Apply for Business Loan Starting From 16% p.a. 
Axis Bank Business Loan – Highlights – October 2022 | |
| Interest Rate | 14.65% – 18.90% p.a. |
| Collateral/Security | Not required |
| Loan Amount | Rs. 50,000 – Rs. 50 lakh |
| Repayment Tenure | 1 – 5 years |
| Processing Fee | 2% of the sanctioned loan amount |
Note: With effect from 18th August 2022, Axis Bank 1 year MCLR is 8.05%. Interest Rates are updated as on October 2022.
Apply for Business Loan @ 16% p.a. onwards Apply Now
Business Loan Interest Rates – October 2022
Loan with Tenure up to 3 years
| Loan Type | Interest Rate (p.a.) |
| Business Loan – SEP | 14.65% – 16.25% |
| Business Loan – SENP | 17.40% – 18.90% |
| Merchant Loan TL | 18% |
Loan with Tenure more than 3 years
| Loan Type | Interest Rate (p.a.) |
| Business Loan – SEP | 14.65% – 16.25% |
| Business Loan – SENP | 17.40% – 18.90% |
| Merchant Loan TL | 18% |
MSME Samriddhi Loan
Axis Bank offers MSME Samriddhi Loans to meet working capital requirements and short and long-term business needs of MSMEs, as well as manufacturers, traders, wholesalers, retailers, service providers and other business entities.
| Axis Bank – MSME Samriddhi Loan – Highlights | |
| Eligible Entities | Proprietorship, Partnership, Pvt. Ltd Companies, Limited Companies & Limited Liability |
| Interest Rate | Linked with Repo Rate (Ceiling up to 18% p.a.) |
| Loan Amount | Rs 10.01 lakh – Rs. 5 crore |
| Credit Facilities | Term loans, Overdraft, Cash credit, Demand Loans, Bank guarantee, Letter of Credit and Bill Purchase. |
| Collateral/Security | Registered or Equitable Mortgage of NA Residential, Commercial and Industrial Properties, FD & LIC Policy |
Eligibility Criteria
- Applicant’s Age: Min. 18 years & Max. 75 years
- Business Vintage: Minimum 3 years with cash accumulations for the last 2 years
- Entities having CA Certified / Audited Balance Sheets (ABS)
Best Working Capital Loan offers are just a click away Apply Now
Comparison of Business Loan Interest Rates offered by Top Banks/NBFCs – October 2022
| Bank/NBFCs | Interest Rate | |
| HDFC Bank | 10.00% – 22.50% p.a. | Apply Now |
| FlexiLoans | 1% per month onwards | Apply Now |
| ZipLoan | 1% – 1.5% per month (Flat ROI) | |
| Axis Bank | 14.25% – 18.50% p.a. | Apply Now |
| IDFC First Bank | 14.50% onwards | |
| Kotak Mahindra Bank | 16% – 19.99% | Apply Now |
| Fullerton Finance | 17% – 21% | |
| Bajaj Finserv | 17% p.a. onwards | Apply Now |
| RBL Bank | 17.50% – 25% p.a. | Apply Now |
| ICICI Bank | 17% onwards | |
| Indifi Finance | 1.5% per month onwards | Apply Now |
| Lendingkart Finance | 1.5% – 2% per month | Apply Now |
| Tata Capital Finance | 19% p.a. onwards | Apply Now |
| NeoGrowth Finance | 19% – 24% p.a. | Apply Now |
| Hero FinCorp | Up to 26% p.a. | Apply Now |
Note: Business loan interest rates are updated as on October 2022.
Fees & Charges
Below mentioned are the fees and charges levied by Axis Bank on availing Business Loans:
| Axis Bank Business Loan – Fees and Charges | |
| Nature of Fees/Charges | Fees & Charges |
| Foreclosure Charges* | Post repayment of 1st EMI: · Up to 24 months – 4% of principle outstanding at the time of prepayment · 25-36 months – 3% of principle outstanding at the time of prepayment · More than 36 months – 2% of principle outstanding at the time of prepayment |
| Part-payment Charges | 2% charge plus GST will be levied on the amount prepaid |
| Penal Interest | 2% p.m. on the amount of overdue installment |
| Cheque Bounce Charges | Rs. 339 per instance + taxes |
| Stamp Duty | As per applicable law of the State |
| Duplicate No Due Certificate/NOC | Rs. 50 + applicable taxes |
*GST shall be levied extra by Axis Bank on the mentioned fees and charges.
Eligibility Criteria
- Age: Minimum 21 years and Maximum 65 years
- Business Vintage: Minimum 3 years
- Minimum Annual Turnover: Rs. 30 lakhs
Residence/Office Stability:
- Office or residential property should be owned – Either of one
- Residence stability: At least 12 months, in case of rented accommodation (Not applicable, if shifted to the owned house)
- At least 24 months of Office stability
Minimum Income:
- For Individuals: Minimum Rs. 2.5 lakhs, as per ITR for the last 2 years
- For Non-individuals: Minimum cash profit should be Rs 3 lakhs for the last 2 years
The interest rate offered by Axis Bank shall be determined on various factors that include your financial stability, business profile, repayment history, past track record, loan amount, and repayment tenure.
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Steps to Check the Status of Business Loan Application
Checking your loan application status with Axis Bank is simple and quick.
Step 1: To check the loan application status, click here: https://www.axisbiconnect.co.in/axisbankloanstatusenquiry/web/retail/getloanaccountnumber.aspx
Step 2: Enter the details like Application ID and Date of Birth
Step 3: Enter the above-mentioned Captcha and Click on ‘Enquiry’
Step 4: You shall get the loan application status in the above box, instantly
Documents Required
- KYC Documents of the applicant
- Business Address and Vintage Proofs
- Relevant financial documents – Audited
- Bank account statement for last 6 months
- Business PAN card/Form 60
- Any other document required by Axis Bank.