| Number borrowers | 11,223 |
| Loan Amount (range) | INR 5,000 - 5,000 |
| Loan Term (range) | 12.1 - 24.19 |
| Other Services (text summary) | Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Jagruthi- Client Education Series, Socio-Economic Development Workshop |
| Annual Interest & Method | 22.0% annual, Decl Bal |
| Fees | 1.00% upfront |
| Insurance | 26.00-77.00 upfront |
| Tax | 12.36% fees |
| Comp Dep | N/A |
| Range of pricing | |
| Interest Price Component | 21.8% - 34.0% |
| Fee Component | 1.1% - 11.6% |
| Insurance Component | 0 - 16.6% |
| Tax Component Range | 0.1% - 1.5% |
| Full APR (int fee ins tax dep) | 27.6% |
| Transparency Index (min/max) | 51 - 92 |
| Transparency Index (average) | 80 |
| 418 |
| KES 100,000 - 4,000,000,000 |
| 1 - 36 |
| Credit Ins |
| 18.0% annual, Decl Bal |
| 2.00%-3.00% upfront |
| 0.63% upfront |
| None |
| N/A |
| 13.4% - 37.3% |
| 0 - 11.0% |
| 0 - 2.3% |
| 0 |
| 21.7% - 26.5% |
| 37 - 83 |
| 77 |
| Outstanding portfolio (INR) | INR 49,330,183 |
| Portfolio (USD) | USD 930,758.17 |
| Active Clients with Loans | 11,223 |
| Approximate % Female Clients | 100% |
| Approximate % Urban Clients | 20% - 40% |
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | |
| Mortgage/housing | x |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | For taking water connection |
| Other (2) |
| Credit education | x |
| Group meetings | x |
| Credit insurance | x |
| Workplace visits | x |
| Business training | |
| Other training | |
| Other | Jagruthi- Client Education Series |
| Other (2) | Socio-Economic Development Workshop |
| No other services |
| Men | |
| Women | x |
| Must run a business | |
| Must own a home or land | x |
| Must be a salaried worker | |
| Must be specific age group | |
| Household income <60,000 INR | x |
| Household income <120,000 INR | x |
| Must live in rural area | |
| Must lives in urban area | |
| Other | |
| Other (2) |
| # Regions for this institution | 3 |
| # Regions for this product | 3 |
| Regions Active | Karnataka, Maharashtra, Tamil Nadu |
| Outstanding portfolio (KES) | KES 85,485,991 |
| Portfolio (USD) | USD 1,032,439.51 |
| Active Clients with Loans | 418 |
| Approximate % Female Clients | 20% - 40% |
| Approximate % Urban Clients | 0% - 20% |
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | x |
| Education | |
| Other household finance | |
| Other | Purchase of farm inputs and farm machinery. |
| Other (2) |
| Credit education | |
| Group meetings | |
| Credit insurance | x |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | |
| Other (2) | |
| No other services |
| Men | x |
| Women | x |
| Must run a business | |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | |
| Other | Must be in commercial farming for over a year |
| Other (2) | Active account with Equity |
| # Regions for this institution | 8 |
| # Regions for this product | 8 |
| Regions Active | Central, Coast, Eastern, Nairobi, North Eastern, Nyanza, Rift Valley, Western |
| Currency | INR |
| Minimum loan size | INR 5,000 |
| Maximum loan size | 5,000 |
| Loans less than INR 5,000 | 100% |
| INR 5,000-15,000 | 0 |
| INR 15,000-25,000 | 0 |
| INR 25,000-35,000 | 0 |
| INR 35,000-45,000 | 0 |
| Greater than INR 45,000 | 0 |
| Shortest loan term | 12.1 months |
| Longest loan term | 24.2 months |
| Approx average | 12.1 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 0 |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 0 |
| Between 13 and 18 months | 100% |
| Longer than 18 months | 0 |
| Grace period usage | 100% |
| Average grace period | 0.2 months |
| Daily | |
| Weekly | x |
| Every 2 weeks | x |
| Every 4 weeks | x |
| Monthly | |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments |
| Currency | KES |
| Minimum loan size | KES 100,000 |
| Maximum loan size | 4,000,000,000 |
| Loans less than KES 50,000 | 0 |
| KES 50,000-150,000 | 5% |
| KES 150,000-250,000 | 30% |
| KES 250,000-350,000 | 40% |
| KES 350,000-450,000 | 20% |
| Greater than KES 450,000 | 20% |
| Shortest loan term | 1.0 month |
| Longest loan term | 36.0 months |
| Approx average | 18.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 10% |
| Between 7 and 9 months | 20% |
| Between 10 and 12 months | 20% |
| Between 13 and 18 months | 20% |
| Longer than 18 months | 30% |
| Grace period usage | 0 |
| Average grace period | 0 |
| 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 |
