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- Axis Bank is now on WhatsApp !
  Send us a 'Hi' on 7036165000 for all your banking needs
  SIGN-UP
Support
- Personal
  Login Register
  Digital Banking Consent
  Visit
  neo for corporates New
  Login
  IBU GIFT city retail
  Login
  IBU GIFT city corporate
  Login
- Explore 250+ banking services on Axis Mobile App
  Scan to Download
  Click to download Axis Mobile App open
  Click to explore Axis Mobile App open
  Digital Banking Consent
  Visit
- Paypro
- Multi-Currency Forex Card
  Credit Card Login
  Prepaid Cards
  Transit Cards
- Remit Money
  Register
- EDGE REWARDS
- Retail
  Corporate

OPEN DIGITAL A/C

Simplified Merchant Lending Solution to grow your business

Axis Bank offers an attractive product proposition for merchants wherein you can get Instant Merchant Cash Advance Loan with zero collateral and avail Digital Current Account for small merchants. The Instant Merchant Cash Advance Loan can be sanctioned with just a few clicks.

MCA loan details
Our Journey
Eligibility Criteria
Additional Info
Lending Service Provider

MCA Loan Details

Loan Amount	₹1 lakh to ₹20 lakhs for both Resident Individual and Sole Proprietor, basis sourcing partner/channel and eligibility
Loan Tenure	12 to 36 months for both Resident Individual and Sole Proprietor
Interest Rate	18% to 24% for both Resident Individual and Sole Proprietor on reducing balance
Processing Fees	Upto 2% of loan amount + GST as applicable
Age	21 to 65 years of age (at the time of applying loan) for Resident Individual and Sole Proprietor

Our Journey

KYC validation along with the collection of personal and business details.
Loan eligibility assessment through Net Banking / Statement Upload / Account Aggregator.
Instant loan sanction
Bureau +Bank statement based eligibility
VCIP (Video Customer Identification Process).
- Upon submitting your profile details, you will be directed to the Video KYC Page wherein an Axis Bank official will initiate a video call for KYC. Please note that you will need to be at your shop address and confirm your availability for this call. Also, kindly enable video /microphone access for your device.
  During the Video Call, you will be asked a few questions to verify your identity and business information. For this you’ll need to show your shop from inside as well as outside during the VCIP process.
- Additionally, the bank’s personnel will capture a live photo (Screenshot) of you as well as your PAN Card (You will need to hold up your PAN card to the camera for the same)
Digital account opening

Eligibility

Self-employed Individuals and Sole Proprietorship
KYC documents (Aadhar + PAN)
Bureau score norms as per Axis Bank credit underwriting policy terms
Bank statement upload via Account Aggregator, Net Banking, PDF upload
Business Proof - For Sole Proprietorship (Existing to Bank customers)
- GST Certificate
For Self-employed Individual (any one document to be furnished)
- Gumasta License / Shop and Establishment Acts Certificate
- GST Certificate
- Utility Bill with the shop name

Scroll To Top

Additional Information

All merchants with active relation with partner can apply for Axis Merchant Cash Advance propostion

Helpline number call centre 1860-419-5555 / 1860-500-5555
Toll Free number for Current Account - 1800-419-5959
Online Privacy Policy By Axis Bank

Freecharge Business and Technology Services Limited
Redressal Officer Details

Schedule of Charges**

Lending Service Provider: Freecharge Business and Technology Services Limited

About FreechargeBIZ:

Freecharge Business and Technology Services Limited is a wholly owned subsidiary of the Axis Bank Ltd. which is engaged as an Lending Service Provider (LSP) helping merchants get merchant loans, manage daily payments, and gain valuable business insights.

Role of FreechargeBIZ in MCA Product:

Freecharge Payment Technologies Private Limited onboards Merchants on its platform and provides them Freecharge Payment Services which enable merchants to accept payment through various payment instruments. For providing add- on or value-added services to merchants, Freecharge Business and Technology Services Limited (FreechargeBIZ) has partnered with Axis Bank Ltd to provide merchants with Merchant Cash advance facility extended by Axis Bank. For the MCA, FreechargeBIZ acts as Loan Service Provider (LSP) for the Bank by generating leads and redirects interested merchants onto the Axis platform to complete the formalities for availing the Merchant Cash Advance (MCA) Loan. Freecharge Business and Technology Services Limited will act as a Technical Service Provider (TSP) in the EDI (Easy Daily Instalments) settlement process and collection recovery agent for overdue loan repayment which is in line with RBI guidelines.

