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Secured Quick Term Loans

Banking Solutions for MSMEs

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Long Term Secured Quick Term Loan

Support your long term commercial loan for purchase of machinery/ Residential or commercial property or any other long term business finance requirement by availing Axis Bank’s Secured Quick Term Loan facility. Loan is provided to MSME customers based on Banking Conduct. Residential/Commercial/Industrial property can be offered as security.

  • Loan amount can be availed from minimum of Rs. 10.01 Lakhs up to Rs. 2 Crores.
  • Loan can be availed for a minimum tenure of 12 months up to 15 years
  • Funding against the residential, commercial, industrial property, godown, fixed deposits, liquid collat-erals, etc.
  • Flexible repayment options
Business Vintage
  • Minimum 4 years in current profession
Business Income
  • As per ITR, borrower should not have incurred loss in the last 1 year (1 year ITR and Computation of Income required)
Age
  • Minimum 21 years at the time of loan application
  • Maximum 70 years at the end of loan tenure
Residence / Office Stability
  • Borrower should own either the of-fice or residential property
  • Residence stability should be of at least 12 months
  • Office stability should be of at least 24 months
Documents
  • 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
Loan Processing Charges

Up to 1.25% + applicable taxes

Part Pre-payment Charges

1.00% of principal outstanding

Foreclosure Charges

2.00% of principal outstanding

Penal Interest

2.00% p.a. additional on existing rate of interest

Repayment Instruction / Instrument Return Charges

Rs. 500/- per instance + applicable taxes

Q. Which constitutions are eligible for Secured Quick Term Loan?

A. We offer Secured Quick Term Loan to resident individuals (with business registration), proprietorship firms, partnership firms, LLP, pvt. ltd. companies and unlisted public companies.

Q. What is the repayment structure of the loan?

A. Repayment shall be in monthly installments, including principal and interest.

Q. What are the acceptable collaterals against this loan?

A. Residential property, commercial property, industrial property, etc.

Q. What is the rate of interest offered under this product?

A. 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.

Q. Is it mandatory to have Udyam registration certificate?

A. To avail benefit of MSME as per Government regulations, MSME registration is mandatory for borrowers.