Chaitanya India Fin Credit Pvt Ltd - 2D Business Loan - MFTransparency.org Truth In Lending Tables

Please note that the information you are viewing is 139 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Please note that the information you are viewing is 158 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Chaitanya India Fin Credit Pvt Ltd #169, 1st Floor, 5th MainChamarajpetBangalore, KarnatakaPO Box 560018

Data approved: 2012-11-26

Data version: 3

Age of data: 139 months

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Institution

Ahon sa Hirap, Inc. 76 8th AvenueCubaoQuezon City1109

Data approved: 2011-11-15

Data version: 1

Age of data: 158 months

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Product

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Product Summary

Number borrowers	2,162
Loan Amount (range)	INR 36,000 - 50,000
Loan Term (range)	24 - 30
Other Services (text summary)	Credit Educ, Group Mtgs, Credit Ins
Annual Interest & Method	26.0% annual, Decl Bal
Fees	0.88% upfront
Insurance	1.20% upfront
Tax	12.36% fees
Comp Dep	N/A
Range of pricing
Interest Price Component	25.8% - 27.3%
Fee Component	1.4% - 2.4%
Insurance Component	2.1% - 3.5%
Tax Component Range	0.2% - 0.4%
Full APR (int fee ins tax dep)	29.6% - 30.1%
Transparency Index (min/max)	79 - 88
Transparency Index (average)	87

Product Summary

19,732
PHP 3,000 - 50,000
6 - 24
Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Business Training, Life Insurance
25.0% annual, Flat
5.00% upfront
5.00 upfront 5.00 ongoing
None
5.00 upfront 5.00 ongoing

N/A
70.1% (Int+Fee)
0 - 33.7%
0
72.1% - 106.2%
0 - 75
31

Product Details

Key Statistics

Outstanding portfolio (INR)	INR 27,997,776
Portfolio (USD)	USD 528,259.92
Active Clients with Loans	2,162
Approximate % Female Clients	80% - 100%
Approximate % Urban Clients	0% - 20%

Methodology

Individual
Solidarity group	x
Village banking
Self help group
Other	Joint liability group (JLGs)

Description

2D Business loan is offered to customers engaged in income generating activities. The loan term is 2 years and loan disbursement is made in two installments.

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	x
Credit insurance	x
Workplace visits
Business training
Other training
Other
Other (2)
No other services

Eligibility

Men
Women	x
Must run a business
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	1
# Regions for this product	1
Regions Active	Karnataka

Product Details

Key Statistics

Outstanding portfolio (PHP)	PHP 146,270,315
Portfolio (USD)	USD 3,499,289.83
Active Clients with Loans	19,732
Approximate % Female Clients	80% - 100%
Approximate % Urban Clients	20% - 40%

Methodology

Individual
Solidarity group	x
Village banking
Self help group
Other

Description

Loans used for income generating activities/business

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	x
Credit insurance	x
Workplace visits	x
Business training	x
Other training
Other	Life Insurance
Other (2)
No other services

Eligibility

Men
Women	x
Must run a business
Must own a home or land
Must be a salaried worker
Must be specific age group
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 36,000
Maximum loan size	50,000

Distribution at Disbursement (Est.)

Loans less than INR 5,000	0
INR 5,000-15,000	0
INR 15,000-25,000	0
INR 25,000-35,000	0
INR 35,000-45,000	50%
Greater than INR 45,000	50%

Loan Term and Grace Period

Shortest loan term	24.0 months
Longest loan term	30.0 months
Approx average	27.0 months

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	0
Between 13 and 18 months	0
Longer than 18 months	100%

Grace Period

Grace period usage	0
Average grace period	0

Repayment Frequency

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

Loan Conditions

Loan Amount

Currency	PHP
Minimum loan size	PHP 3,000
Maximum loan size	50,000

Loan Term and Grace Period

Shortest loan term	6.0 months
Longest loan term	24.0 months
Approx average	6.0 months

Grace Period

Grace period usage	0
Average grace period	0

Repayment Frequency

Daily
Weekly	x
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	26.00%
Highest quoted nominal interest	26.00%
Reason(s) why interest rate varies	N/A
Interest rate period	Yearly
Interest Rate Calculation Method	Decl Bal
Subsidized by funder request?	No
Is rate fixed for entire loan term	Yes

Upfront Fees

	Fee 1
Description	Processing Fee
% of loan amount - min	0.88%
% of loan amount - max	0.88%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	N/A
Appears on Repayment Sched?	No

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

	Ins 1
Description	Credit Insurance
% of loan amount - min	1.20%
% of loan amount - max	1.20%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	N/A
Appears on Repayment Sched?	No

Ongoing Insurance Fees

This product has no ongoing insurance fees

Compulsory Deposit

Required for	Never
Criteria	N/A
Is deposit indicated on the repayment schedule?	N/A
Do borrowers control deposit in their group?	N/A

Deposit BEFORE or AT Disbursement

% loan amount deposited	N/A
or, Fixed-amount deposited	N/A

Deposits DURING period payments

% loan amount deposited	N/A
or, Fixed-amount deposited	N/A
Conditions on access to deposit	N/A

Interest Paid on Deposit

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

Taxes

Are taxes charged on this product?	Yes
Percentage of fees	12.4%
All or some fees taxed	Some

Pricing Information

Interest

Lowest quoted nominal interest	25.00%
Highest quoted nominal interest	25.00%
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	Salamat Fund
% of loan amount - min	5.00%
% of loan amount - max	5.00%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation
Appears on Repayment Sched?	No

