2. BestFUND
Please note that the information you are viewing is 139 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE
  2. SU
Please note that the information you are viewing is 170 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

BestFUND Head OfficeCantomentsAccra, Greater AccraP.O. Box CT 5217
Data approved: 2013-03-04
Data version: 2
Age of data: 139 months
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Institution

Sahara Uttarayan Sahara Banerjee Para, 1st Sarani, Michaelnagar, Kol-700133Kolkata, West Bengal
Data approved: 2010-10-25
Data version: 1
Age of data: 170 months

Product

Individual Loan Product 3 of 3 « Prev | Next »

Product

Small Loan product (12.5%) Product 1 of 1 « Prev | Next »

Product Summary

Number borrowers2,211
Loan Amount (range)GHS 500 - 1,000
Loan Term (range)4 - 6
Other Services (text summary)Credit Ins
Annual Interest & Method36.0%-96.0% annual, Flat
Fees3.00% upfront
InsuranceNone
TaxNone
Comp Dep10.0% upfront
Range of pricing 
Interest Price Component49.7% - 53.3%
Fee Component9.3% - 18.4%
Insurance Component0
Tax Component Range0
Full APR (int fee ins tax dep)72.1% - 80.2%
Transparency Index (min/max)44 - 53
Transparency Index (average)47

Product Summary

61,128
INR 6,000 - 20,000
10.5
Credit Ins
12.5% annual, Flat
1.90% upfront
0.60% upfront
None
10.0% upfront
 
N/A
31.9% (Int+Fee)
1.5%
0
40.7% - 40.8%
31
31

Product Details

Key Statistics
Outstanding portfolio (GHS)GHS 1,115,029
Portfolio (USD)USD 566,004.57
Active Clients with Loans2,211
Approximate % Female Clients60% - 80%
Approximate % Urban Clients0% - 20%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
Designed for indivudals with businesses requesting small loans.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit education
Group meetings
Credit insurancex
Workplace visits
Business training
Other training
Other
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a businessx
Must own a home or land
Must be a salaried worker
Must be specific age group
Other
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution2
# Regions for this product2
Regions ActiveGreater Accra Region, Ashanti Region

Product Details

Key Statistics
Outstanding portfolio (INR)INR 291,437,465
Portfolio (USD)USD 5,498,820.09
Active Clients with Loans61,128
Approximate % Female Clients80% - 100%
Approximate % Urban Clients20% - 40%
Methodology
Individualx
Solidarity groupx
Village banking
Self help group
Other
Description
Tenor (in weeks)-45 ,Interest Rate-12.5%, LPC-1.9% of Principal Loan disbursement, credit insurance @ 0.6% of Principal Loan disbursement.
Loan Purpose
Any purpose
Income generationx
Mortgage/housingx
Consumer loanx
Agriculture
Educationx
Other household financex
OtherCottage, Medical ,Marriage
Other (2)Agri-Allied Business
Included Services
Credit education
Group meetings
Credit insurancex
Workplace visits
Business training
Other training
Other
Other (2)
No other services
Eligibility
Men
Womenx
Must run a businessx
Must own a home or landx
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)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institutionN/A
# Regions for this productN/A
Regions Active

Loan Conditions

Loan Amount
CurrencyGHS
Minimum loan sizeGHS 500
Maximum loan size1,000
Distribution at Disbursement (Est.)
Loans less than GHS 1,000100%
GHS 1,000-5,0000
GHS 5,000-7,5000
GHS 7,500-10,0000
GHS 10,000-13,0000
Greater than GHS 13,0000
Loan Term and Grace Period
Shortest loan term4.0 months
Longest loan term6.0 months
Approx averagedk
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months100%
Between 7 and 9 months0
Between 10 and 12 months0
Between 13 and 18 months0
Longer than 18 months0
Grace Period
Grace period usage100%
Average grace period1.0 month
Repayment Frequency
Dailyx
Weeklyx
Every 2 weeksx
Every 4 weeks
Monthly
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Loan Conditions

