Axis Finance Limited (AFL), one of India’s rapidly growing non-banking financial companies (NBFCs), has introduced Axis Finance Shakti, a Micro Loan Against Property (Micro LAP) product, coinciding with the auspicious occasion of Dhanteras. This product aims to empower emerging customer segments by providing customized financial solutions for personal and business needs. Axis Finance Shakti targets micro-entrepreneurs, traders, and self-employed individuals in manufacturing, trading, and service sectors, along with salaried customers. With minimal documentation required, the product seeks to improve access to formal credit for a diverse range of business profiles.
Featuring streamlined processes, flexible tenure options, and a wide array of properties accepted as collateral, Axis Finance Shakti allows customers to utilize their property for business growth, working capital, or personal objectives. This initiative reinforces AFL’s commitment to delivering customer-focused and tailored financial solutions in emerging markets. In a statement regarding the launch, Sai Giridhar, MD & CEO of Axis Finance Limited, remarked, “The introduction of Axis Finance Shakti on Dhanteras highlights our ongoing dedication to financial inclusion and customer-centric solutions. This product is tailored for micro-entrepreneurs, traders, and self-employed individuals who frequently encounter difficulties in obtaining formal credit.
By providing flexible tenures, extensive collateral acceptance, and simplified documentation, Shakti empowers customers to realize the potential of their property for personal and business advancement. We believe this initiative will help close the credit gap and encourage progress in emerging segments.” He added, “By leveraging technology and efficient processes, we aim to broaden our reach in emerging markets and deliver a seamless experience to all customers.” Earlier this fiscal year, Axis Finance launched Disha Home Loans, aimed at making homeownership more accessible for Economically Weaker Section (EWS) and Low-Income Group (LIG) segments. Building on that initiative, Axis Finance Shakti provides small-ticket property loans of up to Rs.
75 lakhs, enabling customers to unlock financial opportunities for both personal and business growth. Axis Finance has a longstanding and successful track record in secured mortgage products, supported by robust systems, processes, technology, talent, underwriting capabilities, and a strong distribution network.