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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

Loan Amount ₹50 thousand to ₹3 lakhs for Resident Individual and ₹2 lakhs to ₹10 lakhs for Sole Proprietor, basis eligibility.
Loan Tenure 12 to 24 months for Resident Individual and 12 to 36 months for Sole Proprietor.
Interest Rate 24% for Resident Individual and 18% to 20% for Sole Poprietor on reducing balance respectively.
Processing Fees Upto 2% of loan amount + GST as applicable
Age21 to 63 years of age (at the time of applying loan) for Resident Individual and 21 to 65 years of age (at the time of applying loan) for 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

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
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