered accountant and want to avail a business loan. In that case, Axis Bank provides collateral-free business loans that can be repaid in easy equated monthly instalments (EMIs).

Axis Bank provides business loans in the range of Rs.50,000 to Rs.50 lakh at interest rates that are determined according to your business profile, loan value, financial evaluation, loan period, and past track record.

You can also avail of business loans from Axis Bank under the Pradhan Mantri Mudra Yojana (PMMY).

Loan Details

Loan Amount	Rs.50,000 to Rs.50 lakh
Interest Rate	11.50% to 20%
Collateral	Not Required
Processing Fee	As per the discretion of the lender

Application Process

You can apply for a business loan from Axis Bank in two modes – online and offline.

To apply for a business loan from Axis Bank online, you should follow the steps given below:

Reach the official website of Axis Bank.

• Hit the ‘Business Loan’ tab.
• You will be forwarded to a page where all the features of the loan will be given.
• Go through the details given on the page and hit the ‘Apply Now’ button once you choose to avail of the loan.
• A new page will open in a separate tab wherein you have to fill in your details such as name, email ID, mobile number, state, and city.
• When you click on the submit button, you will be forwarded to the further steps.
• If you choose the offline process of the loan application, you can visit the nearest branch of Axis Bank, where the bank officials will guide you through the loan application process.

Small and Micro Standard

Axis Bank provides a wide range of opportunities for SME companies and businesses in the growth stage that includes Micro & Small Enterprises (MSE) so that there is timely availability of credit as it is an essential ingredient required for any business to keep progressing. As such, Axis Bank gives various services varying from Funded to Non-Funded, from Short Term to Long Term, and from Credit to Trade Services, to assure that you get to finance the way it is best befitted for your business.

Cash Credit

Axis Bank provides Cash Credit assistance to meet your day-to-day working capital requirements. Interest is imposed not on the authorized amount but the used amount.

Working Capital Demand Loan

Axis Bank also provides working capital facilities in the form of a Working Capital Demand Loan in its place of a cash credit facility. The primary or collateral security will be as stated in the cash credit facility. 

Export Finance

Axis Bank presents finance for export enterprises in the form of Pre-Shipment Credit alongside firm order Post shipment credit Finance, and Letter of Credit are allotted in Indian or foreign currency subject to the borrower’s requirement.

Short Term Loan

You may like Working Capital assistance to come across your day-to-day working capital necessities and Term Loan for your CapEx. 

Term Loan

Given the growing possibilities, your business values, you may need long-term assets for CapEx or capacity developments or plant transformation, and so on. Keeping these necessities in mind, they provide term loans up to a suitable tenor with the relevant moratorium if required and repayment possibilities structured by your calculated cash flows. 

Clean Bill Discounting

Axis Bank presents clean bill discounting assistance to supply your receivables. This service is given for 3-6 months, dependent upon the tenor of the bill.

LC Backed Bill Discounting

Axis Bank discount trade bills have been drawn following the Letters of Credit provided by reputed banks to fund your receivables. This capability is provided for 3-6 months conditional upon the tenor of the bill or Letter of Credit.

Co-Acceptance of Bills

Axis Bank also gives co-acceptance of trade bills liable upon the need of the borrower.

Credit Facilities on Guarantee or Stand by Letter of Credit granted by Foreign Bank

Many foreign firms set up a subsidiary in India. Axis Bank allows funding to such companies on guarantees or SBLCs of suitable foreign banks.

Letter of Credit

Apart from the fund-based working capital facilities, we give a variety of Non-Fund Based aids such as letters of Credit, Bank Guarantees, Solvency certificates, etc. Such LCs are for contracts varying from 1-3 years, depending upon the borrower’s requirement.

Bank Guarantee

Axis Bank provides Bank Guarantees on the part of their customer to various other bodies such as Government, quasi-government agencies, corporate, and so on. 

Solvency Certificates

Axis Bank also provides a solvency certificate depending upon the requirement of the borrower.

Eligibility Criteria

To apply for a business loan from Axis Bank, you have to fulfil the eligibility criteria given below:

Business Vintage	Should be in the equivalent line of business for minimum 3 years
Business Turnover	Minimum of Rs.30 lakh
Age	21 years to 65 years

The subsequent individuals are qualified for availing a business loan from Axis Bank:

• Partnership enterprise
• People with business registration
• Private Limited Firms
• Proprietorship Companies
• Limited Liability Partnerships
• Trust and Societies (for hospitals/educational entities)
• Unlisted Public Limited Businesses

To apply for business loans following the Mudra Yojana, the eligibility criteria are as follows:

• Small and micro-enterprises should be involved in activities that produce income.
• The ventures should fall under the manufacturing, trading, and services sector, which involves agricultural projects.
• The credit needs of the business should be within Rs10 lakh.

Documents Required

When you avail of a business loan from Axis Bank, you will be required to provide the below-given documents:

• Income Tax Returns (ITR) for the last two years
• Form 60 and PAN Card of all applicants/co-applicants/guarantor
• Know-Your-Customer (KYC) documents
• Audit Report
• Business Proof
• Application form duly filled and signed by you
• Statement of your bank account for the last six months
• FAQs on Business Loan
• Which organizations are eligible for a business loan from Axis Bank?
• Individuals (with business registration), a proprietorship firm, partnership corporation, Limited Liability Partnership, Pvt ltd entities, Unlisted Public Ltd. organizations, and Trust and Societies are suitable for business loans from Axis Bank.
• I have just begun my business. Will I be qualified for a line of credit?
• Sadly, no. To avail a line of credit from Axis Bank, your company should be under current ownership for at least three years.
• Does Axis Bank provide loans to the MSME sector?
• Yes, following the Micro, Medium, and Small Enterprise (MSMED) Act, 2006, Axis Bank provides loans to the MSME sector through 41 dedicated cells/centres expanded across the country.
• Can I avail myself of a Mudra loan from Axis Bank?
• Yes, Axis Bank provides Mudra loans wherein you can apply for a loan of up to Rs.10 lakh to start your income-generating enterprise.
• I wish to avail an MSME loan from Axis Bank. How long will it take for me to get the loan amount in my account?
• All loans approved by Axis Bank to the MSME sector will be disbursed within two working days, given all terms and conditions are satisfied. The bank can give prompt loan disbursement because of its dedicated credit operations team.
• Will I receive a business loan from Axis Bank to begin a greenfield project?
• Yes. Axis Bank gives a business loan to start a greenfield project for the business of expansion projects.
• What’s the rate of interest for a term business loan?
• The term loan rate varies from 11.05 per cent p.a. to 12.05 per cent p.a. for term business loans, whereas for fixed-rate loans, the interest rate ranges from 14.25 per cent p.a. to 20 per cent p.a. However, the final rate granted to you is entirely at the bank’s discretion.