Institution Type | Non Bank Financial Institution |
Is this institution regulated? | Yes |
Website address | http://www.armanindia.com/ |
Year established | 1992 |
Head of Institution | Jayendra Patel |
Regions active | Gujarat |
# Branches | 24 |
Total Portfolio (nat'l) | INR 28,042,700,000 |
Total Portfolio (USD) | USD 529,107,547.20 |
Active clients with loans | 41,503 |
Approximate % female clients | 100% |
Approximate % urban clients | 40% - 60% |
Network affiliations | MFIN, Sa-Dhan |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Group Loan | INR 8,000 - 15,000 | 12 | 100% | 40% - 60% | Business, Housing, Education, Other | Women, Have home or land, Low HH Inc, Med HH Inc, Rural HH, Urban HH | Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits |
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 | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Group Loan | 24.4% - 25.4% | 26.3% - 27.3% | 29.1% - 30.2% | Yes | Info awaited | Info awaited | 99 |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Group Loan | 24.5%-26.0% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 26.3% - 27.3% | 29.1% - 30.2% | 83 |
Outstanding portfolio (PKR) | PKR 47,848,616 |
Portfolio (USD) | USD 469,873.41 |
Active Clients with Loans | 2,074 |
Approximate % Female Clients | 20% - 40% |
Approximate % Urban Clients | 40% - 60% |
Individual | |
Solidarity group | |
Village banking | |
Self help group | |
Other |
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | |
Other (2) |
Credit education | |
Group meetings | |
Credit insurance | |
Workplace visits | |
Business training | |
Other training | |
Other | |
Other (2) | |
No other services | x |
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) |
# Regions for this institution | 5 |
# Regions for this product | 5 |
Regions Active | Balochistan, Islambad Capital Territory, Khyber Pakhtunkwa, Punjab, Sindh |
Currency | PKR |
Minimum loan size | PKR 10,000 |
Maximum loan size | 40,000 |
Loans less than PKR 10,000 | 0 |
PKR 10,000-25,000 | 40% |
PKR 25,000-50,000 | 60% |
PKR 50,000-75,000 | 0 |
PKR 75,000-150,000 | 0 |
Greater than PKR 150,000 | 0 |
Shortest loan term | 12.0 months |
Longest loan term | 24.0 months |
Approx average | DK |
Loans 3 months or less | 0 |
Between 4 and 6 months | 0 |
Between 7 and 9 months | 0 |
Between 10 and 12 months | 90% |
Between 13 and 18 months | 5% |
Longer than 18 months | 5% |
Grace period usage | 0 |
Average grace period | 0 |
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 | 35.50% |
Highest quoted nominal interest | 38.00% |
Reason(s) why interest rate varies | Time as Client |
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 | |
---|---|
Description | Loan Processing Fees |
% of loan amount - min | 3.00% |
% of loan amount - max | 3.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | Processing fees also includes Life Insurance facility for the customers. |
Appears on Repayment Sched? | Yes |
Required for | Never |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | N/A |
Do borrowers control deposit in their group? | N/A |
% loan amount deposited | N/A |
or, Fixed-amount deposited | N/A |
% loan amount deposited | N/A |
or, Fixed-amount deposited | N/A |
Conditions on access to deposit | N/A |
Minimum interest rate paid | N/A |
Maximum interest rate paid | N/A |
Interest payment frequency | N/A |
Are taxes charged on this product? | No |
Loan Amount |
Type of Sample |
Disbursement Date |
Loan Term (Months) |
Grace Period (Months) |
Total Cost of Credit |
Full APR (int fee ins tax dep) |
True Price by Component |
Transparency Index |
Original Repayment Schedule |
MFT Pricing Calculation |
||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Interest price component |
Fee Component |
Insurance Component |
Tax Component |
Deposit Component |
||||||||||
PKR 10,000 | Generated | 2015-06-01 | 12.0 months | N/A | PKR 2,229 | 41.3% | 35.0% | 6.3% | 0.0% | 0.0% | 0.0% | 86 | - | |
PKR 15,000 | Generated | 2015-06-01 | 12.0 months | N/A | PKR 3,343.49 | 41.3% | 35.0% | 6.3% | 0.0% | 0.0% | 0.0% | 86 | - | |
PKR 20,000 | Generated | 2015-06-01 | 12.0 months | N/A | PKR 4,457.99 | 41.3% | 35.0% | 6.3% | 0.0% | 0.0% | 0.0% | 86 | - | |
PKR 26,000 | Generated | 2015-06-01 | 12.0 months | N/A | PKR 5,795.39 | 41.3% | 35.0% | 6.3% | 0.0% | 0.0% | 0.0% | 86 | - | |
PKR 30,000 | Generated | 2015-06-01 | 18.0 months | N/A | PKR 9,356.78 | 39.5% | 35.0% | 4.5% | 0.0% | 0.0% | 0.0% | 90 | - | |
PKR 35,000 | Generated | 2015-06-01 | 24.0 months | N/A | PKR 14,025.33 | 38.6% | 35.0% | 3.6% | 0.0% | 0.0% | 0.0% | 92 | - | |
PKR 38,000 | Generated | 2015-06-01 | 12.0 months | N/A | PKR 8,470.18 | 41.3% | 35.0% | 6.3% | 0.0% | 0.0% | 0.0% | 86 | - | |
PKR 40,000 | Generated | 2015-06-01 | 12.0 months | N/A | PKR 8,915.98 | 41.3% | 35.0% | 6.3% | 0.0% | 0.0% | 0.0% | 86 | - |
Key Statistics | |
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Loan Portfolio (USD) | |
% Products using declining balance | |
% Products with one or more fee | |
% Products with one or more insurances | |
% Products with compulsory deposits |
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