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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
