Axis Bank provides loans to MFIs working for economic empowerment of micro-entrepreneurs and low-income earners. These financial services are offered to the MFIs in a sustainable, ethical and profitable manner. Axis Bank has microfinance partners in almost all the regions of the country with a special focus on MFIs in underserved areas.
Loans to MFIs
Axis Bank is actively involved in microfinance and extends financial assistance to Microfinance Institutions (MFIs). The Bank commenced lending to the microfinance sector in the year 2005. We extend credit facilities to MFIs working for economic empowerment of micro-entrepreneurs and low income earners by providing financial services in a sustainable, ethical and profitable manner. The Bank primarily extends term loans to established and well rated MFIs for further on-lending to their clients.
The Bank has microfinance partners in almost all the regions of the country with special focus on the underserved areas. The Bank plans to reach out and make a positive impact on the under-banked segments of the society by providing specially designed products and services through its partner MFIs in a commercially viable manner. This would lead to economic empowerment of the masses and bring them into the national mainstream.
Axis Bank provides microfinance, specially designed for economically active poor women, in the form of loans to JLGs, under the Axis SAHYOG scheme. Axis SAHYOG also provides loans to individuals to help expand their existing business or take up new livelihood activities.
The Bank started its retail microfinance operations through its branch network under flagship program Axis Sahyog in Feb, 2013.
The program aims to lend small ticket unsecured loans in the range of Rs 6k to 1lac to economically active women having annual household incomes up to Rs. 3,00,000 under the Joint Liability Group (JLG) model. JLG lending is a proven microfinance model wherein the social collateral or the peer pressure of the group members ensures healthy credit discipline. These loans help the women to expand their existing businesses or take up new livelihood activities.Bank also provides insurance to women clients and their spouse/blood relative to save them from financial stress in case of exigencies if customer opts. The program is presently operational across 24 States and Union Territories, PAN India.
| Loan Size | Rs. 6000 to Rs. 100000 |
| Products Offered | IGL- Income Generation Loan MTL- Mid Term Loan |
| Rate of Interest | Maxium interest rate – 23.75% Minimum interest rate – 22.75% *Interest rate linked with 1 year MCLR with no reset |
| Loan Tenure | 12 – 36 months |
| Collateral | Unsecured loans |
| Applicable charges | Processing fees is 1.49%, applicable GST, rounded down to nearest rupee to be charged to the customers for all the loans above Rs. 50,000/- No pre-payments or Foreclosure charges. |
| Insurance coverage | Customer and spouse/blood relative both covered against the loan amount if customer opts. Insurance premium to be borne by the customer. |
| Stamp Duty & other statutory document charges | As per applicable laws of state |
| Purpose of loan | Income generating activities and Social needs like housing, education, marriage, sanitation, etc. |
| Other Features | Customers have to form a Joint Liability Group to avail the loan. Each group member assumes the liability for the loans of all other members in the group. |
| Application form | Click here for Application form |
| Agreement | Click here for Agreement form |
| Customer redressal toll free no | 1800-419-5577 |
| Penal Charges | Nil |
| Channels | Axis Bank branches |
| Eligibility | Individuals those are eligible for Sahyog loans are
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| Fair Practice Code for Retail Microfinance | Click here for FPC |
| Rate of interest Disbursed | Click here for ROI |
Axis Bank provides loans to JLGs to fulfill their productive and emergent credit needs. Axis Bank also provides loans to JLGs (Joint Liability Groups) to create positive impact at the bottom of the pyramid, leading to their financial and social empowerment. Loans to individuals falling under these schemes are provided for their livelihood development.
For retail microfinance, we partner with NBFCs/private limited companies to provide affordable financial services to the underbanked/unbanked population at the bottom of the pyramid. These institutions work with this segment of society, and over the years, this model has proven its effectiveness in reaching them in a commercially viable manner.
Some organizations are working with us as Business Correspondents across various geographic regions and have been able to maintain a satisfactory portfolio size with limited losses.
