| Institution Type | Non Bank Financial Institution |
| Is this institution regulated? | Yes |
| Website address | http://www.ffslmfi.com/ |
| Year established | 2007 |
| Head of Institution | G. Dashratha Reddy |
| Regions active | Andhra Pradesh, Karnataka |
| # Branches | 110 |
| Total Portfolio (nat'l) | INR 2,041,266,962 |
| Total Portfolio (USD) | USD 38,514,470.98 |
| Active clients with loans | 179,620 |
| Approximate % female clients | 100% |
| Approximate % urban clients | 0 |
| Network affiliations | MFIN, Sa-Dhan |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Monthly Loan | INR 12,000 - 30,000 | 19 - 26 | 100% | 0% | Business | Women | Group Mtgs, Credit Ins, Other Training | |||||||
| Fortnightly Loan | INR 12,000 - 30,000 | 19 - 26 | 100% | 100% | Business | Women | Group Mtgs, Credit Ins, Other 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Monthly Loan | 24.7% - 25.6% | 26% - 26.7% | 29.8% - 30.8% | Yes | Yes | Yes | 100 | |||||||
| Fortnightly Loan | 27.6% - 27.7% | 28.8% - 29% | 33.2% - 33.4% | Yes | Yes | Yes | 94 |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Monthly Loan | 26.0% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 26% - 26.7% | 29.8% - 30.8% | 85 | ||||||||
| Fortnightly Loan | 26.0% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 28.8% - 29% | 33.2% - 33.4% | 78 |
| Outstanding portfolio (ZMK) | ZMK 143,000,000 |
| Portfolio (USD) | USD 27,632.85 |
| Active Clients with Loans | 45 |
| Approximate % Female Clients | 0% - 20% |
| Approximate % Urban Clients | 20% - 40% |
| 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 | x |
| Women | x |
| Must run a business | x |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | |
| Other | Be in a business or start one; belong to a dairy cooperative |
| Other (2) |
| # Regions for this institution | N/A |
| # Regions for this product | N/A |
| Regions Active |
| Currency | ZMK |
| Minimum loan size | ZMK 500,000 |
| Maximum loan size | 25,000,000 |
| Shortest loan term | 6.0 months |
| Longest loan term | 24.0 months |
| Approx average | 24.0 months |
| Grace period usage | 50% |
| Average grace period | 3.0 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 | 30.00% |
| Highest quoted nominal interest | 30.00% |
| 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 | Fee 2 | ||
|---|---|---|---|
| Description | Processing fee | Application form | |
| % of loan amount - min | 3.00% | 0 | |
| % of loan amount - max | 3.00% | 0 | |
| OR, Fixed amount - min | 0 | 20,000 | |
| Fixed amount - max | 0 | 20,000 | |
| Reason for variation | N/A | N/A | |
| Appears on Repayment Sched? | No | No |
| Ins 1 | |
|---|---|
| Description | Credit Life Assurance |
| % 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 | |||
|---|---|---|---|---|---|
| Loan Amount | ZMK 3,000,000 | ZMK 6,000,000 | ZMK 7,000,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2011-02-28 | 2011-02-28 | 2011-02-28 | ||
| Loan Term (Months) | 12.0 months | 12.0 months | 12.0 months | ||
| Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | ||
| Total Cost of Credit | Not Known | Not Known | Not Known | ||
| True Price by Comp | |||||
| Interest and Fee Component | 59.8% | 59.1% | 59.0% | ||
| Insurance Component | 4.5% | 4.5% | 4.5% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 0.0% | 0.0% | 0.0% | ||
| Full APR (int fee ins tax dep) | 64.4% | 63.6% | 63.5% | ||
| Transparency Index | 47 | 47 | 47 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| Key Statistics | |
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| # 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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