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Axis Products

Microlend - Micro finance software

AXIS Microlend is an proven and ideal application for Micro-credit or Micro-finance. It takes care of all the back office and house-keeping tasks involved with Micro-financing and Micro-credit. Micro finance or Micro-credit targets low-income-group people, particularly women and underprivileged people. Micro-finance provides basic financial services like Small Loans, credits, Savings, deposits, low-premium insurance etc. Micro-finance helps in providing financial support to under-privileged people who cannot avail the services of established Banking systems.

Features

Members

The software allows to storing detailed information about members. It can store the following details

  • Social and economic background
  • Personal and demographic details
  • Education, Training & work experience
  • Employment
  • Detailed family information


Member groups

The software allows creation of a JLG (Joint Liability Group) model where members can be part of smaller multi-level groups. These groups act as collateral and guarantors for other group members.

 

Deposit Schemes for Members

Various deposit schemes, with different interest rates, eligibility criteria can be defined. Some features of deposit definition

  • Fixed or recurring
  • Floating or fixed maturity dates
  • Daily, weekly and monthly recurring schemes
  • Additional charges can be levied
  • Multiple interest calculation methods


Loan Schemes for Members

Various Loan schemes, with different interest rates can be defined. Some features of loan definition

  • Loan disbursement process – application, approval, disbursement. 
  • Multiple repayment periods like daily, weekly, bi-weekly, monthly, quarterly, six-monthly, yearly etc.
  • Detailed parameters for interest calculation. Interest calculation either by the number of days or according to the installment period. Number of days and number of weeks per year can be changed as per requirement.
  • Amortization schedule
  • Interest calculation on user defined compounding method.
  • Repayment Installments can start from the disbursement date or from a user specified date.
  • Highly flexible - date, principal and interest amount, installments, installment amount etc. can be changed and all subsequent records will be recalculated to accommodate the change.              
  • Guarantors or collateral are predefined for each loan account holder based on the group model. 
  • Penalties can be entered manually for each account or can be calculated and auto-posted based on pre-defined criteria.
  • In case of a default – payable amount can be recovered from member’s or guarantor’s deposit account.


Loan Recovery - Daily (periodic) Collection - manual or with Hand-held device

  • A demand note (or a collection sheet) can be generated based on parameters such as Area-wise, Agent-wise, Group-wise etc.
  • Easy tick-off entry for each demand note after collection.
  • Possibility to transfer demand list data to a handheld device.
  • Member identification by member-code, swipe-card or finger-print (device dependent)
  • Instant receipt from the hand-held device.
  • SMS confirmation of Amount Received. 
  • Dock and post collection data from device into Micro-lend application.


Financial Accounting

AXIS® MicroLend is tightly integrated with a fully functional financial accounting system – AXIS® PRO-II.

  • Each loan and deposit product is associated with a General Ledger.
  • Each associated interest and penalty account is linked with a General Ledger.
  • Each transaction is directly booked into the corresponding General Ledger and updates he Charts of accounts in real-time.

Reports

  • All reports can be exported to Word, Excel, PDF
  • All reports can be directly E-mailed*
  • Detailed member information & Bio-data with Photograph
  • Member ledgers, loan/deposit ledgers
  • Related accounting, MIS reporting, final reports
  • Member loan/deposit history – detailed and Summary. Details of historical data including past and current loans, deposits, payment history etc.


General Features

  • Multiuser client-server architecture
  • User Roles and Rights
  • SMS & Email Integration
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TESTIMONIALS

Designed and developed by Kumbhdesign Inc.