| Loan Size | ₹6000 to ₹100000 | ||||||||||||
| Products Offered | IGL- Income Generation Loan MTL- Mid Term Loan | ||||||||||||
| Rate of Interest | Maximum interest rate – 25.25% Minimum interest rate – 24.25% *Interest rate linked with 1 year MCLR with no reset. | ||||||||||||
| Loan Tenure | 12 – 36 months | ||||||||||||
| Collateral | Unsecured (No collateral loan) | ||||||||||||
| Applicable charges | Processing fees is 1.49%, applicable GST, rounded down to nearest rupee to be charged to the customers for all the loans above Rs. 50,000/- No pre-payments or Foreclosure charges. | ||||||||||||
| Stamp Duty & other statutory document charges | As per applicable laws of state. | ||||||||||||
| Other Charges |
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| Insurance coverage | Customer and spouse/blood relative covered under the loan amount if customer opts. Insurance premium to be borne by the customer. | ||||||||||||
| Purpose of Loan | Income generating activities and social needs like housing, marriage, education, sanitation,etc. | ||||||||||||
| Other Features | Customers have to form a Joint Liability group to avail the loan. Each group member assumes the liability for the loans of all other members in the group | ||||||||||||
| Customer redressal toll free no | 1800-419-5577 | ||||||||||||
| Channels | Through empanelled business correspondents | ||||||||||||
| Eligibility | Annual household income up to ₹3,00,000 Age greater than 18 years and less than or equal to 60 years at the end of loan tenure. Other criteria applicable as laid down by RBI for Microfinance from time to time. | ||||||||||||
| Fair Practice Code for Retail Microfinance | Click here for FPC | ||||||||||||
| BC Application Form | Click here for Application Form | ||||||||||||
| Agreement for Retail Microfinance | Click here for Agreement Form | ||||||||||||
| Branch List | Click here for Branch List | ||||||||||||
| Rate of Interest Disbursed | Click here for ROI |
Samriddhi Loan is designed for existing group borrowers who have gradually increased their business/income and now in need of higher amount of loan. Samriddhi Loan is offered to borrowers at their individual capacity based on business viability and detailed credit assessment.
Product features of Samriddhi Loan
| Loan Size | ₹51,000 to ₹3,00,000 Cycle 1: Max ₹1.5 Lakh Cycle 2 : Max ₹2 Lakh Cycle 3 : Max ₹2.5 Lakh Cycle 4 and above : Max ₹3 Lakh |
| Products Offered | Samriddhi Loan |
| Rate of Interest | 25% per annum *ROI is linked with 1 Year MCLR with No Reset |
| Tenure | 18 to 36 months |
| Collateral | Unsecured loans |
| Applicable charges | Processing fees is 2%, applicable GST, rounded down to rupee 1. No pre-payments or Foreclosure charges. * No benefit is passed on to the borrowers in terms of premium or tenure reset in case of part-payment. |
| Insurance coverage | Customer and spouse/blood relative covered against the loan
amount if customer opts for it. Insurance premium to be borne by the customer |
| Purpose of loan | Business Expansion Loans for Income Generation Activities Agri -Allied loan (Term Loan) |
| Other Features | Customer with a minimum of 2 cycle vintage with Axis Bank Group loans or 1 cycle vintage with Axis Bank and 1 cycle vintage with other organization are eligible to apply for the Samriddhi loan |
| Application form | Click here |
| Agreement | Click here |
| Customer redressal toll free no | 1800-419-5577 |
| Penal Charges | NA |
| Stamp Duty & other statutory document charge | As per applicable laws of state. |
| Channels | All Axis Bank Branch Operational with Group loans |
| Eligibility | Existing Group borrower of Axis Bank Must have completed at least 2 cycles of Group loan Age- Min 24 Years and Max 57 Years at the time of application Should not have any active group loan on the date of application |
| Fair Practice Code for Retail MicroFinance | Click here for FPC |
| Branch List | Click here for Branch List |
| Rate of interest Disbursed | Click here for ROI |
The Self-Help Group (SHG) Loan is designed for well-established SHGs with a consistent track record of regular savings, internal lending, and stable income-generating activities. This loan provides enhanced credit support to help groups strengthen their livelihoods and expand their enterprises. The loan is sanctioned to the group collectively, based on their credit discipline, business viability, and a comprehensive group-level credit assessment.
Product features of Loans to Self Help Group (SHG)
| Loan Size | ₹1,50,000 to ₹20,00,000 per SHG | |||||||||||||
| Products Offered | Term Loan (TL) | |||||||||||||
| Rate of Interest |
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| Loan Tenure | 24-36 Months | |||||||||||||
| Collateral | Collective liability of SHG; no individual collateral | |||||||||||||
| Applicable Charges | Processing fee of up to 1.49% (Excluding GST)per) of the total sanctioned amounts greater than INR 50,000. The processing fee shall be deducted during disbursement and the customer shall be provided with the balance amount | |||||||||||||
| Insurance coverage | Insurance for members is optional during the application process. | |||||||||||||
| Stamp duty & other statutory document charges | As per state stamp act; applied at branch level | |||||||||||||
| Purpose of Loan | Income-generating activities | |||||||||||||
| Other Features | NRLM interest subvention eligibility; savings-linked SHG accounts | |||||||||||||
| Application form | Click here | |||||||||||||
| Agreement | Click here | |||||||||||||
| KFS | Click here for KFS | |||||||||||||
| Customer redressal toll free no | 1800-419-5577 | |||||||||||||
| Penal Charges | NA | |||||||||||||
| Channels | Direct & Business Correspondent | |||||||||||||
| Eligibility | Basic Requirements:
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Additional Conditions (Case-to-Case Basis)::
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| Branch List | Click here for Branch List | |||||||||||||
| Rate of Interest Disbursed | ROI | |||||||||||||
| Fair Practice Code | Click here for FPC |
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