2. FFSL
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  2. OISL
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Institution

Future Financial Servicess Ltd. #17/1, GRA Tower, Ambalipura Main RoadOff. Sarjapur Road, Agara PostBangalore, KarnatakaPO Box 560 103
Data approved: 2013-07-16
Data version: 3
Age of data: 139 months
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Institution

Opportunity International Savings & Loans Ltd. No. D765/3 Kwame Nkrumah AvenueAccra, Greater AccraPO Box JT 323
Data approved: 2013-03-12
Data version: 2
Age of data: 139 months
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Product

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Product Summary

Number borrowers145,779
Loan Amount (range)INR 12,000 - 30,000
Loan Term (range)19 - 26
Other Services (text summary)Group Mtgs, Credit Ins, Other Training
Annual Interest & Method26.0% annual, Decl Bal
Fees1.00% upfront
Insurance410.00-1,109.00 upfront
Tax12.36% fees
Comp DepN/A
Range of pricing 
Interest Price Component24.7% - 27.7%
Fee Component1.1% - 1.4%
Insurance Component3.6% - 4.4%
Tax Component Range0.1% - 0.2%
Full APR (int fee ins tax dep)29.8% - 30.8%
Transparency Index (min/max)78 - 87
Transparency Index (average)85

Product Summary

273
GHS 270 - 15,000
6 - 24
Credit Educ, Credit Ins
24.0% annual, Flat
3.50% upfront 3.00 upfront
1.00% ongoing
None
N/A
 
33.9% - 69.6%
2.9% - 24.0%
0.5% - 4.4%
0
44.6% - 50.6%
31 - 88
51

Product Details

Key Statistics
Outstanding portfolio (INR)INR 1,813,024,841
Portfolio (USD)USD 34,208,015.87
Active Clients with Loans145,779
Approximate % Female Clients100%
Approximate % Urban Clients0
Methodology
Individual
Solidarity groupx
Village banking
Self help group
Other
Description
Loan has to be disposed with monthly payment
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit education
Group meetingsx
Credit insurancex
Workplace visits
Business training
Other trainingx
Other
Other (2)
No other services
Eligibility
Men
Womenx
Must run a business
Must own a home or land
Must be a salaried worker
Must be specific age group
Household income <60,000 INR
Household income <120,000 INR
Must live in rural area
Must lives in urban area
Other
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution2
# Regions for this product2
Regions ActiveKarnataka, Tamil Nadu

Product Details

Key Statistics
Outstanding portfolio (GHS)GHS 284,584
Portfolio (USD)USD 144,458.88
Active Clients with Loans273
Approximate % Female Clients20% - 40%
Approximate % Urban Clients100%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
Family loan is designed to provide simple repayment schedule with no collateral for some loans, like Salary loan.
Loan Purpose
Any purposex
Income generation
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit educationx
Group meetings
Credit insurancex
Workplace visits
Business training
Other training
Other
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a businessx
Must own a home or land
Must be a salaried workerx
Must be specific age group
Other
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution6
# Regions for this product6
Regions ActiveGreater Accra Region, Central Region, Western Region, Eastern Region, Ashanti Region, Brong Ahafo Region

Loan Conditions

Loan Amount
CurrencyINR
Minimum loan sizeINR 12,000
Maximum loan size30,000
Distribution at Disbursement (Est.)
Loans less than INR 5,0000
INR 5,000-15,00010%
INR 15,000-25,00040%
INR 25,000-35,00050%
INR 35,000-45,0000
Greater than INR 45,0000
Loan Term and Grace Period
Shortest loan term19.0 months
Longest loan term26.0 months
Approx averageDK
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months0
Between 7 and 9 months0
Between 10 and 12 months0
Between 13 and 18 months0
Longer than 18 months100%
Grace Period
Grace period usage0
Average grace period0
Repayment Frequency
Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Loan Conditions

Loan Amount
CurrencyGHS
Minimum loan sizeGHS 270
Maximum loan size15,000
Distribution at Disbursement (Est.)
Loans less than GHS 1,00060%
GHS 1,000-5,00040%
GHS 5,000-7,5000
GHS 7,500-10,0000
GHS 10,000-13,0000
Greater than GHS 13,0000
Loan Term and Grace Period
Shortest loan term6.0 months
Longest loan term24.0 months
Approx average14.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months30%
Between 7 and 9 months10%
Between 10 and 12 months30%
Between 13 and 18 months10%
Longer than 18 months20%
Grace Period
Grace period usage100%
Average grace period1.0 month
Repayment Frequency
Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest
Lowest quoted nominal interest26.00%
Highest quoted nominal interest26.00%
Interest rate periodYearly
Interest Rate Calculation MethodDecl Bal
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionProcessing Fee
% of loan amount - min1.00%
% of loan amount - max1.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?Yes
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionInsurance Fee (Borrower & Guarantor)
% of loan amount - min0
% of loan amount - max0
OR, Fixed amount - min410
Fixed amount - max1,109
Reason for variationPremium varies with loan size and loan tenure
Appears on Repayment Sched?Yes
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forNever
CriteriaN/A
Is deposit indicated on the repayment schedule?N/A
Do borrowers control deposit in their group?N/A
Deposit BEFORE or AT Disbursement
% loan amount depositedN/A
or, Fixed-amount depositedN/A
Deposits DURING period payments
% loan amount depositedN/A
or, Fixed-amount depositedN/A
Conditions on access to depositN/A
Interest Paid on Deposit
Minimum interest rate paidN/A
Maximum interest rate paidN/A
Interest payment frequencyN/A
Taxes
Are taxes charged on this product?Yes
Percentage of fees12.4%
All or some fees taxedSome
Additional Comments
FFSL displays Effective Annualized Cumulative Rates in the passbook. EACR as mentioned for the product varies 30.60% to 30.98%

