| Loan Size |
Rs.51,000 to Rs.2,50,000
Cycle 1: Max. 1 Lakh
Cycle 2: Max. 1.5 Lakh
Cycle 3: Max. 2 Lakh
Cycle 4 & Above: Max. 2.5 Lakh. |
| Products Offered |
Samriddhi Loan |
| Rate of Interest |
25% per annum
*ROI is linked with 1 Year MCLR with No Reset
|
| Tenure |
24 to 36 months |
| Collateral |
Unsecured loans |
| Applicable charges |
Processing fees of 2% + Applicable GST. No pre-payment/partpayment charges
*No benefit passed on to the borrowers in terms of premium or tenure
reset in case of part-payments
|
| 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 |
Income generating activities
Home repair activities
Agri-allied activities |
| Other Features |
Customers with a minimum of 2 cycle vintage with Axis Bank Group
loans are eligible to apply for the Samriddhi Loan.
|
| Application form |
Click here |
| Agreement |
Click here |
| Customer redressal toll free no |
1800-419-5577 |
| penal interest |
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 |