| Lowest quoted nominal interest | 22.00% |
| Highest quoted nominal interest | 22.00% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| 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 | N/A |
| Appears on Repayment Sched? | Yes |
| Ins 1 | |
|---|---|
| Description | Insurance Fees |
| % of loan amount - min | 0 |
| % of loan amount - max | 0 |
| OR, Fixed amount - min | 26 |
| Fixed amount - max | 77 |
| Reason for variation | Premium For Member (In case the member has no spouse or if spouse is not eligible for coverage, only member should be covered under the scheme)-Rs 26, Premium for member and spouse-Rs 77 |
| Appears on Repayment Sched? | Yes |
| Required for | Never |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | N/A |
| Do borrowers control deposit in their group? | N/A |
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| Conditions on access to deposit | N/A |
| Minimum interest rate paid | N/A |
| Maximum interest rate paid | N/A |
| Interest payment frequency | N/A |
| Are taxes charged on this product? | Yes |
| Percentage of fees | 12.4% |
| All or some fees taxed | Some |
| Lowest quoted nominal interest | 1.50% |
| Highest quoted nominal interest | 1.50% |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | LACE (Loan Application & Credit Evaluation) Fee |
| % of loan amount - min | 2.00% |
| % of loan amount - max | 3.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | 3% for 1st cycle, 2% for multiple cycle loans |
| Appears on Repayment Sched? | Yes |
| Ins 1 | |
|---|---|
| Description | Annual Insurance Fee |
| % of loan amount - min | 0.63% |
| % of loan amount - max | 0.63% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | 0.625% per annum. |
| Appears on Repayment Sched? | No |
| Required for | Never |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | N/A |
| Do borrowers control deposit in their group? | N/A |
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| Conditions on access to deposit | N/A |
| Minimum interest rate paid | N/A |
| Maximum interest rate paid | N/A |
| Interest payment frequency | N/A |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | INR 5,000 | INR 5,000 | INR 5,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2013-04-19 | 2013-04-19 | 2013-04-25 | ||
| Loan Term (Months) | 12.0 months | 12.0 months | 12.0 months | ||
| Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | ||
| Total Cost of Credit | INR 722.18 | INR 722.18 | INR 722.18 | ||
| True Price by Comp | |||||
| Interest price component | 22.1% | 22.1% | 22.1% | ||
| Fee Component | 2.1% | 2.1% | 2.1% | ||
| Insurance Component | 3.2% | 3.2% | 3.2% | ||
| Tax Component | 0.2% | 0.2% | 0.2% | ||
| Deposit Component | 0.0% | 0.0% | 0.0% | ||
| Full APR (int fee ins tax dep) | 27.6% | 27.6% | 27.6% | ||
| MFIN MFI Earning (Annualised) | 24.2% | 24.2% | 24.2% | ||
| MFIN Cost to Borrower (Annualised) | 27.6% | 27.6% | 27.6% | ||
| Transparency Index | 80 | 80 | 80 | ||
| MFIN Transparency Index | 100 | 100 | 100 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | |||||
|---|---|---|---|---|---|---|---|---|---|
| Loan Amount | KES 100,000 | KES 180,000 | KES 300,000 | KES 400,000 | KES 500,000 | ||||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | ||||
| Disbursement Date | 2013-05-30 | 2013-05-29 | 2013-05-15 | 2013-05-17 | 2013-05-16 | ||||
| Loan Term (Months) | 4.9 months | 12.0 months | 37.0 months | 36.0 months | 37.0 months | ||||
| Grace Period (Months) | -0.1 months | -0.1 months | 0.0 months | -0.2 months | 0.0 months | ||||
| Total Cost of Credit | KES 10,699.38 | KES 24,351.19 | KES 109,241.38 | KES 142,970.67 | KES 181,590.01 | ||||
| True Price by Comp | |||||||||
| Interest price component | 19.7% | 19.8% | 19.8% | 19.8% | 19.8% | ||||
| Fee Component | 5.2% | 3.9% | 1.5% | 1.5% | 1.5% | ||||
| Insurance Component | 1.6% | 1.2% | 0.4% | 0.5% | 0.4% | ||||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||||
| Deposit Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||||
| Full APR (int fee ins tax dep) | 26.5% | 24.9% | 21.7% | 21.8% | 21.7% | ||||
| Transparency Index | 68 | 72 | 83 | 83 | 83 | ||||
| Original Repayment Schedule | |||||||||
| MFT Pricing Calculation |
| 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 |
| Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
|---|---|---|---|---|---|---|---|
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