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Axis Bank Business Loan - Apply Online Now

4.8 stars based on 63 reviews

Business Loan Details

Company Details

Turnover

Net Profit After Tax

Depreciation

Director/Partner Salary

(Not Applicable for Proprietorship Firm)

Personal Details

Bank/NBFCInterest RateEMIProcessing Fees Part PaymentApply Now

13.5% - 24%

(Fixed)

4728

upto 2.5%

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Axis Bank Business Loan Details

Axis Bank Business Loan

Axis Bank Business Loan is catered into two parts: Solution for Corporates and Solution for Small & Medium Enterprises (SMEs). As a solution for corporates, Axis Bank offers working capital finance by way of overdraft, cash credit or working capital loans. These are structured suitably to the corporate needs and the risk profile as a part of a consortium or as a sole banker. The main aim is to improve the liquidity of your business and also speed up all the process with internet banking and phone banking etc. Particular demands related to the expansion of business and up gradation of facilities can increase pressure on the finances of a company and hence Axis Bank helps to structure the credit solution to meet the specific long term or short term financial requirements. 

The MSMED ACT, 2006 of Reserve Bank of India defined the Medium, small and micro enterprise in both manufacturing and service sector. But Bank also selectively classifies particular business segments as part of SME lending. Irrespective of the obligor the channel funding or vendor financing is part of SME. 

Axis Bank Loan against Property

As the name suggests, here Axis bank provides loan against your property. Also, this loan can be availed to acquire new property. A takeover of existing loan with refinancing is also available here.
Under loan against property following four products can be availed:

1) Loan against property – Residential

2) Loan for the purchase of commercial property

3) Loan against property – Commercial

4) Take-over of existing loan with additional refinance (Balance Transfer).

Features & Benefits

• Attractive interest charges
• Balance Transfer facility offered with extra finance
• Doorstep facility

Terms & Conditions of Axis Bank Business Loan against Property

Repayment: Repayment period is maximum 15 years.
Security: Equitable Mortgage of the goods to be funded, by way of payment of title deeds.
Insurance: Client can gain Property & Personal Accident insurance cover as per the guidelines and schedules with the insurer/underwriter. This is discretionary.
Processing Charges or Admission Fee: Minimum login charges of Rs 4000 will be charged plus a processing fee equal to 1% of the loan amount approved (taxes as applicable).
The penalty for early closure: 2% will be charged if the sum surpasses 25% of the principle unsettled during a quarter, otherwise no penalty.
Other Conditions:
o Bank reserves the right to scrap any request without assigning explanations thereof
o The aspirant will undertake to notify the Bank as and when there is an alteration in address or employment

SME Standard

Axis Bank offers a wide range of opportunities for SME businesses and businesses in the growth phase that includes Micro & Small Enterprises (MSE) so that there is timely availability of credit as it is an integral ingredient needed for any business to keep growing. As such Axis Bank offers a variety of services ranging from Funded to Non-Funded, from Short Term to Long Term and from Credit to Trade Services, just to ensure that you get finance the way it is best suited for your business.

Cash Credit

Axis Bank offers Cash Credit services to meet your day-to-day working capital needs. Interest is charged not on the authorised amount but the used amount.

Working Capital Demand Loan

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

Export Finance

Axis Bank provides finance for export activities in the form of Pre-Shipment Credit alongside firm order Post shipment credit Finance and or Letter of Credit is delivered in Indian or foreign currency subject to the need of the borrower.

Short Term Loan

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

Term Loan

Given the growing opportunities, your business appreciates, you may need long-term assets for CapEx or capacity expansions or plant transformation and so on. Keeping these requirements in mind they provide term loans up to suitable tenor with the appropriate moratorium if required, and repayment opportunities structured by your projected cash flows. 

Clean Bill Discounting

Axis Bank provides clean bill discounting services to supply your receivables. This service is provided for 3-6 months dependent upon the tenor of the bill.

LC Backed Bill Discounting

Axis Bank discount trade bills drawn under Letters of Credit supplied 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 offers co-acceptance of trade bills liable upon the necessity of the borrower.

Credit Facilities against Guarantee or Stand by Letter of Credit allotted by Foreign Bank

Various foreign firms set up a subsidiary in India. Axis Bank offers to fund to such companies against guarantees or SBLCs of suitable foreign banks.

Letter of Credit

Apart from the fund based working capital facilities we offer a variety of Non-Fund Based services such as Letter of Credit, Bank Guarantees, Solvency certificates, etc. Such LCs are for contract ranging from 1-3 years depending upon the need of the borrower.

