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Institution
Data approved: 2010-10-25
Data version: 1
Age of data: - months
Key Statistics
| Outstanding portfolio (INR) | INR 1,605,536,570 |
| Portfolio (USD) | USD 35,678,590.44 |
| Active Clients with Loans | 171,534 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 80% - 100% |
Methodology
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other | |
Description
Loans provided to a group of members who co-gurarantee each other where in loans are used for a range of our purposes including repayment of existing loans, education, micro enterprises, emergency etc.\r
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 | Charges paid by customers includes the services we provide under training and educating them on loan |
| 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 |
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 | 30,000 |
Loan Term and Grace Period
| Shortest loan term | 9.0 months |
| Longest loan term | 24.0 months |
| Approx average | 15.0 months |
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 | 2.33% |
| Highest quoted nominal interest | 2.50% |
| 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 |
|---|
| Description | Service charges (2.25% or Rs 610, whichever is less) |
| % of loan amount - min | 2.25% |
| % of loan amount - max | 2.25% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | |
| Appears on Repayment Sched? | Yes |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 |
|---|
| Description | Insurance premiun + Loan Documentation Fee |
| % of loan amount - min | 0 |
| % of loan amount - max | 0 |
| OR, Fixed amount - min | 115 |
| Fixed amount - max | 215 |
| Reason for variation | |
| Appears on Repayment Sched? | Yes |
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 | Final Pmt |
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 |
Additional Comments
A) The Service charges are 2.25% of the loan amount or Rs 61, whichever is mimimum. B) Insurance premium is Rs. 1 for the loan term upto 12 months, and Rs. 2 for Loan term longer than 12 months. the Insurance provides a Risk cover of Rs 75/-. C) The security deposit is interest free and will get adjusted with the last instalment amount in the 12th month and the borrower need to pay only the difference between the actual EMI & the Cash Security held with us.\r
Full Pricing Data
Small Group Loan samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 |
|---|
| Loan Amount | INR 10,000 | | INR 15,000 | | INR 20,000 | | INR 30,000 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2010-05-31 | | 2010-04-30 | | 2010-04-30 | | 2010-03-12 |
| Loan Term (Months) | 12.0 months | | 15.0 months | | 15.0 months | | 18.0 months |
| Grace Period (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 |
| True Price by Comp | | | | | | | |
| Interest and Fee Component | 37.9% | | 36.1% | | 33.7% | | 33.0% |
| Insurance Component | 2.0% | | 2.2% | | 1.6% | | 1.0% |
| Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Deposit Component | 7.8% | | 7.4% | | 6.9% | | 6.7% |
| Full APR (int fee ins tax dep) | 47.7% | | 45.7% | | 42.2% | | 40.7% |
| MFIN MFI Earning (Annualised) | 37.9% | | 36.1% | | 33.7% | | 33.0% |
| MFIN Cost to Borrower (Annualised) | 47.7% | | 45.7% | | 42.2% | | 40.7% |
| Transparency Index | 59 | | 61 | | 66 | | 69 |
| MFIN Transparency Index | N/A | | N/A | | N/A | | N/A |
| | | | | | | | |
| 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
