| 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 2,005,593.13 |
| Portfolio (USD) | USD 24,222.14 |
| Active Clients with Loans | 181 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 20% - 40% |
| Individual | |
| Solidarity group | x |
| 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 | x |
| Group meetings | x |
| Credit insurance | x |
| Workplace visits | |
| Business training | x |
| Other training | x |
| Other | Leadership training |
| Other (2) | |
| No other services |
| Men | x |
| Women | x |
| Must run a business | |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | x |
| Other | |
| Other (2) |
| # Regions for this institution | 1 |
| # Regions for this product | 1 |
| Regions Active | Coast |
| Currency | KES |
| Minimum loan size | KES 5,000 |
| Maximum loan size | 150,000 |
| Loans less than KES 50,000 | 80% |
| KES 50,000-150,000 | 20% |
| 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 | 12.0 months |
| Grace period usage | 100% |
| Average grace period | 1.0 month |
| Daily | |
| Weekly | |
| Every 2 weeks | x |
| Every 4 weeks | |
| Monthly | |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments |
| Lowest quoted nominal interest | 21.00% |
| Highest quoted nominal interest | 21.00% |
| 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 | Application Fee |
| % of loan amount - min | 0 |
| % of loan amount - max | 1.00% |
| OR, Fixed amount - min | 400 |
| Fixed amount - max | 0 |
| Reason for variation | KES 400 Minimum |
| Appears on Repayment Sched? | No |
| Ins 1 | |
|---|---|
| Description | Emergency Fund |
| % of loan amount - min | 1.50% |
| % of loan amount - max | 1.50% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | No |
| Required for | All |
| Criteria | Rural loans <30,000 KES =15%. Loans >30,000 KES = 10%. Urban loans <100,000 KES = 15%. Loans >100,000 KES = 10% |
| Is deposit indicated on the repayment schedule? | No |
| Do borrowers control deposit in their group? | Yes |
| % loan amount deposited | 10.00% - 15.00% |
| 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 | 2.00% |
| Maximum interest rate paid | 4.00% |
| Interest payment frequency | Annually |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | Sample 4 | ||||
|---|---|---|---|---|---|---|---|
| Loan Amount | KES 10,000 | KES 15,000 | KES 20,000 | KES 30,000 | |||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
| Disbursement Date | 2013-07-04 | 2013-03-26 | 2013-05-29 | 2013-05-06 | |||
| Loan Term (Months) | 12.0 months | 9.0 months | 12.0 months | 12.0 months | |||
| Grace Period (Months) | 0.5 months | 0.5 months | 0.5 months | 0.5 months | |||
| Total Cost of Credit | KES 2,662 | KES 2,987.50 | KES 4,900 | KES 7,162 | |||
| True Price by Comp | |||||||
| Interest price component | 38.0% | 37.0% | 37.8% | 37.9% | |||
| Fee Component | 8.4% | 7.0% | 4.1% | 2.7% | |||
| Insurance Component | 3.3% | 4.0% | 3.2% | 3.2% | |||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
| Deposit Component | 32.1% | 23.1% | 21.3% | 18.3% | |||
| Full APR (int fee ins tax dep) | 81.8% | 71.1% | 66.4% | 62.1% | |||
| Transparency Index | 24 | 28 | 30 | 32 | |||
| Original Repayment Schedule | |||||||
| MFT Pricing Calculation |
| Key Statistics | |
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| % 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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