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Cash Credit & Overdraft

Banking Solutions for MSMEs

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Support your working capital and ongoing operational expenses with ready source of MSME funding by availing Axis Bank’s cash credit and overdraft products. Residential/Commercial property, fixed deposits, liquid collateral, etc. can be offered as security. Interest on these products is charged only on the utilized amount.

  • Loan amount can be availed for minimum Rs.10 Lakh up to Rs. 5 Cr
  • Facility renewal at end of 12 months from the date of availing this facility
  • No commitment charges
Business Vintage
  • Minimum 3 years current profession
Turnover
  • Minimum 30 lakhs to Maximum of 30 crs
Age
  • Minimum 21 years at the time of loan application
  • Maximum 70 years at the end of loan tenure
Minimum Income
  • In case of individuals, minimum income to be of 2.5 lakhs as per ITR for last 2 years
  • In case of non-individuals, minimum cash profit should be Rs. 3 lakhs for last 2 years
Residence / Office Stability
  • Either office or residential property should be owned
  • In case of rented accommodation, residence stability should be of at least 12 months, not applicable if shifted to owned house
  • 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

NA

Foreclosure Charges

2.00% of sanction limit

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 are the constitutions eligible for Cash Credit and Overdraft?

A. We offer the Cash Credit and Overdraft facility to resident individuals (with business registration), proprietorship firms, partnership firms, LLP, pvt. ltd. companies and unlisted public companies.

Q. What is the interest rate for your loan facility?

A. We offer competitive interest rates for our loan facilities. The interest for each loan is deter-mined based on assessment of your business profile, past track record, financial records, loan amount required and tenure of loan.

Q. How does interest gets applicable on the limit given by bank?

A. Interest is charged only on the amount utilized and not on the entire sanctioned limit.

Q. Will there be any review charges post completion of 12 months of OD/CC facility?

A. No, we do not have any annual review charges. But for every OD/CC renewals processing fees is levied.

Q. As this is a secured loan, what are the types of collateral required against the loan?

A. Yes, Collateral is required against the facility as follows:

OD - Only property collateral is required.

CC - Primary security of stock and book debts required along with property collateral.