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Institution
Data approved: 2011-10-14
Data version: 2
Age of data: - months
Key Statistics
Outstanding portfolio (INR) | INR 400,134,104 |
Portfolio (USD) | USD 8,891,869 |
Active Clients with Loans | 51,110 |
Approximate % Female Clients | 80% - 100% |
Approximate % Urban Clients | 80% - 100% |
Methodology
Individual | |
Solidarity group | x |
Village banking | |
Self help group | |
Other | |
Description
Swahit is an individual loan offered to women in groups. Evaluations are conducted individually and loans are cross-guaranteed by the group. The product allows flexibility by means of prepayments, part payments and door step collections.
Loan Purpose
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | Investment in own business/business run by family |
Other (2) | Setup and development of a new business. |
Included Services
Credit education | x |
Group meetings | |
Credit insurance | x |
Workplace visits | |
Business training | |
Other training | |
Other | |
Other (2) | |
No other services | |
Eligibility
Men | |
Women | x |
Must run a business | x |
Must own a home or land | |
Must be a salaried worker | x |
Must be specific age group | x |
Household income <60,000 INR | |
Household income <120,000 INR | |
Must live in rural area | |
Must lives in urban area | |
Other | Micro-entrepreneurs, salaried or commission-based workers |
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 6,000 |
Maximum loan size | 26,000 |
Loan Term and Grace Period
Shortest loan term | 12.0 months |
Longest loan term | 24.0 months |
Approx average | 0 |
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 | |
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 | 26.00% |
Highest quoted nominal interest | 26.00% |
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 Fees: 1.1% of loan amount(including service tax, which is 0.1% of loan amount) |
% of loan amount - min | 1.10% |
% of loan amount - max | 1.10% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | |
Appears on Repayment Sched? | No |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 |
---|
Description | Insurance Fee: 4.37 per Rs. 1000 per year (no admin charges) |
% of loan amount - min | 0.44% |
% of loan amount - max | 0.44% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
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
FEES: At the time of disbursement we collect:\rProcessing Fee: 1% of loan amount (excluding service tax)\r\rInsurance Fee: 4.37 per Rs. 1 per year (no admin charges)\r\rINSTALLMENT SCHEDULE: Processing Fees and Insurance Fees are not included in the repayment schedule as it is a system generated schedule. Details for these fees are included in the receipts given to the client at the time of disbursement.
Full Pricing Data
Swahit - Individual Loan with Joint Liability samples
| Sample 1 | | Sample 2 |
---|
Loan Amount | INR 10,000 | | INR 20,000 |
Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known |
Disbursement Date | 2011-05-30 | | 2011-05-30 |
Loan Term (Months) | 12.0 months | | 24.0 months |
Grace Period (Months) | 0.0 months | | 0.0 months |
Total Cost of Credit | Not Known | | Not Known |
True Price by Comp | | | |
Interest and Fee Component | 27.9% | | 27.0% |
Insurance Component | 0.8% | | 0.9% |
Tax Component | 0.2% | | 0.1% |
Deposit Component | 0.0% | | 0.0% |
Full APR (int fee ins tax dep) | 28.9% | | 28.0% |
MFIN MFI Earning (Annualised) | 27.9% | | 27.0% |
MFIN Cost to Borrower (Annualised) | 28.9% | | 28.0% |
Transparency Index | 90 | | 93 |
MFIN Transparency Index | N/A | | N/A |
| | | |
Original Repayment Schedule | PDF | | PDF |
MFT Pricing Calculation | PDF | | PDF |
* The APR stated here is an MFTransparency term, definition and formula
Swahit - Individual Loan with Joint Liability Price Graphs