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 1,799,523 |
Portfolio (USD) | USD 913,463.45 |
Active Clients with Loans | 1,443 |
Approximate % Female Clients | 40% - 60% |
Approximate % Urban Clients | 40% - 60% |
Methodology
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other | |
Description
Susu loan is offered to Susu depositors after three months contributions. No collateral is required under this loan and repayment is small amount on a daily basis.
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 | |
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 | |
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 | 10,000 |
Distribution at Disbursement (Est.)
Loans less than GHS 1,000 | 30% |
GHS 1,000-5,000 | 60% |
GHS 5,000-7,500 | 10% |
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 | 7.0 months |
Distribution at Disbursement (Est.)
Loans 3 months or less | 10% |
Between 4 and 6 months | 40% |
Between 7 and 9 months | 50% |
Between 10 and 12 months | 0 |
Between 13 and 18 months | 0 |
Longer than 18 months | 0 |
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% |
Reason(s) why interest rate varies | Time as Client, Loan Size, Client Risk, Loan Purpose |
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 | 3.00% | | 0 |
% of loan amount - max | 3.00% | | 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 | Never |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | N/A |
Do borrowers control deposit in their group? | N/A |
Deposit BEFORE or AT Disbursement
% loan amount deposited | N/A |
or, Fixed-amount deposited | N/A |
Deposits DURING period payments
% loan amount deposited | N/A |
or, Fixed-amount deposited | N/A |
Conditions on access to deposit | N/A |
Interest Paid on Deposit
Minimum interest rate paid | N/A |
Maximum interest rate paid | N/A |
Interest payment frequency | N/A |
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
Susu Loan samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 | | Sample 5 | | Sample 6 |
---|
Loan Amount | GHS 300 | | GHS 700 | | GHS 1,400 | | GHS 3,000 | | GHS 6,000 | | GHS 8,000 |
Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known | | Not Known | | Not Known |
Disbursement Date | 2012-12-18 | | 2012-10-17 | | 2012-12-14 | | 2012-12-17 | | 2012-05-09 | | 2012-06-25 |
Loan Term (Months) | 6.0 months | | 7.0 months | | 10.0 months | | 6.0 months | | 12.0 months | | 12.0 months |
Grace Period (Months) | 0.5 months | | 0.5 months | | 0.4 months | | 0.3 months | | 0.4 months | | 0.4 months |
Total Cost of Credit | GHS 78.84 | | GHS 182.28 | | GHS 540.80 | | GHS 755.10 | | GHS 2,524.70 | | GHS 3,575.40 |
True Price by Comp | | | | | | | | | | | |
Interest price component | 59.7% | | 59.6% | | 62.4% | | 60.9% | | 61.8% | | 61.5% |
Fee Component | 14.9% | | 12.8% | | 8.5% | | 12.2% | | 7.4% | | 6.9% |
Insurance Component | 2.7% | | 2.6% | | 1.6% | | 2.8% | | 1.5% | | 1.4% |
Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% |
Deposit Component | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% |
Full APR (int fee ins tax dep) | 77.3% | | 75.0% | | 72.5% | | 75.9% | | 70.7% | | 69.8% |
Transparency Index | 50 | | 52 | | 54 | | 51 | | 55 | | 56 |
| | | | | | | | | | | |
Original Repayment Schedule | PDF | | PDF | | PDF | | PDF | | PDF | | PDF |
MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF | | PDF | | PDF |
Please note that the information you are viewing is
136 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: 2013-05-06
Data version: 2
Age of data: 136 months
Institution Type | Non Bank Financial Institution |
Is this institution regulated? | Yes |
Website address | http://www.gvmfl.com/ |
Year established | 1986 |
Head of Institution | Mr.S.Devaraj, Chairman and Managing Director |
Regions active | Madhya Pradesh, Maharashtra, Tamil Nadu, Puducherry |
# Branches | 285 |
Total Portfolio (nat'l) | INR 5,411,394,265 |
Total Portfolio (USD) | USD 102,101,778.60 |
Active clients with loans | 738,218 |
Approximate % female clients | 80% - 100% |
Approximate % urban clients | 20% - 40% |
Network affiliations | MFIN, Sadhan, MIX |
738,218 Borrowers
USD 102,101,778.60 Portfolio
Active Product
Loan Products » Conditions
Product Name |
|
Loan Size Range |
|
Loan Term (months) |
|
% Female |
|
% Urban |
|
Loan Purpose |
|
Eligibility |
|
Other Services |
General Loan |
|
INR 10,000 - 15,000 |
|
6 - 12 |
|
100% |
|
20% - 40% |
|
Business |
|
Women |
|
Credit Educ, Group Mtgs |
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 |
General Loan |
|
23.3% - 23.7% |
|
25.4% - 27.9% |
|
27.5% - 31.4% |
|
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 |
General Loan |
|
26.0% annual, Decl Bal |
|
1 Fee |
|
1 Ins |
|
12.36% fees |
|
N/A |
|
25.4% - 27.9% |
|
27.5% - 31.4% |
|
87 |