Please note that the information you are viewing is
165 months old and may not represent the prices currently charged.
If you represent this MFI and wish to update your information,
click HERE
Institution
Data approved: 2010-11-15
Data version: 1
Age of data: 165 months
Institution Type | Non-Governmental Organization |
Is this institution regulated? | No |
Website address | N/A |
Year established | 2007 |
Head of Institution | Jayanta Dutta |
Regions active | |
# Branches | 2 |
Total Portfolio (nat'l) | INR 7,701,610 |
Total Portfolio (USD) | USD 145,313.40 |
Active clients with loans | 1,888 |
Approximate % female clients | 80% - 100% |
Approximate % urban clients | 0% - 20% |
Network affiliations | |
1,888 Borrowers
USD 145,313.40 Portfolio
Active Product
Loan Products » Conditions
Product Name |
|
Loan Size Range |
|
Loan Term (months) |
|
% Female |
|
% Urban |
|
Loan Purpose |
|
Eligibility |
|
Other Services |
Micro |
|
INR 1,000 - 50,000 |
|
6 - 10.7 |
|
80% - 100% |
|
0% - 20% |
|
Business, Consumer |
|
Women, Have business, Have home or land |
|
Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Business Training, Other Training |
Loan Products » MFIN India Additional Information
Product Name |
|
APR (int) |
|
MFIN MFI Earning (Annualised) |
|
MFIN Cost to Borrower (Annualised) |
|
COMPLIANCE WITH RBI GUIDELINES ON INTEREST METHOD |
|
COMPLIANCE WITH RBI GUIDELINES ON PROCESSING FEES |
|
COMPLIANCE WITH RBI GUIDELINES ON INSURANCE PREMIUM |
|
MFIN Transparency Index |
Micro |
|
0 |
|
33.8% - 34.6% |
|
42.2% - 48% |
|
|
|
|
|
|
|
N/A |
Loan Products » Pricing Information
Product Name |
|
Annual Nominal Interest |
|
Fees |
|
Insurance |
|
Taxes |
|
Compulsory Deposit |
|
APR (int+fee) |
|
Full APR |
|
Transparency Index |
Micro |
|
15.0% annual, Flat |
|
1 Fee |
|
1 Ins |
|
None |
|
5.0% upfront 50.00 ongoing |
|
33.8% - 34.6% |
|
42.2% - 48% |
|
34 |
Please note that the information you are viewing is
134 months old and may not represent the prices currently charged.
If you represent this MFI and wish to update your information,
click HERE
Institution
Data approved: 2012-06-08
Data version: 2
Age of data: - months
Key Statistics
Outstanding portfolio (INR) | INR 86,749,700 |
Portfolio (USD) | USD 1,927,771 |
Active Clients with Loans | 20,684 |
Approximate % Female Clients | 80% - 100% |
Approximate % Urban Clients | 80% - 100% |
Methodology
Individual | |
Solidarity group | x |
Village banking | |
Self help group | |
Other | |
Description
It's a Top-UP loan for weekly borrowers. It is designed to meet the need of the urban dwellers for business promotion. Useful for small vendors like petty business, petty shops, street vendors, small food vendors etc.\r
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 | Must be a weekly Loan borrower |
Other (2) | age between 18 to 55 years |
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 8,000 |
Maximum loan size | 8,000 |
Loan Term and Grace Period
Shortest loan term | 10.0 months |
Longest loan term | 10.0 months |
Approx average | 10.0 months |
Distribution at Disbursement (Est.)
Loans 3 months or less | N/A |
Between 4 and 6 months | N/A |
Between 7 and 9 months | N/A |
Between 10 and 12 months | N/A |
Between 13 and 18 months | N/A |
Longer than 18 months | N/A |
Grace Period
Grace period usage | 0 |
Average grace period | 0 |
Repayment Frequency
Daily | |
Weekly | |
Every 2 weeks | |
Every 4 weeks | |
Monthly | x |
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 | | Fee 2 |
---|
Description | Loan Protection Fund(LPF) | | Processing Fee |
% of loan amount - min | 1.00% | | 1.25% |
% of loan amount - max | 1.00% | | 1.25% |
OR, Fixed amount - min | 0 | | 0 |
Fixed amount - max | 0 | | 0 |
Reason for variation | | | |
Appears on Repayment Sched? | Yes | | Yes |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
This product has no upfront insurance feesOngoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required for | All |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | Yes |
Do borrowers control deposit in their group? | |
Deposit BEFORE or AT Disbursement
% loan amount deposited | 0 - N/A |
or, Fixed-amount deposited | INR 500 - N/A |
Deposits DURING period payments
% loan amount deposited | 0 - N/A |
or, Fixed-amount deposited | 0 - N/A |
Conditions on access to deposit | End Term |
Interest Paid on Deposit
Minimum interest rate paid | 0 |
Maximum interest rate paid | 0 |
Interest payment frequency | N/A |
Taxes
Are taxes charged on this product? | No |
Additional Comments
Rs. 5/- collected as cash collateral at the time of Loan Disbursement. The amount is repaid to the client without any interest when the loan is completed. \r
Full Pricing Data
Midterm Loan samples
| Sample 1 |
---|
Loan Amount | INR 8,000 |
Loan Cycle (1, 2, 3, etc) | Not Known |
Disbursement Date | 1900-01-00 |
Loan Term (Months) | 10.0 months |
Grace Period (Months) | 0 |
Total Cost of Credit | Not Known |
True Price by Comp | |
Interest and Fee Component | 24.5% |
Insurance Component | 2.4% |
Tax Component | 0 |
Deposit Component | 3.3% |
Full APR (int fee ins tax dep) | 30.2% |
MFIN MFI Earning (Annualised) | 24.5% |
MFIN Cost to Borrower (Annualised) | 30.2% |
Transparency Index | 40 |
MFIN Transparency Index | N/A |
| |
Original Repayment Schedule | PDF |
MFT Pricing Calculation | PDF |
* The APR stated here is an MFTransparency term, definition and formula
Midterm Loan Price Graphs