Institution Type | Non-Governmental Organization |
Is this institution regulated? | Yes |
Website address | http://www.asomi.co.in/ |
Year established | 2008 |
Head of Institution | Subhrajyoti Bharali |
Regions active | |
# Branches | 50 |
Total Portfolio (nat'l) | INR 251,500,000 |
Total Portfolio (USD) | USD 4,745,283.02 |
Active clients with loans | 50,326 |
Approximate % female clients | 80% - 100% |
Approximate % urban clients | 0% - 20% |
Network affiliations |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Entrepreneurship Development Loan | INR 25,000 - 50,000 | 10 - 12 | 0% - 20% | 0% - 20% | Business | Women, Men, Have business | Credit Educ, Credit Ins, Tech Asst Visits, Business Training | |||||||
SHG Loan | INR 5,000 - 25,000 | 12 | 60% - 80% | 0% - 20% | Business | Women | Group Mtgs, Tech Asst Visits, Business Training |
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 | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Entrepreneurship Development Loan | 0% | 33% | 45.6% | N/A | ||||||||||
SHG Loan | 0% | 28.8% - 29.2% | 39.4% - 40.7% | N/A |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Entrepreneurship Development Loan | 16.0% annual, Flat | 1 Fee | 1 Ins | None | 15.0% upfront | 33% | 45.6% | 35 | ||||||||
SHG Loan | 15.0% annual, Flat | 1 Fee | 1 Ins | None | 15.0% upfront | 28.8% - 29.2% | 39.4% - 40.7% | 37 |
Outstanding portfolio (PKR) | PKR 943,230,382.30 |
Portfolio (USD) | USD 9,262,522.35 |
Active Clients with Loans | 11,506 |
Approximate % Female Clients | 0% - 20% |
Approximate % Urban Clients | 80% - 100% |
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 | x |
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 | 3 |
# Regions for this product | 3 |
Regions Active | Khyber Pakhtunkwa, Punjab, Sindh |
Currency | PKR |
Minimum loan size | PKR 50,000 |
Maximum loan size | 150,000 |
Loans less than PKR 10,000 | 0 |
PKR 10,000-25,000 | 0 |
PKR 25,000-50,000 | 0 |
PKR 50,000-75,000 | 40% |
PKR 75,000-150,000 | 60% |
Greater than PKR 150,000 | 60% |
Shortest loan term | 12.0 months |
Longest loan term | 12.0 months |
Approx average | 12.0 months |
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 usage | 0 |
Average grace period | 0 |
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 | x |
Lowest quoted nominal interest | 27.00% |
Highest quoted nominal interest | 28.00% |
Reason(s) why interest rate varies | %age of limit utlized. |
Interest rate period | Yearly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | No |
Fee 1 | |
---|---|
Description | Processing Fee |
% of loan amount - min | 0 |
% of loan amount - max | 0 |
OR, Fixed amount - min | 1,500 |
Fixed amount - max | 2,500 |
Reason for variation | for fresh clients as high as 2500, for repeatg clients as low as 1500 |
Appears on Repayment Sched? | Yes |
Ins 1 | |
---|---|
Description | Insurance Fee |
% of loan amount - min | 0.07% |
% of loan amount - max | 0.07% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | Yes |
Required for | Never |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | N/A |
Do borrowers control deposit in their group? | N/A |
% loan amount deposited | N/A |
or, Fixed-amount deposited | N/A |
% loan amount deposited | N/A |
or, Fixed-amount deposited | N/A |
Conditions on access to deposit | N/A |
Minimum interest rate paid | N/A |
Maximum interest rate paid | N/A |
Interest payment frequency | N/A |
Are taxes charged on this product? | Yes |
Percentage of fees | 16% |
All or some fees taxed | Some |
Loan Amount |
Type of Sample |
Disbursement Date |
Loan Term (Months) |
Grace Period (Months) |
Total Cost of Credit |
Full APR (int fee ins tax dep) |
True Price by Component |
Transparency Index |
Original Repayment Schedule |
MFT Pricing Calculation |
||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Interest price component |
Fee Component |
Insurance Component |
Tax Component |
Deposit Component |
||||||||||
PKR 50,000 | Generated | 2015-06-01 | 12.0 months | N/A | PKR 16,627.10 | 33.2% | 29.6% | 2.3% | 0.9% | 0.4% | 0.0% | 81 | - | |
PKR 55,000 | Generated | 2015-06-01 | 12.0 months | N/A | PKR 18,202.30 | 33.2% | 28.7% | 3.1% | 0.8% | 0.6% | 0.0% | 81 | - | |
PKR 60,000 | Generated | 2015-06-01 | 12.0 months | N/A | PKR 19,698.87 | 32.8% | 28.7% | 2.8% | 0.9% | 0.4% | 0.0% | 82 | - | |
PKR 76,000 | Generated | 2015-06-01 | 12.0 months | N/A | PKR 25,465.82 | 33.8% | 27.7% | 4.5% | 0.9% | 0.7% | 0.0% | 80 | - | |
PKR 80,000 | Generated | 2015-06-01 | 12.0 months | N/A | PKR 26,622.97 | 33.6% | 27.7% | 4.3% | 0.9% | 0.7% | 0.0% | 80 | - | |
PKR 90,000 | Generated | 2015-06-01 | 12.0 months | N/A | PKR 29,515.84 | 33.0% | 27.7% | 3.8% | 0.9% | 0.6% | 0.0% | 82 | - | |
PKR 100,000 | Generated | 2015-06-01 | 12.0 months | N/A | PKR 32,408.71 | 32.5% | 27.7% | 3.4% | 0.9% | 0.5% | 0.0% | 83 | - | |
PKR 125,000 | Generated | 2015-06-01 | 12.0 months | N/A | PKR 39,640.89 | 31.7% | 27.7% | 2.7% | 0.9% | 0.4% | 0.0% | 85 | - |
Key Statistics | |
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# 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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