2. VFS
Please note that the information you are viewing is 132 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE
  2. FASL
Please note that the information you are viewing is 132 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Village Financial Services Private Limited Village TowerF-15, Geetanjali Park; 18/3A, Kumud Ghoshal RoadKolkata, West BengalPO Box 700057
Data approved: 2013-01-02
Data version: 2
Age of data: 132 months
Choose version

Institution

First Allied Savings and Loans Limited Box 5308OTB 662 Asomfo Road, AdumKumasi, Ashanti
Data approved: 2013-07-15
Data version: 1
Age of data: 132 months

Product

Pragati Product 1 of 2 « Prev | Next »

Product

Salary Loans Product 3 of 9 « Prev | Next »

Product Summary

Number borrowers168,352
Loan Amount (range)INR 4,000 - 15,000
Loan Term (range)11.5 - 12.1
Other Services (text summary)Group Mtgs, Credit Ins
Annual Interest & Method23.5% annual, Decl Bal
Fees1.00% upfront
Insurance1.00% upfront
Tax12.36% fees
Comp DepN/A
Range of pricing 
Interest Price Component22.6% - 26.1%
Fee Component1.0% - 2.2%
Insurance Component2.1% - 2.3%
Tax Component Range0.1% - 0.3%
Full APR (int fee ins tax dep)29.8% - 30.9%
Transparency Index (min/max)76 - 90
Transparency Index (average)76

Product Summary

889
GHS 200 - 50,000
1 - 36
Other Training
19.0%-28.0% annual, Flat
2.00% upfront
None
None
N/A
 
31.3% - 66.8%
1.5% - 10.9%
0
0
32.8% - 51.1%
27 - 76
46

Product Details

Key Statistics
Outstanding portfolio (INR)INR 928,371,699.30
Portfolio (USD)USD 17,516,447.16
Active Clients with Loans168,352
Approximate % Female Clients80% - 100%
Approximate % Urban Clients0% - 20%
Methodology
Individual
Solidarity groupx
Village banking
Self help group
Other
Description
Pragati is a general group loan product, targeted at women engaged in income generating activities. It charges 23.6% annual interest rate on declining balance. Repayments are weekly.
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 training
Other
Other (2)
No other services
Eligibility
Men
Womenx
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)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution2
# Regions for this product2
Regions ActiveBihar, West Bengal

Product Details

Key Statistics
Outstanding portfolio (GHS)GHS 599,243.77
Portfolio (USD)USD 304,184.65
Active Clients with Loans889
Approximate % Female Clients20% - 40%
Approximate % Urban Clients60% - 80%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
This facility is targeted towards employees who receive their salaries through First Allied. Beneficiaries can access substantial loan amounts with monthly repayments, done through deductions from their salaries.
Loan Purpose
Any purpose
Income generation
Mortgage/housing
Consumer loanx
Agriculture
Educationx
Other household financex
Other
Other (2)
Included Services
Credit education
Group meetings
Credit insurance
Workplace visits
Business training
Other trainingx
Other
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a business
Must own a home or land
Must be a salaried workerx
Must be specific age group
Other
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution6
# Regions for this product6
Regions ActiveGreater Accra Region, Central Region, Western Region, Eastern Region, Ashanti Region, Brong Ahafo Region

Loan Conditions

Loan Amount
CurrencyINR
Minimum loan sizeINR 4,000
Maximum loan size15,000
Distribution at Disbursement (Est.)
Loans less than INR 5,0000
INR 5,000-15,000100%
INR 15,000-25,0000
INR 25,000-35,0000
INR 35,000-45,0000
Greater than INR 45,0000
Loan Term and Grace Period
Shortest loan term11.5 months
Longest loan term12.1 months
Approx average12.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months0
Between 7 and 9 months0
Between 10 and 12 months100%
Between 13 and 18 months0
Longer than 18 months0
Grace Period
Grace period usage100%
Average grace period1.5 months
Repayment Frequency
Daily
Weeklyx
Every 2 weeks
Every 4 weeks
Monthly
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Loan Conditions

