ASA Initiative FNGO - Pro-Poor Loan - MFTransparency.org Truth In Lending Tables

Please note that the information you are viewing is 141 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Please note that the information you are viewing is 140 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

ASA Initiative FNGO Head OfficeCape Coast, CentralP.O. Box 396

Data approved: 2013-02-20

Data version: 2

Age of data: 141 months

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Institution

Singhivi Investment & Finance Pvt. Ltd. 4th Floor, Temple Tower, 672 Anna Salai, NandanamChennai, Tamil Nadu600035

Data approved: 2013-02-20

Data version: 3

Age of data: 140 months

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Product

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Product

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Product Summary

45,000
INR 12,000 - 18,000
18 - 24
Credit Educ, Group Mtgs, Credit Ins
25.5% annual, Decl Bal
1.00% upfront
1.46% upfront
12.36% fees
N/A

24.4% - 25.4%
1.0% - 2.1%
1.5% - 2.2%
0.1% - 0.3%
27.6% - 28.2%
87 - 92
91

Product Details

This product either has less than 50 active borrowers or less than 10 loan disbursements over the past 9 months. MFTransparency presents basic data rather than full data for low volume products

Key Statistics

Outstanding portfolio (GHS)	GHS 3,900
Portfolio (USD)	USD 1,979.70
Active Clients with Loans	27
Approximate % Female Clients	20% - 40%
Approximate % Urban Clients	0

Description

Designed to support income-generating activities of poor households in rural communities.

Loan Purpose

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

Eligibility

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	x
Other
Other (2)

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

# Regions for this institution	1
# Regions for this product	N/A
Regions Active

Product Details

Key Statistics

Outstanding portfolio (INR)	INR 550,000,000
Portfolio (USD)	USD 10,377,358.49
Active Clients with Loans	45,000
Approximate % Female Clients	80% - 100%
Approximate % Urban Clients	80% - 100%

Methodology

Individual
Solidarity group	x
Village banking
Self help group
Other

Description

Primary microcredit loan given under the JLG model for the purpose of capital infusion into members for existing business

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	x
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	x
Household income <120,000 INR	x
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	2
# Regions for this product	2
Regions Active	Tamil Nadu, Puducherry

Loan Conditions

Loan Amount

Currency	INR
Minimum loan size	INR 12,000
Maximum loan size	18,000

Distribution at Disbursement (Est.)

Loans less than INR 5,000	0
INR 5,000-15,000	50%
INR 15,000-25,000	50%
INR 25,000-35,000	0
INR 35,000-45,000	0
Greater than INR 45,000	0

Loan Term and Grace Period

Shortest loan term	18.0 months
Longest loan term	24.0 months
Approx average	24.0 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	100%
Average grace period	DK

Repayment Frequency

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

Pricing Information

Interest

Lowest quoted nominal interest	25.50%
Highest quoted nominal interest	25.50%
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	1.00%
% of loan amount - max	1.00%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	N/A
Appears on Repayment Sched?	Yes

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

	Ins 1
Description	Term Life Insurance
% of loan amount - min	1.46%
% of loan amount - max	1.46%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	N/A
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?	Yes
Percentage of fees	12.4%
All or some fees taxed	Some

Full Pricing Data

Third Cycle Loan samples

	Sample 1	Sample 2	Sample 3
Loan Amount	INR 18,000	INR 18,000	INR 18,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known
Disbursement Date	2013-02-28	2013-02-28	2013-02-28
Loan Term (Months)	24.0 months	24.0 months	24.0 months
Grace Period (Months)	0.0 months	0.0 months	0.2 months
Total Cost of Credit	INR 5,488.25	INR 5,601.25	INR 5,601.25
True Price by Comp
Interest price component	25.4%	25.3%	24.9%
Fee Component	1.1%	1.0%	1.1%
Insurance Component	1.6%	1.6%	1.5%
Tax Component	0.1%	0.1%	0.1%
Deposit Component	0.0%	0.0%	0.0%
Full APR (int fee ins tax dep)	28.2%	28.0%	27.6%
MFIN MFI Earning (Annualised)	26.5%	26.3%	26.0%
MFIN Cost to Borrower (Annualised)	28.2%	28.0%	27.6%
Transparency Index	90	91	92
MFIN Transparency Index	100	100	100

Original Repayment Schedule	PDF	PDF	PDF
MFT Pricing Calculation	PDF	PDF	PDF

* The APR stated here is an MFTransparency term, definition and formula

Third Cycle Loan Price Graphs

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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

	X Axis
	Greater than:
	Less or equal to:
N (# of Samples)
Total Borrrowers of Samples


Avg
Min
Max
Std Dev

By Inst Type


By Country

	X Axis
	Greater than:
	Less or equal to:
	From 0 to
	to
	to
	to ∞

Institution

Institution

Product

Product

Product Summary

Product Details

Key Statistics

Description

Loan Purpose

Eligibility

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

Product Details

Key Statistics

Methodology

Description

Loan Purpose

Included Services

Eligibility

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

Loan Conditions

Loan Amount

Distribution at Disbursement (Est.)

Loan Term and Grace Period

Distribution at Disbursement (Est.)

Grace Period

Repayment Frequency

Pricing Information

Interest

Upfront Fees

Ongoing Fees

Upfront Insurance Fees

Ongoing Insurance Fees

Compulsory Deposit

Deposit BEFORE or AT Disbursement

Deposits DURING period payments

Interest Paid on Deposit

Taxes

Full Pricing Data

Third Cycle Loan samples

Third Cycle Loan Price Graphs

Total Borrowers of Samples

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