Number borrowers | 42,080 |
Loan Amount (range) | INR 12,000 - 15,000 |
Loan Term (range) | 15 - 18 |
Other Services (text summary) | Credit Educ, Group Mtgs, Credit Ins |
Annual Interest & Method | 26.0%-28.5% annual, Decl Bal |
Fees | 1.00% upfront |
Insurance | 198.00-234.00 upfront |
Tax | 12.36% fees |
Comp Dep | N/A |
Range of pricing | |
Interest Price Component | 24.9% - 27.9% |
Fee Component | 1.0% - 1.6% |
Insurance Component | 2.1% - 2.7% |
Tax Component Range | 0.1% - 0.2% |
Full APR (int fee ins tax dep) | 29.4% - 30.7% |
Transparency Index (min/max) | 82 - 90 |
Transparency Index (average) | 87 |
702 |
KES 5,000 - 1,000,000 |
3 - 24 |
Credit Ins, Tech Asst Visits |
18.0%-22.0% annual, Flat |
3.00% upfront |
1.20% upfront |
None |
20.0%-30.0% upfront 400.00 ongoing |
19.3% - 39.1% |
3.3% - 11.5% |
1.4% - 4.7% |
0 |
35.3% - 40.9% |
17 - 51 |
47 |
Outstanding portfolio (INR) | INR 383,625,000 |
Portfolio (USD) | USD 7,238,207.55 |
Active Clients with Loans | 42,080 |
Approximate % Female Clients | 100% |
Approximate % Urban Clients | 0% - 20% |
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 | |
Other | |
Other (2) | |
No other services |
Men | |
Women | x |
Must run a business | |
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 be economically active |
Other (2) |
# Regions for this institution | 1 |
# Regions for this product | 1 |
Regions Active | Gujarat |
Outstanding portfolio (KES) | KES 40,091,409 |
Portfolio (USD) | USD 484,195.76 |
Active Clients with Loans | 702 |
Approximate % Female Clients | 40% - 60% |
Approximate % Urban Clients | 60% - 80% |
Individual | x |
Solidarity group | x |
Village banking | |
Self help group | |
Other |
Any purpose | |
Income generation | |
Mortgage/housing | |
Consumer loan | |
Agriculture | x |
Education | |
Other household finance | |
Other | |
Other (2) |
Credit education | |
Group meetings | |
Credit insurance | x |
Workplace visits | x |
Business training | |
Other training | |
Other | |
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 | |
Other | |
Other (2) |
# Regions for this institution | 7 |
# Regions for this product | 7 |
Regions Active | Central, Coast, Eastern, Nairobi, Nyanza, Rift Valley, Western |
Currency | INR |
Minimum loan size | INR 12,000 |
Maximum loan size | 15,000 |
Loans less than INR 5,000 | 0 |
INR 5,000-15,000 | 100% |
INR 15,000-25,000 | 0 |
INR 25,000-35,000 | 0 |
INR 35,000-45,000 | 0 |
Greater than INR 45,000 | 0 |
Shortest loan term | 15.0 months |
Longest loan term | 18.0 months |
Approx average | DK |
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 | 100% |
Longer than 18 months | 0 |
Grace period usage | 100% |
Average grace period | 1.0 month |
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 |
Currency | KES |
Minimum loan size | KES 5,000 |
Maximum loan size | 1,000,000 |
Loans less than KES 50,000 | 30% |
KES 50,000-150,000 | 50% |
KES 150,000-250,000 | 10% |
KES 250,000-350,000 | 10% |
KES 350,000-450,000 | 0 |
Greater than KES 450,000 | 0 |
Shortest loan term | 3.0 months |
Longest loan term | 24.0 months |
Approx average | 9.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 40% |
Between 7 and 9 months | 50% |
Between 10 and 12 months | 10% |
Between 13 and 18 months | 0 |
Longer than 18 months | 0 |
Grace period usage | 100% |
Average grace period | 1.0 month |
Daily | |
Weekly | |
Every 2 weeks | |
Every 4 weeks | |
Monthly | x |
Every 2 months | |
Quarterly | |
Every 6 months | |
Every 12 months | |
Single end payment | x |
Irregular payments |
