Axis Bank microfinance loan EMI payment on Bajaj Finance
Axis Bank extends microfinance services to individuals, joint liability groups (JLGs), and self-help groups (SHGs) through its wholesale and retail microfinance division. Within wholesale microfinance, the bank provides credit to Microfinance Institutions (MFIs) for onward lending to their clients.
You now have the convenience of making EMI payments anytime from anywhere and without the stress of filling out lengthy documents thanks to the BBPS platform on Bajaj Finance. The platform is simple to use and very welcoming to users and offers quick and hassle-free loan payment solutions to customers.
The Reserve Bank of India (RBI) introduced the concept of BBPS, intending to streamline digital payments. As Axis Bank’s microfinance services support individuals and groups in meeting their financial needs, convenient loan repayment plays an important role in the borrowing journey. With Bajaj Pay, customers can make their Axis Bank microfinance loan EMI payments securely and easily online, helping them stay on track with repayments and manage their finances with greater convenience.
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Benefits of making Axis Bank microfinance loan repayment using the Bajaj Finance BBPS platform
Some of the benefits of making Axis Bank microfinance loan repayment on the Bajaj Finance BBPS platform include:
Quick and hassle-free
With the BBPS platform on Bajaj Finance, you can repay your Axis Bank microfinance loan quickly and effortlessly.
Safe and secure
The Bajaj Finance BBPS is a safe and secure payment platform. Your payment details are secure with the platform’s robust security measures.
Multiple payment options
Bajaj Finance offers multiple payment options, including debit card, credit card, net banking, e-wallet, and UPI. This allows you to choose the payment method that suits you best.
Instant confirmation
After making the payment, the platform immediately confirms the payment through an email and SMS.
Types of Axis Bank microfinance
Axis Bank microfinance extends loans to two main categories of clients: Microfinance Institutions (MFIs) and individuals, joint liability groups (JLGs), and self-help groups (SHGs). Here are some of the loan offerings:
- MFIs loans: Axis Bank supports MFIs dedicated to the economic empowerment of micro-entrepreneurs and low-income earners. These financial services are provided to MFIs in a sustainable, ethical, and profitable manner.
- Axis sahyog: This loan initiative targets economically engaged impoverished women, offering small-ticket unsecured loans ranging from Rs. 12,000 to Rs. 60,000. Borrowers can access these loans either individually or as part of Joint Liability Groups (JLGs).
- SHGs/JLGs loans through BCs: This loan product is specifically crafted to address the financial needs of Self-Help Groups (SHGs) and Joint Liability Groups (JLGs) through the assistance of Business Correspondents (BCs).
Pay bank loans by other lenders
Apart from Axis Bank microfinance loan repayment, you can pay EMI for other loan providers across India, such as:
Steps to make Axis Bank microfinance loan repayment on the Bajaj Finance app
How to pay Axis Bank microfinance loan online through Bajaj Finance platforms
On the Bajaj Finance app
Download the Bajaj Finance app from the Google Play Store or App Store and install it on your device
Open the app, log in, or register if you are a new user
Scroll down to the ‘Bills and recharges’ section and click on 'Loan Repayment’
Search and select Axis Bank microfinance as your loan provider
Fill the required details
Click on ‘FETCH YOUR BILL’
Your bill amount appears, select ‘PROCEED TO PAY’
Choose your preferred payment option and click on ‘PAY NOW’
Once you have completed the transaction, you will get notified that the payment was successful
On the Bajaj Finance website
Go to the Bajaj Finance website
Scroll down to the ‘Bills and recharges’ section and click on 'Loan Repayment’
Enter your mobile number and login with an OTP
Search and select Axis Bank microfinance as your loan provider
Fill the required details
Click on ‘FETCH YOUR BILL’
Your bill amount appears, select ‘PROCEED TO PAY’
Choose your preferred payment option and click on ‘PAY NOW’
Once you have completed the transaction, you will get notified that the payment was successful
Explore other operators’ loan repayment pages
Recharge and Pay Bills
Bajaj Finance app for all your financial needs and goals
Trusted by 50 million+ customers in India, Bajaj Finance App is a one-stop solution for all your financial needs and goals.
You can use the Bajaj Finance App to:
- Apply for loans online, such as Instant Personal Loan, Home Loan, Business Loan, Gold Loan, and more.
- Invest in fixed deposits and mutual funds on the app.
- Choose from multiple insurance for your health, motor and even pocket insurance, from various insurance providers.
- Pay and manage your bills and recharges using the BBPS platform. Use Bajaj Pay and Bajaj Wallet for quick and simple money transfers and transactions.
- Apply for Insta EMI Card and get a pre-qualified limit on the app. Explore over 1 million products on the app that can be purchased from a partner store on Easy EMIs.
- Shop from over 100+ brand partners that offer a diverse range of products and services.
- Use specialised tools like EMI calculators, SIP Calculators
- Check your credit score, download loan statements and even get quick customer support—all on the app.
Download the Bajaj Finance App today and experience the convenience of managing your finances on one app.
Frequently asked questions
Yes, Bajaj Finance also provides other recharge services such as:
You can obtain your repayment schedule by contacting Axis Finance through its customer support channels. Send a WhatsApp message with "Hi" to 7036165000, or call the customer care helpline at 1800 209 5577 or 1800 103 5577. The support team can assist you with accessing or requesting your loan repayment schedule.
To close your Axis Finance personal loan, you need to follow these steps:
- Contact customer support: Reach out to Axis Finance customer support to get the outstanding loan amount and any foreclosure charges.
- Make the payment: Pay the outstanding amount through the available payment methods.
- Obtain no objection certificate (NOC): After the payment is processed, request a No Objection Certificate (NOC) from Axis Finance, which confirms the closure of your loan account.
You can get your loan repayment statement online by logging into your account on the Axis Finance website or the Bajaj Finance BBPS platform. Navigate to the loan section and select the option to view or download your repayment statement.
Yes, you can make partial prepayments on your Axis Microfinance loan. Partial prepayments help reduce the principal amount, thereby lowering the overall interest burden. It is advisable to check with Axis Finance for any prepayment charges or conditions that may apply.
