Institution Type | Non Bank Financial Institution |
Is this institution regulated? | Yes |
Website address | http://www.asmithamicrofin.com/ |
Year established | 2001 |
Head of Institution | Dr. Vidya Sravanthi |
Regions active | Andhra Pradesh, Bihar, Chhattisgarh, Goa, GujaratJharkhand, Karnataka, Madhya Pradesh, Maharashtra, Orissa, Rajasthan, Tamil Nadu, Uttar Pradesh, West Bengal |
# Branches | 509 |
Total Portfolio (nat'l) | INR 12,057,425,495 |
Total Portfolio (USD) | USD 227,498,594.20 |
Active clients with loans | 1,136,100 |
Approximate % female clients | 80% - 100% |
Approximate % urban clients | 0% - 20% |
Network affiliations | Sa-Dhan, MFIN, AKMI, MIX Market |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Joint Laibility Group Loan (JLG Loan) | INR 14,999 - 35,000 | 12 - 24 | 80% - 100% | 0% - 20% | Business | Women, Have business, Have home or land, Low HH Inc, Med HH Inc, Rural HH, Urban HH | Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Other Training, National Pension Scheme collabaration with LIC. |
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 | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Joint Laibility Group Loan (JLG Loan) | 25.7% - 26% | 26.8% - 28.1% | 29.3% - 30.5% | Yes | Yes | Yes | 92 |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Joint Laibility Group Loan (JLG Loan) | 24.0%-26.0% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 26.8% - 28.1% | 29.3% - 30.5% | 80 |
Outstanding portfolio (KES) | KES 8,926,006.49 |
Portfolio (USD) | USD 107,802.01 |
Active Clients with Loans | 242 |
Approximate % Female Clients | 40% - 60% |
Approximate % Urban Clients | 20% - 40% |
Individual | |
Solidarity group | x |
Village banking | |
Self help group | |
Other |
Any purpose | |
Income generation | |
Mortgage/housing | |
Consumer loan | |
Agriculture | x |
Education | |
Other household finance | |
Other | Improvement to shed, purchase of cow, chaff-cutter |
Other (2) |
Credit education | x |
Group meetings | x |
Credit insurance | x |
Workplace visits | x |
Business training | x |
Other training | x |
Other | Health insurance - optional |
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 | Farmers only |
Other (2) |
# Regions for this institution | 5 |
# Regions for this product | 5 |
Regions Active | Central, Eastern, Nairobi, Rift Valley, Western |
Currency | KES |
Minimum loan size | KES 10,000 |
Maximum loan size | 300,000 |
Loans less than KES 50,000 | 100% |
KES 50,000-150,000 | 0 |
KES 150,000-250,000 | 0 |
KES 250,000-350,000 | 0 |
KES 350,000-450,000 | 0 |
Greater than KES 450,000 | 0 |
Shortest loan term | 3.0 months |
Longest loan term | 18.0 months |
Approx average | 11.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 10% |
Between 7 and 9 months | 10% |
Between 10 and 12 months | 70% |
Between 13 and 18 months | 10% |
Longer than 18 months | 0 |
Grace period usage | 30% |
Average grace period | 1.0 month |
Daily | |
Weekly | x |
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 | 22.00% |
Highest quoted nominal interest | 22.00% |
Interest rate period | Yearly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Fee 1 | |
---|---|
Description | Loan Processing Fee |
% of loan amount - min | 1.00% |
% of loan amount - max | 1.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | No |
Ins 1 | |
---|---|
Description | Insurance Fee |
% of loan amount - min | 2.00% |
% of loan amount - max | 2.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | No |
Required for | All |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | No |
Do borrowers control deposit in their group? | No |
% loan amount deposited | 20.00% |
or, Fixed-amount deposited | 0 |
% loan amount deposited | 0 |
or, Fixed-amount deposited | KES 100 |
Conditions on access to deposit | Access During |
Minimum interest rate paid | 0.50% |
Maximum interest rate paid | 0.50% |
Interest payment frequency | End Term |
Are taxes charged on this product? | No |
Sample 2 | Sample 3 | Sample 4 | Sample 5 | ||||
---|---|---|---|---|---|---|---|
Loan Amount | KES 20,000 | KES 50,000 | KES 99,000 | KES 220,000 | |||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
Disbursement Date | 2013-02-20 | 2013-02-04 | 2013-06-05 | 2013-02-26 | |||
Loan Term (Months) | 6.0 months | 13.0 months | 12.0 months | 12.0 months | |||
Grace Period (Months) | 0.2 months | 0.5 months | 0.2 months | 0.2 months | |||
Total Cost of Credit | KES 2,800 | KES 12,500 | KES 24,750 | KES 55,000 | |||
True Price by Comp | |||||||
Interest price component | 38.1% | 37.3% | 38.9% | 38.9% | |||
Fee Component | 3.7% | 1.9% | 2.0% | 2.0% | |||
Insurance Component | 7.6% | 4.0% | 4.2% | 4.2% | |||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
Deposit Component | 38.3% | 27.8% | 26.2% | 24.1% | |||
Full APR (int fee ins tax dep) | 87.7% | 71.0% | 71.3% | 69.2% | |||
Transparency Index | 25 | 31 | 31 | 32 | |||
Original Repayment Schedule | |||||||
MFT Pricing Calculation |
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% Products with compulsory deposits |
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