| Outstanding portfolio (GHS) | GHS 476,439 |
| Portfolio (USD) | USD 241,847.21 |
| Active Clients with Loans | 53 |
| Approximate % Female Clients | 0 |
| Approximate % Urban Clients | 60% - 80% |
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other | Institutional loan |
| Any purpose | |
| Income generation | |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | Financing church building |
| Other (2) |
| Credit education | x |
| Group meetings | |
| Credit insurance | |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | |
| Other (2) | |
| No other services |
| Men | x |
| Women | x |
| Must run a business | |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | |
| Other | Fully registered functioning church |
| Other (2) |
| # Regions for this institution | 6 |
| # Regions for this product | 6 |
| Regions Active | Greater Accra Region, Central Region, Western Region, Eastern Region, Ashanti Region, Brong Ahafo Region |
| Currency | GHS |
| Minimum loan size | GHS 5,000 |
| Maximum loan size | 100,000 |
| Loans less than GHS 1,000 | 0 |
| GHS 1,000-5,000 | 0 |
| GHS 5,000-7,500 | 20% |
| GHS 7,500-10,000 | 20% |
| GHS 10,000-13,000 | 20% |
| Greater than GHS 13,000 | 20% |
| Shortest loan term | 3.0 months |
| Longest loan term | 37.0 months |
| Approx average | 20.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 0 |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 70% |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 30% |
| Grace period usage | 100% |
| Average grace period | 1.0 month |
| 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 | 39.00% |
| Highest quoted nominal interest | 39.00% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | Fee 2 | ||
|---|---|---|---|
| Description | Processing Fee | Application Fee | |
| % of loan amount - min | 3.50% | 0 | |
| % of loan amount - max | 3.50% | 0 | |
| OR, Fixed amount - min | 0 | 3 | |
| Fixed amount - max | 0 | 3 | |
| Reason for variation | N/A | N/A | |
| Appears on Repayment Sched? | No | No |
| Ins 1 | |
|---|---|
| Description | Insurance 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 | 1% of total loan amount, divided and charged equally throughout loan term. |
| 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 | 15.00% |
| 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 | 3.00% |
| Interest payment frequency | Monthly |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | Sample 4 | ||||
|---|---|---|---|---|---|---|---|
| Loan Amount | GHS 6,000 | GHS 9,000 | GHS 12,000 | GHS 15,000 | |||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
| Disbursement Date | 2012-07-17 | 2012-06-29 | 2012-11-23 | 2012-03-23 | |||
| Loan Term (Months) | 25.0 months | 13.0 months | 18.0 months | 37.0 months | |||
| Grace Period (Months) | 0.4 months | 1.0 month | 0.0 months | 0.0 months | |||
| Total Cost of Credit | GHS 2,810.68 | GHS 2,625.71 | GHS 4,276.98 | GHS 9,803.87 | |||
| True Price by Comp | |||||||
| Interest price component | 38.7% | 38.8% | 38.8% | 38.8% | |||
| Fee Component | 4.3% | 6.5% | 5.4% | 3.3% | |||
| Insurance Component | 0.8% | 1.5% | 1.2% | 0.5% | |||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
| Deposit Component | 14.0% | 14.5% | 15.2% | 13.0% | |||
| Full APR (int fee ins tax dep) | 57.8% | 61.3% | 60.6% | 55.6% | |||
| Transparency Index | 67 | 64 | 64 | 70 | |||
| Original Repayment Schedule | |||||||
| MFT Pricing Calculation |
| Institution Type | Non Bank Financial Institution |
| Is this institution regulated? | Yes |
| Website address | http://www.basixindia.com/ |
| Year established | 1996 |
| Head of Institution | Mr. Vijaymahajan |
| Regions active | Andhra Pradesh, Bihar, Chhattisgarh, GujaratJharkhand, Karnataka, Madhya Pradesh, Maharashtra, Meghalaya, OrissaPunjab, Rajasthan, Sikkim, Tripura, Uttar Pradesh, Uttarakhand, West Bengal |
| # Branches | 188 |
| Total Portfolio (nat'l) | INR 2,414,154 |
| Total Portfolio (USD) | USD 45,550.08 |
| Active clients with loans | 396,861 |
| Approximate % female clients | 60% - 80% |
| Approximate % urban clients | 0% - 20% |
| Network affiliations | MFIN, Sadhan |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Samruddhi Agri Allied Loan | INR 15,000 - 50,000 | 23 - 24 | 60% - 80% | 0% - 20% | Business, Agriculture, For improving dairy livelihoods and buying inputs, purchase of mulch animals,procurement of fodder | Women, Men, Joint Liability Group | Credit Ins | |||||||
| Samruddhi Crop Loan | INR 10,000 - 15,000 | 11 | 20% - 40% | 0% - 20% | Business, Agriculture | Women, Men, All farmers/tenant farmers engaged in field crop cultivation | Credit Ins | |||||||
| Samruddhi Micro Enterprise (NFS) Loan | INR 15,000 - 50,000 | 23 - 24 | 60% - 80% | 0% - 20% | Business, For establishment cost,fixed cost,working capital | Women, Men | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Samruddhi Agri Allied Loan | 23.8% | 24.5% - 24.8% | 28.5% - 29.5% | Yes | Yes | Yes | 100 | |||||||
| Samruddhi Crop Loan | 22.9% - 23% | 24.7% - 24.8% | 29.1% - 29.2% | Yes | Yes | Yes | 100 | |||||||
| Samruddhi Micro Enterprise (NFS) Loan | 23.7% - 23.8% | 24.5% - 24.7% | 28.9% - 29.3% | Yes | Yes | Yes | 100 |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Samruddhi Agri Allied Loan | 24.0% annual, Decl Bal | 1 Fee | 2 Ins | 12.36% fees | N/A | 24.5% - 24.8% | 28.5% - 29.5% | 83 | ||||||||
| Samruddhi Crop Loan | 24.0% annual, Decl Bal | 1 Fee | 2 Ins | 12.36% fees | N/A | 24.7% - 24.8% | 29.1% - 29.2% | 82 | ||||||||
| Samruddhi Micro Enterprise (NFS) Loan | 24.0% annual, Decl Bal | 1 Fee | 2 Ins | 12.36% fees | N/A | 24.5% - 24.7% | 28.9% - 29.3% | 82 |
| 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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