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Institution
Data approved: 2013-01-09
Data version: 3
Age of data: 142 months
Key Statistics
| Outstanding portfolio (INR) | INR 82,438,458 |
| Portfolio (USD) | USD 1,555,442.60 |
| Active Clients with Loans | 3,843 |
| Approximate % Female Clients | 100% |
| Approximate % Urban Clients | 0 |
Methodology
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other | |
Description
Sonata provide Individual Loan for income generation to our ex-client of IGL who have more than 24 month clientage. Repayment is fortnightly. Sonata also provides penalty free per-settlement facility to its clients.
Loan Purpose
| Any purpose | |
| Income generation | x |
| 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 | |
| Women | x |
| Must run a business | x |
| 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 | 2 |
| # Regions for this product | 2 |
| Regions Active | Madhya Pradesh, Uttar Pradesh |
Loan Conditions
Loan Amount
| Currency | INR |
| Minimum loan size | INR 20,000 |
| Maximum loan size | 50,000 |
Distribution at Disbursement (Est.)
| Loans less than INR 5,000 | 0 |
| INR 5,000-15,000 | 0 |
| INR 15,000-25,000 | 30% |
| INR 25,000-35,000 | 40% |
| INR 35,000-45,000 | 20% |
| Greater than INR 45,000 | 20% |
Loan Term and Grace Period
| Shortest loan term | 12.0 months |
| Longest loan term | 24.0 months |
| Approx average | 18.0 months |
Distribution at Disbursement (Est.)
| 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 | 10% |
| Longer than 18 months | 90% |
Grace Period
| Grace period usage | 0 |
| Average grace period | 0 |
Repayment Frequency
| Daily | |
| Weekly | |
| Every 2 weeks | x |
| 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 | 26.00% |
| Highest quoted nominal interest | 26.00% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 |
|---|
| Description | Processing Fee |
| % of loan amount - min | 0 |
| % of loan amount - max | 0 |
| OR, Fixed amount - min | 200 |
| Fixed amount - max | 400 |
| Reason for variation | Processing fee varies with the loan size |
| Appears on Repayment Sched? | Yes |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 |
|---|
| Description | Insurance Fee |
| % of loan amount - min | 0 |
| % of loan amount - max | 0 |
| OR, Fixed amount - min | 200 |
| Fixed amount - max | 400 |
| Reason for variation | Insurance premium amount varies with the loan size |
| Appears on Repayment Sched? | Yes |
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
Sonata provide per-settlement facility without any penalties.
Full Pricing Data
Individual Loan samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 |
|---|
| Loan Amount | INR 22,380 | | INR 26,100 | | INR 31,700 | | INR 41,020 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2013-02-10 | | 2013-02-04 | | 2013-02-02 | | 2013-03-10 |
| Loan Term (Months) | 24.0 months | | 24.0 months | | 25.0 months | | 24.0 months |
| Grace Period (Months) | -0.1 months | | 0.1 months | | 0.2 months | | -0.1 months |
| Total Cost of Credit | INR 6,819.98 | | INR 7,989.98 | | INR 9,679.97 | | INR 12,539.96 |
| True Price by Comp | | | | | | | |
| Interest price component | 26.1% | | 25.7% | | 25.6% | | 26.0% |
| Fee Component | 0.9% | | 0.9% | | 0.9% | | 0.9% |
| Insurance Component | 1.0% | | 1.0% | | 0.9% | | 1.0% |
| Tax Component | 0.1% | | 0.2% | | 0.1% | | 0.1% |
| Deposit Component | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Full APR (int fee ins tax dep) | 28.1% | | 27.8% | | 27.5% | | 28.0% |
| MFIN MFI Earning (Annualised) | 27.0% | | 26.6% | | 26.5% | | 26.9% |
| MFIN Cost to Borrower (Annualised) | 28.1% | | 27.8% | | 27.5% | | 28.0% |
| Transparency Index | 92 | | 94 | | 94 | | 93 |
| MFIN Transparency Index | 100 | | 100 | | 100 | | 100 |
| | | | | | | | |
| 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
Individual Loan Price Graphs
