| Institution Type | Private 'For-Profit' |
| Is this institution regulated? | N/A |
| Website address | http://www.equitas.in/ |
| Year established | 2007 |
| Head of Institution | PN Vasudevan |
| Regions active | 0 |
| # Branches | 276 |
| Total Portfolio (nat'l) | INR 9,568,069,000 |
| Total Portfolio (USD) | USD 212,623,755.60 |
| Active clients with loans | 1,395,978 |
| Approximate % female clients | 80% - 100% |
| Approximate % urban clients | 80% - 100% |
| Network affiliations | MFIN |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Additional Micro-Credit | INR 3,000 - 3,000 | 6 - 9 | 80% - 100% | 80% - 100% | Business | Women, Have business | Credit Educ, Group Mtgs, Credit Ins | |||||||
| Primary Loans | INR 10,100 - 12,000 | 24 | 80% - 100% | 80% - 100% | Business | Women, Have business, either client runs business or husband runs business and the client has an active role | Credit Educ, Group Mtgs, Credit Ins | |||||||
| Third Cycle Loan | INR 10,100 - 15,000 | 24 | 80% - 100% | 0% | Business | Women, Have business | Credit Educ, Group Mtgs |
| 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Additional Micro-Credit | 0% | 24.5% - 25.9% | 25.3% - 27% | N/A | ||||||||||
| Primary Loans | 0% | 25.9% - 26.8% | 26.7% - 27.4% | N/A | ||||||||||
| Third Cycle Loan | 0% | 26.6% | 28.3% | N/A |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Additional Micro-Credit | 25.3%-26.3% annual, Decl Bal | 0 Fees | 0 Ins | None | N/A | 24.5% - 25.9% | 25.3% - 27% | 96 | ||||||||
| Primary Loans | 25.5% annual, Decl Bal | 1 Fee | 0 Ins | None | N/A | 25.9% - 26.8% | 26.7% - 27.4% | 94 | ||||||||
| Third Cycle Loan | 25.4% annual, Decl Bal | 0 Fees | 1 Ins | None | N/A | 26.6% | 28.3% | 90 |
| Outstanding portfolio (TZS) | TZS 1,987,678,908 |
| Portfolio (USD) | USD 1,250,112.52 |
| Active Clients with Loans | 1,262 |
| Approximate % Female Clients | 20% - 40% |
| Approximate % Urban Clients | 100% |
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | x |
| Other | |
| Other (2) |
| Credit education | |
| Group meetings | |
| Credit insurance | |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | |
| Other (2) | |
| No other services | x |
| Men | x |
| Women | x |
| Must run a business | x |
| Must own a home or land | x |
| Must be a salaried worker | |
| Must be specific age group | x |
| Other | |
| Other (2) |
| # Regions for this institution | 4 |
| # Regions for this product | 12 |
| Regions Active | Arusha, Dar es Salaam, Dodoma, Kagera, Kilimanjaro, Manyara, Morogoro, Mwanza, ShinyangaSingida, Tabora, Tanga |
| Currency | TZS |
| Minimum loan size | TZS 1,000,000 |
| Maximum loan size | 10,000,000 |
| Loans less than TZS 350,000 | 0 |
| TZS 350,000-1,250,000 | 20% |
| TZS 1,250,000-2,000,000 | 10% |
| TZS 2,000,000-3,000,000 | 20% |
| TZS 3,000,000-4,000,000 | 40% |
| Greater than TZS 4,000,000 | 40% |
| Shortest loan term | 3.0 months |
| Longest loan term | 12.0 months |
| Approx average | 6.0 months |
| Loans 3 months or less | 5% |
| Between 4 and 6 months | 70% |
| Between 7 and 9 months | 15% |
| Between 10 and 12 months | 10% |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
| Grace period usage | 0 |
| Average grace period | 0 |
| 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 | 2.50% |
| Highest quoted nominal interest | 2.50% |
| Reason(s) why interest rate varies | No Variation |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | Yes |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | Application 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 | N/A |
| Appears on Repayment Sched? | No |
| Ins 1 | |
|---|---|
| Description | Insurance |
| % 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? | No |
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | Yes |
| Do borrowers control deposit in their group? | No |
| % 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 | |||
|---|---|---|---|---|---|
| Loan Amount | TZS 3,000,000 | TZS 4,000,000 | TZS 5,000,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2014-03-12 | 2014-03-03 | 2014-03-20 | ||
| Loan Term (Months) | 6.0 months | 12.0 months | 9.0 months | ||
| Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | ||
| Total Cost of Credit | TZS 510,000 | TZS 1,280,000 | TZS 1,225,000 | ||
| True Price by Comp | |||||
| Interest price component | 48.5% | 50.1% | 49.8% | ||
| Fee Component | 3.5% | 2.0% | 2.6% | ||
| Insurance Component | 3.6% | 2.1% | 2.6% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 10.4% | 10.0% | 10.3% | ||
| Full APR (int fee ins tax dep) | 66.0% | 64.2% | 65.3% | ||
| Transparency Index | 45 | 47 | 46 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
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| % 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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