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
Institution
Data approved: 2013-03-12
Data version: 2
Age of data: 141 months
Key Statistics
| 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% |
Methodology
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other | Institutional loan |
Description
Church loan is designed for Chuches for their development activities. Collateral is not required.
Loan Purpose
| Any purpose | |
| Income generation | |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | Financing church building |
| Other (2) | |
Included Services
| Credit education | x |
| Group meetings | |
| Credit insurance | |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | |
| Other (2) | |
| No other services | |
Eligibility
| 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) | |
Portfolio Size by Product
Geographic Coverage
| # 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 |
Loan Conditions
Loan Amount
| Currency | GHS |
| Minimum loan size | GHS 5,000 |
| Maximum loan size | 100,000 |
Distribution at Disbursement (Est.)
| 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% |
Loan Term and Grace Period
| Shortest loan term | 3.0 months |
| Longest loan term | 37.0 months |
| Approx average | 20.0 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 | 70% |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 30% |
Grace Period
| Grace period usage | 100% |
| Average grace period | 1.0 month |
Repayment Frequency
| 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 | |
Pricing Information
Interest
| 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 |
Upfront Fees
| 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 |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
This product has no upfront insurance feesOngoing Insurance Fees
| 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 |
Compulsory Deposit
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | No |
| Do borrowers control deposit in their group? | No |
Deposit BEFORE or AT Disbursement
| % loan amount deposited | 15.00% |
| or, Fixed-amount deposited | 0 |
Deposits DURING period payments
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | Final Pmt |
Interest Paid on Deposit
| Minimum interest rate paid | 0 |
| Maximum interest rate paid | 3.00% |
| Interest payment frequency | Monthly |
Taxes
| Are taxes charged on this product? | No |
Additional Comments
Interest paid on deposit rule - If amount deposited is less than 1,000 GHS, 0% interest. If amount deposited is 1,000 GHS or more, 3% interest.
Full Pricing Data
Church Loan samples
| 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 | PDF | | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF |
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
Data approved: 2013-01-21
Data version: 2
Age of data: 140 months
| Institution Type | Non Bank Financial Institution |
| Is this institution regulated? | Yes |
| Website address | http://www.samasta.co.in/ |
| Year established | 2008 |
| Head of Institution | Venkatesh N |
| Regions active | Karnataka, Tamil Nadu |
| # Branches | 24 |
| Total Portfolio (nat'l) | INR 254,928,392 |
| Total Portfolio (USD) | USD 4,809,969.66 |
| Active clients with loans | 45,514 |
| Approximate % female clients | 80% - 100% |
| Approximate % urban clients | 80% - 100% |
| Network affiliations | MFIN, India, AKMI, India |
44,713 Borrowers
USD 4,564,460.55 Portfolio
Active Product
801 Borrowers
USD 245,509.11 Portfolio
Active Product
Loan Products » Conditions
| Product Name |
|
Loan Size Range |
|
Loan Term (months) |
|
% Female |
|
% Urban |
|
Loan Purpose |
|
Eligibility |
|
Other Services |
| Income Generation Loan |
|
INR 10,000 - 15,000 |
|
12 |
|
80% - 100% |
|
80% - 100% |
|
Business |
|
Women, Have business, Low HH Inc, Med HH Inc |
|
Credit Educ, Group Mtgs, Credit Ins, Other Training |
| Dairy Cow Loan |
|
INR 24,999 - 25,000 |
|
24 |
|
80% - 100% |
|
0% - 20% |
|
Business |
|
Women, Low HH Inc, Med HH Inc, Must be supplying milk to procurers (Cooperatives or private) |
|
Credit Educ, Group Mtgs, Credit Ins |
Loan Products » MFIN India Additional Information
| 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 |
| Income Generation Loan |
|
27.2% - 28% |
|
29.2% - 30% |
|
30.3% - 31.1% |
|
Yes |
|
Yes |
|
Yes |
|
99 |
| Dairy Cow Loan |
|
27% - 27.2% |
|
28% - 28.2% |
|
28.8% - 29% |
|
Yes |
|
Yes |
|
Yes |
|
100 |
Loan Products » Pricing Information
| Product Name |
|
Annual Nominal Interest |
|
Fees |
|
Insurance |
|
Taxes |
|
Compulsory Deposit |
|
APR (int+fee) |
|
Full APR |
|
Transparency Index |
| Income Generation Loan |
|
26.0%-27.5% annual, Decl Bal |
|
1 Fee |
|
1 Ins |
|
12.36% fees |
|
N/A |
|
29.2% - 30% |
|
30.3% - 31.1% |
|
85 |
| Dairy Cow Loan |
|
26.0%-27.5% annual, Decl Bal |
|
1 Fee |
|
1 Ins |
|
12.36% fees |
|
N/A |
|
28% - 28.2% |
|
28.8% - 29% |
|
90 |
