| Outstanding portfolio (GHS) | GHS 72,000 |
| Portfolio (USD) | USD 36,548.22 |
| Active Clients with Loans | 300 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 40% - 60% |
| Individual | x |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) |
| Credit education | x |
| Group meetings | x |
| Credit insurance | |
| Workplace visits | |
| Business training | x |
| Other training | |
| Other | |
| Other (2) | |
| No other services |
| Men | x |
| Women | x |
| Must run a business | x |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | |
| Other | |
| Other (2) |
| # Regions for this institution | 2 |
| # Regions for this product | 2 |
| Regions Active | Greater Accra Region, Volta Region |
| Currency | GHS |
| Minimum loan size | GHS 50 |
| Maximum loan size | 2,000 |
| Loans less than GHS 1,000 | 60% |
| GHS 1,000-5,000 | 40% |
| GHS 5,000-7,500 | 0 |
| GHS 7,500-10,000 | 0 |
| GHS 10,000-13,000 | 0 |
| Greater than GHS 13,000 | 0 |
| Shortest loan term | 3.0 months |
| Longest loan term | 12.0 months |
| Approx average | 7.5 months |
| Loans 3 months or less | 60% |
| Between 4 and 6 months | 30% |
| Between 7 and 9 months | 10% |
| Between 10 and 12 months | 0 |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
| Grace period usage | 100% |
| Average grace period | 0.1 months |
| 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 | x |
| Lowest quoted nominal interest | 4.00% |
| Highest quoted nominal interest | 4.00% |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | Processing Fee |
| % of loan amount - min | 4.00% |
| % of loan amount - max | 4.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | n/a |
| Appears on Repayment Sched? | Yes |
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | No |
| Do borrowers control deposit in their group? | No |
| % loan amount deposited | 20.00% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | Final Pmt |
| Minimum interest rate paid | 0 |
| Maximum interest rate paid | 0 |
| Interest payment frequency | N/A |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | GHS 300 | GHS 600 | GHS 1,400 | ||
| Loan Cycle (1, 2, 3, etc) | 1 | 2 | 2 | ||
| Disbursement Date | 2013-01-28 | 2012-12-26 | 2012-12-27 | ||
| Loan Term (Months) | 2.6 months | 2.6 months | 3.5 months | ||
| Grace Period (Months) | 0.2 months | 0.2 months | 0.2 months | ||
| Total Cost of Credit | GHS 48 | GHS 96 | GHS 280 | ||
| True Price by Comp | |||||
| Interest price component | 92.1% | 92.1% | 92.7% | ||
| Fee Component | 33.7% | 33.7% | 26.2% | ||
| Insurance Component | 0.0% | 0.0% | 0.0% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 57.8% | 57.8% | 55.7% | ||
| Full APR (int fee ins tax dep) | 183.6% | 183.6% | 174.6% | ||
| Transparency Index | 26 | 26 | 27 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| Institution Type | Non Bank Financial Institution |
| Is this institution regulated? | Yes |
| Website address | http://www.swadhaar.com/ |
| Year established | 2008 |
| Head of Institution | Veena Mankar |
| Regions active | Gujarat, Maharashtra |
| # Branches | 30 |
| Total Portfolio (nat'l) | INR 909,845,169 |
| Total Portfolio (USD) | USD 17,166,889.98 |
| Active clients with loans | 92,891 |
| Approximate % female clients | 80% - 100% |
| Approximate % urban clients | 100% |
| Network affiliations |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Swahit - Individual Loan with Joint Liability | INR 8,000 - 34,000 | 24 | 100% | 100% | Business | Women, Have business, Specific age group, Med HH Inc, Urban HH | Credit Educ, Credit Ins | |||||||
| Swayog - Individual Business Loan | INR 8,000 - 75,000 | 3 - 12 | 0% - 20% | 100% | Business | Women, Men, Have business, Specific age group, Urban HH, The client must be the owner of the business. | Credit Ins | |||||||
| Top Up Loan | INR 2,000 - 5,000 | 12 | 100% | 100% | Business | Women, Have business, Specific age group, Med HH Inc, Urban HH | Credit Ins |
| 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Swahit - Individual Loan with Joint Liability | 25.8% | 26.8% - 26.9% | 27.9% - 28% | Yes | Yes | Yes | 100 | |||||||
| Swayog - Individual Business Loan | 28.1% - 29.9% | 31.5% - 35% | 32.8% - 37% | Yes | Yes | Yes | 100 | |||||||
| Top Up Loan | 26% - 26.2% | 27.8% - 28.1% | 28.8% - 29.2% | Yes | Yes | Yes | 99 |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Swahit - Individual Loan with Joint Liability | 26.0% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 26.8% - 26.9% | 27.9% - 28% | 93 | ||||||||
| Swayog - Individual Business Loan | 30.0% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 31.5% - 35% | 32.8% - 37% | 85 | ||||||||
| Top Up Loan | 26.0% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 27.8% - 28.1% | 28.8% - 29.2% | 89 |
| Key Statistics | |
|---|---|
| # Samples: | |
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| # 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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