Institution Type | Non Bank Financial Institution |
Is this institution regulated? | Yes |
Website address | http://www.emfil.org/ |
Year established | 1996 |
Head of Institution | K. Paul Thomas |
Regions active | Chhattisgarh, Kerala, Madhya Pradesh, Maharashtra, Tamil Nadu |
# Branches | 151 |
Total Portfolio (nat'l) | INR 2,301,636,906 |
Total Portfolio (USD) | USD 43,427,111.43 |
Active clients with loans | 352,627 |
Approximate % female clients | 80% - 100% |
Approximate % urban clients | 0% - 20% |
Network affiliations | MFIN |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
General Loan | INR 5,000 - 8,000 | 12 | 80% - 100% | 0% - 20% | Any Purpose | Women, Men, Low HH Inc | Credit Educ, Group Mtgs, Business Training | |||||||
Income Generation Loan | INR 8,000 - 15,000 | 12 | 80% - 100% | 0% - 20% | Business | Women, Men, Low HH Inc | Credit Educ, Group Mtgs, Business Training, Financial education | |||||||
Jeevandhara | INR 3,000 - 12,000 | 12 - 24 | 80% - 100% | 0% - 20% | For installing water connection | Women, Men, Low HH Inc | Credit Educ, Group Mtgs, Tech Asst Visits | |||||||
Nirmal | INR 6,000 - 12,000 | 12 - 24 | 80% - 100% | 0% - 20% | Sanitation Purposes | Women, Men, Low HH Inc, Med HH Inc | Credit Educ, Group Mtgs, Tech Asst Visits | |||||||
Income Generation Loan 2+ | INR 16,000 - 30,000 | 24 | 80% - 100% | 0% - 20% | Business | Women, Men, Low HH Inc, Med HH Inc | Credit Educ, Group Mtgs, Business 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 | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
General Loan | 27% - 27.9% | 29.3% - 30.2% | 29.6% - 30.5% | Yes | Yes | Yes | 95 | |||||||
Income Generation Loan | 27% - 27.9% | 29.3% - 30.2% | 29.6% - 30.5% | Yes | Yes | Yes | 95 | |||||||
Jeevandhara | 21.5% - 23.6% | 23.8% - 25.5% | 24.1% - 25.8% | Yes | Yes | Yes | 99 | |||||||
Nirmal | 22% - 22.2% | 23.2% - 23.4% | 23.4% - 23.6% | Yes | Yes | Yes | 100 | |||||||
Income Generation Loan 2+ | 26.7% - 27.2% | 28.2% - 28.7% | 28.3% - 28.9% | Yes | Yes | Yes | 97 |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
General Loan | 26.0% annual, Decl Bal | 1 Fee | 0 Ins | 12.36% fees | N/A | 29.3% - 30.2% | 29.6% - 30.5% | 86 | ||||||||
Income Generation Loan | 26.0% annual, Decl Bal | 1 Fee | 0 Ins | 12.36% fees | N/A | 29.3% - 30.2% | 29.6% - 30.5% | 86 | ||||||||
Jeevandhara | 22.0% annual, Decl Bal | 1 Fee | 0 Ins | 12.36% fees | N/A | 23.8% - 25.5% | 24.1% - 25.8% | 89 | ||||||||
Nirmal | 22.0%-26.0% annual, Decl Bal | 1 Fee | 0 Ins | 12.36% fees | N/A | 23.2% - 23.4% | 23.4% - 23.6% | 93 | ||||||||
Income Generation Loan 2+ | 26.0% annual, Decl Bal | 1 Fee | 0 Ins | 12.36% fees | N/A | 28.2% - 28.7% | 28.3% - 28.9% | 90 |
Outstanding portfolio (COP) | COP 423,368,000,000 |
Portfolio (USD) | USD 232,619,780.20 |
Active Clients with Loans | 294,983 |
Approximate % Female Clients | 60% - 80% |
Approximate % Urban Clients | 20% - 40% |
Individual | x |
Solidarity group | |
Village banking | x |
Self help group | |
Other |
Any purpose | x |
Income generation | |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
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 | x |
Must own a home or land | |
Must be a salaried worker | |
Must be specific age group | x |
Other | |
Other (2) |
# Regions for this institution | N/A |
# Regions for this product | N/A |
Regions Active |
Currency | COP |
Minimum loan size | COP 400,000 |
Maximum loan size | 61,800,000 |
Shortest loan term | 1.0 month |
Longest loan term | 48.0 months |
Approx average | 14.0 months |
Grace period usage | 0 |
Average grace period | 0 |
Daily | |
Weekly | x |
Every 2 weeks | |
Every 4 weeks | |
Monthly | x |
Every 2 months | |
Quarterly | |
Every 6 months | |
Every 12 months | |
Single end payment | |
Irregular payments | x |
Lowest quoted nominal interest | 2.20% |
Highest quoted nominal interest | 2.46% |
Reason(s) why interest rate varies | Loan Size |
Interest rate period | Monthly |
Interest Rate Calculation Method | Decl Bal |
Subsidized by funder request? | |
Is rate fixed for entire loan term | Yes |
Fee 1 | |
---|---|
Description | Comisio por la Ley Mipyme |
% of loan amount - min | 4.50% |
% of loan amount - max | 7.50% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | Yes |
Ins 1 | |
---|---|
Description | Seguro de Cartera |
% of loan amount - min | 0.40% |
% 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 | 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 | |||||
---|---|---|---|---|---|---|---|---|---|
Loan Amount | COP 1,215,378 | COP 3,553,590 | COP 7,048,930 | COP 29,167,760 | COP 40,167,760 | ||||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | ||||
Disbursement Date | 2011-03-17 | 2011-01-28 | 2011-02-09 | 2011-01-26 | 2011-03-02 | ||||
Loan Term (Months) | 11.0 months | 23.0 months | 15.0 months | 36.0 months | 36.0 months | ||||
Grace Period (Months) | 0.0 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 | Not Known | ||||
True Price by Comp | |||||||||
Interest and Fee Component | 41.6% | 38.2% | 37.4% | 30.0% | 29.9% | ||||
Insurance Component | 0.7% | 0.7% | 0.6% | 0.7% | 0.8% | ||||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||||
Deposit Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||||
Full APR (int fee ins tax dep) | 42.3% | 38.9% | 38.0% | 30.7% | 30.7% | ||||
Transparency Index | 62 | 68 | 69 | 86 | 86 | ||||
Original Repayment Schedule | |||||||||
MFT Pricing Calculation |
Key Statistics | |
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Loan Portfolio (USD) | |
% Products using declining balance | |
% Products with one or more fee | |
% Products with one or more insurances | |
% Products with compulsory deposits |
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