Axis Bank Business Loan: Eligibility Requirements | 2021


Axis Bank business loan is structured with keeping in mind the self-employed, proprietorship, partnership firms, companies, etc. You can avail of a business loan from Axis Bank and use it for broadening your existing business or starting up your new venture. 

 

Yet, to Apply for Business Loan from the lender, you will need to meet certain eligibility requirements which are stated below. Let’s plunge into the post ahead to figure them out! 

 

Axis Bank Business Loan Eligibility Criteria

If you are an Indian citizen and have your own business and residual income and the capability to pay back the loan then you can be eligible for Axis Bank Business Loan 2021. 


Besides, other parameters include the following: 

  • Eligible Entities  
  1. Self-employed Professional/Non-Professional 
  2. Unlisted Public Limited Company 
  3. Partnership Firm 
  4. Private Limited Company 
  5. Proprietorship company 
  6. Trust, Societies, and Section 25 Companies(mainly for hospitals or educational institutions) 
  7. LLP(Limited Liability Partnership Company) 

  • Age – You must be at least 21 years old and should not exceed 65 years. 
  • Business continuity – The business should have been well set up and should be up and be active for more than 3 years 
  • Turnover - The Company’s gross income should range from Rs. 30 lakhs to Rs. 10 crores p.a. 
  • Work experience – You must possess at least 2 years of experience in the current line of work if you are a self-employed individual. 
  • Monthly income – If you are a self-employed borrower then your monthly salary should be at least Rs. 25,000. 
  • Credit score – The approval on your loan application will be tough if your credit score is low. In some cases, even if your credit score is not satisfactory, but your business is doing quite appealing then your loan application might get sanctioned. 
  • Axis Bank Business Loan eligibility calculator – With the help of the business loan EMI calculator and business loan eligibility calculator at Afinoz.com you can calculate the quite approximate amount of your EMIs and your eligibility in accordance with your potential. 

Conclusion 

To conclude, Axis Bank business loan is a popular business finance product. Yet, one should only finalize when performing a certain product on multiple aspects such as Business Loan Interest Rate, repayment tenure, etc. 

 

Moreover, you can turn around Afinoz Instant Loan App to attain the lowest business loan interest rate with other appealing terms. 



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Location: India

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