Axis Bank Business Loan Details

Rate of InterestStarting at 9% p.a.
Loan amountRs. 50,000 – Rs. 50 Lakhs
Repayment tenure12 - 36 months
Processing feeUp to 2% + applicable taxes
Foreclosure charges 2% - 4% + GST
Age21 - 65 years  
Minimum turnoverRs. 30 Lakhs

Types of Axis Bank Business Loans

Axis Bank has various categories for Small Business Loans, Corporate Loans, and SME Loans. The features of each loan are mentioned below.

Business Loans to Doctors, Engineers and Chartered Accountants

Business loan to engineers is given to take the business to the next level, business loan to doctors is given for the purchase of medical equipment or to renovate clinic premises, and business loan to chartered accountants is given to scale up their practice.

  • Loan amount: Up to Rs. 50 Lakhs.
  • Collateral: No collateral security required.
  • Tenure: Up to 36 months.

MSE Power (For Manufacturing MSEs)

MSE Power is designed especially for Micro and Small Manufacturing Enterprise (MSE) for all fund based and non-fund based working capital and term loan requirements.

  • Loan amount: Rs. 10 Lakhs to Rs. 5 Crores.
  • Collateral: Up to 100% collateral coverage is stipulated.

Services Power (For Service and Trading MSEs)

This loan can be utilised for all fund based and non-fund based working capital and term loan requirements of service and trading MSE owners.

  • Loan amount: Ranges from Rs. 10 Lakhs to Rs. 5 Crores.
  • Collateral: Up to 100% collateral coverage is stipulated.

SME Power

The purpose of this loan is similar to MSE Power and Services Power.

  • Loan amount: Ranges from Rs. 10 Lakhs to Rs. 5 Crores.
  • Collateral: Up to 125% collateral coverage is stipulated.

Business MPower Overdraft

It is basically a loan against immovable property to meet general business requirements.

  • Loan amount: Ranges from Rs. 10 Lakhs to Rs. 5 Crores.
  • Collateral: Security of commercial/residential and industrial property.

Business MPower Term Loan

This loan provides a term loan facility required to take business the to the next level.

  • Loan amount: Ranges from Rs. 10 Lakhs to Rs. 5 Crores.
  • Tenure: Up to 7 years.
  • Collateral: Security of residential/commercial and industrial property.

Power Rent

It is a term loan facility against the lease/rent receivables.

  • Loan amount: Ranges from Rs. 5 Lakhs to Rs. 20 Crores.
  • Repayment: Through lease/rental receipts.
  • Tenure: Up to 10 years.

LCBN Power

This loan provides short term liquidity by discounting bills backed by a letter of credit issued by any bank.

  • Loan amount Ranges from Rs. 5 Lakhs to Rs. 5 Crores.
  • Bill discounting: Up to 180 days.
  • Collateral: No collateral security stipulated

Zero Collateral Loan

It is a loan without collateral to facilitate MSME sector borrowers to avail both working capital and term loan facilities. New and existing Micro and Small Enterprises are eligible to avail the loan.

  • Loan amount: Ranges from Rs. 5 Lakhs to Rs. 1 Crore.
  • Collateral: This facility is secured by CGTSME guarantee cover.

Business Loan for Property

Offers a convenient way to acquire office space for business

  • Loan amount: Ranges from Rs. 5 Lakhs to Rs. 5 Crores.
  • Tenure: Up to 10 years.

Business Power

It offers working capital facilities to current account customers based on the dealings in the current account.

  • Loan amount: Ranges from Rs. 10 Lakhs to Rs. 2 Crores.
  • Collateral: The extent of collateral security depends on the track record of the current account.

Export Finance

  • This loan facility is mainly for companies involved in exports.
  • This is offered either as pre-shipment credit or post-shipment credit of international trade.
  • It is designed to suit the financial demands of the company to spread its business overseas.
  • It will either be extended in local currency or in the currency of a particular country.
  • In this scheme, the quality of debtors is given more weightage than the creditworthiness and economy of a particular country.

Project Finance

This financing, as the name suggests, is project based. It could be long-term infrastructure or industrial projects.

  • Finance is based on the projected cash flow of the company.
  • Start-ups generally require additional capital if the project is an ambitious one.

Construction Finance

This loan is for construction projects when there is not enough cash flow till the handover stage. There will be a constant requirement of finance during the progress of the project.

  • Since there is a good scope for real estate industry Axis Bank has designed long term loan schemes.
  • The loan comes with a flexible repayment tenure of up to 5 years.