Website - www.freechargebiz.in

FreechargeBIZ	https://merchant.freechargebiz.in/
Sourcing Partner/LSP/DLA	Freecharge Business and Technology Services Limited
Partner Details	https://merchant.freechargebiz.in/
Digital lending app	Freecharge Business and Technology Services Limited
Link to Digital Lending App	https://play.google.com/store/apps/details?id=com.freecharge.business
Product Type	Business Loan
Product Details	Merchant Case Advance Business Loan with Flexible Repayment - Equated Daily Installments / Equated Monthly Installments
Loan Tenure	12 to 36 months for both Resident Individual and Sole Proprietor
Loan Amount	₹1 lakh to ₹10 lakhs for both Resident Individual and Sole Proprietor, basis eligibility.
Interest Rate	18% to 24% for both Resident Individual and Sole Proprietor on reducing balance.
Customer care and Partner Grievance Redressal Officer	https://merchant.freechargebiz.in/lending-privacy-policy
FC Privacy Policy Link	https://merchant.freechargebiz.in/lending-privacy-policy

Merchant Cash Advance services

For Queries or Complaints

Banking Ombudsman for solutions

Complaint Management System.

RBI - Integrated Ombudsman Scheme, 2021

Notice regarding use of unacceptable language

Resolution timeframe of complaints is governed as per the Bank's Grievance Redressal Policy

guidelines followed by Axis Bank while handling customer complaints.

TAT for requests.

Roles and responsibilities of the PNO

RBI Sachet Portal

APR Calculator

Frequently Asked Questions

Axis Bank Merchant Cash Advance is a new-age Digital Loan and Current Account (as applicable) offered by Axis Bank for Retail Individual (New to Bank and Existing to Bank) and Sole Proprietor customers (Existing to Bank).

Merchant Cash Advance is a one-stop solution for merchants, catering to their financial needs which are key drivers to business expansion and working capital requirements.

To open this account, all you need is your Aadhaar number, original PAN card, bank statement along with other basic details. Since this process is completed through a video verification, kindly ensure you are using a camera-enabled device.

You can apply for Merchant Cash Advance if you fulfil the following criterion:

1. You are an Indian citizen and are applying from India.
2. You have a valid PAN and Aadhaar details, digital copy of latest bank statement.
3. You have a valid mobile number linked to your Aadhaar number and bank record.
4. You are 21 to 65 years of age (at the time of applying loan) for Resident Individual and Sole Proprietor.
5. Your mobile device with which you are opening an account has a camera to complete the Video KYC process.
6. For individuals, PAN & Aadhar are linked.
7. For Sole Proprietor entity, Pan and GST should be linked
8. You have a pucca / proper shop set-up.

Here's why Axis MCA is the right fit for your business financing requirements:

1. Digital account opening process.
2. Quick sanction, no security, collateral-free and paperless loan.
3. Upfront Stamp Duty and Processing Fees.
4. Equated daily installments (EDI) is collected from your Axis Bank Current Account and any shortfall in equated daily installments (EDIs) will be recovered as EMI via Standing Instructions (SI) or e-NACH registered on the primary bank account of the borrower - Axis Bank or non-Axis Bank respectively.
5. Merchant curated Axis Bank Current Account - avail all of our 250+ services online.
6. Competitive interest rate computed on reducing balance.

1. Loan type: Term loan with no collateral or guarantee required.

2. Loan Sanction: ₹1 lakh to ₹20 lakhs for both Resident Individual and Sole Proprietor, basis sourcing partner/channel and eligibility.

3. Tenure: 12 to 36 months for both Resident Individual and Sole Proprietor.

4. Documents required: Original PAN, aadhaar details, business registration document and minimum 12 months latest bank statement.

5. Instant sanction based on bank statement assessment.

6. Flexible repayment: Equated Daily installments (EDI) and / or EMI via eNach mechanism.

You can submit your latest bank statement using any of the below modes:

1. Account aggregator
2. PDF statement upload
3. Via Net Banking

Your equated daily installment (EDI) amount will be shown on the Loan Sanction Schedule of Charges screen.

Equated daily installment (EDI) = EMI/25 Days (Subject to number of days until EMI due date is >=25)

To keep recovery flexible, we shall recover the EMI due for a cycle in 25 days* through equated daily installments (EDI)

*Assuming we receive equated daily installments (EDI) amount from Axis Bank Current Account & number of days until EMI due date is >=25. If the number of days until EMI due date is <25 (that may happen during month of onboarding), the equated daily installments (EDI) amount will be adjusted accordingly for that month alone.

Benefits of equated daily installments (EDI):

1. Equated daily installments (EDI) contributes towards loan repayment.
2. Auto recovery implies fewer worries about missing out on EMI dues.
3. Repay in small amounts on a daily basis - easy on the pocket as no lump sum payment is to be made for EMI.

Below are the EMI due dates depending upon the loan account opening date.
Skipping or missing EMIs does not reflect well on your credit worthiness and could impact your credit score. Hence, borrow and repay wisely, within your means, in the interest of your financial well-being.

Loan Account Opening Date	EMI Due Date
5th to 19th of current month	5th of the next month
20th of current month to 4th of next month	20th of next month

We have curated a special repayment solution for MCA:

1. Automated small deductions from your sales proceeds on a daily basis.
2. In case of shortfall in recovery via equated daily installments (EDI), automated recovery will be done from your primary bank account on EMI due date via e-NACH/SI.

