| Outstanding portfolio (GHS) | GHS 1,575,561 |
| Portfolio (USD) | USD 799,777.16 |
| Active Clients with Loans | 5,082 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 80% - 100% |
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | x |
| 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 | |
| Other training | |
| Other | Health and nutrition training |
| Other (2) | Clean up exercises (sanitation) |
| No other services |
| Men | |
| Women | x |
| Must run a business | x |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | |
| Other | Must be a group member and must have lived in the community for at least one year |
| Other (2) | Must have group guarantee |
| # Regions for this institution | 1 |
| # Regions for this product | 1 |
| Regions Active | Northern Region |
| Currency | GHS |
| Minimum loan size | GHS 100 |
| Maximum loan size | 1,000 |
| Loans less than GHS 1,000 | 100% |
| GHS 1,000-5,000 | 0 |
| 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 | 4.0 months |
| Longest loan term | 4.0 months |
| Approx average | 4.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 100% |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 0 |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
| Grace period usage | 100% |
| Average grace period | 0.2 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 |
| Lowest quoted nominal interest | 36.00% |
| Highest quoted nominal interest | 36.00% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | No |
| Do borrowers control deposit in their group? | Yes |
| % loan amount deposited | 10.00% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | End Term |
| 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 | Sample 4 | ||||
|---|---|---|---|---|---|---|---|
| Loan Amount | GHS 300 | GHS 400 | GHS 500 | GHS 600 | |||
| Loan Cycle (1, 2, 3, etc) | 2 | 2 | 2 | 2 | |||
| Disbursement Date | 2013-01-18 | 2013-01-18 | 2013-01-18 | 2013-01-18 | |||
| Loan Term (Months) | 4.0 months | 4.0 months | 4.0 months | 4.0 months | |||
| Grace Period (Months) | 0.2 months | 0.2 months | 0.2 months | 0.2 months | |||
| Total Cost of Credit | GHS 36 | GHS 48 | GHS 60 | GHS 72 | |||
| True Price by Comp | |||||||
| Interest price component | 63.1% | 63.1% | 63.1% | 63.1% | |||
| Fee Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
| Insurance Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
| Deposit Component | 12.5% | 12.5% | 12.5% | 12.5% | |||
| Full APR (int fee ins tax dep) | 75.6% | 75.6% | 75.6% | 75.6% | |||
| Transparency Index | 48 | 48 | 48 | 48 | |||
| Original Repayment Schedule | |||||||
| MFT Pricing Calculation |
| Institution Type | Non Bank Financial Institution |
| Is this institution regulated? | Yes |
| Website address | http://www.smileltd.org |
| Year established | 1995 |
| Head of Institution | Mr. M. Sathiyamoorthi |
| Regions active | Tamil Nadu, Puducherry |
| # Branches | 151 |
| Total Portfolio (nat'l) | INR 3,017,141,968 |
| Total Portfolio (USD) | USD 56,927,206.94 |
| Active clients with loans | 360,271 |
| Approximate % female clients | 100% |
| Approximate % urban clients | 40% - 60% |
| Network affiliations | Sa-Dhan, MFIN |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Micro Loan (IGP) | INR 5,000 - 30,000 | 6 - 24 | 100% | 40% - 60% | Business | Women, Specific age group, Low HH Inc, Med HH Inc, Rural HH, Urban HH | Group Mtgs, 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Micro Loan (IGP) | 25.2% - 26% | 26.8% - 27.9% | 28.7% - 30.9% | Yes | Yes | Info awaited | 100 |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Micro Loan (IGP) | 26.0% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 26.8% - 27.9% | 28.7% - 30.9% | 88 |
| Key Statistics | |
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| # Samples: | |
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| 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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