Institution Type | Non-Governmental Organization |
Is this institution regulated? | No |
Website address | N/A |
Year established | 2007 |
Head of Institution | Jayanta Dutta |
Regions active | |
# Branches | 2 |
Total Portfolio (nat'l) | INR 7,701,610 |
Total Portfolio (USD) | USD 145,313.40 |
Active clients with loans | 1,888 |
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 | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Micro | INR 1,000 - 50,000 | 6 - 10.7 | 80% - 100% | 0% - 20% | Business, Consumer | Women, Have business, Have home or land | Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Business Training, Other 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 | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Micro | 0 | 33.8% - 34.6% | 42.2% - 48% | N/A |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Micro | 15.0% annual, Flat | 1 Fee | 1 Ins | None | 5.0% upfront 50.00 ongoing | 33.8% - 34.6% | 42.2% - 48% | 34 |
Outstanding portfolio (TZS) | TZS 3,700,000,000 |
Portfolio (USD) | USD 2,327,044.03 |
Active Clients with Loans | 5,071 |
Approximate % Female Clients | 60% - 80% |
Approximate % Urban Clients | 60% - 80% |
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 | |
Other training | x |
Other | |
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 | |
Other (2) |
# Regions for this institution | 3 |
# Regions for this product | 3 |
Regions Active | Arusha, Dar es Salaam, Kilimanjaro |
Currency | TZS |
Minimum loan size | TZS 250,000 |
Maximum loan size | 7,500,000 |
Loans less than TZS 350,000 | 5% |
TZS 350,000-1,250,000 | 15% |
TZS 1,250,000-2,000,000 | 30% |
TZS 2,000,000-3,000,000 | 30% |
TZS 3,000,000-4,000,000 | 15% |
Greater than TZS 4,000,000 | 15% |
Shortest loan term | 6.0 months |
Longest loan term | 12.0 months |
Approx average | 6.5 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 70% |
Between 7 and 9 months | 30% |
Between 10 and 12 months | 0 |
Between 13 and 18 months | 0 |
Longer than 18 months | 0 |
Grace period usage | 100% |
Average grace period | 0.7 months |
Daily | |
Weekly | |
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 | 2.50% |
Highest quoted nominal interest | 2.50% |
Interest rate period | Monthly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Fee 1 | |
---|---|
Description | Loan Processing Fee |
% 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? | Yes |
Ins 1 | |
---|---|
Description | Credit Life, Funeral, Property |
% of loan amount - min | 1.00% |
% of loan amount - max | 1.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | Yes |
Required for | All |
Criteria | First Loan Cycle Security Deposit required is equal to 1% of the loan amount. |
Is deposit indicated on the repayment schedule? | No |
Do borrowers control deposit in their group? | Yes |
% loan amount deposited | 10.00% |
or, Fixed-amount deposited | 0 |
% loan amount deposited | 0 |
or, Fixed-amount deposited | 0 |
Conditions on access to deposit | End Term |
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 | Sample 6 | ||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Loan Amount | TZS 300,000 | TZS 500,000 | TZS 1,000,000 | TZS 2,000,000 | TZS 3,000,000 | TZS 5,000,000 | |||||
Loan Cycle (1, 2, 3, etc) | 1 | Not Known | 4 | 4 | 4 | 4 | |||||
Disbursement Date | 2013-02-19 | 2013-02-12 | 2012-11-30 | 2012-11-30 | 2012-11-30 | 2013-01-21 | |||||
Loan Term (Months) | 6.0 months | 6.0 months | 6.0 months | 6.0 months | 6.0 months | 8.0 months | |||||
Grace Period (Months) | 0.2 months | 0.1 months | 0.2 months | 0.2 months | 0.2 months | 0.2 months | |||||
Total Cost of Credit | TZS 54,300 | TZS 89,200 | TZS 179,700 | TZS 359,400 | TZS 540,400 | TZS 1,125,000 | |||||
True Price by Comp | |||||||||||
Interest price component | 52.0% | 53.2% | 51.5% | 51.5% | 51.6% | 48.7% | |||||
Fee Component | 5.5% | 5.8% | 5.5% | 5.5% | 5.5% | 4.2% | |||||
Insurance Component | 3.8% | 3.9% | 3.7% | 3.7% | 3.8% | 2.8% | |||||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
Deposit Component | 12.0% | 12.8% | 12.1% | 12.1% | 12.0% | 10.4% | |||||
Full APR (int fee ins tax dep) | 73.3% | 75.7% | 72.8% | 72.8% | 72.9% | 66.1% | |||||
Transparency Index | 41 | 40 | 41 | 41 | 41 | 45 | |||||
Original Repayment Schedule | |||||||||||
MFT Pricing Calculation |
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Loan Portfolio (USD) | |
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% Products with one or more insurances | |
% Products with compulsory deposits |
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