Axis Bank MUDRA Loan: Features, Eligibility, Interest Rates & Application Process

The Pradhan Mantri MUDRA Yojana (PMMY), launched by the Government of India in April 2015, aims to provide financial support to micro and small enterprises in the non-farm sector. Axis Bank offers MUDRA loans under this scheme to help businesses meet their working capital and expansion needs.

Categories of Axis Bank MUDRA Loans

MUDRA loans are categorized based on the funding requirements and growth stage of the business:

• Shishu: Loans up to ₹50,000
• Kishore: ₹50,001 to ₹5,00,000
• Tarun: ₹5,00,001 to ₹10,00,000

The maximum loan amount available under PMMY is ₹10 lakh. These categories reflect the business growth stage and financial needs of the borrower.

Nature of Credit Facility

• Collateral-free loans with no need for security
• Available as fund-based facilities like term loans, overdrafts, and cash credit
• Also available as non-fund-based facilities like bank guarantees and letters of credit

Axis Bank MUDRA Loan Features

• Loan amount ranges from ₹10,000 to ₹10 lakh
• Interest rates depend on business profile, credit history, and loan tenure
• No collateral required for loan approval
• Flexible credit options including overdraft and cash credit
• Available for micro and small businesses in non-farm sectors
• Both online and offline application options available

Eligibility Criteria of Axis Bank MUDRA Loan

• Applicant must be a micro or small business owner
• Business should be engaged in income-generating activities
• Applicable to trade, manufacturing, service, and allied agricultural sectors
• Maximum loan limit up to ₹10 lakh

Axis Bank MUDRA Loan Interest Rates

Axis Bank has not publicly disclosed fixed interest rates for MUDRA loans. The applicable rate depends on the applicant’s profile, loan amount, and tenure.

Note: For exact interest rates, it is recommended to contact the nearest Axis Bank branch.

Documents Required for Axis Bank e-MUDRA Loan

• Identity proof (Aadhaar, PAN, Passport, Driving License, Voter ID)
• Address proof (utility bills, Aadhaar, passport, property tax receipt)
• Recent passport-size photographs
• Business proof and registration documents
• Udyog Aadhaar / Udyam Registration
• Last 6 months bank statements
• Financial statements for last 2 years (if applicable)
• Income tax or sales tax returns (for loans above ₹2 lakh)
• Project report and business plan
• Proforma invoices or cost estimates (if applicable)
• Asset and liability statement of borrower
• Partnership deed or company incorporation documents (if applicable)

How to Apply for Axis Bank e-MUDRA Loan

• Visit the official Axis Bank MUDRA loan webpage
• Click on “Start a Relationship”
• Select “Small Business Banking Application Form”
• Download and fill out the application form (PDF)
• Submit the form and contact an Axis Bank representative

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