| Institution Type | Non Bank Financial Institution |
| Is this institution regulated? | Yes |
| Website address | http://www.asirvadmicrofinance.co.in/ |
| Year established | 2007 |
| Head of Institution | S.V. Raja Vaidyanathan |
| Regions active | Tamil Nadu |
| # Branches | 64 |
| Total Portfolio (nat'l) | INR 1,024,421,625 |
| Total Portfolio (USD) | USD 19,328,709.91 |
| Active clients with loans | 113,512 |
| Approximate % female clients | 100% |
| Approximate % urban clients | 100% |
| Network affiliations | MFIN, SaDhan |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Generation Program Loan | INR 7,500 - 15,000 | 12 - 18 | 80% - 100% | 80% - 100% | Business | Women | Credit Educ, Group Mtgs, Credit Ins |
| 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Generation Program Loan | 25.3% - 25.8% | 26.7% - 27.2% | 28.9% - 29.5% | Yes | Yes | Info awaited | 100 |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Generation Program Loan | 26.0% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 26.7% - 27.2% | 28.9% - 29.5% | 89 |
| Outstanding portfolio (GHS) | GHS 1,115,029 |
| Portfolio (USD) | USD 566,004.57 |
| Active Clients with Loans | 2,211 |
| Approximate % Female Clients | 60% - 80% |
| Approximate % Urban Clients | 0% - 20% |
| Individual | x |
| 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 | x |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | |
| Other (2) | |
| No other services |
| 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 | 2 |
| # Regions for this product | 2 |
| Regions Active | Greater Accra Region, Ashanti Region |
| Currency | GHS |
| Minimum loan size | GHS 500 |
| Maximum loan size | 1,000 |
| Loans less than GHS 1,000 | 100% |
| GHS 1,000-5,000 | 0 |
| GHS 5,000-7,500 | 0 |
| GHS 7,500-10,000 | 0 |
| GHS 10,000-13,000 | 0 |
| Greater than GHS 13,000 | 0 |
| Shortest loan term | 4.0 months |
| Longest loan term | 6.0 months |
| Approx average | dk |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 100% |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 0 |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
| Grace period usage | 100% |
| Average grace period | 1.0 month |
| Daily | x |
| Weekly | x |
| Every 2 weeks | x |
| Every 4 weeks | |
| Monthly | |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments |
| Lowest quoted nominal interest | 3.00% |
| Highest quoted nominal interest | 8.00% |
| Reason(s) why interest rate varies | Client Risk |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | Processing Fee |
| % of loan amount - min | 3.00% |
| % of loan amount - max | 3.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | Yes |
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | Yes |
| Do borrowers control deposit in their group? | No |
| % loan amount deposited | 10.00% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | When Leaving |
| Minimum interest rate paid | 4.00% |
| Maximum interest rate paid | 4.00% |
| Interest payment frequency | End Term |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | GHS 750 | GHS 800 | GHS 850 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2013-01-25 | 2013-03-02 | 2013-02-20 | ||
| Loan Term (Months) | 5.0 months | 3.0 months | 5.0 months | ||
| Grace Period (Months) | 1.5 months | 0.9 months | 1.3 months | ||
| Total Cost of Credit | GHS 135.50 | GHS 96 | GHS 153.50 | ||
| True Price by Comp | |||||
| Interest price component | 51.1% | 51.0% | 53.3% | ||
| Fee Component | 11.2% | 18.1% | 11.7% | ||
| Insurance Component | 0.0% | 0.0% | 0.0% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 9.8% | 11.1% | 10.7% | ||
| Full APR (int fee ins tax dep) | 72.1% | 80.2% | 75.7% | ||
| Transparency Index | 50 | 45 | 48 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
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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 |
| Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
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