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- Unsecured Business Loans for Self Employed Non Professionals
Unsecured Business Loan for Self Employed Non Professionals
Collateral-free loans are exclusively designed for MSME customers, including manufacturers, traders, wholesalers, retailers, and service providers, with minimal documentation. This programme caters to their urgent financial needs, helps scale up business operations, and provides opportunities for expansion.
Features & Benefits
This account comes with a host of unique features:
- Collateral-free, i.e., no property security, no hypothecation
- Loan amount starts with a minimum of ₹3 lakhs and goes up to ₹75 lakhs.
- Higher loan tenure of 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 | It is up to 2% + applicable taxes. |
|---|---|
| Part pre-payment charges | It is 2% + GST on the amount prepaid |
| Foreclosure Charges |
|
| Penal interest | It is 2.00% p.a. on overdue instalments. |
| Repayment instruction/instrument return charges | It is ₹399 per instance + applicable taxes. |
Business vintage
- Minimum 3 years
Business turnover
- Minimum ₹30 lakhs for the latest financial year
Age
- Minimum 21 years at the time of loan application.
- Maximum 65 years at the end of loan tenure.
Minimum income
- ITR income of ₹2.50 lakhs for each of the last 2 years.
Residence/office Stability
- Either office or residential property must be owned.
- KYC
- Last 2 years Balance sheet
- Last 2 years Profit & Loss statement
- Last 2 years of ITR filed
- Last 1 year banking statement
Frequently Asked Questions
Business Loan can be availed by the following:
- Individual firms, proprietorship firms, partnership firms, limited liability partnership firms, private limited companies, unlisted public companies, trusts and society (except charitable trusts).
You can apply for a Business Loan online at https://smedigital.axisbank.co.in/sbbcj/ 2 easy steps and grow your business easily.
- Register on the link with your mobile number, PAN card details & e-mail ID.
- Click on register and proceed to apply for Business Loan online.
You pay the loan in equal monthly instalments (EMIs). The loan will be paid through post-dated cheques. You can also pay through an electronic clearing system (ECS) or a standing instruction.
You can choose to repay your loan any time after 6 months, along with applicable foreclosure charges as per Axis Bank's 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.
