Unlock the value of your property with a secured loan designed to meet business or personal financial needs.

Axis Finance Personal Loan is designed to solve your financial requirements be it for a medical emergency, planning a much-needed family vacation, school fee, or for that makeover you have been waiting for, we offer straightforward financial solutions that can alleviate your worries. With our hassle free process you can avail Personal loan up to Rs 50 lakhs tailored to suit your requirements with a flexible loan tenure up to 7 years. 

Axis Finance Business Loan is the ideal solution for borrowers in need of funds to meet your immediate cash flow needs, purchase machinery to grow your business or increase stocks to cater to the upcoming festive season. We offer business loans up to Rs 50 lakhs to meet your short-term and medium-term financial needs, for a loan tenure of up to 48 months. Our simple and hassle-free processes offer faster processing of loans from anywhere.

Turn your dream of owning a home into reality with simple and flexible home loans tailored to your needs.

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Our portfolio comprises of secured loans against a variety of asset classes (ready residential, commercial and industrial properties etc.) with an identified cash-flow (rent, dividend, royalty, fee, dedicated business revenue etc.).

Our Corporate loan segment within the Wholesale Banking is sector agnostic and provides loan facilities with tenures ranging from 1 year to 12 years to all sizes of corporates (Conglomerates, large to mid-sized corporates and SMEs).

Our RE lending includes developers who have delivered ~2Mn sq.ft. of area comprising of ready inventory / late-stage projects and select under construction projects. We operate in all Tier 1 and Metro Cities and select micro-markets in Tier II cities as well.

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Insurance serves as the cornerstone of financial stability, providing a vital shield against life's uncertainties. Acting as a robust safety net, it safeguards your assets, health and loved ones from unexpected accidents and unforeseen disasters. Discover a diverse range of insurance products tailored to your specific needs and requirements, ensuring comprehensive protection and peace of mind for you and your family.

Life insurance is more than just financial protection; it's about safeguarding the ones we love.
With Axis Finance Ltd, you're not just getting insurance - you're getting a partner in financial security. Let us help you protect what matters most with the trusted insurers in the market.

With Axis Finance Limited, you will receive comprehensive plans to suit your General Insurance needs like Home Insurance, Commercial Property Insurance.

Explore the coverage options and enjoy peace of mind knowing that you and your loved ones are protected against unforeseen medical expenses.

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RBI instructions on ‘Prudential norms on Income Recognition, Asset Classification and Provisioning, pertaining to Advances

With reference to the RBI circular no. RBI/2021-2022/125 DOR.STR.REC.68/21.04.048/2021-22 dated 12th November, 2021, and RBI circular no. RBI/2021-2022/158 DOR.STR.REC.85/21.04.048/2021-22 dated 15th February, 2022, on Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances – Clarifications the following clarifications may kindly be noted.

An amount is to be treated as ‘Overdue’ if it is not paid on the due date fixed by Axis FinanceLtd.

The RBI circular DBR.No.BP.BC.45/21.04.048/2018-19 dated 7th June, 2019 on ‘Prudential Framework for Resolution of Stressed Assets’ requires the lenders to recognize incipient stress in borrower accounts, immediately on default, by classifying them as special mention accounts (SMA). It is clarified that the intervals are intended to be continuous and accordingly, the basis for classification of SMA categories shallbe as follows:

Loans other than revolving facilitiesLoans in the nature of revolving facilities like cash credit/overdraft

SMA Sub categories

Basis for classification – Principal or interest payment or any other amount wholly or partly overdue

SMA Subcategories

Basis for classification – Outstanding balance remains continuously in excess of the sanctioned limit or drawing power, whichever is lower, for a period of:

SMA 0

Up to 30 days

NA

NA

SMA 1

More than 30 days and Up to 60 days

SMA 1

More than 30 days and Up to 60 days

SMA 2

More than 60 days and Up to 90 days

SMA 2

More than 60 days and Up to 90 days

Accordingly, the date of SMA/NPA shall reflect the asset classification status of the loan account, at the dayend of that calendar date. An illustration of such classification is as follows:

  • SMA 0 -If due date of a loan account is 31st March, 2021, and full dues are not received on this date, the account shall be SMA 0 on day end of 31st March, 2021.
  • SMA 1 -If the account continues to remain overdue, then this account shall get tagged as SMA-1 upon completion of 30 days of being continuously overdue i.e. 30th April, 2021.
  • SMA 2 -If the account continues to remain overdue, it shall get tagged as SMA-2 on 30th May,2021
  • NPA -If the account continues to remain overdue further, it shall get classified as NPA on 29th June,2021

In the above context, it is further clarified that borrower accounts shall be flagged as overdue by the lending institutions as part of their day-end processes for the due date, irrespective of the time of running such processes.

In this regard, it is clarified that loan accounts classified as NPAs may be upgraded as ‘Standard’ asset only if entire arrears of interest and principal are paid by the borrower. With regard to upgrade of accounts classified as NPA due to restructuring, non-achievement of date of commencement of commercial operations (DCCO), etc., the instructions as specified for such cases shall continue to be applicable. In case of borrowers having more than one credit facility from a lending institution, loan accounts shall be upgraded from NPA to standard asset category only upon repayment of entire arrears of interest and principal pertaining to all the credit facilities.

RBI Norms on SMA or NPA - 2022

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