Axis Bank offers business loans starting at an interest rate of 10.75% per annum for amounts up to Rs 10 crore. You can repay the loan over a period of up to 15 years. Additionally, Axis Bank provides services like letter of credit and bills of exchange.
Axis Bank Business Loan Highlights |
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|---|---|
| Interest Rate | 10.75% p.a. onwards |
| Loan Amount | Up to Rs 10 crore |
| Repayment tenure | Up to 15 years |
*Terms and conditions apply.
| Table of Contents | ||
|---|---|---|
| Axis Bank Business Loan Interest Rates | ||
| Fees & Charges | ||
| Types of Axis Bank Business Loan | ||
| Eligibility Criteria | ||
| Documents Required | ||
| Product | Interest rate (p.a.) (floating) |
|---|---|
| Overdraft | 10.75% – 11.75% |
| Cash credit | 10.75% – 11.75% |
| Term loan | 10.75% – 11.75% |
| Unsecured OD | 12.10% – 16.10% |
| Quick OD | 19.50% – 20.50% |
| CGTMSE | 15% – 16.75% |
| Unsecured merchant loan | 18% – 19% |
| Overdraft against FD | 11.50% – 12.50% |
Also read: Best Business Loan Interest Rate
Here are the fees and charges associated with availing ICICI Bank Business Loans:
| Particulars | Concessions | |
|---|---|---|
| Processing Fees | 0.75% of the loan amount + GST | |
| Login fees | Rs 5,000 + taxes | |
| Foreclosure charges | 2% of sanctioned limit | |
| Penal interest | Additional 2% on the existing interest rate | |
| Cheque bounce charges | Rs 500 per instance + GST | |
| Prepayment/Foreclosure charges |
For cash credit/overdraft facility:
For term loan:
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| Account service charges (only performing assets) |
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| Penal interest |
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Also read: Best Business Loan EMI Calculator
Axis Bank MSME Samriddhi Lite
Purpose: Axis Bank MSME Samriddhi Lite is a simpler version of MSME Samriddhi Loans. It provides options like cash credit and overdraft facilities.
Loan Amount: Rs 10.1 lakh to Rs 35 lakh
Axis Bank MSME Samriddhi Loans
Purpose: Axis Bank MSME Samriddhi Loan helps micro, small, and medium enterprises with their working capital, non-fund based, and capital expenditure needs. Borrowers can choose from options like overdraft, term loan, working capital, and other facilities to meet their requirements.
Loan amount: Rs 10.1 lakh to Rs 5 crore
Collateral: Registered or Equitable Mortgage of Residential, Commercial and Industrial Properties, FD & LIC Policy
Axis Bank provides a range of customized loans for small and medium enterprises (SMEs) with turnovers of up to Rs 250 crore. Here are some of the loans offered under Axis Bank’s SME Commercial Banking Group:
Axis Bank SME Plus
Purpose: Axis Bank’s SME Plus is a customised program for all business units. Borrowers can pledge their residential, commercial and industrial property as collateral and use the loan proceedings to meet their capital expenditure and working capital requirements
Amount: Up to Rs 10 crore
Axis Bank Power OD
Purpose: Axis Bank Power OD is an overdraft facility designed for working capital needs. The limits offered through this program cannot be combined with any other program from the Commercial Banking Group.
Amount: Up to Rs 5 crore
Product Offerings: Overdraft Facility, Bank Guarantee & Letter of credit
Collateral: Residential, Commercial and Industrial property and Fixed Deposit
Axis Bank LCBN Power
Purpose: Borrowers can get a usance bill with a Letter of Credit. The limits from the Axis Bank LCBN Power program can be combined with any other program from the Commercial Banking Group, but the total limit can't exceed Rs. 10 Crore.
Amount: Up to Rs 5 crore
Axis Bank Zero Collateral Loans (CGTMSE)
Purpose: Borrowers can get Zero Collateral Loans from Axis Bank for trade, working capital, and term needs, helping them with their financial requirements for both day-to-day operations and long-term investments.
