| Outstanding portfolio (GHS) | GHS 7,020,472.84 |
| Portfolio (USD) | USD 3,563,691.80 |
| Active Clients with Loans | 2,755 |
| Approximate % Female Clients | 60% - 80% |
| Approximate % Urban Clients | 80% - 100% |
| Individual | x |
| Solidarity group | |
| 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 | |
| Group meetings | |
| Credit insurance | x |
| Workplace visits | |
| Business training | |
| 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 | x |
| Other | |
| Other (2) |
| # Regions for this institution | 3 |
| # Regions for this product | 3 |
| Regions Active | Greater Accra Region, Ashanti Region, Brong Ahafo Region |
| Currency | GHS |
| Minimum loan size | GHS 3,000 |
| Maximum loan size | 15,000 |
| Loans less than GHS 1,000 | 0 |
| GHS 1,000-5,000 | 90% |
| GHS 5,000-7,500 | 10% |
| 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 | 10.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 10% |
| Between 7 and 9 months | 50% |
| Between 10 and 12 months | 40% |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
| Grace period usage | 0 |
| Average grace period | 0 |
| Daily | |
| Weekly | |
| Every 2 weeks | |
| Every 4 weeks | |
| Monthly | x |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments |
| Lowest quoted nominal interest | 3.75% |
| Highest quoted nominal interest | 3.75% |
| 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 | 1.50% |
| % of loan amount - max | 2.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | Fee increased from 1.5% to 2.0% in March 2013. |
| Appears on Repayment Sched? | Yes |
| Ins 1 | |
|---|---|
| Description | Insurance Fee |
| % of loan amount - min | 0.55% |
| % of loan amount - max | 1.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | Fee increased from 0.55% to 1.0% in July 2013. |
| Appears on Repayment Sched? | Yes |
| Required for | Some |
| Criteria | Required only if physical collateral provided is not sufficient. |
| Is deposit indicated on the repayment schedule? | No |
| Do borrowers control deposit in their group? | No |
| % loan amount deposited | 0 - 20.00% |
| 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 | 6.00% |
| Maximum interest rate paid | 6.00% |
| Interest payment frequency | Annually |
| Are taxes charged on this product? | No |
| Sample 2 | Sample 3 | Sample 4 | |||
|---|---|---|---|---|---|
| Loan Amount | GHS 6,000 | GHS 8,000 | GHS 13,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2013-06-10 | 2013-06-03 | 2013-06-28 | ||
| Loan Term (Months) | 12.0 months | 12.0 months | 24.0 months | ||
| Grace Period (Months) | 0.0 months | 0.0 months | 0.3 months | ||
| Total Cost of Credit | GHS 2,860 | GHS 3,283 | GHS 10,322.50 | ||
| True Price by Comp | |||||
| Interest price component | 72.4% | 62.8% | 59.0% | ||
| Fee Component | 4.2% | 4.1% | 2.3% | ||
| Insurance Component | 1.1% | 1.2% | 0.7% | ||
| Tax Component | 0.3% | 0.2% | 0.0% | ||
| Deposit Component | 0.0% | 0.0% | 12.2% | ||
| Full APR (int fee ins tax dep) | 78.0% | 68.3% | 74.2% | ||
| Transparency Index | 58 | 66 | 61 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| Institution Type | Non Bank Financial Institution |
| Is this institution regulated? | Yes |
| Website address | http://www.equitasmf.in |
| Year established | 2007 |
| Head of Institution | PN Vasudevan |
| Regions active | Gujarat, Madhya Pradesh |
| # Branches | 278 |
| Total Portfolio (nat'l) | INR 9,756,400,000 |
| Total Portfolio (USD) | USD 184,083,018.90 |
| Active clients with loans | 1,163,000 |
| Approximate % female clients | 80% - 100% |
| Approximate % urban clients | 80% - 100% |
| Network affiliations | MFIN, Sa-Dhan, Alpha |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Second Cycle Loan | INR 12,000 - 18,000 | 18 - 24 | 80% - 100% | 80% - 100% | Business | Women, Have business, Low HH Inc, Med HH Inc | Credit Educ, Group Mtgs, Credit Ins | |||||||
| Third Cycle Loan | INR 12,000 - 18,000 | 18 - 24 | 80% - 100% | 80% - 100% | Business | Women, Have business, Low HH Inc, Med HH Inc | Credit Educ, Group Mtgs, Credit Ins | |||||||
| First Cycle Loan | INR 12,000 - 18,000 | 18 - 24 | 80% - 100% | 80% - 100% | Business | Women, Have business, Low HH Inc, Med HH Inc | Credit Educ, Group Mtgs, Credit Ins | |||||||
| Income Generating 1 Year Loan | INR 4,999.50 - 5,000 | 12 | 80% - 100% | 80% - 100% | Business | Women, Have business, Low HH Inc, Med HH Inc | Credit Educ, 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Second Cycle Loan | 24.9% - 25.3% | 26% - 26.7% | 27.7% - 29.1% | Yes | Yes | Yes | 100 | |||||||
| Third Cycle Loan | 24.9% - 25.4% | 26% - 26.5% | 27.6% - 28.2% | Yes | Yes | Yes | 100 | |||||||
| First Cycle Loan | 25% - 25.3% | 26% - 26.7% | 27.7% - 29.1% | Yes | Yes | Yes | 100 | |||||||
| Income Generating 1 Year Loan | 24.4% - 25.3% | 26.4% - 27.4% | 28.1% - 29.3% | Yes | Yes | Yes | 100 |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Second Cycle Loan | 25.5% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 26% - 26.7% | 27.7% - 29.1% | 90 | ||||||||
| Third Cycle Loan | 25.5% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 26% - 26.5% | 27.6% - 28.2% | 91 | ||||||||
| First Cycle Loan | 25.5% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 26% - 26.7% | 27.7% - 29.1% | 90 | ||||||||
| Income Generating 1 Year Loan | 25.5% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 26.4% - 27.4% | 28.1% - 29.3% | 89 |
| 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 |
| Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
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