Bank Guarantee

Axis Bank offers Bank Guarantee on behalf of their customer to various other bodies such as Government, quasi-govt agencies, corporate and so on. 

Solvency Certificates

Axis Bank also offers solvency certificate depending upon the necessity of the borrower.

SME Fast Track

For SMEs, Axis Bank offers fast track loans under the following schemes, with approval subject to fulfilment of terms and conditions including risk analysis on the Management, Business, Financial parameters etc.

Types of Loans offered

Axis Bank offers fast track loans for SMEs under the following structures. 
• Financing to Non-Priority Sector Entities
• Term Loan against Property
• Overdraft against Property
• Zero Collateral Loans to SSI Units (ZCL)
• Lease Rent Discounting
• Smart Swipe Credit Line
• Business Loan for Property (BLFP)

Features & Benefits

• Loans up to INR 50 millions.
• Fast processing and quick disbursement
• Attractive market-related interest rates
• Flexible repayment options of up to ten years

Why should you choose Axis Bank Business Loan?

There are various features offered by Axis Bank for the corporate house and also for SMES. The few of the reasons are as follows: They provide structured financing solution for project funding, real estate, infrastructure and other corporate purposes. The business loans are structured to enhance the profitability by scheduling the repayment of interest in such a manner that it matched with the cash flow available. Advisory services are also provided to companies for syndication of the required term loans to a comprehensive spectrum of financial institutions. Also there is a “Code of Bank’s Commitment to Micro and Small Enterprise” to provide a confident drive to the MSE sector by providing easy access to competent and suitable banking services; advance our understanding of MSE’s business through active communication; boost market forces, through rivalry, to accomplish higher operating standards; and to ensure timely and rapid response to your banking needs.

How to apply online for Axis Bank Business Loan?

One of the simplest and fresh ways to apply for a business loan on the online platform is Finance Buddha, a one-stop solution provider for all business investment necessities is Finance Buddha. Here are the details essential for knowing more about your request:
• Borrower name
• Entity Name
• Year of Incorporation /VAT/Service Tax
• Loan amount
• Turnover (For the year 2014-15 & 2015-16)
• Net profit after tax (For the year 2014-15 & 2015-16)
• Depreciation (For the year 2014-15 & 2015-16)
• Director/Partner Salary (Not Applicable For Proprietorship Firm) (For the year 2014-15 & 2015-16)
• Choose the city
• Mobile number
• Email ID
Just fill up these required details and click on Apply button and that is it. Once we receive your application we will take it from there onwards until you get the loan disbursed in your account.

 

Axis Bank Business Loan Eligibility Criteria

Subject to the income profile, following are the eligibility criteria for this product:
• Salaried Individuals
o Any person who is in permanent service in a reputed company or government
o The applicant should be more than 24 years of age at the time of loan origination and up to the age of credit retirement
• Professionals:
o Professionals (i.e., doctors, dentists, architects, engineers, chartered accountants, company secretary, cost accountants, and management consultants only) can apply
o The applicant should be more than 24 years of age at the time of loan origination and up to 65 years or less at the phase of loan maturity
• Self-employed Individuals:
o Any person filing Income Tax returns can apply
o The applicant in all the cases should be more than 24 years of age at the time of loan commencing and up to 65 years or less at the phase of loan maturity

Axis Bank Business Loan Interest Rates, Fees & Charges

The below table will give an overview of the rates and charges by Axis Bank. This will help you to check if your business needs can be met through a business loan from this bank.

