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

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Institution

Janalakshmi Financial Services (P) Ltd. No. 302, 7th Cross, 4th Main, Domlur LayoutBangalore, Karnataka560071

Data approved: 2010-10-25

Data version: 1

Age of data: - months

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Product

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Product Details

Key Statistics

Outstanding portfolio (INR)	INR 12,275,833
Portfolio (USD)	USD 272,796.29
Active Clients with Loans	1,189
Approximate % Female Clients	60% - 80%
Approximate % Urban Clients	60% - 80%

Methodology

Individual	x
Solidarity group
Village banking
Self help group
Other

Description

Provide loans to individuals which are used for specific purpose of education alone\r

Loan Purpose

Any purpose
Income generation
Mortgage/housing
Consumer loan
Agriculture
Education	x
Other household finance
Other
Other (2)

Included Services

Credit education	x
Group meetings
Credit insurance
Workplace visits
Business training
Other training
Other
Other (2)
No other services

Eligibility

Men	x
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 have children who are studying until the age of 24 yrs
Other (2)

# Borrowers by Product

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 5,000
Maximum loan size	50,000

Loan Term and Grace Period

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

Grace Period

Grace period usage	90%
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	2.00%
Highest quoted nominal interest	2.00%
Interest rate period	Monthly
Interest Rate Calculation Method	Decl Bal
Subsidized by funder request?	N/A
Is rate fixed for entire loan term	Yes

Upfront Fees

	Fee 1	Fee 2
Description	Documentation Fee	Service Charges (2.25% or Rs 610, whichever is less)
% of loan amount - min	0	2.25%
% of loan amount - max	0	2.25%
OR, Fixed amount - min	70	0
Fixed amount - max	70	0
Reason for variation
Appears on Repayment Sched?	Yes	Yes

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 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	10.00% - N/A
or, Fixed-amount deposited	0 - 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

Are taxes charged on this product?

Full Pricing Data

Education Loan samples

	Sample 1	Sample 2	Sample 3	Sample 4	Sample 5
Loan Amount	INR 5,000	INR 10,000	INR 15,000	INR 25,000	INR 30,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known	Not Known	Not Known
Disbursement Date	2010-07-02	2010-07-01	2010-07-01	2010-06-23	2010-07-01
Loan Term (Months)	12.0 months	12.0 months	12.0 months	12.0 months	12.0 months
Grace Period (Months)	0.0 months	0.0 months	0.0 months	0.0 months	0.0 months
Total Cost of Credit	Not Known	Not Known	Not Known	Not Known	Not Known
True Price by Comp
Interest and Fee Component	33.5%	32.0%	31.5%	31.0%	30.6%
Insurance Component	0.0%	0.0%	0.0%	0.0%	0.0%
Tax Component	0.0%	0.0%	0.0%	0.0%	0.0%
Deposit Component	6.6%	6.3%	6.2%	6.0%	6.0%
Full APR (int fee ins tax dep)	40.1%	38.4%	37.7%	37.1%	36.6%
MFIN MFI Earning (Annualised)	33.5%	32.0%	31.5%	31.0%	30.6%
MFIN Cost to Borrower (Annualised)	40.1%	38.4%	37.7%	37.1%	36.6%
Transparency Index	60	63	64	65	66
MFIN Transparency Index	N/A	N/A	N/A	N/A	78

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

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

Education Loan Price Graphs

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Institution	# Borrowers	Portfolio (US$)	Products	Age of Data
Adhikar	35,300	2,674,000	1	133
AMPL	0	0	0	133
Arman	41,500	529,107,000	1	133
Arohan	43,500	8,091,000	2	133
ASA INDIA	164,000	15,380,000	1	133
Asirvad	113,500	19,328,000	1	133
Asmitha	1,114,800	217,867,000	1	133
Bandhan	4,048,600	674,564,000	5	133
Belstar	123,000	23,945,000	2	111
BSFL	275,200	31,590,000	3	133
Chaitanya	20,700	3,748,000	3	133
Disha Microfin	69,000	14,332,000	2	133
Equitas	1,220,000	186,415,000	4	133
ESAF	354,200	43,500,000	5	133
FFSL	150,600	35,719,000	2	133
Fusion	66,800	9,820,000	2	133
Grama Vidiyal	738,200	102,101,000	1	133
Grameen Koota	586,600	83,555,000	15	135
Janalakshmi	506,000	119,077,000	2	133
L & T Finance	399,800	37,199,000	1	133
MFL	331,800	49,083,000	1	133
MMFL	175,000	23,752,000	2	133
Mpower	13,600	2,263,000	2	133
Sahayata	0	0	0	133
Saija	24,700	4,682,000	2	133
Samasta	45,500	4,809,000	2	133
Satin	405,600	90,174,000	2	133
SCCI	115,600	15,910,000	2	133
Share	2,195,400	376,727,000	1	133
SKS	3,409,000	355,029,000	2	133
SMILE	360,200	56,927,000	1	133
SNFL	9,400	1,779,000	1	133
Sonata Finance	158,200	22,724,000	3	135
Spandana	533,400	147,240,000	2	133
Suryoday	78,600	14,713,000	3	133
SVCL	118,200	18,886,000	1	133
Swadhaar	92,800	17,166,000	3	133
Trident	68,700	8,852,000	1	133
Ujjivan	913,300	160,848,000	5	133
Utkarsh	168,600	25,915,000	3	133
VFS	175,400	19,264,000	2	133
Asomi	50,300	4,743,000	2	165
AES India	3,600	286,000	1	165
Arth	2,900	611,000	2	165
Asomi	50,300	4,743,000	2	165
Barasat GS	1,100	99,508.02	1	165
BJS	6,000	468,000	1	165
Cashpor	417,000	50,452,000	1	164
Credible	10,000	1,669,540.36	2	165
DIBAKAR	1,800	145,000	1	164
GOF	65,200	5,388,000	4	164
Hope	62,600	4,407,000	1	162
Jaago	2,700	237,000	1	163
LOK	4,900	573,000	1	164
Nano	25,600	3,660,000	2	165
NBSAAVS	28,100	2,821,000	1	162
Nirantara	8,200	917,000	2	164
Parama	7,100	482,000	1	164
Pragathi	26,200	4,579,000	6	164
PWMACS	36,500	5,946,000	1	164
Saadhana	90,900	12,046,000	2	164
Sambhav	1,500	183,000	3	164
Seba Rahara	6,700	468,000	1	164
SU	61,100	5,498,000	1	164
Swayanshree	7,900	918,000	2	164
Vikas Samiti	1,600	168,000	1	164
Vistaar	4,300	1,157,000	2	162
We The People	1,100	244,000	2	164
WEMCS	1,100	85,000	1	164
Yukti	1,100	99,000	2	164

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
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Total Borrrowers of Samples


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