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Institution

Grameen Financial Services Pvt. Ltd. (Grameen Koota) AvalahaliJP Nagar-9th PhaseBanglore, Karnataka560062
Data approved: 2013-05-14
Data version: 3
Age of data: 141 months
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Institution

Specialised Financial and Promotional Institution Bole Sub CityAddis AbabaPO Box 10689
Data approved: 2011-12-23
Data version: 1
Age of data: 157 months

Product

Education Loan Product 18 of 23 « Prev | Next »

Product

Individual Loan Product 2 of 3 « Prev | Next »

Product Summary

Number borrowers22,097
Loan Amount (range)INR 5,000 - 5,000
Loan Term (range)11.63 - 12.1
Other Services (text summary)Credit Educ, Group Mtgs, Credit Ins, Jagruthi- Client Education Series, Socio-Economic Development Workshop
Annual Interest & Method22.0% annual, Decl Bal
Fees1.00% upfront
Insurance26.00-77.00 upfront
Tax12.36% fees
Comp DepN/A
Range of pricing 
Interest Price Component21.8% - 34.0%
Fee Component1.1% - 11.6%
Insurance Component0 - 16.6%
Tax Component Range0.1% - 1.5%
Full APR (int fee ins tax dep)27.6%
Transparency Index (min/max)51 - 92
Transparency Index (average)80

Product Summary

1,500
ETB 10,000 - 120,000
12 - 30
Credit Educ, Business Training
16.0%-20.0% annual, Flat
None
None
None
5.0%-10.0% upfront
 
N/A
29.4% - 30.9% (Int+Fee)
0
0
34.4% - 36.0%
44 - 52
45

Product Details

Key Statistics
Outstanding portfolio (INR)INR 27,742,077
Portfolio (USD)USD 523,435.42
Active Clients with Loans22,097
Approximate % Female Clients100%
Approximate % Urban Clients20% - 40%
Methodology
Individual
Solidarity groupx
Village banking
Self help group
Other
Description
It is a product in Social Welfare category. To meet the educational expenses of memberÂ’s children
Loan Purpose
Any purpose
Income generation
Mortgage/housing
Consumer loan
Agriculture
Educationx
Other household finance
Other
Other (2)
Included Services
Credit educationx
Group meetingsx
Credit insurancex
Workplace visits
Business training
Other training
OtherJagruthi- Client Education Series
Other (2)Socio-Economic Development Workshop
No other services
Eligibility
Men
Womenx
Must run a business
Must own a home or land
Must be a salaried worker
Must be specific age group
Household income <60,000 INRx
Household income <120,000 INRx
Must live in rural area
Must lives in urban area
OtherThe member must have availed IGL-Pragati at least once.New members eligible after 6 months from the date of becoming the member
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution3
# Regions for this product3
Regions ActiveKarnataka, Maharashtra, Tamil Nadu

Product Details

Key Statistics
Outstanding portfolio (ETB)ETB 2,400,000
Portfolio (USD)USD 130,434.78
Active Clients with Loans1,500
Approximate % Female Clients40% - 60%
Approximate % Urban Clients80% - 100%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
This product targets urban clients and is offered on individual basis. The loan is backed by personal guarantee (e.g. salary or property)
Loan Purpose
Any purposex
Income generation
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit educationx
Group meetings
Credit insurance
Workplace visits
Business trainingx
Other training
Other
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a business
Must own a home or land
Must be a salaried worker
Must be specific age group
Other
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institutionN/A
# Regions for this productN/A
Regions Active

Loan Conditions

Loan Amount
CurrencyINR
Minimum loan sizeINR 5,000
Maximum loan size5,000
Distribution at Disbursement (Est.)
Loans less than INR 5,000100%
INR 5,000-15,0000
INR 15,000-25,0000
INR 25,000-35,0000
INR 35,000-45,0000
Greater than INR 45,0000
Loan Term and Grace Period
Shortest loan term11.6 months
Longest loan term12.1 months
Approx average12.1 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months0
Between 7 and 9 months0
Between 10 and 12 months100%
Between 13 and 18 months0
Longer than 18 months0
Grace Period
Grace period usage100%
Average grace period0.2 months
Repayment Frequency
Daily
Weeklyx
Every 2 weeksx
Every 4 weeksx
Monthly
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Loan Conditions

