- 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
- Unsecured loans
- Unsecured business loan basis ITR
Unsecured Business Loan Basis ITR
Your ITR (income tax return) can now get you a Business Loan for business growth and expansion. This programme is designed for MSME (micro, small and medium enterprises) customers, self-employed professionals, and non-professional business owners, who can use it with minimal documentation and no collateral.
Feature & Benefits
- Loan amounts can be availed for a minimum of ₹3 lakhs and can go up to ₹15 lakhs.
- No security required
- Attractive interest rates
- Hassle free processing
Commercials
- Loan Processing Charges: Up to 2% + applicable taxes
- Part Pre-payment Charges: 2% + GST on amount prepaid
- Foreclosure Charges:
- Up to 24 months – 4% of principal outstanding + GST
- 25-36 months – 3% of principal outstanding + GST
- >36 months – 2% of principal outstanding + GST
- Penal Interest: 2.00% p.a. on the amount on overdue installments
- Repayment Instruction / Instrument Return Charges: Rs. 399/- per instance + applicable taxes
Eligibility & Documentation
Eligibility for Business Loan basis ITR
Business Vintage
- Minimum 3 years
Age
- Minimum 21 years at the time of loan application
- Maximum 65 years at the end of loan tenure
Minimum Income
- ₹3 lakhs for both years
Residence / Office Stability
- Either office or residential property is to be owned.
Business Profile
- Doctors, CA, CS, ICWA, Engineers, ICWA, Traders, Manufacturers, Retailers and Service providers
Documents for Business Loan basis ITR
- KYC
- Latest 2 years Balance sheet
- Latest 2 years Profit & Loss statement
- Latest 2 years of ITR filed
- Latest 6 months banking statement
Frequently Asked Questions
No. You can apply for a business loan online at https://smedigital.axisbank.co.in/sbbcj/ in 2 easy steps and grow your business with ease.
- Kindly register on the link with your mobile Number, PAN & Email ID
- Click on Register and proceed to apply Business Loan Online
Your eligibility for a loan is based on positive business turnover, banking statement and financial statements to avail of funding up to ₹15 lakhs.
Maximum tenure for loan based on ITR is 36 months.
We offer competitive interest rates on our loan facilities. The interest for each loan is determined based on the assessment of your business profile, past track record, financial records, loan amount required and tenure of loan.
Repayment shall be monthly, including principal and interest.
You can repay a business loan and its EMI through the following channels:
- At the branch
- ECS
- Net banking.
