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Axis Bank Business loan can help you raise capital for expanding a business and starting a new company. With My Mudra’s hassle-free application process, you can get a business loan, and the funds will be credited to your account once your business loan is approved.
Axis Bank Business Loan Eligibility Criteria
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Salaried Individuals |
Self-Employed Individuals |
Business / Company |
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Entitled Borrowers |
Government / Semi government / PSU / Private/MNCs/ Proprietorship/Partnership businesses |
Proprietor / Partners / Directors |
Partnership or Private Limited firms engaged in Manufacturing, Servicing, or Trading |
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Self Employed Professionals such as Chartered Accountants, Company Secretary & Doctors |
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Age |
The person should be 21 years old at the time of loan application and his maximum age should be 65 years |
Applicant must be a minimum of 21 years of age at the time of application and should be a maximum of 65 years at loan maturity. |
Proprietor / Key Partner / Main Director must be a minimum of 25 years at the time of loan application and should be a maximum of 65 years at loan maturity. |
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Income |
The net monthly salary should be Rs.20,000 |
Gross annual income should be of minimum Rs.2.5 lakh |
Annual turnover should be a minimum of Rs.30 lakh |
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Net monthly salary should be Rs.25,000 (if residents of the metro city) |
Gross annual income should be of minimum Rs.3 lakh |
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Experience / Vintage |
Minimum 2 years of work experience |
Minimum 3 years in current business/profession |
Minimum 3 years in current business/profession |
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CIBIL score |
Should have a minimum CIBIL score of at least 750. |
Should have a minimum CIBIL score of at least 750. |
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Work History |
No defaults in the previous 24 months. |
No defaults in the previous 24 months. |
Business stability/history of minimum 3 years in the same business. |
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Residence / Office Stability |
Either office or residential property should be owned.
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Either office or residential property should be owned.
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Either office or residential property should be owned.
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In the case of rented accommodation, residence stability should be of at least 12 months, not applicable if shifted to the owned house.
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In the case of rented accommodation, residence stability should be of at least 12 months, not applicable if shifted to the owned house.
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In the case of rented accommodation, residence stability should be of at least 12 months, not applicable if shifted to the owned house.
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Office stability should be for at least 24 months. |
Office stability should be for at least 24 months. |
Office stability should be for at least 24 months. |
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Citizenship |
Individuals with Indian citizenship |
Individuals with Indian citizenship |
Proprietor / Partners / Directors with Indian citizenship |
Documents Required To Avail Axis Bank Business Loan
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Salaried Individuals |
Self-Employed Individuals |
Firm / Company |
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Identity Documents |
Aadhaar Card, Driving License
PAN Card / Form 60 |
Aadhaar Card, Driving License
PAN Card / Form 60 |
· Firm/Company PAN Card, GST Registration Certificate (If applicable), and Other Applicable Registration
· KYC of Partners / Directors PAN Card and Aadhaar Card · PAN Card / Form 60 |
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Job Card issued by NREGA duly signed by an officer of the State Government |
Job Card issued by NREGA duly signed by an officer of the State Government |
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Income Proof |
· Last month’s pay slip · Recent bank statement
· Form 16 |
· Income Tax Returns along with computation for the latest 2 years · Profit/Loss statement and balance sheet for the latest 2 years |
· Income Tax Returns along with computation for the latest 2 years
· Profit/Loss statement and balance sheet for the latest 2 years · GST Returns
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Bank Account Statement |
Salary credit bank account statement of latest 3 months |
Operative bank account statement of the latest 6 months |
Operative bank account statement of the latest 6 months |
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Property document |
If already finalized along with legal & technical clearance of the property |
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Once your loan has been approved, it will be credited to your registered bank account immediately.
Follow these tips to improve your Axis Bank Business Loan Eligibility –
Maintain a good repayment history by paying off your existing loans and liabilities on time without defaulting
Try to build a CIBIL score above 750
Apply for a loan that fits your needs, raising multiple loan applications can decrease your credit worthiness
Opt for a longer repayment tenure that will allow you to disburse the overall due amount over a longer time span. This will also help in reducing the EMI amount.
A co-borrower (a spouse, or parent) with a good income and credit score will boost your eligibility for a bigger loan amount.
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Folks, they are very quick with their services. I actually didn't know there were so many conditions for getting a loan. My documents weren't proper as well. They really helped me pick up my profile. Also, they give you helpful suggestions regarding which banks should I opt for.
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The service provided by My Mudra is great, everything is seamless and very convenient. Its one of the very best experiences, I’ve had with any loan provider.
I was in dire need of funds for a medical emergency. Due to my low CIBIL score, I didn’t much get support from other lenders. This is when I submitted a personal loan application on My Mudra. Fortunately, I got the amount, and that too at lower interest rates. Thanks to My Mudra. The entire application was very smooth.
I have had a wonderful experience with My Mudra. The process was exceptionally seamless when I applied for a loan. I also liked how their people interacted with me. It is the best solution to the month-end cash issue. Also, I can use it to pay off my credit card dues.
To realize my business plans, I decided to take My Mudra Business loan and my decision was perfectly alright. It assured me of fast money and the entire process was transparent. No surprise loan charges helped me plan my working capital and manage my business activities efficiently.
I was in need of INR 2 lakh. I visited the My Mudra website and found out that there is a personal loan offer for me. It was a great experience. I got an awesome deal on my loan application. The process involved only a few documents. The amount transferred to my account was faster than promised and the interest rate and other charges were also not too high
I wanted quick fund disbursal and one of my friends suggested me to apply for a personal loan from My Mudra. He had a great experience. I agree with him. The application and approval process were smooth. They offer fast money transfers to my bank. I was asked to choose the repayment period. I am happy with the services. Their agents are also polite and helpful.
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