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Institution
Data approved: 2010-10-25
Data version: 1
Age of data: - months
Key Statistics
| Outstanding portfolio (INR) | INR 24,568,926 |
| Portfolio (USD) | USD 545,976 |
| Active Clients with Loans | 15,770 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 80% - 100% |
Methodology
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other | |
Description
To finance education expenses of children of existing Ujjivan customers studyingfrom LKG to 2nd PUC. The interest paid on this product is refunded to customers at the end of their loan cycle by our sister NGO Parinaam, for select customers.\r
Loan Purpose
| Any purpose | |
| Income generation | |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | x |
| Other household finance | |
| Other | Can only be used for education |
| Other (2) | |
Included Services
| Credit education | x |
| Group meetings | x |
| Credit insurance | |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | Financial Literacy |
| Other (2) | Scholarships given by Parinaam Foundation to deserving students |
| 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 | |
| Other (2) | |
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 3,000 |
| Maximum loan size | 10,000 |
Loan Term and Grace Period
| Shortest loan term | 12.0 months |
| Longest loan term | 12.0 months |
| Approx average | 12.0 months |
Distribution at Disbursement (Est.)
| Loans 3 months or less | N/A |
| Between 4 and 6 months | N/A |
| Between 7 and 9 months | N/A |
| Between 10 and 12 months | N/A |
| Between 13 and 18 months | N/A |
| Longer than 18 months | N/A |
Grace Period
| Grace period usage | 0 |
| Average grace period | 0 |
Repayment Frequency
| Daily | |
| Weekly | x |
| 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 | 23.00% |
| Highest quoted nominal interest | 23.00% |
| Interest rate period | Yearly |
| 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 | 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 | |
| Appears on Repayment Sched? | Yes |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 |
|---|
| Description | A premium of Rs. 20 / 40 provides a life term cover of Rs. 6,000 / 12,000 to the customer for a period of 1-year |
| % of loan amount - min | 0 |
| % of loan amount - max | 0 |
| OR, Fixed amount - min | 20 |
| Fixed amount - max | 40 |
| Reason for variation | |
| Appears on Repayment Sched? | No |
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? | No |
Additional Comments
The interest paid on the education loan is refunded to the customer at the end of the loan tenor by our sister NGO, Parinaam for select customers.\r
Full Pricing Data
Education Loan samples
| Sample 1 |
|---|
| Loan Amount | INR 6,000 |
| Loan Cycle (1, 2, 3, etc) | Not Known |
| Disbursement Date | 2011-06-07 |
| Loan Term (Months) | 12.0 months |
| Grace Period (Months) | 0 |
| Total Cost of Credit | Not Known |
| True Price by Comp | |
| Interest and Fee Component | 24.1% |
| Insurance Component | 0.6% |
| Tax Component | 0 |
| Deposit Component | 0 |
| Full APR (int fee ins tax dep) | 24.8% |
| MFIN MFI Earning (Annualised) | 24.1% |
| MFIN Cost to Borrower (Annualised) | 24.8% |
| Transparency Index | 93 |
| MFIN Transparency Index | N/A |
| | |
| Original Repayment Schedule | PDF |
| MFT Pricing Calculation | PDF |
* The APR stated here is an MFTransparency term, definition and formula
Education Loan Price Graphs
