2. Jamii Bora
Please note that the information you are viewing is 141 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE
  2. Spandana
Please note that the information you are viewing is 139 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Jamii Bora P.O. Box 22741-00400Nairobi
Data approved: 2013-07-02
Data version: 2
Age of data: 141 months
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Institution

Spandana Sphoorty Financial Limited Plot No 79, Care Crystal,Vinayak Nagar, GachibowliHyderabad, Andhra Pradesh500032
Data approved: 2013-05-02
Data version: 3
Age of data: 139 months
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Product

Daraja Individual Product 1 of 8 « Prev | Next »

Product

Pragathi Product 3 of 3 « Prev | Next »

Product Summary

Number borrowers1,004
Loan Amount (range)KES 100,001 - 500,000
Loan Term (range)6 - 24
Other Services (text summary)Credit Educ, Credit Ins, Business Training
Annual Interest & Method20.0% annual, Flat
Fees1.00% upfront
Insurance1.00% upfront
TaxNone
Comp Dep20.0% upfront
Range of pricing 
Interest Price Component34.1% - 40.5%
Fee Component1.0% - 3.5%
Insurance Component1.1% - 3.6%
Tax Component Range0
Full APR (int fee ins tax dep)52.1% - 52.2%
Transparency Index (min/max)25 - 38
Transparency Index (average)38

Product Summary

355,279
INR 15,000 - 50,000
18 - 24
Credit Educ, Group Mtgs, Group Solidarity Training
26.0% annual, Decl Bal
0.98% upfront
1.00%-1.50% upfront
12.36% fees
N/A
 
24.8% - 26.1%
2.0% - 4.1%
2.1% - 2.2%
0.3% - 0.5%
30.5%
78 - 85
85

Product Details

Key Statistics
Outstanding portfolio (KES)KES 207,665,000
Portfolio (USD)USD 2,508,031.40
Active Clients with Loans1,004
Approximate % Female Clients40% - 60%
Approximate % Urban Clients40% - 60%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
A successful Micro Individual borrower with a well-performing business can graduate to this loan to access larger capital.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit educationx
Group meetings
Credit insurancex
Workplace visits
Business trainingx
Other training
Other
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a businessx
Must own a home or land
Must be a salaried worker
Must be specific age group
OtherMust have taken at least 3 Micro Individual loans with a perfect repayment rate.
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution7
# Regions for this product7
Regions ActiveCentral, Coast, Eastern, Nairobi, Nyanza, Rift Valley, Western

Product Details

Key Statistics
Outstanding portfolio (INR)INR 5,485,513,129
Portfolio (USD)USD 103,500,247.70
Active Clients with Loans355,279
Approximate % Female Clients80% - 100%
Approximate % Urban Clients0% - 20%
Methodology
Individual
Solidarity groupx
Village banking
Self help group
Other
Description
Pragathi stands for Progress. This product is offered to those customers who are slightly higher economic well-being or have stable monthly cash-flows.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit educationx
Group meetingsx
Credit insurance
Workplace visits
Business training
Other training
OtherGroup Solidarity Training
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
OtherSelf-employed.
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution10
# Regions for this product6
Regions ActiveAndhra Pradesh, Chhattisgarh, Karnataka, Maharashtra, Orissa, Tamil Nadu

Loan Conditions

Loan Amount
CurrencyKES
Minimum loan sizeKES 100,001
Maximum loan size500,000
Distribution at Disbursement (Est.)
Loans less than KES 50,0000
KES 50,000-150,0000
KES 150,000-250,00060%
KES 250,000-350,00030%
KES 350,000-450,0005%
Greater than KES 450,0005%
Loan Term and Grace Period
Shortest loan term6.0 months
Longest loan term24.0 months
Approx average9.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months0
Between 7 and 9 months0
Between 10 and 12 months0
Between 13 and 18 months0
Longer than 18 months100%
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

Loan Conditions

Loan Amount
CurrencyINR
Minimum loan sizeINR 15,000
Maximum loan size50,000
Distribution at Disbursement (Est.)
Loans less than INR 5,0000
INR 5,000-15,0000
INR 15,000-25,00020%
INR 25,000-35,00030%
INR 35,000-45,00030%
Greater than INR 45,00030%
Loan Term and Grace Period
Shortest loan term18.0 months
Longest loan term24.0 months
Approx average18.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months0
Between 7 and 9 months0
Between 10 and 12 months0
Between 13 and 18 months40%
Longer than 18 months60%
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 interest20.00%
Highest quoted nominal interest20.00%
Interest rate periodYearly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionChattels 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
DescriptionCredit/Life Insurance 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 forAll
CriteriaN/A
Is deposit indicated on the repayment schedule?Yes
Do borrowers control deposit in their group?Yes
Deposit BEFORE or AT Disbursement
% loan amount deposited20.00%
or, Fixed-amount deposited0
Deposits DURING period payments
% loan amount deposited0
or, Fixed-amount deposited0
Conditions on access to depositEnd Term
Interest Paid on Deposit
Minimum interest rate paid0
Maximum interest rate paid0
Interest payment frequencyN/A
Taxes
Are taxes charged on this product?No

Pricing Information

Interest
Lowest quoted nominal interest26.00%
Highest quoted nominal interest26.00%
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 - min0.98%
% of loan amount - max0.98%
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
Ins 1
DescriptionInsurance Premium
% of loan amount - min1.00%
% of loan amount - max1.50%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variation1% for 1 year loan & 1.5% for > 1year loan.
Appears on Repayment Sched?Yes
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

Full Pricing Data

Daraja Individual samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountKES 105,000KES 200,000KES 300,000KES 500,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot Known
Disbursement Date2013-07-312013-08-022013-07-302013-08-23
Loan Term (Months)24.0 months24.0 months24.0 months24.0 months
Grace Period (Months)0.0 months0.0 months0.0 months0.0 months
Total Cost of CreditKES 44,100KES 84,000KES 126,000KES 210,000
True Price by Comp       
Interest price component34.2%34.2%34.1%34.2%
Fee Component1.0%1.0%1.1%1.0%
Insurance Component1.1%1.1%1.1%1.1%
Tax Component0.0%0.0%0.0%0.0%
Deposit Component15.9%15.9%15.8%15.9%
Full APR (int fee ins tax dep)52.2%52.2%52.1%52.2%
Transparency Index38383838
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF

Full Pricing Data

Pragathi samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountINR 20,000INR 20,000INR 20,000INR 20,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot Known
Disbursement Date2013-03-202013-03-202013-03-202013-03-20
Loan Term (Months)12.0 months12.0 months12.0 months12.0 months
Grace Period (Months)-0.4 months-0.4 months-0.4 months-0.4 months
Total Cost of CreditINR 3,173.94INR 3,173.94INR 3,173.94INR 3,173.94
True Price by Comp       
Interest price component26.1%26.1%26.1%26.1%
Fee Component2.0%2.0%2.0%2.0%
Insurance Component2.1%2.1%2.1%2.1%
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)30.5%30.5%30.5%30.5%
MFIN MFI Earning (Annualised)28.1%28.1%28.1%28.1%
MFIN Cost to Borrower (Annualised)30.5%30.5%30.5%30.5%
Transparency Index85858585
MFIN Transparency Index100100100100
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF
* The APR stated here is an MFTransparency term, definition and formula
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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
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Country InstAbbrev SampleCode Loan Amount USD Loan Term (Months) SampClients FullAPR DateApproved
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