Loan Amount
CurrencyGHS
Minimum loan sizeGHS 200
Maximum loan size50,000
Distribution at Disbursement (Est.)
Loans less than GHS 1,00010%
GHS 1,000-5,00050%
GHS 5,000-7,50020%
GHS 7,500-10,0005%
GHS 10,000-13,0005%
Greater than GHS 13,0005%
Loan Term and Grace Period
Shortest loan term1.0 month
Longest loan term36.0 months
Approx average36.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less5%
Between 4 and 6 months5%
Between 7 and 9 months10%
Between 10 and 12 months40%
Between 13 and 18 months20%
Longer than 18 months20%
Grace Period
Grace period usage0
Average grace period0
Repayment Frequency
Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest
Lowest quoted nominal interest23.46%
Highest quoted nominal interest23.46%
Interest rate periodYearly
Interest Rate Calculation MethodDecl Bal
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionProcessing Fee
% of loan amount - min1.00%
% of loan amount - max1.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?No
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionInsurance Fee
% of loan amount - min1.00%
% of loan amount - max1.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?No
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?Yes
Percentage of fees12.4%
All or some fees taxedSome

Pricing Information

Interest
Lowest quoted nominal interest19.00%
Highest quoted nominal interest28.00%
Reason(s) why interest rate variesInterest varies based on loan duration
Interest rate periodYearly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionCommitment 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
This product has no upfront insurance fees
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

Full Pricing Data

Pragati samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountINR 5,000INR 5,000INR 10,000INR 11,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot Known
Disbursement Date2012-11-062012-11-162012-10-312012-11-02
Loan Term (Months)11.0 months11.0 months11.0 months11.0 months
Grace Period (Months)0.2 months0.2 months0.2 months0.2 months
Total Cost of CreditINR 731.18INR 731.18INR 1,462.36INR 1,608.60
True Price by Comp       
Interest price component25.1%26.1%26.1%26.1%
Fee Component2.2%2.2%2.2%2.2%
Insurance Component2.2%2.3%2.3%2.3%
Tax Component0.3%0.3%0.3%0.3%
Deposit Component0.0%0.0%0.0%0.0%
Full APR (int fee ins tax dep)29.8%30.9%30.9%30.9%
MFIN MFI Earning (Annualised)27.3%28.3%28.3%28.3%
MFIN Cost to Borrower (Annualised)29.8%30.9%30.9%30.9%
Transparency Index79767676
MFIN Transparency Index93909090
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF
* The APR stated here is an MFTransparency term, definition and formula

Full Pricing Data

Salary Loans samples
Sample 1Sample 2Sample 3Sample 4Sample 5Sample 6
Loan AmountGHS 350GHS 600GHS 1,500GHS 3,000GHS 8,500GHS 16,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot KnownNot KnownNot Known
Disbursement Date2013-04-192013-05-022013-05-142013-05-292013-04-102013-06-10
Loan Term (Months)12.0 months9.0 months12.0 months24.0 months25.0 months37.0 months
Grace Period (Months)0.0 months0.6 months0.0 months-0.4 months0.7 months0.2 months
Total Cost of CreditGHS 100.96GHS 124GHS 450GHS 1,308GHS 3,717.92GHS 9,412
True Price by Comp           
Interest price component45.4%40.8%47.1%36.8%33.5%31.3%
Fee Component4.0%4.9%4.0%2.3%2.1%1.5%
Insurance Component0.0%0.0%0.0%0.0%0.0%0.0%
Tax Component0.0%0.0%0.0%0.0%0.0%0.0%
Deposit Component0.0%0.0%0.0%0.0%0.0%0.0%
Full APR (int fee ins tax dep)49.4%45.7%51.1%39.1%35.6%32.8%
Transparency Index384237495358
            
Original Repayment SchedulePDFPDFPDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDFPDFPDF
Pragati Price Graphs


Click to view Price Analysis Tool
Salary Loans Price Graphs


Click to view Price Analysis Tool
Caps / Zoom options
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
Loading...
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

Total Borrowers of Samples

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