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For MSMEs with turnover up to ₹100Cr
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- Unsecured Business Loan Basis Banking Conduct
Unsecured Dropline Overdraft
Avail of Axis Bank’s collateral free MSME Dropline OD facility, tailor made for doctors and CA professionals to meet immediate working capital requirements. This facility offers the flexibility in repayment and interest is charged only on the amount utilized. The assigned Dropline Overdraft loan line functions like a normal overdraft facility in first year of loan tenure and drops every month in equal portion beginning second year for remaining tenure.
Features & Benefits
- Loan amount can be availed for minimum Rs. 3 Lakh up to Rs. 50 Lakh
- Loan can be availed for a minimum tenure of 24 months up to 60 months
- Collateral free
Features & Benefits
- Monthly Average Balance requirement - Rs. 25,000/-
- Monthly Cash Deposit limit - @ 8 times the Monthly Average Balance maintained up to maximum of 2 Cr/-
- Cheque Book, DD/PO, Alerts, Standing instructions & Certificate of Balance - Free
- Unlimited NEFT/RTGS transactions through all channels
- Unlimited Cash withdrawal within/outside the city
- Debit Card: Business Classic Debit Card
Commercials
| Loan processing charges | Part pre-payment charges | Foreclosure charges | Penal interest | Repayment instruction / instrument return charges | One-time AMC at the end of the first year |
|---|---|---|---|---|---|
| Up to 1% + applicable taxes | NA | NA | 2.00% p.a. additional on the existing rate of interest | ₹500 per instance + applicable taxes | ₹5,000 for a facility less than ₹10 lakhs ₹15,000 for a facility more than ₹10 lakhs |
Business vintage
- Minimum 2 years in current profession
Business income
- Minimum business income of ₹30 lakhs
Age
- Minimum 24 years at the time of loan application
- Maximum 70 years at the end of loan tenure
Residence / office stability
- Either office or residential property must be owned
- In case of rented accommodation, residence stability should be at least 12 months, not applicable if shifted to owned house
- Office stability should be at least 24 months
Minimum income
- In case of individuals, minimum income should be ₹2.5 lakhs as per ITR for the last 2 years
- In case of non-individuals, minimum cash profit should be ₹3 lakhs for the last 2 years
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
