Please note that the information you are viewing is
137 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: 137 months
Key Statistics
Outstanding portfolio (GHS) | GHS 21,719,748 |
Portfolio (USD) | USD 11,025,252.79 |
Active Clients with Loans | 39,801 |
Approximate % Female Clients | 60% - 80% |
Approximate % Urban Clients | 40% - 60% |
Methodology
Individual | |
Solidarity group | x |
Village banking | |
Self help group | x |
Other | |
Description
Group loan is designed to men and women engaged in micro-business. The loan is offered with access to free training in leadership development, financial literacy and community development. Collateral is not required.
Loan Purpose
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | |
Other (2) | |
Included Services
Credit education | x |
Group meetings | x |
Credit insurance | x |
Workplace visits | x |
Business training | x |
Other training | |
Other | |
Other (2) | |
No other services | |
Eligibility
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 | |
Other | |
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 100 |
Maximum loan size | 8,000 |
Distribution at Disbursement (Est.)
Loans less than GHS 1,000 | 60% |
GHS 1,000-5,000 | 40% |
GHS 5,000-7,500 | 0 |
GHS 7,500-10,000 | 0 |
GHS 10,000-13,000 | 0 |
Greater than GHS 13,000 | 0 |
Loan Term and Grace Period
Shortest loan term | 3.0 months |
Longest loan term | 12.0 months |
Approx average | 6.0 months |
Distribution at Disbursement (Est.)
Loans 3 months or less | 20% |
Between 4 and 6 months | 20% |
Between 7 and 9 months | 50% |
Between 10 and 12 months | 10% |
Between 13 and 18 months | 0 |
Longer than 18 months | 0 |
Grace Period
Grace period usage | 100% |
Average grace period | 0.5 months |
Repayment Frequency
Daily | |
Weekly | x |
Every 2 weeks | x |
Every 4 weeks | x |
Monthly | |
Every 2 months | |
Quarterly | |
Every 6 months | |
Every 12 months | |
Single end payment | |
Irregular payments | |
Pricing Information
Interest
Lowest quoted nominal interest | 41.04% |
Highest quoted nominal interest | 41.04% |
Interest rate period | Yearly |
Interest Rate Calculation Method | Flat |
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 | End Term |
Interest Paid on Deposit
Minimum interest rate paid | 0 |
Maximum interest rate paid | 3.00% |
Interest payment frequency | End Term |
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
Group Loan samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 | | Sample 5 |
---|
Loan Amount | GHS 250 | | GHS 800 | | GHS 1,400 | | GHS 3,000 | | GHS 2,700 |
Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known | | Not Known |
Disbursement Date | 2012-12-24 | | 2012-11-01 | | 2012-12-19 | | 2012-10-08 | | 2012-10-24 |
Loan Term (Months) | 4.3 months | | 6.0 months | | 5.8 months | | 7.0 months | | 6.0 months |
Grace Period (Months) | 0.5 months | | 0.5 months | | 0.1 months | | 0.5 months | | 0.5 months |
Total Cost of Credit | GHS 50.73 | | GHS 205.56 | | GHS 349.74 | | GHS 863.20 | | GHS 683.94 |
True Price by Comp | | | | | | | | | |
Interest price component | 66.7% | | 69.6% | | 64.1% | | 69.0% | | 69.2% |
Fee Component | 24.0% | | 15.0% | | 13.4% | | 12.1% | | 14.0% |
Insurance Component | 4.4% | | 3.1% | | 3.0% | | 2.7% | | 3.1% |
Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% |
Deposit Component | 28.8% | | 27.1% | | 22.5% | | 25.4% | | 26.6% |
Full APR (int fee ins tax dep) | 123.9% | | 114.8% | | 103.0% | | 109.2% | | 112.9% |
Transparency Index | 33 | | 36 | | 40 | | 38 | | 36 |
| | | | | | | | | |
Original Repayment Schedule | PDF | | PDF | | PDF | | PDF | | PDF |
MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF | | PDF |
Please note that the information you are viewing is
169 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: 2010-10-25
Data version: 1
Age of data: 169 months
Institution Type | Non-Governmental Organization |
Is this institution regulated? | Yes |
Website address | http://www.asomi.co.in/ |
Year established | 2008 |
Head of Institution | Subhrajyoti Bharali |
Regions active | |
# Branches | 50 |
Total Portfolio (nat'l) | INR 251,500,000 |
Total Portfolio (USD) | USD 4,745,283.02 |
Active clients with loans | 50,326 |
Approximate % female clients | 80% - 100% |
Approximate % urban clients | 0% - 20% |
Network affiliations | |
1,301 Borrowers
USD 241,509.43 Portfolio
Active Product
49,025 Borrowers
USD 4,501,886.79 Portfolio
Active Product
Loan Products » Conditions
Product Name |
|
Loan Size Range |
|
Loan Term (months) |
|
% Female |
|
% Urban |
|
Loan Purpose |
|
Eligibility |
|
Other Services |
Entrepreneurship Development Loan |
|
INR 25,000 - 50,000 |
|
10 - 12 |
|
0% - 20% |
|
0% - 20% |
|
Business |
|
Women, Men, Have business |
|
Credit Educ, Credit Ins, Tech Asst Visits, Business Training |
SHG Loan |
|
INR 5,000 - 25,000 |
|
12 |
|
60% - 80% |
|
0% - 20% |
|
Business |
|
Women |
|
Group Mtgs, Tech Asst Visits, Business Training |
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 |
Entrepreneurship Development Loan |
|
0% |
|
33% |
|
45.6% |
|
|
|
|
|
|
|
N/A |
SHG Loan |
|
0% |
|
28.8% - 29.2% |
|
39.4% - 40.7% |
|
|
|
|
|
|
|
N/A |
Loan Products » Pricing Information
Product Name |
|
Annual Nominal Interest |
|
Fees |
|
Insurance |
|
Taxes |
|
Compulsory Deposit |
|
APR (int+fee) |
|
Full APR |
|
Transparency Index |
Entrepreneurship Development Loan |
|
16.0% annual, Flat |
|
1 Fee |
|
1 Ins |
|
None |
|
15.0% upfront |
|
33% |
|
45.6% |
|
35 |
SHG Loan |
|
15.0% annual, Flat |
|
1 Fee |
|
1 Ins |
|
None |
|
15.0% upfront |
|
28.8% - 29.2% |
|
39.4% - 40.7% |
|
37 |