Village Financial Services Private Limited - Pragati - MFTransparency.org Truth In Lending Tables

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Institution

Village Financial Services Private Limited Village TowerF-15, Geetanjali Park; 18/3A, Kumud Ghoshal RoadKolkata, West Bengal700057

Data approved: 2011-02-22

Data version: 1

Age of data: - months

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Product

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Product Details

Key Statistics

Outstanding portfolio (INR)	INR 1,148,342,288
Portfolio (USD)	USD 25,518,718
Active Clients with Loans	211,569
Approximate % Female Clients	80% - 100%
Approximate % Urban Clients	0% - 20%

Methodology

Individual
Solidarity group	x
Village banking
Self help group
Other

Description

Pragati is a general loan product charging 10% flat rate of interest annually. Upfront charge is 2.5 % of loan amount (Processing Fee -1% + Loan Risk Fee - 1.5%). Tenure is 52 weeks/12 months .\r

Loan Purpose

Any purpose	x
Income generation
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)

Included Services

Credit education
Group meetings	x
Credit insurance	x
Workplace visits
Business training
Other training	x
Other	Capacity Building Training
Other (2)
No other services

Eligibility

Men
Women	x
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
Other
Other (2)

# Borrowers by Product

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 5,000
Maximum loan size	25,000

Loan Term and Grace Period

Shortest loan term	11.0 months
Longest loan term	12.0 months
Approx average	11.5 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	2.0 months

Repayment Frequency

Daily
Weekly	x
Every 2 weeks
Every 4 weeks
Monthly
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest

Lowest quoted nominal interest	10.00%
Highest quoted nominal interest	10.00%
Interest rate period	Yearly
Interest Rate Calculation Method	Flat
Subsidized by funder request?	N/A
Is rate fixed for entire loan term	Yes

Upfront Fees

	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
Appears on Repayment Sched?	No

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

	Ins 1
Description	Loan Risk Fee (Insurance
% of loan amount - min	1.50%
% of loan amount - max	1.50%
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

Are taxes charged on this product?

Full Pricing Data

Pragati 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	2010-08-18	2010-08-28
Loan Term (Months)	10.5 months	10.5 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	29.7%	29.7%
Insurance Component	3.6%	3.6%
Tax Component	0.0%	0.0%
Deposit Component	0.0%	0.0%
Full APR (int fee ins tax dep)	33.3%	33.3%
MFIN MFI Earning (Annualised)	29.7%	29.7%
MFIN Cost to Borrower (Annualised)	33.3%	33.3%
Transparency Index	30	30
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

Pragati Price Graphs

Click to view Price Analysis Tool

Institution	# Borrowers	Portfolio (US$)	Products	Age of Data
AGFS	200	47,000	2	151
Ahantaman RB	23,800	9,896,000	4	133
APED	13,700	1,876,000	2	133
ASA Initiative	4,400	577,000	4	133
ASA-Ghana	71,600	18,385,000	2	133
ASPI	800	88,000	6	133
Atwima Kwanwoma	3,800	1,788,000	2	133
Baobab	5,100	967,000	2	133
BestFUND	13,000	4,172,000	3	133
Bonzali Rural	10,400	1,691,000	4	151
CashPhase	83	135,000	2	133
CASUD	1,100	524,000	1	133
CEDEF	500	54,000	4	133
CFF	100	13,000	1	133
CRAN	3,600	1,019,000	2	133
DQF	1,700	63,000	2	133
EASL	9,200	11,409,000	6	133
East Mamprusi	12,500	2,268,000	4	133
ELDA	0	0	0	133
EMPRETEC Ghana	200	56,000	2	133
FASL	13,500	14,047,000	8	133
Grameen Ghana	9,500	507,000	3	133
ID-Ghana	5,600	953,000	3	133
Innovative Finance	2,700	354,000	3	133
Kraban Support	7,700	781,000	5	151
KRB	4,000	6,350,000	3	133
Lower Pra RB	34,000	6,316,000	3	151
Maata-N-Tudu	12,000	941,000	4	133
Mail Finance	300	288,000	1	133
Markaz	0	0	0	133
Markaz Al Bishara	100	17,000	1	133
MicrofinPlus Gh	1,100	251,000	2	133
Nwabiagya RB	4,000	2,265,000	3	133
OISL	62,000	27,232,000	9	133
Pro Credit	0	0	0	133
Rich Step	100	101,000	1	133
SAT	147,600	29,359,000	4	133
Sekam Trust	600	137,000	2	133
Simli Pong	8,900	463,000	3	151
SS Ghana	200	35,000	1	133
TCCU	100	32,000	3	133
The Bridge	400	32,000	3	151
Union RB	3,800	2,361,000	4	133

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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Total Borrrowers of Samples


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