Institution Type | Non Bank Financial Institution |
Is this institution regulated? | Yes |
Website address | http://www.belstar.in |
Year established | 2009 |
Head of Institution | Dr.Kalpana sankar |
Regions active | Madhya Pradesh, Tamil Nadu, Puducherry |
# Branches | 64 |
Total Portfolio (nat'l) | INR 1,269,117,806 |
Total Portfolio (USD) | USD 23,945,618.98 |
Active clients with loans | 123,092 |
Approximate % female clients | 100% |
Approximate % urban clients | 0% - 20% |
Network affiliations | Microfinance Institutions Network - MFIN |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Micro Enterprise Loan | INR 12,000 - 30,000 | 13 - 25 | 100% | 0% - 20% | Business, Agriculture | Women, Specific age group, Low HH Inc, Med HH Inc, Must be a Member of an SHG, Must be in the age group of 18 to 60 years. | Credit Educ, Group Mtgs, Credit Ins, Business Training | |||||||
Educational Loan | INR 11,000 - 11,000 | 12 | 100% | 0% - 20% | Education | Women, Specific age group, Low HH Inc, Med HH Inc | 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 | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Micro Enterprise Loan | 24.7% - 26.4% | 25.7% - 28% | 26.7% - 29% | 100 | ||||||||||
Educational Loan | 24.7% | 26.5% | 28% | 100 |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Micro Enterprise Loan | 25.0% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 25.7% - 28% | 26.7% - 29% | 91 | ||||||||
Educational Loan | 25.0% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 26.5% | 28% | 89 |
Outstanding portfolio (KES) | KES 275,501,067 |
Portfolio (USD) | USD 3,327,307.57 |
Active Clients with Loans | 6,296 |
Approximate % Female Clients | 40% - 60% |
Approximate % Urban Clients | 0% - 20% |
Individual | x |
Solidarity group | x |
Village banking | |
Self help group | |
Other |
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | x |
Education | |
Other household finance | |
Other | Improve the structure used to house dairy cows |
Other (2) |
Credit education | x |
Group meetings | x |
Credit insurance | x |
Workplace visits | x |
Business training | x |
Other training | |
Other | Optional low-cost life insurance through CIC, KES 3290pa |
Other (2) | |
No other services |
Men | x |
Women | x |
Must run a business | |
Must own a home or land | x |
Must be a salaried worker | |
Must be specific age group | |
Other | Must be a farmer |
Other (2) |
# Regions for this institution | 5 |
# Regions for this product | 5 |
Regions Active | Central, Eastern, Nyanza, Rift Valley, Western |
Currency | KES |
Minimum loan size | KES 30,000 |
Maximum loan size | 500,000 |
Loans less than KES 50,000 | 80% |
KES 50,000-150,000 | 15% |
KES 150,000-250,000 | 5% |
KES 250,000-350,000 | 0 |
KES 350,000-450,000 | 0 |
Greater than KES 450,000 | 0 |
Shortest loan term | 12.0 months |
Longest loan term | 24.0 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 | 60% |
Between 13 and 18 months | 30% |
Longer than 18 months | 10% |
Grace period usage | 100% |
Average grace period | 2.0 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 | x |
Lowest quoted nominal interest | 32.00% |
Highest quoted nominal interest | 32.00% |
Reason(s) why interest rate varies | Changing all interest rates from 16% to 18% in Jan 2010 |
Interest rate period | Yearly |
Interest Rate Calculation Method | Decl Bal |
Subsidized by funder request? | Yes |
Is rate fixed for entire loan term | Yes |
Fee 1 | Fee 2 | ||
---|---|---|---|
Description | Loan Application Fee | Registration Fee | |
% of loan amount - min | 1.00% | 0 | |
% of loan amount - max | 1.00% | 0 | |
OR, Fixed amount - min | 0 | 500 | |
Fixed amount - max | 0 | 500 | |
Reason for variation | N/A | N/A | |
Appears on Repayment Sched? | Yes | Yes |
Ins 1 | Ins 2 | ||
---|---|---|---|
Description | Loan Insurance Fee | Livestock Insurance Fee | |
% of loan amount - min | 1.00% | 4.00% | |
% of loan amount - max | 2.00% | 4.00% | |
OR, Fixed amount - min | 0 | 0 | |
Fixed amount - max | 0 | 0 | |
Reason for variation | 1% of the loan amount p.a | N/A | |
Appears on Repayment Sched? | Yes | 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 | 15.00% |
or, Fixed-amount deposited | 0 |
% loan amount deposited | 0 |
or, Fixed-amount deposited | 0 |
Conditions on access to deposit | Access During |
Minimum interest rate paid | 0 |
Maximum interest rate paid | 0 |
Interest payment frequency | N/A |
Are taxes charged on this product? | No |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | |||||
---|---|---|---|---|---|---|---|---|---|
Loan Amount | KES 26,000 | KES 50,000 | KES 100,000 | KES 200,000 | KES 300,000 | ||||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | ||||
Disbursement Date | 2013-03-12 | 2013-03-12 | 2013-03-12 | 2013-05-30 | 2013-04-29 | ||||
Loan Term (Months) | 11.0 months | 11.0 months | 14.0 months | 24.0 months | 24.0 months | ||||
Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | 0.0 months | 0.0 months | ||||
Total Cost of Credit | KES 6,740 | KES 12,501 | KES 29,179 | KES 87,149 | KES 130,474 | ||||
True Price by Comp | |||||||||
Interest price component | 33.4% | 33.4% | 33.5% | 31.7% | 31.8% | ||||
Fee Component | 6.2% | 4.2% | 2.6% | 1.3% | 1.2% | ||||
Insurance Component | 11.2% | 11.0% | 9.5% | 6.9% | 6.9% | ||||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||||
Deposit Component | 17.0% | 16.3% | 15.1% | 12.5% | 12.5% | ||||
Full APR (int fee ins tax dep) | 67.8% | 64.9% | 60.7% | 52.4% | 52.4% | ||||
Transparency Index | 47 | 49 | 53 | 61 | 61 | ||||
Original Repayment Schedule | |||||||||
MFT Pricing Calculation |
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% Products with compulsory deposits |
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