To access the old website
Click Here
Explore 250+ banking
services on Axis Mobile App
Scan to Download
- Current Account
- Pay
- Collect
- Trade
Services
Solution for Exporters
- Debt & Working Capital
24x7 Loans
For MSMEs with turnover up to ₹30 Cr
- Treasury
- Transact Digitally
- Home
- Business Banking
- Small Business Banking
- Merchant finance
- Merchant Finance For GST Based Overdraft
Merchant Finance For GST Based Overdraft
Support your cash flows and ongoing working capital expenses with ready source of funding by availing Axis Bank’s GST based Overdraft facility for MSME customers. This long term Business Loan is provided basis GST returns. Residential/commercial/industrial property can be offered as security. Interest on these products is charged only on the utilised amount.
Features & Benefits
This account comes with a host of unique features:
- Loan amount can be availed for minimum ₹10 lakhs up to ₹150 lakhs.
- Facility renewal at the end of 12 months from the date of availing this facility.
- Interest charged on utilised amount.
This account comes with a host of unique features:
- Zero Monthly Average balance Requirement
- Extended benefits in cash deposits, withdrawal, chequebook, NEFT and RTGS
- Nil Monthly Service charge
- Classic , Supreme and Platinum options available for debit card. Click here
Commercials
| Loan processing charges | It is up to 1.25% + applicable taxes. |
|---|---|
| Part pre-payment charges | N/A. |
| Foreclosure Charges | It is 2.00% of the sanctioned limit. |
| Penal interest | It is 2.00% p.a. in addition to the existing rate of interest. |
| Repayment Instruction / Instrument Return Charges | ₹500 per instance + applicable taxes |
Eligibility
Business Vintage
- Minimum 3 years in current profession
Business Income
- As per ITR, it should not be loss making in last 1 year (1 year ITR & Computation of Income required)
Age
- Minimum 21 years at the time of loan application
- Maximum 70 years at the end of loan tenure
Residence / Office Stability
- Borrower should own either the office or residential property
- Residence stability should be of at least 12 months
- Office stability should be of at least 24 months.
Documentation
- KYC Documents
- Duly filled in application form signed by the customer
- Relevant financial documents
- Bank account statement of last 6 months
- PAN Card/Form 60
- Business Proof
- Last 12 months GST Returns
Frequently Asked Questions
GST based OD facility is designed for self- employed segments like individuals, proprietorship firms, partnership firms, LLP, private limited companies and unlisted public companies.
We offer competitive interest rates for our loan facilities. The interest for each loan is determined based on assessment of your business profile, past track record, financial records, loan amount required and tenure of loan.
Interest is charged only on the amount utilised and not on the entire sanctioned limit.
No, we do not have any annual review charges. But for every OD/CC renewals processing fees is levied.
No, It’s a regular Overdraft facility, renewable every 12 months.
