Janalakshmi Financial Services (P) Ltd. - Small Group Loan - MFTransparency.org Truth In Lending Tables

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Institution

Janalakshmi Financial Services (P) Ltd. Rajashree Saroja Plaza, 34/1, Andree Road,ShanthinagarBangalore, Karnataka560027

Data approved: 2013-05-03

Data version: 2

Age of data: 132 months

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Product

Small Group Loan Product 2 of 2 « Prev | Next »

Product Details

Key Statistics

Outstanding portfolio (INR)	INR 6,309,129,714
Portfolio (USD)	USD 119,040,183.30
Active Clients with Loans	505,914
Approximate % Female Clients	100%
Approximate % Urban Clients	100%

Methodology

Individual
Solidarity group	x
Village banking
Self help group
Other

Description

Small group loans are provided to a group consisting of members who co-gurarantee each other. The loans can be used for a range of purposes including repayment of existing loans, education, micro enterprises, emergency etc.

Loan Purpose

Any purpose
Income generation	x
Mortgage/housing	x
Consumer loan	x
Agriculture
Education	x
Other household finance	x
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	Group members must live within each other's vicinity.
Other (2)	Must demonstrate capacity to repay.

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

# Regions for this institution	9
# Regions for this product	9
Regions Active	Gujarat, Haryana, Karnataka, Madhya Pradesh, MaharashtraPunjab, Tamil Nadu, Uttar Pradesh, National Capital Territory of Delhi

Loan Conditions

Loan Amount

Currency	INR
Minimum loan size	INR 5,000
Maximum loan size	50,000

Distribution at Disbursement (Est.)

Loans less than INR 5,000	0
INR 5,000-15,000	70%
INR 15,000-25,000	20%
INR 25,000-35,000	10%
INR 35,000-45,000	0
Greater than INR 45,000	0

Loan Term and Grace Period

Shortest loan term	12.0 months
Longest loan term	24.0 months
Approx average	15.0 months

Distribution at Disbursement (Est.)

Loans 3 months or less	0
Between 4 and 6 months	0
Between 7 and 9 months	0
Between 10 and 12 months	70%
Between 13 and 18 months	0
Longer than 18 months	30%

Grace Period

Grace period usage	70%
Average grace period	1.0 month

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	26.00%
Highest quoted nominal interest	26.00%
Reason(s) why interest rate varies	Time as Client
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 fees

Upfront Insurance Fees

	Ins 1
Description	Insurance premium
% of loan amount - min	0.33%
% of loan amount - max	0.33%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	Premium is 0.325% of loan amount. If cover is for both borrower & co-borrower for 24 months, the total will be 0.325% of loan amount times 4.
Appears on Repayment Sched?	Yes

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?	Yes
Percentage of fees	12.4%
All or some fees taxed	Some

Full Pricing Data

Small Group Loan samples

	Sample 1	Sample 2	Sample 3	Sample 4
Loan Amount	INR 15,000	INR 20,000	INR 25,000	INR 30,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known	Not Known
Disbursement Date	2013-04-01	2013-04-04	2013-04-01	2013-04-01
Loan Term (Months)	12.0 months	24.0 months	24.0 months	24.0 months
Grace Period (Months)	0.0 months	-0.1 months	0.0 months	0.0 months
Total Cost of Credit	INR 2,908.54	INR 6,974.72	INR 8,795.90	INR 10,552
True Price by Comp
Interest price component	29.6%	27.9%	27.9%	27.9%
Fee Component	1.9%	1.1%	1.0%	1.0%
Insurance Component	1.7%	1.4%	1.4%	1.4%
Tax Component	0.2%	0.1%	0.1%	0.1%
Deposit Component	0.0%	0.0%	0.0%	0.0%
Full APR (int fee ins tax dep)	33.4%	30.5%	30.4%	30.4%
MFIN MFI Earning (Annualised)	31.5%	29.0%	28.9%	28.9%
MFIN Cost to Borrower (Annualised)	33.4%	30.5%	30.4%	30.4%
Transparency Index	78	85	86	86
MFIN Transparency Index	88	93	93	93

Original Repayment Schedule	PDF	PDF	PDF	PDF
MFT Pricing Calculation	PDF	PDF	PDF	PDF

* The APR stated here is an MFTransparency term, definition and formula

Small Group Loan Price Graphs

Click to view Price Analysis Tool

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1st Valley Bank	38,900	48,291,000	3	151
AJDFI	13,100	884,000	6	151
ARDCI	44,600	9,403,000	1	151
ASA Philippines	333,400	29,282,000	1	151
ASHI	35,400	5,231,000	6	151
ASKI	60,000	15,247,000	4	151
Bangko Kabayan	8,900	2,373,000	2	151
BSEI	600	73,000	2	151
CBI	8,100	2,010,000	5	151
CCT	70,300	9,504,000	4	151
CEV	35,400	5,111,000	4	151
DSPI	59,300	3,676,000	3	151
ECLOF	5,400	1,836,000	4	151
FCB	12,000	2,392,000	2	151
FMB	2,700	710,000	2	151
GM Bank	23,500	1,553,000	3	151
HSPFI	19,100	1,899,000	2	151
JVOFI	1,300	281,000	1	151
Katipunan Bank	42,100	5,325,000	2	151
KDCI	20,500	2,095,000	3	151
KGI	32,300	3,421,000	4	151
KMBI	245,000	15,098,000	1	151
LTMPC	37,400	8,935,000	3	151
Mallig Plains	6,500	641,000	2	151
MILAMDEC	29,800	3,278,000	2	151
MWIMPC	11,800	1,740,000	4	150
NWTF	105,500	12,698,000	5	151
OFMPC	4,400	964,000	1	151
PBC	50,700	10,434,000	4	151
PCSD	700	167,000	1	151
PMPC	23,500	5,565,000	8	151
RB Angeles	900	1,502,000	2	151
RB Labason	500	289,000	1	151
RBLI	5,200	1,026,000	2	151
RBMI	11,900	1,750,000	2	151
RMB	100	173,000	1	151
RSPI	39,600	2,834,000	4	151
SAFRAGEMC	1,100	229,000	1	151
Salve	10,900	1,191,000	3	151
SEDP	27,000	3,914,000	3	151
TSKI	212,900	25,187,000	2	151
TSPI	264,500	31,290,000	7	151
Valient	1,700	672,000	2	151

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

	X Axis
	Greater than:
	Less or equal to:
N (# of Samples)
Total Borrrowers of Samples


Avg
Min
Max
Std Dev

By Inst Type


By Country

	X Axis
	Greater than:
	Less or equal to:
	From 0 to
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Institution

Product

Product Details

Key Statistics

Methodology

Description

Loan Purpose

Included Services

Eligibility

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

Loan Conditions

Loan Amount

Distribution at Disbursement (Est.)

Loan Term and Grace Period

Distribution at Disbursement (Est.)

Grace Period

Repayment Frequency

Pricing Information

Interest

Upfront Fees

Ongoing Fees

Upfront Insurance Fees

Ongoing Insurance Fees

Compulsory Deposit

Deposit BEFORE or AT Disbursement

Deposits DURING period payments

Interest Paid on Deposit

Taxes

Full Pricing Data

Small Group Loan samples

Small Group Loan Price Graphs

Total Borrowers of Samples

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