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

	Ins 1
Description	Loan Insurance
% of loan amount - min	0
% of loan amount - max	0
OR, Fixed amount - min	5
Fixed amount - max	5
Reason for variation	N/A
Appears on Repayment Sched?	No

Ongoing Insurance Fees

	Ins 1
Description	Loan Insurance
% of loan amount - min	0
% of loan amount - max	0
OR, Fixed amount - min	5
Fixed amount - max	5
Reason for variation	N/A
Appears on Repayment Sched?	No

Compulsory Deposit

Required for	All
Criteria	N/A
Is deposit indicated on the repayment schedule?
Do borrowers control deposit in their group?	Yes

Deposit BEFORE or AT Disbursement

% loan amount deposited	0
or, Fixed-amount deposited	PHP 5

Deposits DURING period payments

% loan amount deposited	0
or, Fixed-amount deposited	PHP 5
Conditions on access to deposit	When Leaving

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?

Additional Comments

To avail of insurance, one-time membership fee of P25 is collected. Salamat Fund goes to a group fund against which members can loan. General Loan is the primary loan of members. Members may get additional loans, but will only pay for insurance and deposit savings once. Member is required to deposit P5 and pay P5 insurance premium every week, with or without a loan.

Full Pricing Data

2D Business Loan samples

	Sample 1	Sample 2	Sample 3	Sample 4
Loan Amount	INR 40,000	INR 40,000	INR 49,000	INR 49,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known	Not Known
Disbursement Date	2012-09-27	2012-11-02	2012-10-17	2012-07-24
Loan Term (Months)	25.0 months	28.0 months	28.0 months	28.0 months
Grace Period (Months)	0.1 months	0.4 months	0.0 months	0.0 months
Total Cost of Credit	INR 7,811	INR 9,029	INR 10,755	INR 10,783
True Price by Comp
Interest price component	25.9%	25.9%	25.9%	25.9%
Fee Component	1.6%	1.4%	1.5%	1.5%
Insurance Component	2.3%	2.1%	2.1%	2.1%
Tax Component	0.3%	0.2%	0.2%	0.2%
Deposit Component	0.0%	0.0%	0.0%	0.0%
Full APR (int fee ins tax dep)	30.1%	29.6%	29.7%	29.7%
MFIN MFI Earning (Annualised)	27.5%	27.3%	27.4%	27.4%
MFIN Cost to Borrower (Annualised)	30.1%	29.6%	29.7%	29.7%
Transparency Index	86	88	87	88
MFIN Transparency Index	100	100	100	100

Original Repayment Schedule	PDF	PDF	PDF	PDF
MFT Pricing Calculation	PDF	PDF	PDF	PDF

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

Full Pricing Data

General Loan samples

	Sample 1	Sample 2	Sample 3	Sample 4
Loan Amount	PHP 5,000	PHP 7,000	PHP 15,000	PHP 30,000
Loan Cycle (1, 2, 3, etc)	1	2	4	2
Disbursement Date	2011-03-28	2011-03-15	2011-03-08	2011-01-31
Loan Term (Months)	5.8 months	5.8 months	5.8 months	5.8 months
Grace Period (Months)	0.0 months	0.0 months	0.0 months	0.0 months
Total Cost of Credit	Not Known	Not Known	Not Known	Not Known
True Price by Comp
Interest and Fee Component	70.1%	70.1%	70.1%	70.1%
Insurance Component	33.7%	7.1%	3.3%	1.7%
Tax Component	0.0%	0.0%	0.0%	0.0%
Deposit Component	2.3%	1.2%	0.6%	0.3%
Full APR (int fee ins tax dep)	106.2%	78.5%	74.0%	72.1%
Transparency Index	24	32	34	35

Original Repayment Schedule	PDF	PDF	PDF	PDF
MFT Pricing Calculation	PDF	PDF	PDF	PDF

2D Business Loan Price Graphs

Click to view Price Analysis Tool

General Loan Price Graphs

Click to view Price Analysis Tool

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

	X Axis
	Greater than:
	Less or equal to:
N (# of Samples)
Total Borrrowers of Samples


Avg
Min
Max
Std Dev

By Inst Type


By Country

	X Axis
	Greater than:
	Less or equal to:
	From 0 to
	to
	to
	to ∞

Institution

Institution

Product

Product

Product Summary

Product Summary

Product Details

Key Statistics

Methodology

Description

Loan Purpose

Included Services

Eligibility

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

Product Details

Key Statistics

Methodology

Description

Loan Purpose

Included Services

Eligibility

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

Loan Conditions

Loan Amount

Distribution at Disbursement (Est.)

Loan Term and Grace Period

Distribution at Disbursement (Est.)

Grace Period

Repayment Frequency

Loan Conditions

Loan Amount

Loan Term and Grace Period

Grace Period

Repayment Frequency

Pricing Information

Interest

Upfront Fees

Ongoing Fees

Upfront Insurance Fees

Ongoing Insurance Fees

Compulsory Deposit

Deposit BEFORE or AT Disbursement

Deposits DURING period payments

Interest Paid on Deposit

Taxes

Pricing Information

Interest

Upfront Fees

Ongoing Fees

Upfront Insurance Fees

Ongoing Insurance Fees

Compulsory Deposit

Deposit BEFORE or AT Disbursement

Deposits DURING period payments

Interest Paid on Deposit

Taxes

Additional Comments

Full Pricing Data

2D Business Loan samples

Full Pricing Data

General Loan samples

2D Business Loan Price Graphs

General Loan Price Graphs

Total Borrowers of Samples

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