Asomi Finance Private Limited - Entrepreneurship Development Loan - MFTransparency.org Truth In Lending Tables

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Institution

Asomi Finance Private Limited 2nd Floor, Above SBI ATMBharalumukhGuwahati, Assam781009

Data approved: 2010-10-25

Data version: 1

Age of data: 173 months

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Product

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Product Details

Key Statistics

Outstanding portfolio (INR)	INR 12,800,000
Portfolio (USD)	USD 241,509.43
Active Clients with Loans	1,301
Approximate % Female Clients	0% - 20%
Approximate % Urban Clients	0% - 20%

Methodology

Individual	x
Solidarity group
Village banking
Self help group
Other

Description

Individual Loan for Entrepreneurship Development

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
Credit insurance	x
Workplace visits	x
Business training	x
Other training
Other
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
Household income <60,000 INR
Household income <120,000 INR
Must live in rural area
Must lives in urban area
Other
Other (2)

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

# Regions for this institution	N/A
# Regions for this product	N/A
Regions Active

Loan Conditions

Loan Amount

Currency	INR
Minimum loan size	INR 25,000
Maximum loan size	50,000

Loan Term and Grace Period

Shortest loan term	10.0 months
Longest loan term	12.0 months
Approx average	0

Distribution at Disbursement (Est.)

Loans 3 months or less	0
Between 4 and 6 months	0
Between 7 and 9 months	0
Between 10 and 12 months	100%
Between 13 and 18 months	0
Longer than 18 months	0

Grace Period

Grace period usage	10%
Average grace period	DK

Repayment Frequency

Daily	x
Weekly
Every 2 weeks
Every 4 weeks
Monthly
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest

Lowest quoted nominal interest	16.00%
Highest quoted nominal interest	16.00%
Interest rate period	Yearly
Interest Rate Calculation Method	Flat
Subsidized by funder request?
Is rate fixed for entire loan term	Yes

Upfront Fees

	Fee 1
Description	Documentation Charge
% of loan amount - min	0
% of loan amount - max	0
OR, Fixed amount - min	30
Fixed amount - max	30
Reason for variation
Appears on Repayment Sched?	No

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

	Ins 1
Description	Insurance
% of loan amount - min	0
% of loan amount - max	0
OR, Fixed amount - min	50
Fixed amount - max	50
Reason for variation	N/A
Appears on Repayment Sched?	No

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?
Do borrowers control deposit in their group?

Deposit BEFORE or AT Disbursement

% loan amount deposited	15.00%
or, Fixed-amount deposited	0

Deposits DURING period payments

% loan amount deposited	0 - 15.00%
or, Fixed-amount deposited	0
Conditions on access to deposit	End Term

Interest Paid on Deposit

Minimum interest rate paid	0
Maximum interest rate paid	0
Interest payment frequency	N/A

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Full Pricing Data

Entrepreneurship Development Loan samples

	Sample 1
Loan Amount	INR 25,000
Loan Cycle (1, 2, 3, etc)	3
Disbursement Date	2010-03-12
Loan Term (Months)	9.7 months
Grace Period (Months)	0
Total Cost of Credit	Not Known
True Price by Comp
Interest and Fee Component	33.0%
Insurance Component	0.5%
Tax Component	0
Deposit Component	12.2%
Full APR (int fee ins tax dep)	45.6%
MFIN MFI Earning (Annualised)	33.0%
MFIN Cost to Borrower (Annualised)	45.6%
Transparency Index	35
MFIN Transparency Index	N/A

Original Repayment Schedule	PDF
MFT Pricing Calculation	PDF

* The APR stated here is an MFTransparency term, definition and formula

Entrepreneurship Development Loan Price Graphs

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Key Statistics
# Samples:
# Products
# Institutions
# Countries
# Borrowers
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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Total Borrrowers of Samples


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