Lowest quoted nominal interest | 26.00% |
Highest quoted nominal interest | 28.50% |
Reason(s) why interest rate varies | To comply with extant RBI guidelines on pricing |
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 (Credit Shield) Premium |
% of loan amount - min | 0 |
% of loan amount - max | 0 |
OR, Fixed amount - min | 198 |
Fixed amount - max | 234 |
Reason for variation | The premium is based on period of insurance coverage which can be either 18 or 19 months, depending upon the loan tenor |
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 | 18.00% |
Highest quoted nominal interest | 22.00% |
Reason(s) why interest rate varies | 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 | |
---|---|
Description | Loan Application Fee |
% of loan amount - min | 3.00% |
% of loan amount - max | 3.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | Yes |
Ins 1 | |
---|---|
Description | Annual Loan Protection Fee |
% 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? | Yes |
Required for | All |
Criteria | Upfront: Sol group loans =20%. Individual loans =30%. |
Is deposit indicated on the repayment schedule? | Yes |
Do borrowers control deposit in their group? | Yes |
% loan amount deposited | 20.00% - 30.00% |
or, Fixed-amount deposited | 0 |
% loan amount deposited | 0 |
or, Fixed-amount deposited | KES 400 |
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 | |||
---|---|---|---|---|---|
Loan Amount | INR 15,000 | INR 12,000 | INR 15,000 | ||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
Disbursement Date | 2013-03-01 | 2012-10-02 | 2012-11-08 | ||
Loan Term (Months) | 19.0 months | 16.0 months | 15.0 months | ||
Grace Period (Months) | 0.3 months | 0.2 months | 0.2 months | ||
Total Cost of Credit | INR 3,985.54 | INR 2,427.83 | INR 3,088.54 | ||
True Price by Comp | |||||
Interest price component | 27.1% | 24.9% | 25.5% | ||
Fee Component | 1.3% | 1.6% | 1.6% | ||
Insurance Component | 2.1% | 2.7% | 2.1% | ||
Tax Component | 0.2% | 0.2% | 0.2% | ||
Deposit Component | 0.0% | 0.0% | 0.0% | ||
Full APR (int fee ins tax dep) | 30.7% | 29.4% | 29.4% | ||
MFIN MFI Earning (Annualised) | 28.4% | 26.5% | 27.1% | ||
MFIN Cost to Borrower (Annualised) | 30.7% | 29.4% | 29.4% | ||
Transparency Index | 85 | 88 | 88 | ||
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 25,000 | KES 50,000 | KES 100,000 | KES 300,000 | ||||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | ||||
Disbursement Date | 2013-06-11 | 2013-05-10 | 2013-05-14 | 2013-04-23 | 2013-05-28 | ||||
Loan Term (Months) | 6.0 months | 12.0 months | 9.0 months | 9.0 months | 9.0 months | ||||
Grace Period (Months) | 5.1 months | 11.2 months | 8.2 months | 8.2 months | 8.2 months | ||||
Total Cost of Credit | KES 1,395 | KES 6,550 | KES 10,350.03 | KES 20,700 | KES 62,100 | ||||
True Price by Comp | |||||||||
Interest price component | 19.3% | 21.7% | 21.6% | 21.7% | 21.7% | ||||
Fee Component | 6.3% | 3.3% | 4.4% | 4.4% | 4.4% | ||||
Insurance Component | 2.6% | 1.4% | 1.7% | 1.7% | 1.8% | ||||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||||
Deposit Component | 12.2% | 10.3% | 8.5% | 13.1% | 7.4% | ||||
Full APR (int fee ins tax dep) | 40.4% | 36.7% | 36.2% | 40.9% | 35.3% | ||||
Transparency Index | 45 | 49 | 50 | 44 | 51 | ||||
Original Repayment Schedule | |||||||||
MFT Pricing Calculation |
Key Statistics | |
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# 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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