2. SAT
Please note that the information you are viewing is 139 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE
  2. Janalakshmi
Please note that the information you are viewing is 139 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Sinapi Aba Trust 22A Ellis Avenue Nhyiaeso, near Capital RadioKumasi, AshantiP.O. Box 4911
Data approved: 2013-03-13
Data version: 2
Age of data: 139 months
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Institution

Janalakshmi Financial Services (P) Ltd. Rajashree Saroja Plaza, 34/1, Andree Road,ShanthinagarBangalore, Karnataka560027
Data approved: 2013-05-03
Data version: 2
Age of data: 139 months
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Product

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Product

Small Group Loan Product 2 of 2 « Prev | Next »

Product Summary

Number borrowers4,150
Loan Amount (range)GHS 100 - 5,000
Loan Term (range)6 - 12
Other Services (text summary)Credit Educ, Group Mtgs, Business Training
Annual Interest & Method20.00%-40.00% annual, Flat
Fees2 fees
Insurance1.00%-4.00% ongoing
TaxNone
Comp Dep10.00% upfront
Range of pricing 
Interest Price Component46.3% - 64.7%
Fee Component6.8% - 18.2%
Insurance Component2.2% - 3.1%
Tax Component Range0
Full APR (int fee ins tax dep)78.7% - 91.5%
Transparency Index (min/max)22 - 52
Transparency Index (average)22

Product Summary

505,914
INR 5,000 - 50,000
12 - 24
Credit Educ, Group Mtgs, Credit Ins
26.0% annual, Decl Bal
1.00% upfront
0.33% upfront
12.36% fees
N/A
 
27.5% - 29.6%
1.0% - 5.9%
0 - 1.7%
0.1% - 0.7%
30.4% - 33.4%
57 - 86
83

Product Details

Key Statistics
Outstanding portfolio (GHS)GHS 2,124,145
Portfolio (USD)USD 1,078,246.19
Active Clients with Loans4,150
Approximate % Female Clients80% - 100%
Approximate % Urban Clients60% - 80%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
Designed for micro and small entrepreneurs to enable them to acquire basic inputs to expand businesses.
Loan Purpose
Any purpose
Income generationx
Mortgage/housingx
Consumer loan
Agriculture
Educationx
Other household finance
OtherMicro School
Other (2)Special Agric Loan
Included Services
Credit educationx
Group meetingsx
Credit insurance
Workplace visits
Business trainingx
Other training
Other
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a businessx
Must own a home or land
Must be a salaried worker
Must be specific age group
Other
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution10
# Regions for this product10
Regions ActiveGreater Accra Region, Central Region, Western Region, Eastern Region, Volta Region, Ashanti Region, Brong Ahafo Region, Northern Region, Upper East Region, Upper West Region

Product Details

Key Statistics
Outstanding portfolio (INR)INR 6,309,129,714
Portfolio (USD)USD 119,040,183.30
Active Clients with Loans505,914
Approximate % Female Clients100%
Approximate % Urban Clients100%
Methodology
Individual
Solidarity groupx
Village banking
Self help group
Other
Description
Small group loans are provided to a group consisting of members who co-gurarantee each other. The loans can be used for a range of purposes including repayment of existing loans, education, micro enterprises, emergency etc.
Loan Purpose
Any purpose
Income generationx
Mortgage/housingx
Consumer loanx
Agriculture
Educationx
Other household financex
Other
Other (2)
Included Services
Credit educationx
Group meetingsx
Credit insurancex
Workplace visits
Business training
Other training
Other
Other (2)
No other services
Eligibility
Men
Womenx
Must run a business
Must own a home or land
Must be a salaried worker
Must be specific age group
Household income <60,000 INR
Household income <120,000 INR
Must live in rural area
Must lives in urban area
OtherGroup members must live within each other's vicinity.
Other (2)Must demonstrate capacity to repay.
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution9
# Regions for this product9
Regions ActiveGujarat, Haryana, Karnataka, Madhya Pradesh, MaharashtraPunjab, Tamil Nadu, Uttar Pradesh, National Capital Territory of Delhi

Loan Conditions

Loan Amount
CurrencyGHS
Minimum loan sizeGHS 100
Maximum loan size5,000
Distribution at Disbursement (Est.)
Loans less than GHS 1,00080%
GHS 1,000-5,00020%
GHS 5,000-7,5000
GHS 7,500-10,0000
GHS 10,000-13,0000
Greater than GHS 13,0000
Loan Term and Grace Period
Shortest loan term6.0 months
Longest loan term12.0 months
Approx average8.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months15%
Between 7 and 9 months70%
Between 10 and 12 months15%
Between 13 and 18 months0
Longer than 18 months0
Grace Period
Grace period usage100%
Average grace period1.0 month
Repayment Frequency
Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end paymentx
Irregular payments

