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- Unsecured Business Loans for Self Employed
Unsecured Business Loan For Self Employed
Collateral-free Business Loans specially designed for practicing and consulting doctors as well as other professionals including CA, CS, ICWA, engineers and architects. This programme is specifically designed for MSME (micro, small and medium enterprises) customers and self-employed professionals to cater to multipurpose business needs. This includes funding financial obligations and enhancing practice to expand your business.
Features & Benefits
This account comes with a host of unique features:
- Collateral free i.e. no property security, no hypothecation
- Loan amount can be availed for minimum ₹3 lakhs up to ₹75 lakhs
- Higher loan tenure up to 36 months
- Flexible repayment options available
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 | Up to 2% + applicable taxes |
|---|---|
| Part Pre-payment Charges | 2% + GST on amount prepaid |
| Foreclosure Charges |
|
| Penal Interest | 2.00% p.a. on the amount on overdue installments |
| Repayment Instruction / Instrument Return Charges | ₹399/- per instance + applicable taxes. |
Eligibility & Documentation
Business Vintage
- Minimum 3 years
Business Turnover
- Minimum ₹30 lakhs in the latest year
Age
- Minimum 21 years at the time of loan application
- Maximum 65 years at the end of loan tenure
Minimum Income
- ITR income ₹2.50 lakhs for 2 years each
Residence / Office Stability
- Either office or residential property is to be owned.
- KYC
- Latest 2 years Balance sheet
- Latest 2 years Profit & Loss statement
- Latest 2 years of ITR filed
- Last 1 year banking statement
Frequently Asked Questions
Business Loan can be availed of by following constitutions, viz. individual firms, proprietorship firms, partnership firms, limited liability partnership firms, private limited companies, unlisted public companies, trusts and society (except charitable trusts).
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 card details & e-mail ID.
- Click on register and proceed to apply for a Business Loan online.
You pay the loan in equal monthly installments (EMIs). The loan will be paid through post-dated cheques. You can also pay through Electronic Clearing System (ECS) or a standing instruction.
Yes, you can choose to repay your loan any time after 6 months along with applicable foreclosure charges as per bank guidelines.
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.