Loan Amount
CurrencyINR
Minimum loan sizeINR 6,000
Maximum loan size20,000
Loan Term and Grace Period
Shortest loan term10.5 months
Longest loan term10.5 months
Approx average0
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months0
Between 7 and 9 months0
Between 10 and 12 months100%
Between 13 and 18 months0
Longer than 18 months0
Grace Period
Grace period usage10%
Average grace period1.0 month
Repayment Frequency
Daily
Weeklyx
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 interest3.00%
Highest quoted nominal interest8.00%
Reason(s) why interest rate variesClient Risk
Interest rate periodMonthly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionProcessing Fee
% of loan amount - min3.00%
% of loan amount - max3.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?Yes
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
This product has no upfront insurance fees
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forAll
CriteriaN/A
Is deposit indicated on the repayment schedule?Yes
Do borrowers control deposit in their group?No
Deposit BEFORE or AT Disbursement
% loan amount deposited10.00%
or, Fixed-amount deposited0
Deposits DURING period payments
% loan amount deposited0
or, Fixed-amount deposited0
Conditions on access to depositWhen Leaving
Interest Paid on Deposit
Minimum interest rate paid4.00%
Maximum interest rate paid4.00%
Interest payment frequencyEnd Term
Taxes
Are taxes charged on this product?No

Pricing Information

Interest
Lowest quoted nominal interest12.50%
Highest quoted nominal interest12.50%
Interest rate periodYearly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionProcessing Fee
% of loan amount - min1.90%
% of loan amount - max1.90%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?No
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionInsurance Premium
% of loan amount - min0.60%
% of loan amount - max0.60%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?No
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forAll
CriteriaN/A
Is deposit indicated on the repayment schedule?Yes
Do borrowers control deposit in their group?
Deposit BEFORE or AT Disbursement
% loan amount deposited10.00%
or, Fixed-amount deposited0
Deposits DURING period payments
% loan amount deposited0
or, Fixed-amount deposited0
Conditions on access to depositEnd Term
Interest Paid on Deposit
Minimum interest rate paid0
Maximum interest rate paid0
Interest payment frequencyN/A
Taxes
Are taxes charged on this product?No

Full Pricing Data

Individual Loan samples
Sample 1Sample 2Sample 3
Loan AmountGHS 750GHS 800GHS 850
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot Known
Disbursement Date2013-01-252013-03-022013-02-20
Loan Term (Months)5.0 months3.0 months5.0 months
Grace Period (Months)1.5 months0.9 months1.3 months
Total Cost of CreditGHS 135.50GHS 96GHS 153.50
True Price by Comp     
Interest price component51.1%51.0%53.3%
Fee Component11.2%18.1%11.7%
Insurance Component0.0%0.0%0.0%
Tax Component0.0%0.0%0.0%
Deposit Component9.8%11.1%10.7%
Full APR (int fee ins tax dep)72.1%80.2%75.7%
Transparency Index504548
      
Original Repayment SchedulePDFPDFPDF
MFT Pricing CalculationPDFPDFPDF

Full Pricing Data

Small Loan product (12.5%) samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountINR 8,000INR 8,000INR 20,000INR 20,000
Loan Cycle (1, 2, 3, etc)1143
Disbursement Date2010-04-082010-05-132010-07-062010-07-06
Loan Term (Months)10.5 months10.5 months10.5 months10.5 months
Grace Period (Months)1.0 month0.0 months0.0 months0.0 months
Total Cost of CreditNot KnownNot KnownNot KnownNot Known
True Price by Comp       
Interest and Fee Component31.9%31.9%31.9%31.9%
Insurance Component1.5%1.5%1.5%1.5%
Tax Component0.0%0.0%0.0%0.0%
Deposit Component7.4%7.4%7.4%7.4%
Full APR (int fee ins tax dep)40.8%40.7%40.7%40.7%
MFIN MFI Earning (Annualised)31.9%31.9%31.9%31.9%
MFIN Cost to Borrower (Annualised)40.8%40.7%40.7%40.7%
Transparency Index31313131
MFIN Transparency IndexN/AN/AN/AN/A
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF
* The APR stated here is an MFTransparency term, definition and formula
Individual Loan Price Graphs


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Small Loan product (12.5%) 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
Filter table:
Country InstAbbrev SampleCode Loan Amount USD Loan Term (Months) SampClients FullAPR DateApproved
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