Institution

Growing Opportunity Finance (India) Pvt. Ltd. No.12, Ramasamy Street, I FloorT. NagarChennai, Tamil Nadu600017
Data approved: 2011-01-01
Data version: 1
Age of data: 163 months

Institution

Rich Step Investment Head OfficeTemaKpone, Greater AccraP.O. Box SC116
Data approved: 2013-03-14
Data version: 2
Age of data: 132 months

Product

Urban Trust Bank Product 4 of 4 « Prev | Next »

Product

Petty Traders Loan Product 1 of 1 « Prev | Next »

Product Summary

Number borrowers31,539
Loan Amount (range)INR 3,000 - 25,000
Loan Term (range)6 - 12
Other Services (text summary)Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Business Training, Other Training, Health / Social Issue Training
Annual Interest & Method12.0%-15.5% annual, Flat
Fees2.00% upfront
Insurance70.00 upfront
TaxNone
Comp DepN/A
Range of pricing 
Interest Price ComponentN/A
Fee Component29.2% - 42.3% (Int+Fee)
Insurance Component0
Tax Component Range0
Full APR (int fee ins tax dep)29.2% - 42.3%
Transparency Index (min/max)28 - 53
Transparency Index (average)33

Product Summary

150
GHS 50 - 1,000
1 - 5
Group Mtgs, Credit Ins, Other Training
60.00%-120.00% annual, Flat
2 fees
None
None
25.00% upfront
 
121.8% - 212.2%
17.8% - 41.3%
0
0
259.4% - 420.1%
14 - 23
16

Product Details

Key Statistics
Outstanding portfolio (INR)INR 155,627,000
Portfolio (USD)USD 2,936,358.49
Active Clients with Loans31,539
Approximate % Female Clients80% - 100%
Approximate % Urban Clients80% - 100%
Methodology
Individual
Solidarity groupx
Village banking
Self help groupx
OtherIndividuals run business with no formal bank linkages; has characteristics of both solidarity groups and self-help groups.
Description
This is a group loan designed for groups of 12-20 women to finance micro-businesses in urban areas.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit educationx
Group meetingsx
Credit insurancex
Workplace visitsx
Business trainingx
Other trainingx
OtherHealth / Social Issue Training
Other (2)
No other services
Eligibility
Men
Womenx
Must run a businessx
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)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institutionN/A
# Regions for this productN/A
Regions Active

Product Details

Key Statistics
Outstanding portfolio (GHS)GHS 200,000
Portfolio (USD)USD 101,522.84
Active Clients with Loans150
Approximate % Female Clients40% - 60%
Approximate % Urban Clients80% - 100%
Methodology
Individualx
Solidarity groupx
Village banking
Self help group
Other
Description
Designed for petty traders to increase capital.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit education
Group meetingsx
Credit insurancex
Workplace visits
Business training
Other trainingx
Other
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a businessx
Must own a home or landx
Must be a salaried worker
Must be specific age groupx
Other
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution1
# Regions for this product1
Regions ActiveGreater Accra Region

Loan Conditions

Loan Amount
CurrencyINR
Minimum loan sizeINR 3,000
Maximum loan size25,000
Loan Term and Grace Period
Shortest loan term6.0 months
Longest loan term12.0 months
Approx average10.0 months
Grace Period
Grace period usage0
Average grace period0
Repayment Frequency
Daily
Weeklyx
Every 2 weeksx
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Loan Conditions

Loan Amount
CurrencyGHS
Minimum loan sizeGHS 50
Maximum loan size1,000
Distribution at Disbursement (Est.)
Loans less than GHS 1,000100%
GHS 1,000-5,0000
GHS 5,000-7,5000
GHS 7,500-10,0000
GHS 10,000-13,0000
Greater than GHS 13,0000
Loan Term and Grace Period
Shortest loan term1.0 month
Longest loan term5.0 months
Approx average5.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less50%
Between 4 and 6 months50%
Between 7 and 9 months0
Between 10 and 12 months0
Between 13 and 18 months0
Longer than 18 months0
Grace Period
Grace period usage100%
Average grace period0.3 months
Repayment Frequency
Dailyx
Weeklyx
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 interest1.00%
Highest quoted nominal interest1.29%
Reason(s) why interest rate variesTime as Client
Interest rate periodMonthly
Interest Rate Calculation MethodFlat
Subsidized by funder request?Yes
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionProcessing Fee
% of loan amount - min2.00%
% of loan amount - max2.00%
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 Fee
% of loan amount - min0
% of loan amount - max0
OR, Fixed amount - min70
Fixed amount - max70
Reason for variationN/A
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?No
Additional Comments
N/A

Pricing Information

Interest
Lowest quoted nominal interest5.00%
Highest quoted nominal interest10.00%
Reason(s) why interest rate variesClient Risk, First-cycle loans are charged 10%, multiple-cycle loans are charged 5%, due to differing risk of default.
Interest rate periodMonthly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1Fee 2
DescriptionProcessing FeeForm Fee
% of loan amount - min2.00%0
% of loan amount - max2.00%0
OR, Fixed amount - min03
Fixed amount - max03
Reason for variationN/AN/A
Appears on Repayment Sched?NoYes
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?No
Do borrowers control deposit in their group?No
Deposit BEFORE or AT Disbursement
% loan amount deposited25.00%
or, Fixed-amount deposited0
Deposits DURING period payments
% loan amount deposited0
or, Fixed-amount deposited0
Conditions on access to depositFinal Pmt
Interest Paid on Deposit
Minimum interest rate paid0
Maximum interest rate paid0
Interest payment frequencyN/A
Taxes
Are taxes charged on this product?No

Full Pricing Data

Urban Trust Bank samples
Sample 1Sample 2Sample 3
Loan AmountINR 5,000INR 10,000INR 20,000
Loan Cycle (1, 2, 3, etc)123
Disbursement Date2010-05-282010-05-212010-05-12
Loan Term (Months)5.6 months9.3 months12.0 months
Grace Period (Months)0.0 months0.0 months0.0 months
Total Cost of CreditNot KnownNot KnownNot Known
True Price by Comp     
Interest and Fee Component42.3%38.2%29.2%
Insurance Component0.0%0.0%0.0%
Tax Component0.0%0.0%0.0%
Deposit Component0.0%0.0%0.0%
Full APR (int fee ins tax dep)42.3%38.2%29.2%
MFIN MFI Earning (Annualised)42.3%38.2%29.2%
MFIN Cost to Borrower (Annualised)42.3%38.2%29.2%
Transparency Index283141
MFIN Transparency IndexN/AN/AN/A
      
Original Repayment SchedulePDFPDFPDF
MFT Pricing CalculationPDFPDFPDF
* The APR stated here is an MFTransparency term, definition and formula

Full Pricing Data

Petty Traders Loan samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountGHS 200GHS 400GHS 500GHS 1,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot Known
Disbursement Date2012-05-032012-06-192012-04-232012-08-22
Loan Term (Months)2.2 months3.2 months4.1 months2.2 months
Grace Period (Months)0.1 months0.1 months0.0 months0.1 months
Total Cost of CreditGHS 47GHS 131GHS 213GHS 143
True Price by Comp       
Interest price component204.1%210.7%212.2%121.8%
Fee Component41.3%23.5%17.8%25.5%
Insurance Component0.0%0.0%0.0%0.0%
Tax Component0.0%0.0%0.0%0.0%
Deposit Component174.7%157.6%136.3%112.1%
Full APR (int fee ins tax dep)420.1%391.8%366.3%259.4%
Transparency Index14151623
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF
Urban Trust Bank Price Graphs


Petty Traders 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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