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Institution
Data approved: 2010-10-25
Data version: 1
Age of data: - months
Key Statistics
| Outstanding portfolio (INR) | INR 830,404,432 |
| Portfolio (USD) | USD 18,453,432 |
| Active Clients with Loans | 164,135 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 80% - 100% |
Methodology
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other | |
Description
Saral loan- WB, is provided to economically active women residing in slums/low income areas, generally involved in trade & services.Loans range between Rs.5,000 to Rs. 17,500. \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 | x |
| Credit insurance | x |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | |
| 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) | |
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 | 17,500 |
Loan Term and Grace Period
| Shortest loan term | 13.3 months |
| Longest loan term | 13.3 months |
| Approx average | 13.3 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 | 0 |
| Average grace period | 0 |
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 | 24.13% |
| Highest quoted nominal interest | 24.13% |
| 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
This product has no upfront feesOngoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 |
|---|
| Description | Loan Processing Fees (includes insurance) |
| % of loan amount - min | 2.00% |
| % of loan amount - max | 2.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | |
| Appears on Repayment Sched? | |
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
Free life insurance (Rs. 2,) to clients and accident insurance cover to clients and spouse (Rs. 25, each) is provided. The premium of Rs. 64.4 is paid by Arohan to the insurance companies. We will add Rs. 64.4 to the "insurance paid" field and deduct Rs. 64.4 from the total fees paid field.
Full Pricing Data
Saral Product- WB samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 |
|---|
| Loan Amount | INR 5,000 | | INR 7,500 | | INR 10,000 | | INR 12,500 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2010-07-02 | | 2010-07-02 | | 2010-07-02 | | 2010-07-29 |
| Loan Term (Months) | 13.3 months | | 13.3 months | | 13.3 months | | 13.3 months |
| Grace Period (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 |
| True Price by Comp | | | | | | | |
| Interest and Fee Component | 25.5% | | 26.3% | | 26.7% | | 27.0% |
| Insurance Component | 2.5% | | 1.7% | | 1.2% | | 1.0% |
| Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Deposit Component | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Full APR (int fee ins tax dep) | 28.0% | | 28.0% | | 28.0% | | 28.0% |
| MFIN MFI Earning (Annualised) | 25.5% | | 26.3% | | 26.7% | | 27.0% |
| MFIN Cost to Borrower (Annualised) | 28.0% | | 28.0% | | 28.0% | | 28.0% |
| Transparency Index | 86 | | 86 | | 86 | | 86 |
| MFIN Transparency Index | N/A | | N/A | | N/A | | N/A |
| | | | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF |
* The APR stated here is an MFTransparency term, definition and formula
Saral Product- WB Price Graphs