Loan Amount
CurrencyETB
Minimum loan sizeETB 10,000
Maximum loan size120,000
Loan Term and Grace Period
Shortest loan term12.0 months
Longest loan term30.0 months
Approx average18.0 months
Grace Period
Grace period usage10%
Average grace period3.0 months
Repayment Frequency
Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 months
Quarterlyx
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest
Lowest quoted nominal interest22.00%
Highest quoted nominal interest22.00%
Interest rate periodYearly
Interest Rate Calculation MethodDecl Bal
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionProcessing Fee
% of loan amount - min1.00%
% of loan amount - max1.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?Yes
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionInsurance Fees
% of loan amount - min0
% of loan amount - max0
OR, Fixed amount - min26
Fixed amount - max77
Reason for variationPremium For Member (In case the member has no spouse or if spouse is not eligible for coverage, only member should be covered under the scheme)-Rs 26, Premium for member and spouse-Rs 77
Appears on Repayment Sched?Yes
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forNever
CriteriaN/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 depositedN/A
or, Fixed-amount depositedN/A
Deposits DURING period payments
% loan amount depositedN/A
or, Fixed-amount depositedN/A
Conditions on access to depositN/A
Interest Paid on Deposit
Minimum interest rate paidN/A
Maximum interest rate paidN/A
Interest payment frequencyN/A
Taxes
Are taxes charged on this product?Yes
Percentage of fees12.4%
All or some fees taxedSome
Additional Comments
Moratorium Period (Repayment Holiday) - one installment for principal only

Pricing Information

Interest
Lowest quoted nominal interest16.00%
Highest quoted nominal interest20.00%
Reason(s) why interest rate variesDepends on repayment frequency
Interest rate periodYearly
Interest Rate Calculation MethodFlat
Subsidized by funder request?
Is rate fixed for entire loan termYes
Upfront Fees
This product has no upfront fees
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
This product has no upfront insurance fees
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forAll
CriteriaN/A
Is deposit indicated on the repayment schedule?
Do borrowers control deposit in their group?
Deposit BEFORE or AT Disbursement
% loan amount deposited5.00% - 10.00%
or, Fixed-amount deposited0
Deposits DURING period payments
% loan amount deposited0
or, Fixed-amount deposited0
Conditions on access to depositEnd Term
Interest Paid on Deposit
Minimum interest rate paid5.00%
Maximum interest rate paid5.00%
Interest payment frequencyAnnually
Taxes
Are taxes charged on this product?No
Additional Comments
10% compulsory savings on loan size up to 5000 ETB, and 5% for above 5000 ETB. Interest on savings is paid every 6 months. Client can access any savings saved afer the first term of savings.

Full Pricing Data

Education Loan samples
Sample 1Sample 2Sample 3
Loan AmountINR 5,000INR 5,000INR 5,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot Known
Disbursement Date2013-04-252013-04-252013-04-25
Loan Term (Months)12.0 months12.0 months12.0 months
Grace Period (Months)0.0 months0.0 months0.0 months
Total Cost of CreditINR 722.18INR 722.18INR 722.18
True Price by Comp     
Interest price component22.1%22.1%22.1%
Fee Component2.1%2.1%2.1%
Insurance Component3.2%3.2%3.2%
Tax Component0.2%0.2%0.2%
Deposit Component0.0%0.0%0.0%
Full APR (int fee ins tax dep)27.6%27.6%27.6%
MFIN MFI Earning (Annualised)24.2%24.2%24.2%
MFIN Cost to Borrower (Annualised)27.6%27.6%27.6%
Transparency Index808080
MFIN Transparency Index100100100
      
Original Repayment SchedulePDFPDFPDF
MFT Pricing CalculationPDFPDFPDF
* The APR stated here is an MFTransparency term, definition and formula

Full Pricing Data

Individual Loan samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountETB 10,000ETB 10,000ETB 15,000ETB 40,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot Known
Disbursement Date2011-10-182011-10-282011-10-072011-10-18
Loan Term (Months)18.0 months18.0 months18.0 months30.0 months
Grace Period (Months)0.0 months0.0 months0.0 months0.0 months
Total Cost of CreditNot KnownNot KnownNot KnownNot Known
True Price by Comp       
Interest and Fee Component29.4%29.4%29.4%30.9%
Insurance Component0.0%0.0%0.0%0.0%
Tax Component0.0%0.0%0.0%0.0%
Deposit Component5.0%5.0%5.0%5.0%
Full APR (int fee ins tax dep)34.4%34.4%34.4%36.0%
Transparency Index46464644
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF
Education Loan Price Graphs


Individual Loan Price Graphs


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Key Statistics
# Samples:
# Products
# Institutions
# Countries
# Borrowers
Loan Portfolio (USD)
% Products using declining balance
% Products with one or more fee
% Products with one or more insurances
% Products with compulsory deposits
Filter table:
Country InstAbbrev SampleCode Loan Amount USD Loan Term (Months) SampClients FullAPR DateApproved
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