Axis Bank Business Loan

Features and Benefits of Axis Bank Business Loan

• Availability of collateral free business loans.
• Minimal documentation and assessment.
• Flexible repayment tenure upto 60 months.
• Business loan upto 75 lakhs
• Loans are available for doctors, engineers, and CA for scaling their practises.
• Relaxed eligibility requirements to offer utmost customer convenience.
• Availability of Balance transfer
• Competitive interest rates

Axis Bank is ranked third among India’s largest private sector banks. SMEs, large ventures, agriculture as well as retail businesses are among the bank’s diverse customer base.

Axis Bank caters to self-employed individuals with collateral-free business loans with minimal documentation and easy repayment facilities. Axis Bank assists you in mitigating your expeditious liquidity requirements while maintaining your business appropriately funded to grow while you decide whether to utilise the amount for the complete duration or to pre-close it sooner. You can apply for the loan and get it online, then pay it back in handy instalments. 

• Axis Bank offers collateral free business loans
• Minimal Documentation 
• Flexible repayment tenure from 12 months to 60 months
• Loan amount starting from 50,000 upto 75 lakhs
• Availability of balance transfer

Axis Bank Business Loan Eligibility

Who is Eligible For Axis Bank Business Loan?

Axis Bank Business Loan Fees and Charges

Axis Bank Business Loan Interest Rates

Axis Bank offers competitive business loan interest rates. To determine applicable Axis Bank 

business loan interest rate get in touch with the bank executive through in-person visit or by calling on toll-free numbers. Based upon certain factors, such as credit score, financial stability, business stability, applicable, interest rates will be determined. 

The Interest rate will be accessed through

• Business profile
• Financial assessment
• Past business track record
• Applied loan amount
• Repayment tenure
• Credit history

Factors Affecting Axis Bank Business Loan Interest Rates

There are various factors that take hold on Axis Bank Business loan interest rates. To get approval for Axis Bank Business Loan with utmost ease, take the following factors into consideration.  

Nature of Business

Ventures with a positive as well as profiting nature get approval for business loans  with utmost ease at lower interest rates. At the same time,blacklisted ventures or businesses with negative reviews might have to pay a higher rate of interests. Either the loan application will be rejected or you will get approval at higher interest rates. 

CIBIL Score

CIBIL score or Credit score is said to be the key factor when it comes to loan approval and interest rates. The lenders scrutinise applicant’s credibility through their credit history and CIBIL score. A good credit rating allows banks to offer business loans at lower interest rates, whereas a bad rating will result in higher interest rates.

Business Stability and Experience

Businesses with better stability have more chances to get loan approval at lower interest rates. 

Axis Bank computes the offerable rate of interest for a business loan, through overall business experience. Individuals with reliable  business backgrounds together with a long-running venture usually get business loans at lower interest rates. Defaulted financial records will directly result in declined loan application.

Annual Turnover

The annual turnover of the venture is the foremost factor that affects the offered business loan interest rate. Venture with high turnover and good revenue makes you more credible which results in loan approvals at lower interest rates. On the other hand, ventures with  poor turnover might get approval but at higher interest rates resulting in higher EMI amounts.

Good Relationship

Having good relationships with bank executives somehow increases the chances of loan approval. Additionally, you get the opportunity to have conversion to get reasonable interest rates. Thus, it is recommended to maintain a good relationship with teg existing bank to increase your chances of loan approval at lower interest rates.

Repayment History

Repayment history generates effects on your overall credibility as well as credit score. So, always pay your debts and associated payments on time to eliminate negative remarks from your repayment history. Better the repayment history, more the credibility. This will positively affect your loan approval chances and accessibility to lower interest rates.

Documents Required for Axis Bank Business loan

How Does the EMI Calculation Works for Axis Bank Business Loans?

The loan applicants can easily compute the monthly instalment for the applied Axis Bank Business Loan through EMI calculator. Business Loan EMI Calculator is a handy tool which allows you to determine monthly instalment by substituting three values i.e. business loan amount, repayment tenure and rate of interest. 

For Instance:

Person A applied business loan of amount INR 15 Lakhs

Applicable business loan interest  rate: 9 percent per annum

Repayment tenure: 4 years

Substituting these values in EMI calculator, the resulting value INR 47,700. The total payable interest component will be INR 2,17,186. Overall repayment amount will be INR 17,17,186 (principal component + interest component).

Axis Bank Business Loan Customer Care Number