Features of Axis Bank Business Loan

  • Purpose of loan: To meet all fund working capital and other business requirements, including cash credit, rupee export credit, inland bill discounting, letter of credit, bank guarantee, export credit in foreign currency, and term loans.
  • Loans available for: Doctors or medical practitioners, engineers, and chartered accountants to scale up their practice.
  • Quantum of loan: Quantum of loan ranges from Rs. 50,000 to Rs. 50 Lakhs for Small Business Loans.
  • Repayment: Flexible repayment of minimum 1 year to maximum up to 3 years.
  • Collateral security: Not required

Why Choose Axis Bank Business Loan?

Business Loans offered by Axis Bank are known for the following benefits:

  • Quick and hassle-free processing.
  • Simplified and minimal documentation.
  • High loan amount and flexible tenure.
  • Balance transfer facility available.
  • Affordable processing fee and other charges.
  • No hidden charges.
  • No collateral required.

Axis Bank Business Loan EMI Calculation

You can calculate the EMI of your proposed Axis Bank Business Loan using MyMoneyMantra's EMI Calculator. To begin with, visit MyMoneyMantra, select the Business Loan EMI Calculator under the Financial Tools, and fill in the required loan parameters, viz. loan amount, tenure, and interest rate.

Here is an example:

  • Loan amount to be availed: Rs. 15 Lakhs
  • Applicable interest rate: 9% p.a.
  • Tenure chosen: 3 years

In this case, your monthly EMI would be Rs. 47,700, the total interest cost would be Rs. 2,17,186 and the total amount to be paid to the bank would be Rs. 17,17,186 (principal + interest).

Here is the complete amortization schedule for the above example:

YearOpening BalancePrincipal during the yearInterest during the yearAmount Paid (EMI*12)Closing Balance
1st₹  15,00,000₹ 4,55,897₹ 1,16,499₹ 5,72,395₹ 10,44,103
2nd₹ 10,44,103₹ 4,98,663₹ 73,732₹ 5,72,395₹ 5,45,441
3rd₹ 5,45,441₹ 5,45,441₹ 26,954₹ 5,72,395₹ 0

How to Decide the Right EMI Amount with Business Loan EMI Calculator?

Business Loan EMI Calculator is a tool to arrive at the EMI (equated monthly instalment) one has to pay on a certain amount. By using the EMI calculator and on trying various combinations, one can decide the loan amount to avail. While deciding the EMI, one should consider how fast one wants to repay the loan, how much one can afford towards EMI and what is the interest rate one is comfortable with. In the case of project finance and construction finance, one should have the estimates of the project ready and should always anticipate 20% to 25% enhancement in the project cost on completion and plan the loan amount accordingly.

  • Decide the amount to loan. 
  • Calculate the Business Loan eligibility.
  • Review all the present responsibilities.

Axis Bank Business Loan Documents Required

  • Duly filled & signed application form for business loan.
  • KYC documents
  •  2 recent photographs of the applicant in passport size.
  • Bank statement of last 6 months.
  • Relevant financial documents.
  • PAN Card or Form 60
  • Proof of business

Axis Bank Business Loan Eligibility

The guidelines set by Axis Bank to assess the eligibility for business loans are as follows:

  • Individual (with business registration), partnership, proprietorship firm, limited liability partnership, Pvt. Ltd. companies, unlisted public Ltd. companies, and trust & societies (for educational institutes/ hospitals) can apply.
  • Minimum business vintage of 3 years.
  • Minimum turnover of Rs. 30 Lakhs.
  • Minimum age should be 21 years at the time of loan application.
  • Maximum age should be 65 years at the end of loan tenure.
  •  Applicant must own either office or residential property.
  • In case of rented accommodation, the minimum residence stability should be 12 months (not applicable if applicant is shifted to owned house).
  • Minimum office stability should be 24 months.
  • Minimum income requirement is Rs. 2.5 Lakhs as per ITR for last 2 years for self-employed individuals.
  • Minimum cash profit should be Rs 3 Lakhs for last 2 years for non-individuals.

Axis Bank Business Loan Charges

Availing the Business Loan from Axis Bank involves the following charges apart from interest rate:

Type of ChargeDescription
Processing feesUp to 2% + applicable taxes
Login non-refundable processing feeUp to Rs. 5,000 + taxes
Renewal processing feeUp to 1% + taxes.
Stamp duty & other statutory document chargesAs per applicable law of the state
Charges for ROC filingUp to Rs. 1,200 + applicable taxes
Non-submission of stock statementUp to 2% of the outstanding loan amount from the default date + applicable taxes.
Non-submission of property or stock insuranceUp to 2% additional interest rate on the outstanding amount.
Cheque bounceRs. Up to 500 per instance + applicable taxes
Penal interest2% p.a.
No dues certificate or no objection certificate chargesRs. 50 + applicable taxes
CERSAI chargesUp to Rs. 100 + applicable taxes
Part pre-payment chargesUp to 2% + GST on amount prepaid
Foreclosure Charges2% to 4% of the principal outstanding + GST

How to Apply for Axis Bank Business Loan?

