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: 2012-11-22
Data version: 2
Age of data: 136 months
Institution Type | Non Bank Financial Institution |
Is this institution regulated? | Yes |
Website address | http://www.arohan.in/ |
Year established | 1991 |
Head of Institution | Shubhankar Sengupta |
Regions active | Assam, Bihar, West Bengal |
# Branches | 86 |
Total Portfolio (nat'l) | INR 399,408,132 |
Total Portfolio (USD) | USD 7,536,002.49 |
Active clients with loans | 76,358 |
Approximate % female clients | 80% - 100% |
Approximate % urban clients | 80% - 100% |
Network affiliations | MFIN, Sa-Dhan |
5,611 Borrowers
USD 966,962.26 Portfolio
Active Product
37,941 Borrowers
USD 7,124,547.17 Portfolio
Active Product
Loan Products » Conditions
Product Name |
|
Loan Size Range |
|
Loan Term (months) |
|
% Female |
|
% Urban |
|
Loan Purpose |
|
Eligibility |
|
Other Services |
Bazar Loan |
|
INR 6,000 - 18,000 |
|
10 - 11 |
|
0% - 20% |
|
80% - 100% |
|
Any Purpose |
|
Women, Men, Have business |
|
Credit Educ, Group Mtgs, Credit Ins |
Saral Monthly |
|
INR 5,000 - 15,000 |
|
15 |
|
80% - 100% |
|
80% - 100% |
|
Any Purpose |
|
Women |
|
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 |
Bazar Loan |
|
25% - 27.1% |
|
27.1% - 29.4% |
|
28.5% - 30.9% |
|
Yes |
|
Yes |
|
Yes |
|
100 |
Saral Monthly |
|
26% - 31.1% |
|
27.6% - 32.9% |
|
29.1% - 34.4% |
|
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 |
Bazar Loan |
|
27.3% annual, Decl Bal |
|
1 Fee |
|
1 Ins |
|
12.36% fees |
|
N/A |
|
27.1% - 29.4% |
|
28.5% - 30.9% |
|
91 |
Saral Monthly |
|
28.4% annual, Decl Bal |
|
1 Fee |
|
1 Ins |
|
12.36% fees |
|
N/A |
|
27.6% - 32.9% |
|
29.1% - 34.4% |
|
91 |
Please note that the information you are viewing is
138 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: 2013-09-23
Data version: 2
Age of data: 138 months
Key Statistics
Outstanding portfolio (KES) | KES 340,903,475 |
Portfolio (USD) | USD 4,117,191.73 |
Active Clients with Loans | 6,820 |
Approximate % Female Clients | 0% - 20% |
Approximate % Urban Clients | 40% - 60% |
Methodology
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other | |
Description
This is a means of financing insurance premium payments. The Bank finances the annual premium for the borrower and he/she pays the monthly instalments for the amount advanced.
Loan Purpose
Any purpose | |
Income generation | |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | Can only be used for financing insurance premiums. |
Other (2) | |
Included Services
Credit education | |
Group meetings | |
Credit insurance | |
Workplace visits | |
Business training | |
Other training | |
Other | |
Other (2) | |
No other services | x |
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 | 8 |
# Regions for this product | 8 |
Regions Active | Central, Coast, Eastern, Nairobi, North Eastern, Nyanza, Rift Valley, Western |
Loan Conditions
Loan Amount
Currency | KES |
Minimum loan size | KES 5,000 |
Maximum loan size | 4,000,000,000 |
Distribution at Disbursement (Est.)
Loans less than KES 50,000 | 40% |
KES 50,000-150,000 | 40% |
KES 150,000-250,000 | 10% |
KES 250,000-350,000 | 5% |
KES 350,000-450,000 | 5% |
Greater than KES 450,000 | 5% |
Loan Term and Grace Period
Shortest loan term | 4.0 months |
Longest loan term | 10.0 months |
Approx average | 7.0 months |
Distribution at Disbursement (Est.)
Loans 3 months or less | 0 |
Between 4 and 6 months | 0 |
Between 7 and 9 months | 10% |
Between 10 and 12 months | 90% |
Between 13 and 18 months | 0 |
Longer than 18 months | 0 |
Grace Period
Grace period usage | 0 |
Average grace period | 0 |
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 | 1.05% |
Highest quoted nominal interest | 1.13% |
Reason(s) why interest rate varies | Loan Size, Client Risk |
Interest rate period | Monthly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Upfront Fees
This product has no upfront feesOngoing Fees
This product has no ongoing feesUpfront Insurance Fees
This product has no upfront insurance feesOngoing Insurance Fees
This product has no ongoing insurance fees
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
Loan amounts and interest rates different for wholesale. The product is structured in a way that the client pays for one installment upfront. This is why the first installment is almost immediately after disbursement and since the policy acts as the security, the installment caters for the period between lodging the claim to insurance and payment in case of default.
Full Pricing Data
Insurance Premium Finance Loan samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 | | Sample 5 |
---|
Loan Amount | KES 12,978 | | KES 28,126 | | KES 45,102 | | KES 101,957 | | KES 295,865 |
Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known | | Not Known |
Disbursement Date | 2013-08-20 | | 2013-09-03 | | 2013-09-03 | | 2013-09-03 | | 2013-09-03 |
Loan Term (Months) | 9.0 months | | 9.0 months | | 10.0 months | | 10.0 months | | 10.0 months |
Grace Period (Months) | 0.0 months | | 0.0 months | | 0.0 months | | 0.0 months | | 0.0 months |
Total Cost of Credit | KES 1,362.69 | | KES 2,953.23 | | KES 4,735.71 | | KES 10,705.49 | | KES 31,065.82 |
True Price by Comp | | | | | | | | | |
Interest price component | 27.2% | | 27.2% | | 27.3% | | 27.3% | | 27.3% |
Fee Component | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% |
Insurance Component | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% |
Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% |
Deposit Component | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% |
Full APR (int fee ins tax dep) | 27.2% | | 27.2% | | 27.3% | | 27.3% | | 27.3% |
Transparency Index | 46 | | 46 | | 46 | | 46 | | 46 |
| | | | | | | | | |
Original Repayment Schedule | PDF | | PDF | | PDF | | PDF | | PDF |
MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF | | PDF |
Insurance Premium Finance Loan Price Graphs