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Institution
Data approved: 2013-05-14
Data version: 3
Age of data: 140 months
Key Statistics
Outstanding portfolio (INR) | INR 93,442,973 |
Portfolio (USD) | USD 1,763,074.96 |
Active Clients with Loans | 146,981 |
Approximate % Female Clients | 100% |
Approximate % Urban Clients | 20% - 40% |
Methodology
Individual | |
Solidarity group | x |
Village banking | |
Self help group | |
Other | |
Description
It is a product in Livelihood improvement category for meeting emergency needs of the members
Loan Purpose
Any purpose | x |
Income generation | |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | |
Other (2) | |
Included Services
Credit education | x |
Group meetings | x |
Credit insurance | |
Workplace visits | |
Business training | |
Other training | |
Other | Jagruthi- Client Education Series |
Other (2) | Socio-Economic Development Workshop |
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 | x |
Household income <120,000 INR | x |
Must live in rural area | |
Must lives in urban area | |
Other | Member should have running IGL Pragati or IGL Pragati Plus or Water or Sanitation loan |
Other (2) | |
Portfolio Size by Product
Geographic Coverage
# Regions for this institution | 3 |
# Regions for this product | 3 |
Regions Active | Karnataka, Maharashtra, Tamil Nadu |
Loan Conditions
Loan Amount
Currency | INR |
Minimum loan size | INR 1,000 |
Maximum loan size | 1,000 |
Distribution at Disbursement (Est.)
Loans less than INR 5,000 | 100% |
INR 5,000-15,000 | 0 |
INR 15,000-25,000 | 0 |
INR 25,000-35,000 | 0 |
INR 35,000-45,000 | 0 |
Greater than INR 45,000 | 0 |
Loan Term and Grace Period
Shortest loan term | 2.6 months |
Longest loan term | 2.8 months |
Approx average | 2.6 months |
Distribution at Disbursement (Est.)
Loans 3 months or less | 100% |
Between 4 and 6 months | 0 |
Between 7 and 9 months | 0 |
Between 10 and 12 months | 0 |
Between 13 and 18 months | 0 |
Longer than 18 months | 0 |
Grace Period
Grace period usage | 100% |
Average grace period | 0.2 months |
Repayment Frequency
Daily | |
Weekly | x |
Every 2 weeks | x |
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 | 24.00% |
Highest quoted nominal interest | 24.00% |
Interest rate period | Yearly |
Interest Rate Calculation Method | Decl Bal |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 |
---|
Description | Processing Fee |
% of loan amount - min | 1.00% |
% of loan amount - max | 1.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | 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 | 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? | Yes |
Percentage of fees | 12.4% |
All or some fees taxed | Some |
Additional Comments
For this product interest is taken up-front along with processing fees. Moratorium Period (Repayment Holiday) - one installment for principal only
Full Pricing Data
Emergency Loan samples
| Sample 1 | | Sample 2 | | Sample 3 |
---|
Loan Amount | INR 1,000 | | INR 1,000 | | INR 1,000 |
Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known |
Disbursement Date | 2013-01-29 | | 2013-04-16 | | 2013-04-16 |
Loan Term (Months) | 2.6 months | | 2.6 months | | 2.1 months |
Grace Period (Months) | 0.2 months | | 0.2 months | | 0.2 months |
Total Cost of Credit | INR 41.24 | | INR 41.24 | | INR 41.24 |
True Price by Comp | | | | | |
Interest price component | 24.5% | | 24.5% | | 34.0% |
Fee Component | 8.4% | | 8.4% | | 11.6% |
Insurance Component | 0.0% | | 0.0% | | 0.0% |
Tax Component | 1.0% | | 1.0% | | 1.5% |
Deposit Component | 0.0% | | 0.0% | | 0.0% |
Full APR (int fee ins tax dep) | 33.9% | | 33.9% | | 47.1% |
MFIN MFI Earning (Annualised) | 32.9% | | 32.9% | | 45.6% |
MFIN Cost to Borrower (Annualised) | 33.9% | | 33.9% | | 47.1% |
Transparency Index | 71 | | 71 | | 51 |
MFIN Transparency Index | 98 | | 98 | | 71 |
| | | | | |
Original Repayment Schedule | PDF | | PDF | | PDF |
MFT Pricing Calculation | PDF | | PDF | | PDF |
* The APR stated here is an MFTransparency term, definition and formula
Emergency Loan Price Graphs