  • Open our website and go to the Business Loan page, then click on the Compare & Apply.
  • Enter the details as required to complete the application.
  • Click on Let’s Go.
  • Enter the profession details and other information as required.
  •  Accept the terms & conditions and then click on Next.
  • Enter the OTP received on your number.
  • Compare all the options displayed on your screen.
  • Select Axis Bank as your lending partner and click on Apply Now button.
  • Note down your Application Number for future reference.
  • Our representative will get in touch with you soon.

Axis Bank Business Loan Interest Rates

Axis bank business loan interest rates are as below:

  • Floating rate (linked to repo rate): 9% to 17.50% p.a.
  • Fixed rate loans: 14.25% to 18.50% p.a.
  • Loan with tenure above 36 months: 14.25% to 18.50% p.a.

Axis Bank Business Loan Customer Care

You can contact on the below-mentioned numbers to speak to the Axis Bank representatives:

1800-419-5959 OR 1800-419-6969

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Who can avail Axis Bank Business Loans?


Sole Proprietorship Firms, Partnership Firms, Private Limited Companies, Unlisted Public Limited Companies, Professionals like doctors, engineers, chartered accountants, and so on can avail Axis Bank Business Loans.

What are the eligibility criteria for Axis bank business loan?


Eligibility of Axis bank business loan depend on many factors.

  • The applicant's age must be between 21 years to 65 years.
  •  Business must have been in continuity for at least 3 years.
  • Turnover must be in a range from Rs. 30 Lakhs to Rs. 10 Crores.
  • Salaried individuals/Independent professionals (Chartered Accountants, Engineers, and Doctors)/ self-employed individuals are eligible to apply for a business loan.

What are the special benefits of business loans offered by the Axis Bank?


Axis Bank offers special benefits on business loans to its customers. No collateral security is required to avail a business loan, Business loans can be extended up to Rs. 50 Lakhs, offered at a competitive pricing structure, Simplified Access and Minimal Documentation required.

What are the documents required for Axis Business Loan?


You need to submit the KYC documents (Voter's Identity Card, Driving License, Passport, Aadhaar Card, PAN Card), last 2 years ITR (Income Tax Return), PAN Card/ Form 60 for all applicant/ Co-applicant/ Guarantor, and audit report.

Can I get an Axis bank business loan with a 700 credit score?


Yes, you can get a business loan easily if you are having a credit score of 700, but it depends on other factors stable business, income etc.

What is the rate of interest for Axis Bank business loan?


Axis Bank offers a competitive interest rate starting from 9% on its business loan. The interest rate will be decided according to the type of loan chosen, assessment of your business profile, past track record, financial assessment, loan amount and tenure.

What is the loan tenure offered for Axis Bank Business Loans?


The maximum tenure is between 36 months. Tenure may change for different business loan schemes.

What are the various funding options under SME Secured loan?


Fresh loans against unencumbered property/ties to be used for business purposes, balance transfer and top-up loans against existing encumbered properties, and purchase of commercial property.

What kinds of properties are accepted as collaterals for SME Secured loan?


Residential, commercial, and industrial properties will be accepted as collaterals for SME Secured Loan.

What is the quantum of loan available?


Loan quantum ranges from Rs. 50,000 to Rs. 50 Lakhs for Small Business and for Corporate Loans, and from Rs. 5 Lakhs to Rs. 20 Crores for SME Loans.

How much time does the bank take to convey its decision on my loan application?


Axis Bank typically conveys its decision within 2 weeks for credit limit of up to Rs. 5 Lakhs and 3 weeks for credit limit above Rs. 5 Lakhs and up to Rs. 25 Lakhs (for micro & small enterprises borrowers), and 30 working days (for other borrowers) from the date of receiving the application.

For what purposes the loan will be granted?

  • Finance will be provided to meet all fund based and non-fund based working capital and term loan requirements including cash credit/rupee export credit/inland bill discounting/letter of credit/bank guarantee/Export credit in foreign currency and term loans.
  • The loan is sanctioned to engineers to take their business to the next level.
  • Loan sanctioned to doctors for purchase of medical equipment and for the renovation of clinic premises.
  • Loan to chartered accountants to help them scale up their business.