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Business Loan
If you're a self-employed manufacturer, retailer, trader, or professional, you understand the dual challenges of managing day-to-day operations while seeking growth opportunities. For the self-employed, having readily available funds is crucial. Meeting the expanding needs of your business doesn't come easily to you. This is where our role becomes vital. Axis Bank now presents unsecured, EMI-based business loans for the self-employed with minimal documentation required. Whether you utilise the loan for its full term or opt for early closure, we aim to address your immediate funding needs while ensuring your business has the resources to thrive. The loan application process is online, offering the convenience of repayment through manageable instalments.
Business Loan EMI Calculator
A Business Loan is an easy way to grow your business and increase your revenue. Use the Business Loan Calculator to know how much your EMI will be.
Total Amount Payable
1,37,621
Disclaimer: These calculators are provided for representational purposes only. Results depend on many factors, including the assumptions you provide. We do not guarantee their accuracy, or applicability to circumstances. All loans are at the sole discretion of Axis Bank Ltd.
Note: To see amortization schedule, please click here.
Features & Benefits
Collateral-Free
Axis Bank Business Loans are collateral-free. You can get up to ₹75 lakhs as a loan without providing any collateral or asset as security.
Flexible Loan Tenure: 6 to 60 Months
The business loan can be availed for a minimum of 6 to 60 months. You can repay in EMIs, without undue financial burden. Choose the tenure to suit your budget and repay at your convenience.
Easy to Apply
You can apply at the nearest branch or online to get the loan sanctioned in quick easy steps. The documentation is minimal, keeping in need the busy schedules of a busy professional. Get quick approval if you meet all the eligibility criteria as follows:
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Easy to apply
You can apply at the nearest branch or online to get the loan sanctioned in quick easy steps. The documentation is minimal, keeping in need the busy schedules of a busy professional. Get quick approval if you meet all the eligibility criteria as follows:
Easy to apply
You can apply at the nearest branch or online to get the loan sanctioned in quick easy steps. The documentation is minimal, keeping in need the busy schedules of a busy professional.
Business loan eligibility
Business loan documents required
Following documents are required when applying for business loan:
Government loan for small businesses
Enjoy the benefits of The Pradhan Mantri Mudra Yojana (PMMY), for small and micro enterprises loans in the non-farm sector.
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Your Credit Score matters
Know and improve your credit score to better plan for your future finances.
Know moreDo's and Don’ts about Business Loan
Do’s
Don’ts
Things to know about Business Loan
- Assess seasonal cash flow impacts
Consider how your business's seasonal fluctuations could affect your ability to make loan repayments, and plan accordingly. - Prepare for site visits or audits
Be ready for the possibility that lenders may want to visit your business or audit your financials to assess risk before approving a loan.
- Factor in economic conditions
Consider the current economic climate, as interest rates and loan terms can vary based on market conditions, potentially affecting your repayment ability.
Tips to keep in mind for a Business Loan
Frequently Asked Questions
Refurbish your premises
A well-maintained office premises is the pride of any business owner After all, this is where you meet your clients and customers. For upgrading your office premises, buying new furniture, replacing old laptops and servers, and so on, a Business Loan is the best option.
Ensuring steady cash flow
As a business owner, there could be occasions when you find yourself cash-strapped. An unexpected breakdown of your machines, or payments to be made to vendors, etc. A Business Loan can easily help you tide over these temporary hiccups. Borrow the funds you need and ensure your business runs smoothly.
Expand your business
Expanding your business and taking it to the next level is any business owner's dream. You need money to make more money. Invest in your business by availing of a Business Loan and watch your profits grow.
Build inventory
A successful business owner always anticipates his customers' needs and ensures he never runs out of stock. Building inventory could prove a strain on your finances. But with a Business Loan, you will always have funds ready at hand. Whether it is purchasing raw material or paying vendors, ensure your operations are not interrupted due to lack of funds with a Business Loan.
With a Business Loan EMI calculator, you can find out the total repayment over the tenure of the loan. The amortization schedule of the calculator provides a detailed break-up of the monthly and annual principal and interest components of the loan. Knowing this before getting the loan sanctioned will help you plan your finances and structure your repayment with ease. This way you can earmark the required funds for repaying the loan and avoid stress on your finances.
Following documents are required when applying for Business Loan:
- 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
- You can download the application form from the Axis Bank website www.axisbank.com and submit it at the bank branch.
- You can also visit the nearest branch and fill the application form at the branch
- You can instantly "Apply Now" for business loan
- Individual (with business registration)
- Proprietorship Firm
- Partnership
- Limited Liability Partnership
- Pvt ltd Companies
- Unlisted Public Ltd. Companies
- Trust & Societies (for educational institutes / Hospitals)
We offer competitive Interest rates for our loan facilities. The interest will be determined based on assessment of your business profile, financial assessment, past track record, loan amount and tenure.
No, Axis Bank financing requires that your business be under current ownership of at least 3 years
Any pre-payment/excess amount paid by you to the Bank; shall be appropriated in the Loan account basis the below criteria/methodology in the absence of any specific instructions from you:
- Excess amount greater than (>) EMI: If service request (SR) for part payment is not created/received within 2 days of receipt of funds, the excess funds will be adjusted towards principal outstanding as part payment.
- Excess amount equal to (=) EMI: If service request (SR) / instructions for part payment is not created/received on same day of receipt of funds, excess amount will be refunded to your operative account.
- Excess amount less than (<) EMI: Excess amount will be kept unappropriated in the Loan account for 15 days. Post 15 days, the excess funds shall be adjusted towards principal outstanding as a part payment.
- Excess amount equal to (=) or greater than (>) foreclosure / pre-closure amount : In case no instructions are placed by you at the Loan Centre / Phone Banking within 3 working days from the date of credit in Loan account and:
- Excess amount is equivalent (=) to the foreclosure amount, Loan account will be proactively closed by the Bank.
- Excess amount is greater than (>) the foreclosure amount, adjustment in Loan account would be as follows:
- If excess amount is up to ₹20,000, Loan account would be closed by the Bank and after closure, excess funds would be credited to the Loan repayment account.
- If excess amount is greater than ₹20,000, the Bank will connect with you telephonically for verification of payment. Alternatively, you may connect with the Bank on 18604195555 to confirm the credit adjustment in your Loan account.
- Excess amount greater than (>) EMI: If service request (SR) for part payment is not created/received within 2 days of receipt of funds, the excess funds will be adjusted towards principal outstanding as part payment.
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