Amount: Up to Rs 2 crore
Axis Bank MPower
Purpose: Borrowers can avail Axis Bank's MPower program for various business needs, such as repairs, renovations, expansions, and addressing working capital shortages. They can also use the loan for purchasing property for business purposes or for owner/management occupancy. The program allows combining limits with other programs from the Commercial Banking Group, up to a total limit of Rs. 10 Crore.
Amount: Up to Rs 10 crore
Product Offerings: Loan Against Property, OD against Property, Dropline OD, Property Purchase
Collateral: Residential, Commercial and Industrial property acceptable
Here are the loan variants offered under Axis Bank's Small Business Banking facility for businesses with a turnover of up to Rs 30 crore:
Axis Bank Cash Credit and Overdraft
Purpose: Businesses can get Axis Bank Cash Credit and overdrafts by putting up their homes, shops, fixed deposits, or other valuable things as security. They can use the loan to help with their day-to-day expenses and ongoing operations.
Amount: Rs 10 lakh to Rs 10 crore
Tenure: Loan renewal at end of 12 months from the date of availing this facility
Axis Bank Secured Quick Overdraft
Purpose: Borrowers can get the Axis Bank Secured Quick Overdraft by using their residential, commercial, or industrial property as security. This helps them manage their cash flow and cover ongoing expenses for their business.
Amount: Rs 10 lakh to Rs 1.5 crore
Tenure: Renewal at the end of 12 months from the date of availing this facility
Axis Bank Merchant Loan Overdraft
Purpose: Axis Bank's Merchant Loan Overdraft is a hassle-free overdraft facility that doesn't require collateral. It's determined by the average monthly transactions made through Axis Bank terminals. Merchants can utilize this to grow their business and meet daily working capital requirements. Interest is only charged on the amount actually used.
Amount: Rs 5 lakh to Rs 50 lakh
Tenure:
Axis Bank Business Loan (Unsecured)
Purpose: Borrowers can access Axis Bank's unsecured business loan to meet various business needs such as expanding operations, upgrading technology, stocking inventory for seasonal demands, or managing cash flow requirements.
Amount: Rs 50,000 to Rs 75 lakh
Tenure: 1 year to 5 years
Axis Bank Unsecured Dropline Overdraft
Purpose: Axis Bank's Unsecured Dropline Overdraft is a facility created specifically for doctors and CA professionals. It doesn't require collateral and can be used to fulfill their immediate financial requirements.
Amount: Rs 5 lakh to Rs 50 lakh
Tenure: 2 years to 5 years
Axis Bank Medical Equipment Loan
Purpose: Axis Bank offers a Medical Equipment Loan specifically for doctors. They can use this loan to buy medical equipment and improve their practice. The loan can help them expand their business and upgrade their facilities. Plus, they have the option to delay payments for up to 6 months.
Amount: Rs 10 lakh to Rs 7.5 crore
Tenure: 1 year to 7 years
Axis Bank Industrial Equipment Loan
Purpose: Axis Bank's Industrial Equipment Loan is made for manufacturers. They can use this loan to buy industrial equipment and enhance their business. The loan supports business growth, and borrowers have the option to delay payments for up to 6 months if needed.
Amount: Rs 10 lakh to Rs 5 crore
Tenure: 1 year to 5 years
Axis Bank Secured Term Loan
Purpose: Borrowers can get Axis Bank's Secured Term Loan to buy machinery, property, or expand their business. They can use residential, commercial, or industrial property, as well as fixed deposits or other assets, as collateral for the loan.
Amount: Rs 5 lakh to Rs 10 crore
Tenure: 1 year to 15 years
To qualify for a business loan from Axis Bank, you must meet the following eligibility criteria:
To avail business loans under the Mudra Yojana, the eligibility criteria are as follows:
Also read: Best Business Loan Eligibility
When you apply for a business loan from Axis Bank, you will be required to furnish the below-given documents:
Also Read : Best Business Loan Documents Required
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