Nature of Fee

Cash Credit

Overdraft

Card Power

Secured Term Loan

Unsecured Business Loan

Processing Fees

Up to 1.25% + ST

Up to 1.25% + ST

Up to 1.00% + ST

Up to 1.25% + ST

Up to 2.00% + ST

Login Processing Fee

₹ 5000/- + ST

₹ 5000/- + ST

NA

₹ 5000/- + ST

NA

Stamp Duty & other Statutory Document Charges

As per applicable laws of state

As per applicable laws of state

As per applicable laws of state

As per applicable laws of state

As per applicable laws of state

ROC Filing Charges

₹ 1200/- + ST

₹ 1200/- + ST

₹ 1200/- + ST

₹ 1200/- + ST

NA

Non Submission of Stock Statement

2% + ST of the outstanding amount from the date of default

NA

NA

NA

NA

Non Submission of Property / Stock Insurance

2% Additional rate of interest on the amount outstanding

2% Additional rate of interest on the amount outstanding

NA

2% Additional rate of interest on the amount outstanding

NA

Cheque Book Issuance Charge

First 100 leaves free (for new loan account) and thereafter  ₹ 2/- per leaf

First 100 leaves free (for new loan account) and thereafter  ₹ 2/- per leaf

First 100 leaves free (for new loan account) and thereafter ₹ 2/- per leaf

NA

NA

Cheque Bounce

₹ 500/- per instance +ST

₹ 500/- per instance +ST

₹ 500/- per instance +ST

₹ 500/- per instance +ST

₹ 500/- per instance +ST

Penal Interest

2.00% p.a. additional on existing Rate of Interest

2.00% p.a. additional on existing Rate of interest

2.00% p.a. additional on existing Rate of interest

2.00% p.a. additional on existing Rate of interest

2.00% p.m. on the amount of overdue instalment

No dues Certificate/ No Objection Certificate

₹ 150 + Service Tax

₹ 150 + Service Tax

₹ 150 + Service Tax

₹ 150 + Service Tax

₹ 150 + Service Tax

CERSAI Charges

₹ 100/- + ST

₹ 100/- + ST

₹ 100/- + ST

₹ 100/- + ST

NA

*Service Tax as applicable will be levied. Above charges are subject to changes as per Banks discretion from time to time.

Documents Required for Axis Bank Business Loan

SME Fast Track Documents Required

  1. Entity Profile
  2. Financials of the entity for the latest two years
  3. Profile of the group concerns
  4. Bank statements of the entity for the last 12 months
  5. Copy of title deeds of the assets with Municipal Tax Receipts and Sanction Plan
  6. Office Proof of the entity
  7. Copies of all lease and sublease agreements in connection with the property
  8. MOA and AOA in case of Company or Partnership Deed in case of partnership firm
  9. Bank statements of the directors or partners for the last six months
  10. Latest two years ITRs of the directors or partners and Personal Balance Sheets
  11. Residential Proof of all the directors or partners
  12. Identity proof of all the directors or partners

Axis Bank Loan against Property Documents Required

  1. Proof of Identity
  • Salaried Applicants: Voter's ID card or driving license or PAN card or photo credit card or employee's ID card, or defense or police or government department ID card
  • Other Applicants: Voter's ID card or driving license or PAN card or photo credit card
  1. Proof of Income
  • Salaried Applicants: Latest salary slip showing all deductions or Form 16 along with recent salary certificate
  • Other Applicants: IT Returns for the last two years and computation of income for the last two years certified by a CA
  1. Proof of Residence
  • Salaried Applicants: Bank account statement or latest credit card statement or latest electricity bill or telephone or mobile bill or latest LIC policy or insurance premium receipt or employers message certifying the current mailing address or latest NSC or another similar type of instruments indicating the address or current house lease agreement.
  • Other Applicants: Bank account statement or latest credit card statement or latest electricity bill or telephone or mobile bill or latest LIC policy or insurance premium receipt or latest NSC or another similar type of instruments indicating the address.
  1. Bank statement or passbook where salary or income is credited
  • Salaried Applicants: Last six months 
  • Other Applicants: Last six months
  1. Guarantor Form
  • Salaried Applicants: Optional
  • Other Applicants: Optional
  1. Lease Agreement
  • Salaried Applicants: Copy of rental agreement required for all lease rental discounting cases.
  • Other Applicants: Copy of rental agreement necessary for all lease rental discounting cases.
Frequently Asked Questions

What is the turnaround time for decisions a Loan against Property application?

Axis Bank will deliver its decision within 30 working days from the date of receiving of the application provided the request is complete in all respects. The calculation of 30 days shall start from the day on which the Customer delivers all documents essential for a proper appraisal of the application to the bank.

What are the minimum and maximum amounts of Loan against Assets that I can get?

At Axis Bank, you can get a Loan against Assets from Rs. 2 lakhs to Rs. 500 lakhs. Some of the factors we study when deciding a loan amount are: • Your requirement and eligibility • The property’s registration • The property’s market value • Your income and repayment capacity

I am an NRI. Can I get a Loan against Property?

Yes! Axis Bank offers LAPs for waged NRI customers.

ReviewsView All

Prasanna Ashok

5 / 5

I was searching for a business loan actively when I came across Finance Buddha. From here I applied for Axis Business Loan. Service was satisfactory and minimal paperwork was required. Executives were assigned to help me throughout the process. Overall happy with it.
Sachin R.

5 / 5

I choose Axis Bank Business Loan and applied for it through Finance Buddha. Everything went well and my loan was disbursed within 15 days.
Padmaja

4 / 5

Finance Buddha executives helped me a lot in completing the documentation process regarding my business loan with Axis bank. They were very soft spoken and helpful. But even after that the competition process took more time. I got my loan approved in 10 days. So I am not very happy with the service. I will give 4 stars to Axis bank.
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