| Number borrowers | 231 |
| Loan Amount (range) | INR 10,000 - 50,000 |
| Loan Term (range) | 12 - 24 |
| Other Services (text summary) | Credit Educ, Group Mtgs, Tech Asst Visits, Business Training, Other Training, Group Leadership Training |
| Annual Interest & Method | 22.9% annual, Decl Bal |
| Fees | 1.00% upfront |
| Insurance | 0.47%-0.97% upfront |
| Tax | 12.36% fees |
| Comp Dep | N/A |
| Range of pricing | |
| Interest Price Component | 19.8% - 23.8% |
| Fee Component | 0.9% - 2.2% |
| Insurance Component | 0 - 1.1% |
| Tax Component Range | 0.1% - 0.3% |
| Full APR (int fee ins tax dep) | 24.7% - 26.4% |
| Transparency Index (min/max) | 87 - 93 |
| Transparency Index (average) | 90 |
| 8,350 |
| KES 10,000 - 500,000 |
| 6 - 36 |
| Credit Educ, Group Mtgs, Credit Ins, Other Training, Fire/Burglary Insurance |
| 22.0% annual, Flat |
| 500.00-0.00 upfront upfront |
| 1.60%-3.00% upfront |
| None |
| 20.0% upfront 100.00 ongoing |
| 29.8% - 41.0% |
| 2.6% - 20.5% |
| 1.8% - 6.9% |
| 0 |
| 64.2% - 135.0% |
| 16 - 36 |
| 26 |
| Outstanding portfolio (INR) | INR 4,303,387 |
| Portfolio (USD) | USD 81,195.98 |
| Active Clients with Loans | 231 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 20% - 40% |
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other | Group Based indivudual lending |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) |
| Credit education | x |
| Group meetings | x |
| Credit insurance | |
| Workplace visits | x |
| Business training | x |
| Other training | x |
| Other | Group Leadership Training |
| 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 | x |
| Household income <60,000 INR | x |
| Household income <120,000 INR | x |
| Must live in rural area | x |
| Must lives in urban area | x |
| Other | Must have an access to waterland |
| Other (2) |
| # Regions for this institution | 18 |
| # Regions for this product | 1 |
| Regions Active | West Bengal |
| 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% |
| Individual | |
| Solidarity group | x |
| Village banking | x |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) |
| 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 |
| 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) |
| # Regions for this institution | 4 |
| # Regions for this product | 4 |
| Regions Active | Nairobi, Nyanza, Rift Valley, Western |
| Currency | INR |
| Minimum loan size | INR 10,000 |
| Maximum loan size | 50,000 |
| Loans less than INR 5,000 | 0 |
| INR 5,000-15,000 | 10% |
| INR 15,000-25,000 | 80% |
| INR 25,000-35,000 | 5% |
| INR 35,000-45,000 | 5% |
| Greater than INR 45,000 | 5% |
| Shortest loan term | 12.0 months |
| Longest loan term | 24.0 months |
| Approx average | 24.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 0 |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 0 |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 100% |
| Grace period usage | 100% |
| Average grace period | 3.0 months |
| 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 |
| Currency | KES |
| Minimum loan size | KES 10,000 |
| Maximum loan size | 500,000 |
| 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% |
| Shortest loan term | 6.0 months |
| Longest loan term | 36.0 months |
| Approx average | DK |
| 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 usage | 10% |
| Average grace period | DK |
| 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 |
| Lowest quoted nominal interest | 22.90% |
| Highest quoted nominal interest | 22.90% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | 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 | Service Tax Extra |
| Appears on Repayment Sched? | Yes |
| Ins 1 | |
|---|---|
| Description | Life Insurance |
| % of loan amount - min | 0.47% |
| % of loan amount - max | 0.97% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | 4.68 / 9.68 Rs per thousand of loan for 1 and 2 year respectively |
| 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 | 12.4% |
| All or some fees taxed | Some |
| 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 |
| 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 |
| 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 |
| 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 | 1.00% |
| Maximum interest rate paid | 1.00% |
| Interest payment frequency | Annually |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | INR 10,000 | INR 20,000 | INR 30,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2012-10-16 | 2012-09-18 | 2012-10-31 | ||
| Loan Term (Months) | 12.0 months | 24.0 months | 24.0 months | ||
| Grace Period (Months) | -0.3 months | 0.0 months | -0.1 months | ||
| Total Cost of Credit | INR 1,704.16 | INR 5,996.32 | INR 9,006.48 | ||
| True Price by Comp | |||||
| Interest price component | 23.8% | 22.7% | 22.9% | ||
| Fee Component | 1.6% | 1.0% | 0.9% | ||
| Insurance Component | 0.8% | 0.9% | 1.0% | ||
| Tax Component | 0.2% | 0.1% | 0.1% | ||
| Deposit Component | 0.0% | 0.0% | 0.0% | ||
| Full APR (int fee ins tax dep) | 26.4% | 24.7% | 24.9% | ||
| MFIN MFI Earning (Annualised) | 25.4% | 23.7% | 23.8% | ||
| MFIN Cost to Borrower (Annualised) | 26.4% | 24.7% | 24.9% | ||
| Transparency Index | 87 | 93 | 92 | ||
| MFIN Transparency Index | 96 | 100 | 100 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| 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 | |||||||||
| MFT Pricing Calculation |
| 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 |
| Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
|---|---|---|---|---|---|---|---|
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