Pricing Information

Interest
Lowest quoted nominal interest24.00%
Highest quoted nominal interest24.00%
Reason(s) why interest rate variesTime as Client, Loan Size, Client Risk, Loan Purpose
Interest rate periodYearly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1Fee 2
DescriptionProcessing FeeApplication Fee
% of loan amount - min3.50%0
% of loan amount - max3.50%0
OR, Fixed amount - min03
Fixed amount - max03
Reason for variationN/AN/A
Appears on Repayment Sched?NoNo
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
This product has no upfront insurance fees
Ongoing Insurance Fees
Ins 1
DescriptionInsurance Fee
% of loan amount - min1.00%
% of loan amount - max1.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variation1% of total loan amount, divided and charged equally throughout loan term.
Appears on Repayment Sched?Yes
Compulsory Deposit
Required forNever
CriteriaN/A
Is deposit indicated on the repayment schedule?N/A
Do borrowers control deposit in their group?N/A
Deposit BEFORE or AT Disbursement
% loan amount depositedN/A
or, Fixed-amount depositedN/A
Deposits DURING period payments
% loan amount depositedN/A
or, Fixed-amount depositedN/A
Conditions on access to depositN/A
Interest Paid on Deposit
Minimum interest rate paidN/A
Maximum interest rate paidN/A
Interest payment frequencyN/A
Taxes
Are taxes charged on this product?No
Additional Comments
N/A

Full Pricing Data

Monthly Loan samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountINR 15,000INR 20,000INR 25,000INR 30,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot Known
Disbursement Date2013-06-142013-06-202013-06-042013-06-04
Loan Term (Months)19.0 months25.0 months24.0 months24.0 months
Grace Period (Months)0.4 months0.2 months0.0 months0.0 months
Total Cost of CreditINR 3,874INR 6,877INR 8,577INR 10,278
True Price by Comp       
Interest price component24.7%25.3%25.6%25.6%
Fee Component1.3%1.1%1.1%1.1%
Insurance Component3.6%3.9%4.0%4.0%
Tax Component0.2%0.1%0.1%0.1%
Deposit Component0.0%0.0%0.0%0.0%
Full APR (int fee ins tax dep)29.8%30.4%30.8%30.8%
MFIN MFI Earning (Annualised)26.0%26.4%26.7%26.7%
MFIN Cost to Borrower (Annualised)29.8%30.4%30.8%30.8%
Transparency Index87858484
MFIN Transparency Index100100100100
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF
* The APR stated here is an MFTransparency term, definition and formula

Full Pricing Data

Salary Loan samples
Sample 1Sample 2Sample 3Sample 4Sample 5Sample 6
Loan AmountGHS 300GHS 900GHS 1,639.59GHS 3,200GHS 10,000GHS 5,400
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot KnownNot KnownNot Known
Disbursement Date2012-11-162012-10-102012-09-282012-06-142012-09-272012-10-24
Loan Term (Months)12.0 months24.0 months12.0 months24.0 months24.0 months24.0 months
Grace Period (Months)0.4 months0.0 months0.0 months0.0 months0.0 months0.2 months
Total Cost of CreditGHS 90.66GHS 475.50GHS 470.27GHS 1,683GHS 5,272.92GHS 2,820
True Price by Comp           
Interest price component39.7%40.2%41.1%40.2%40.4%39.5%
Fee Component8.6%4.3%7.4%4.0%4.0%3.9%
Insurance Component1.5%1.2%2.1%1.2%1.1%1.2%
Tax Component0.0%0.0%0.0%0.0%0.0%0.0%
Deposit Component0.0%0.0%0.0%0.0%0.0%0.0%
Full APR (int fee ins tax dep)49.8%45.7%50.6%45.4%45.5%44.6%
Transparency Index485347535354
            
Original Repayment SchedulePDFPDFPDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDFPDFPDF
Monthly Loan Price Graphs


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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
Filter table:
Country InstAbbrev SampleCode Loan Amount USD Loan Term (Months) SampClients FullAPR DateApproved
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