Loan Conditions

Loan Amount
CurrencyINR
Minimum loan sizeINR 5,000
Maximum loan size50,000
Distribution at Disbursement (Est.)
Loans less than INR 5,0000
INR 5,000-15,00070%
INR 15,000-25,00020%
INR 25,000-35,00010%
INR 35,000-45,0000
Greater than INR 45,0000
Loan Term and Grace Period
Shortest loan term12.0 months
Longest loan term24.0 months
Approx average15.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months0
Between 7 and 9 months0
Between 10 and 12 months70%
Between 13 and 18 months0
Longer than 18 months30%
Grace Period
Grace period usage70%
Average grace period1.0 month
Repayment Frequency
Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest
Lowest quoted nominal interest20.00%
Highest quoted nominal interest40.00%
Reason(s) why interest rate variesTime as Client, Loan Size, Loan Purpose
Interest rate periodYearly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1Fee 2
DescriptionProcessing FeeTraining Fee
% of loan amount - min3.50%0
% of loan amount - max3.50%0
OR, Fixed amount - min03
Fixed amount - max03
Reason for variationN/AN/A
Appears on Repayment Sched?YesNo
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
This product has no upfront insurance fees
Ongoing Insurance Fees
Ins 1
DescriptionClient Welfare Fee
% of loan amount - min1.00%
% of loan amount - max4.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationVaries depending on loan term - 6 to 24 months. Fee is 2% p.a
Appears on Repayment Sched?No
Compulsory Deposit
Required forAll
CriteriaMost loans do not have compulsory savings for old clients
Is deposit indicated on the repayment schedule?No
Do borrowers control deposit in their group?No
Deposit BEFORE or AT Disbursement
% loan amount deposited10.00%
or, Fixed-amount deposited0
Deposits DURING period payments
% loan amount deposited0
or, Fixed-amount deposited0
Conditions on access to depositEnd Term
Interest Paid on Deposit
Minimum interest rate paid8.00%
Maximum interest rate paid8.00%
Interest payment frequencyMonthly
Taxes
Are taxes charged on this product?No

Pricing Information

Interest
Lowest quoted nominal interest26.00%
Highest quoted nominal interest26.00%
Reason(s) why interest rate variesTime as Client
Interest rate periodYearly
Interest Rate Calculation MethodDecl Bal
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionProcessing Fee
% of loan amount - min1.00%
% of loan amount - max1.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?Yes
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionInsurance premium
% of loan amount - min0.33%
% of loan amount - max0.33%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationPremium is 0.325% of loan amount. If cover is for both borrower & co-borrower for 24 months, the total will be 0.325% of loan amount times 4.
Appears on Repayment Sched?Yes
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forNever
CriteriaN/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 depositedN/A
or, Fixed-amount depositedN/A
Deposits DURING period payments
% loan amount depositedN/A
or, Fixed-amount depositedN/A
Conditions on access to depositN/A
Interest Paid on Deposit
Minimum interest rate paidN/A
Maximum interest rate paidN/A
Interest payment frequencyN/A
Taxes
Are taxes charged on this product?Yes
Percentage of fees12.4%
All or some fees taxedSome

Full Pricing Data

Individual samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountGHS 400GHS 600GHS 1,500GHS 3,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot Known
Disbursement Date2013-02-182013-03-122013-02-042013-03-12
Loan Term (Months)4.5 months4.5 months7.0 months9.0 months
Grace Period (Months)0.5 months0.4 months0.4 months0.5 months
Total Cost of CreditGHS 80GHS 118.52GHS 342.54GHS 993.52
True Price by Comp       
Interest price component57.6%58.3%52.3%61.7%
Fee Component18.2%17.3%12.0%9.5%
Insurance Component2.7%2.7%2.5%2.8%
Tax Component0.0%0.0%0.0%0.0%
Deposit Component13.0%13.0%11.9%13.1%
Full APR (int fee ins tax dep)91.5%91.3%78.7%87.1%
Transparency Index22222523
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF

Full Pricing Data

Small Group Loan samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountINR 15,000INR 20,000INR 25,000INR 30,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot Known
Disbursement Date2013-04-012013-04-042013-04-012013-04-01
Loan Term (Months)12.0 months24.0 months24.0 months24.0 months
Grace Period (Months)0.0 months-0.1 months0.0 months0.0 months
Total Cost of CreditINR 2,908.54INR 6,974.72INR 8,795.90INR 10,552
True Price by Comp       
Interest price component29.6%27.9%27.9%27.9%
Fee Component1.9%1.1%1.0%1.0%
Insurance Component1.7%1.4%1.4%1.4%
Tax Component0.2%0.1%0.1%0.1%
Deposit Component0.0%0.0%0.0%0.0%
Full APR (int fee ins tax dep)33.4%30.5%30.4%30.4%
MFIN MFI Earning (Annualised)31.5%29.0%28.9%28.9%
MFIN Cost to Borrower (Annualised)33.4%30.5%30.4%30.4%
Transparency Index78858686
MFIN Transparency Index88939393
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF
* The APR stated here is an MFTransparency term, definition and formula
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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
Filter table:
Country InstAbbrev SampleCode Loan Amount USD Loan Term (Months) SampClients FullAPR DateApproved
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