Please note that the information you are viewing is
170 months old and may not represent the prices currently charged.
If you represent this MFI and wish to update your information,
click HERE
Institution
Data approved: 2010-11-15
Data version: 1
Age of data: 170 months
| Institution Type | Non-Governmental Organization |
| Is this institution regulated? | No |
| Website address | N/A |
| Year established | 2001 |
| Head of Institution | M.Ernest Paul |
| Regions active | |
| # Branches | 41 |
| Total Portfolio (nat'l) | INR 668,968,774 |
| Total Portfolio (USD) | USD 12,622,052.34 |
| Active clients with loans | 90,929 |
| Approximate % female clients | 80% - 100% |
| Approximate % urban clients | 80% - 100% |
| Network affiliations | |
89,438 Borrowers
USD 11,528,500 Portfolio
Active Product
1,491 Borrowers
USD 518,326.42 Portfolio
Active Product
Loan Products » Conditions
| Product Name |
|
Loan Size Range |
|
Loan Term (months) |
|
% Female |
|
% Urban |
|
Loan Purpose |
|
Eligibility |
|
Other Services |
| General Loan |
|
INR 8,000 - 22,000 |
|
12 |
|
80% - 100% |
|
80% - 100% |
|
Business |
|
Women |
|
Credit Educ, Group Mtgs, Credit Ins |
| Micro Enterprise Development Loan |
|
INR 25,000 - 50,000 |
|
12 |
|
80% - 100% |
|
80% - 100% |
|
Business |
|
Women |
|
Credit Educ, Group Mtgs, Credit Ins |
Loan Products » MFIN India Additional Information
| Product Name |
|
APR (int) |
|
MFIN MFI Earning (Annualised) |
|
MFIN Cost to Borrower (Annualised) |
|
COMPLIANCE WITH RBI GUIDELINES ON INTEREST METHOD |
|
COMPLIANCE WITH RBI GUIDELINES ON PROCESSING FEES |
|
COMPLIANCE WITH RBI GUIDELINES ON INSURANCE PREMIUM |
|
MFIN Transparency Index |
| General Loan |
|
0% |
|
26.2% - 27.7% |
|
28.3% - 32.2% |
|
|
|
|
|
|
|
N/A |
| Micro Enterprise Development Loan |
|
0% |
|
27.6% - 27.8% |
|
27.6% - 27.8% |
|
|
|
|
|
|
|
N/A |
Loan Products » Pricing Information
| Product Name |
|
Annual Nominal Interest |
|
Fees |
|
Insurance |
|
Taxes |
|
Compulsory Deposit |
|
APR (int+fee) |
|
Full APR |
|
Transparency Index |
| General Loan |
|
12.5% annual, Flat |
|
1 Fee |
|
1 Ins |
|
None |
|
N/A |
|
26.2% - 27.7% |
|
28.3% - 32.2% |
|
41 |
| Micro Enterprise Development Loan |
|
12.5% annual, Flat |
|
1 Fee |
|
1 Ins |
|
None |
|
N/A |
|
27.6% - 27.8% |
|
27.6% - 27.8% |
|
45 |
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
Data approved: 2011-12-07
Data version: 1
Age of data: - months
Key Statistics
| Outstanding portfolio (GHS) | GHS 60,183 |
| Portfolio (USD) | USD 40,122 |
| Active Clients with Loans | 59 |
| Approximate % Female Clients | 20% - 40% |
| Approximate % Urban Clients | 0% - 20% |
Methodology
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other | |
Description
Simple repayment schedule\rNo collateral for some loans\rSalary loan\r
Loan Purpose
| Any purpose | x |
| Income generation | |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) | |
Included Services
| Credit education | x |
| Group meetings | |
| Credit insurance | x |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | |
| Other (2) | |
| No other services | |
Eligibility
| Men | x |
| Women | x |
| Must run a business | x |
| Must own a home or land | |
| Must be a salaried worker | x |
| Must be specific age group | |
| Other | |
| 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 | GHS |
| Minimum loan size | GHS 200 |
| Maximum loan size | 7,808 |
Loan Term and Grace Period
| Shortest loan term | 6.0 months |
| Longest loan term | 24.0 months |
| Approx average | 14.0 months |
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 | 100% |
| Average grace period | 1.0 month |
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 | 0 |
| Highest quoted nominal interest | 42.00% |
| 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 | | Fee 2 |
|---|
| Description | Processing fee | | Application fee |
| % of loan amount - min | 3.00% | | 0 |
| % of loan amount - max | 3.00% | | 0 |
| OR, Fixed amount - min | 0 | | 3 |
| Fixed amount - max | 0 | | 3 |
| Reason for variation | | | |
| Appears on Repayment Sched? | No | | No |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 |
|---|
| Description | Insurance 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 | |
| Appears on Repayment Sched? | No |
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | |
| Do borrowers control deposit in their group? | |
Deposit BEFORE or AT Disbursement
| % loan amount deposited | 10.00% - N/A |
| or, Fixed-amount deposited | 0 - N/A |
Deposits DURING period payments
| % loan amount deposited | 0 - N/A |
| or, Fixed-amount deposited | 0 - N/A |
| Conditions on access to deposit | End Term |
Interest Paid on Deposit
| Minimum interest rate paid | 0 |
| Maximum interest rate paid | 3.00% |
| Interest payment frequency | End Term |
Taxes
| Are taxes charged on this product? | No |
Additional Comments
Compulsory savings of up to 1Ghana Cedis, earn an interest rate of 3% at the end of the term\r
Full Pricing Data
Salary Loan samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 | | Sample 5 |
|---|
| Loan Amount | GHS 250 | | GHS 768.67 | | GHS 1,530.14 | | GHS 3,600 | | GHS 7,807.74 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2012-11-16 | | 2012-10-10 | | 2012-09-28 | | 2012-06-14 | | 2012-09-27 |
| Loan Term (Months) | 16.0 months | | 12.0 months | | 12.0 months | | 24.0 months | | 12.0 months |
| Grace Period (Months) | 0.0 months | | 0.0 months | | 0.0 months | | 0.0 months | | 0.0 months |
| Total Cost of Credit | Not Known | | Not Known | | Not Known | | Not Known | | Not Known |
| True Price by Comp | | | | | | | | | |
| Interest and Fee Component | 48.9% | | 49.1% | | 48.7% | | 45.5% | | 48.4% |
| Insurance Component | 1.7% | | 2.2% | | 2.2% | | 1.2% | | 2.2% |
| Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Deposit Component | 9.9% | | 10.2% | | 10.1% | | 8.3% | | 10.0% |
| Full APR (int fee ins tax dep) | 60.5% | | 61.5% | | 61.0% | | 54.9% | | 60.6% |
| Transparency Index | 0 | | 0 | | 0 | | 0 | | 0 |
| | | | | | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF | | PDF |