Yes, you can click on this link and make the payment for overdues if any, towards your MCA loan account by QR scan option from any of your Bharat BillPay enabled Apps such as GooglePay.

https://billpay.setu.co/landing/1259154496722830584

You can visit your nearest Small Business Banking (SBB) Loan Center and share the name and Customer ID details for loan related support.

You may also log in to your Axis Bank Mobile Banking / Internet Banking to view MCA Loan Statement of Accounts and other details like overdue amount, outstanding balance etc.

1. Product Details Link: Merchant Cash Advance

2. Online Privacy Policy Link: Online Privacy Policy

3. Support / Lodge Compliant Link: Axis Support

4. Disclaimer Link: Discliamer

5. CA related details Link: Digital Cuurent Account FAQs

Site best viewed in Google Chrome v79+, Microsoft Edge v80+, Mozilla Firefox v85+, Apple Safari v12.1+ at 1024 X 768 pixels resolution

Please do not believe any entity using Axis Bank logos & branding to request the public for money in exchange for opening a Customer Service Point.

Always use the customer care numbers displayed on Bank’s official website. Do not access unknown website links.

RBI: Beware of Fictitious Offers/Lottery Winnings/Cheap Fund Offers.

Report a Fraud

Axis Bank is registered with DICGC

https://www.dicgc.org.in

Zero collateral loan

Zero physical documents

Flexible repayment - Equated daily installments and monthly installments

No hidden charges

Instant loan sanction

Digital account opening.

Simplified Merchant Lending Solution to grow your business

Our Journey

Eligibility

Schedule of Charges**

For Queries or Complaints

Banking Ombudsman for solutions

Complaint Management System.

RBI - Integrated Ombudsman Scheme, 2021

Notice regarding use of unacceptable language

Resolution timeframe of complaints is governed as per the Bank's Grievance Redressal Policy

guidelines followed by Axis Bank while handling customer complaints.

TAT for requests.

Roles and responsibilities of the PNO

RBI Sachet Portal

APR Calculator

Frequently Asked Questions

1. What is Axis Bank Merchant Cash Advance?

2. What is the eligibility to apply for Merchant Cash Advance? and Current Account?

3. Why is Axis Bank Merchant Cash Advance Product the right fit for your business?

4. What is the product construct of an Instant Loan being offered?

5. How do I furnish my bank statement?

6. What is Equated Daily installments (EDI) and how is it computed?

7. What are the benefits of Equated Daily installments (EDI)?

8. What will be the EMI due date for the loan? What happens if EMI repayment is skipped?

9. What are the available repayment options for Axis Bank MCA loan?

10. Can I pay MCA loan overdue amount through Bharat BillPay?

11. How to get support on post loan disbursal requirements?

12. Important links to refer:

Get In Touch

PNO / NODAL Desk

Shareholder's Corner

Media Center

Downloads

Other Links

Stamp Duty charges	As per Stamp Duty Act
Foreclosure charges	< 12 months - 4% of principle outstanding at the time of pre-payment (+ GST) > 12-24 months - 3% of principle outstanding at the time of prepayment (+ GST) > 24 months - 2% of principle outstanding at the time of prepayment (+ GST) In case of Micro and Small Enterprises (MSE) customers, no Prepayment charges are applicable if loan amount is up to Rs.50 Lakhs under fixed rate loans. Notice for pre-payment: Notice period of 30 Business days
Processing Fee charges	Upto 2% of loan amount + GST as applicable
Penal Charges	Financial Charges: 8% p.a. above applicable interest rate on the overdue amount (subject to the aggregate not exceeding Rs.1,00,000/- per instance) Non-Financial Charges: 1% p.a. from the date of each non-financial default on the outstanding amount of fund-based credit facilities.
ECS/NACH/e-NACH return charges	₹250/- per instance of dishonor + GST as applicable
Duplicate statement issuance charges	₹100/- per instance per set + GST as applicable.

Zero collateral loan

Zero physical documents

Flexible repayment - Equated daily installments and monthly installments

No hidden charges

Instant loan sanction

Digital account opening.

Simplified Merchant Lending Solution to grow your business

Our Journey

This account comes with a host of unique features:

Eligibility

Schedule of Charges**

1. What is Axis Bank Merchant Cash Advance?

2. What is the eligibility to apply for Merchant Cash Advance? and Current Account?

3. Why is Axis Bank Merchant Cash Advance Product the right fit for your business?

4. What is the product construct of an Instant Loan being offered?

5. How do I furnish my bank statement?

6. What is Equated Daily installments (EDI) and how is it computed?

7. What are the benefits of Equated Daily installments (EDI)?

8. What will be the EMI due date for the loan? What happens if EMI repayment is skipped?

9. What are the available repayment options for Axis Bank MCA loan?

10. Can I pay MCA loan overdue amount through Bharat BillPay?

11. How to get support on post loan disbursal requirements?

12. Important links to refer:

PNO / NODAL Desk

Downloads