Institution Type | Non Bank Financial Institution |
Is this institution regulated? | Yes |
Website address | http://www.equitasmf.in |
Year established | 2007 |
Head of Institution | PN Vasudevan |
Regions active | Gujarat, Madhya Pradesh |
# Branches | 278 |
Total Portfolio (nat'l) | INR 9,756,400,000 |
Total Portfolio (USD) | USD 184,083,018.90 |
Active clients with loans | 1,163,000 |
Approximate % female clients | 80% - 100% |
Approximate % urban clients | 80% - 100% |
Network affiliations | MFIN, Sa-Dhan, Alpha |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Second Cycle Loan | INR 12,000 - 18,000 | 18 - 24 | 80% - 100% | 80% - 100% | Business | Women, Have business, Low HH Inc, Med HH Inc | Credit Educ, Group Mtgs, Credit Ins | |||||||
Third Cycle Loan | INR 12,000 - 18,000 | 18 - 24 | 80% - 100% | 80% - 100% | Business | Women, Have business, Low HH Inc, Med HH Inc | Credit Educ, Group Mtgs, Credit Ins | |||||||
First Cycle Loan | INR 12,000 - 18,000 | 18 - 24 | 80% - 100% | 80% - 100% | Business | Women, Have business, Low HH Inc, Med HH Inc | Credit Educ, Group Mtgs, Credit Ins | |||||||
Income Generating 1 Year Loan | INR 4,999.50 - 5,000 | 12 | 80% - 100% | 80% - 100% | Business | Women, Have business, Low HH Inc, Med HH Inc | Credit Educ, Group Mtgs, 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 | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Second Cycle Loan | 24.9% - 25.3% | 26% - 26.7% | 27.7% - 29.1% | Yes | Yes | Yes | 100 | |||||||
Third Cycle Loan | 24.9% - 25.4% | 26% - 26.5% | 27.6% - 28.2% | Yes | Yes | Yes | 100 | |||||||
First Cycle Loan | 25% - 25.3% | 26% - 26.7% | 27.7% - 29.1% | Yes | Yes | Yes | 100 | |||||||
Income Generating 1 Year Loan | 24.4% - 25.3% | 26.4% - 27.4% | 28.1% - 29.3% | Yes | Yes | Yes | 100 |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Second Cycle Loan | 25.5% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 26% - 26.7% | 27.7% - 29.1% | 90 | ||||||||
Third Cycle Loan | 25.5% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 26% - 26.5% | 27.6% - 28.2% | 91 | ||||||||
First Cycle Loan | 25.5% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 26% - 26.7% | 27.7% - 29.1% | 90 | ||||||||
Income Generating 1 Year Loan | 25.5% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 26.4% - 27.4% | 28.1% - 29.3% | 89 |
Outstanding portfolio (KES) | KES 75,652,537.91 |
Portfolio (USD) | USD 913,677.99 |
Active Clients with Loans | 1,392 |
Approximate % Female Clients | 0% - 20% |
Approximate % Urban Clients | 20% - 40% |
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other |
Any purpose | x |
Income generation | |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | |
Other (2) |
Credit education | x |
Group meetings | |
Credit insurance | x |
Workplace visits | |
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 | x |
Must be specific age group | |
Other | |
Other (2) |
# Regions for this institution | 5 |
# Regions for this product | 5 |
Regions Active | Central, Coast, Eastern, Nairobi, Rift Valley |
Currency | KES |
Minimum loan size | KES 1 |
Maximum loan size | 300,000 |
Loans less than KES 50,000 | 20% |
KES 50,000-150,000 | 30% |
KES 150,000-250,000 | 30% |
KES 250,000-350,000 | 20% |
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 | 12.0 months |
Loans 3 months or less | 5% |
Between 4 and 6 months | 5% |
Between 7 and 9 months | 5% |
Between 10 and 12 months | 50% |
Between 13 and 18 months | 15% |
Longer than 18 months | 20% |
Grace period usage | 100% |
Average grace period | 0.7 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 |
Lowest quoted nominal interest | 1.83% |
Highest quoted nominal interest | 1.83% |
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 | Disbursement Fee |
% of loan amount - min | 0 |
% of loan amount - max | 0 |
OR, Fixed amount - min | 100 |
Fixed amount - max | 1,000 |
Reason for variation | Varies based on method of loan disbursement. |
Appears on Repayment Sched? | No |
Fee 1 | |
---|---|
Description | Admnistration 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? | No |
Ins 1 | |
---|---|
Description | Insurance Fee |
% of loan amount - min | 2.00% |
% of loan amount - max | 2.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | No |
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? | No |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | Sample 6 | ||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Loan Amount | KES 9,256.83 | KES 28,034.77 | KES 49,845.90 | KES 88,031.25 | KES 200,501.50 | KES 301,634.80 | |||||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | Not Known | |||||
Disbursement Date | 2013-05-31 | 2013-08-26 | 2013-07-16 | 2013-06-21 | 2013-05-31 | 2013-07-31 | |||||
Loan Term (Months) | 12.0 months | 19.0 months | 13.0 months | 19.0 months | 19.0 months | 19.0 months | |||||
Grace Period (Months) | 0.5 months | 0.7 months | 1.1 months | 0.8 months | 0.5 months | 0.6 months | |||||
Total Cost of Credit | KES 2,664.26 | KES 11,928.16 | KES 15,945.37 | KES 37,892.99 | KES 83,583.57 | KES 125,656.21 | |||||
True Price by Comp | |||||||||||
Interest price component | 39.1% | 39.0% | 38.9% | 39.0% | 39.1% | 39.1% | |||||
Fee Component | 6.9% | 3.3% | 4.3% | 2.9% | 3.0% | 2.9% | |||||
Insurance Component | 3.1% | 1.9% | 2.6% | 1.8% | 1.8% | 1.9% | |||||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
Deposit Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
Full APR (int fee ins tax dep) | 49.1% | 44.2% | 45.8% | 43.7% | 43.9% | 43.9% | |||||
Transparency Index | 45 | 50 | 48 | 50 | 50 | 50 | |||||
Original Repayment Schedule | |||||||||||
MFT Pricing Calculation |
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 |
Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
---|---|---|---|---|---|---|---|
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 ∞ |