Please note that the information you are viewing is
171 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: 171 months
Institution Type | Non Bank Financial Institution |
Is this institution regulated? | Yes |
Website address | N/A |
Year established | 1996 |
Head of Institution | Pramod Kumar Paliwal |
Regions active | |
# Branches | 10 |
Total Portfolio (nat'l) | INR 98,799,721 |
Total Portfolio (USD) | USD 1,864,145.68 |
Active clients with loans | 13,170 |
Approximate % female clients | 80% - 100% |
Approximate % urban clients | 20% - 40% |
Network affiliations | |
152 Borrowers
USD 101,146.23 Portfolio
Active Product
2,758 Borrowers
USD 509,913.58 Portfolio
Active Product
Loan Products » Conditions
Product Name |
|
Loan Size Range |
|
Loan Term (months) |
|
% Female |
|
% Urban |
|
Loan Purpose |
|
Eligibility |
|
Other Services |
Sampda |
|
INR 35,000 - 35,000 |
|
16 |
|
80% - 100% |
|
20% - 40% |
|
Business, Can only be used for FIXED assets, Asset Creation of Borrower's Choice |
|
Women |
|
Credit Educ, Group Mtgs, Credit Ins, Business Training |
Shahyog |
|
INR 10,000 - 16,000 |
|
12 |
|
80% - 100% |
|
20% - 40% |
|
Business, Housing |
|
Women |
|
Credit Educ, Group Mtgs, Credit Ins, 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 |
Sampda |
|
0% |
|
29.2% |
|
32.4% |
|
|
|
|
|
|
|
N/A |
Shahyog |
|
0% |
|
31.7% |
|
35.9% |
|
|
|
|
|
|
|
N/A |
Loan Products » Pricing Information
Product Name |
|
Annual Nominal Interest |
|
Fees |
|
Insurance |
|
Taxes |
|
Compulsory Deposit |
|
APR (int+fee) |
|
Full APR |
|
Transparency Index |
Sampda |
|
14.0% annual, Flat |
|
1 Fee |
|
1 Ins |
|
None |
|
N/A |
|
29.2% |
|
32.4% |
|
43 |
Shahyog |
|
15.0% annual, Flat |
|
1 Fee |
|
1 Ins |
|
None |
|
N/A |
|
31.7% |
|
35.9% |
|
42 |
Please note that the information you are viewing is
141 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: 2013-05-31
Data version: 2
Age of data: 141 months
Key Statistics
Outstanding portfolio (KES) | KES 354,023,376 |
Portfolio (USD) | USD 4,275,644.64 |
Active Clients with Loans | 8,350 |
Approximate % Female Clients | 40% - 60% |
Approximate % Urban Clients | 60% - 80% |
Methodology
Individual | |
Solidarity group | x |
Village banking | x |
Self help group | |
Other | |
Description
Given to large groups between 15 and 40 members. Customers must have been in business for at least 12 months. No lease agreements or other documents are required. The group and the loan officer assess the capacity of the loan.
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 | |
Business training | |
Other training | x |
Other | Fire/Burglary Insurance |
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 | Must have run a business for at least 12 months |
Other (2) | |
Portfolio Size by Product
Geographic Coverage
# Regions for this institution | 4 |
# Regions for this product | 4 |
Regions Active | Nairobi, Nyanza, Rift Valley, Western |
Loan Conditions
Loan Amount
Currency | KES |
Minimum loan size | KES 10,000 |
Maximum loan size | 500,000 |
Distribution at Disbursement (Est.)
Loans less than KES 50,000 | 30% |
KES 50,000-150,000 | 40% |
KES 150,000-250,000 | 20% |
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 | 6.0 months |
Longest loan term | 36.0 months |
Approx average | DK |
Distribution at Disbursement (Est.)
Loans 3 months or less | 0 |
Between 4 and 6 months | 20% |
Between 7 and 9 months | 15% |
Between 10 and 12 months | 50% |
Between 13 and 18 months | 15% |
Longer than 18 months | 0 |
Grace Period
Grace period usage | 10% |
Average grace period | DK |
Repayment Frequency
Daily | |
Weekly | x |
Every 2 weeks | x |
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 | 22.00% |
Highest quoted nominal interest | 22.00% |
Reason(s) why interest rate varies | Branch, Time as Client |
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 | Loan Application Fee | | Chattels Fee |
% of loan amount - min | 0 | | 0 |
% of loan amount - max | 2.00% | | 0 |
OR, Fixed amount - min | 500 | | 0 |
Fixed amount - max | 0 | | 1,300 |
Reason for variation | 2% with KES 500 minimum | | Only on loans over KES 100,000 |
Appears on Repayment Sched? | Yes | | Yes |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 |
---|
Description | Insurance Fee |
% of loan amount - min | 1.60% |
% of loan amount - max | 3.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | <12 month =1.6%, 13-24 months=1.75%, 25+ months=3%. Either upfront or continuing. |
Appears on Repayment Sched? | Yes |
Ongoing Insurance Fees
This product has no ongoing insurance fees
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 | 20.00% |
or, Fixed-amount deposited | 0 |
Deposits DURING period payments
% loan amount deposited | 0 |
or, Fixed-amount deposited | KES 100 |
Conditions on access to deposit | Access During |
Interest Paid on Deposit
Minimum interest rate paid | 1.00% |
Maximum interest rate paid | 1.00% |
Interest payment frequency | Annually |
Taxes
Are taxes charged on this product? | No |
Additional Comments
Interest rate revised to 20% flat as of 17-June-2013.
Full Pricing Data
Msingi Loan samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 | | Sample 5 |
---|
Loan Amount | KES 10,000 | | KES 20,000 | | KES 47,000 | | KES 100,000 | | KES 300,000 |
Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known | | Not Known |
Disbursement Date | 2013-05-30 | | 2013-05-30 | | 2013-05-29 | | 2013-05-02 | | 2013-05-08 |
Loan Term (Months) | 5.8 months | | 6.0 months | | 12.0 months | | 12.0 months | | 18.0 months |
Grace Period (Months) | 0.2 months | | 0.2 months | | 0.7 months | | 0.5 months | | 0.7 months |
Total Cost of Credit | KES 1,714.79 | | KES 3,013.97 | | KES 12,168.66 | | KES 25,539.73 | | KES 113,006.52 |
True Price by Comp | | | | | | | | | |
Interest price component | 39.3% | | 39.3% | | 38.5% | | 38.7% | | 38.4% |
Fee Component | 20.5% | | 9.8% | | 4.0% | | 4.1% | | 3.4% |
Insurance Component | 6.9% | | 6.4% | | 2.6% | | 3.3% | | 1.8% |
Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% |
Deposit Component | 68.3% | | 42.2% | | 27.5% | | 25.9% | | 20.6% |
Full APR (int fee ins tax dep) | 135.0% | | 97.7% | | 72.6% | | 72.0% | | 64.2% |
Transparency Index | 16 | | 23 | | 30 | | 31 | | 34 |
| | | | | | | | | |
Original Repayment Schedule | PDF | | PDF | | PDF | | PDF | | PDF |
MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF | | PDF |