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Institution
Data approved: 2011-01-17
Data version: 1
Age of data: - months
Key Statistics
| Outstanding portfolio (INR) | INR 1,228,614,000 |
| Portfolio (USD) | USD 27,302,533.33 |
| Active Clients with Loans | 228,074 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 40% - 60% |
Methodology
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other | |
Description
Loans given to poor JLG women members for an income generative activity. The repayment period is 50 weeks and the loan amount ranges form Rs. 5000 to Rs Rs. 20000.
Loan Purpose
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) | |
Included Services
| Credit education | x |
| Group meetings | x |
| Credit insurance | x |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | |
| Other (2) | |
| No other services | |
Eligibility
| Men | |
| Women | x |
| Must run a business | |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | |
| Household income <60,000 INR | |
| Household income <120,000 INR | |
| Must live in rural area | |
| Must lives in urban area | |
| Other | |
| Other (2) | |
Portfolio Size by Product
Geographic Coverage
| # Regions for this institution | N/A |
| # Regions for this product | N/A |
| Regions Active | |
Loan Conditions
Loan Amount
| Currency | INR |
| Minimum loan size | INR 5,000 |
| Maximum loan size | 20,000 |
Loan Term and Grace Period
| Shortest loan term | 11.6 months |
| Longest loan term | 11.6 months |
| Approx average | 11.6 months |
Grace Period
| Grace period usage | 90% |
| Average grace period | 0.2 months |
Repayment Frequency
| Daily | |
| Weekly | x |
| Every 2 weeks | |
| Every 4 weeks | |
| Monthly | |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments | |
Pricing Information
Interest
| Lowest quoted nominal interest | 12.00% |
| Highest quoted nominal interest | 12.00% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | N/A |
| Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 |
|---|
| Description | Documentation fee (including Service Tax) [2.3% for loans below Rs 10000 and 5.67% for Loans above Rs. 10000] |
| % of loan amount - min | 2.30% |
| % of loan amount - max | 5.67% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | |
| Appears on Repayment Sched? | No |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 |
|---|
| Description | Insurance premium (including Service Tax) [0.5% for loans below Rs 10000 and 1.13% for Loans above Rs. 10000] |
| % of loan amount - min | 0.50% |
| % of loan amount - max | 1.13% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | |
| Appears on Repayment Sched? | No |
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
| Required for | Never |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | N/A |
| Do borrowers control deposit in their group? | N/A |
Deposit BEFORE or AT Disbursement
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
Deposits DURING period payments
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| Conditions on access to deposit | N/A |
Interest Paid on Deposit
| Minimum interest rate paid | N/A |
| Maximum interest rate paid | N/A |
| Interest payment frequency | N/A |
Taxes
| Are taxes charged on this product? | No |
Additional Comments
Given the current market conditions, Asirvad has decided to reduce the ticket sizes from the 22nd of Dec till further clarity is made available on funding from banks / FIs. Only loans of value Rs. 75 and Rs. 1 have been disbursed since then on which an upfront fee of 2.8% is being collected (inclusive of insurance and service tax). The repayment schedules mentioned here for Rs. 15 hold good for loans that have been disbursed prior to the 22nd of Nov only and even these will change as we move to the new schedule of charges.
Full Pricing Data
Income Generation Program Loan samples
| Sample 1 | | Sample 2 | | Sample 3 |
|---|
| Loan Amount | INR 5,000 | | INR 10,000 | | INR 15,000 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2010-05-10 | | 2010-05-31 | | 2010-05-31 |
| Loan Term (Months) | 11.7 months | | 11.7 months | | 11.7 months |
| Grace Period (Months) | 0.0 months | | 0.0 months | | 0.0 months |
| Total Cost of Credit | Not Known | | Not Known | | Not Known |
| True Price by Comp | | | | | |
| Interest and Fee Component | 35.4% | | 36.0% | | 36.2% |
| Insurance Component | 2.6% | | 2.6% | | 2.6% |
| Tax Component | 0.0% | | 0.0% | | 0.0% |
| Deposit Component | 0.0% | | 0.0% | | 0.0% |
| Full APR (int fee ins tax dep) | 38.0% | | 38.6% | | 38.9% |
| MFIN MFI Earning (Annualised) | 35.4% | | 36.0% | | 36.2% |
| MFIN Cost to Borrower (Annualised) | 38.0% | | 38.6% | | 38.9% |
| Transparency Index | 32 | | 31 | | 31 |
| MFIN Transparency Index | N/A | | N/A | | N/A |
| | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF |
* The APR stated here is an MFTransparency term, definition and formula
Income Generation Program Loan Price Graphs
