Please note that the information you are viewing is
136 months old and may not represent the prices currently charged.
If you represent this MFI and wish to update your information,
click HERE
Institution
Data approved: 2013-05-06
Data version: 2
Age of data: 136 months
Institution Type | Non Bank Financial Institution |
Is this institution regulated? | Yes |
Website address | http://www.gvmfl.com/ |
Year established | 1986 |
Head of Institution | Mr.S.Devaraj, Chairman and Managing Director |
Regions active | Madhya Pradesh, Maharashtra, Tamil Nadu, Puducherry |
# Branches | 285 |
Total Portfolio (nat'l) | INR 5,411,394,265 |
Total Portfolio (USD) | USD 102,101,778.60 |
Active clients with loans | 738,218 |
Approximate % female clients | 80% - 100% |
Approximate % urban clients | 20% - 40% |
Network affiliations | MFIN, Sadhan, MIX |
738,218 Borrowers
USD 102,101,778.60 Portfolio
Active Product
Loan Products » Conditions
Product Name |
|
Loan Size Range |
|
Loan Term (months) |
|
% Female |
|
% Urban |
|
Loan Purpose |
|
Eligibility |
|
Other Services |
General Loan |
|
INR 10,000 - 15,000 |
|
6 - 12 |
|
100% |
|
20% - 40% |
|
Business |
|
Women |
|
Credit Educ, Group Mtgs |
Loan Products » MFIN India Additional Information
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 |
|
23.3% - 23.7% |
|
25.4% - 27.9% |
|
27.5% - 31.4% |
|
Yes |
|
Yes |
|
Yes |
|
100 |
Loan Products » Pricing Information
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 |
|
1 Ins |
|
12.36% fees |
|
N/A |
|
25.4% - 27.9% |
|
27.5% - 31.4% |
|
87 |
Please note that the information you are viewing is
168 months old and may not represent the prices currently charged.
If you represent this MFI and wish to update your information,
click HERE
Institution
Data approved: 2010-11-08
Data version: 1
Age of data: 168 months
Key Statistics
Outstanding portfolio (USD) | USD 111,491 |
Portfolio (USD) | USD 111,491 |
Active Clients with Loans | 180 |
Approximate % Female Clients | 60% - 80% |
Approximate % Urban Clients | 80% - 100% |
Methodology
Individual | |
Solidarity group | x |
Village banking | |
Self help group | |
Other | |
Description
Es un crédito donde la garantía es solidaria en el grupo el cual está conformado por un mínimo de 5 personas. Utlizan el crédito para el desarrollo de iniciativas económicas. La documentación utilizada es la mínima.
Loan Purpose
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | |
Other (2) | |
Included Services
Credit education | x |
Group meetings | x |
Credit insurance | x |
Workplace visits | |
Business training | x |
Other training | |
Other | Capacitación en proyectos de vida y espíritu emprendedor |
Other (2) | |
No other services | |
Eligibility
Men | x |
Women | x |
Must run a business | |
Must own a home or land | |
Must be a salaried worker | |
Must be specific age group | |
Other | Los grupos se conforman con personas de la misma zona de residencia |
Other (2) | Se utiliza la garantía grupal |
Portfolio Size by Product
Geographic Coverage
# Regions for this institution | N/A |
# Regions for this product | N/A |
Regions Active | |
Loan Conditions
Loan Amount
Currency | USD |
Minimum loan size | USD 500 |
Maximum loan size | 1,500 |
Loan Term and Grace Period
Shortest loan term | 6.0 months |
Longest loan term | 15.0 months |
Approx average | 8.0 months |
Grace Period
Grace period usage | 0 |
Average grace period | 0 |
Repayment Frequency
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 | |
Pricing Information
Interest
Lowest quoted nominal interest | 14.00% |
Highest quoted nominal interest | 18.50% |
Reason(s) why interest rate varies | Loan Purpose |
Interest rate period | Yearly |
Interest Rate Calculation Method | Decl Bal |
Subsidized by funder request? | |
Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 |
---|
Description | Seguro de Desgravamen |
% of loan amount - min | 1.00% |
% of loan amount - max | 1.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | |
Appears on Repayment Sched? | No |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
This product has no upfront insurance feesOngoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required for | All |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | Yes |
Do borrowers control deposit in their group? | Yes |
Deposit BEFORE or AT Disbursement
% loan amount deposited | 0 |
or, Fixed-amount deposited | 0 |
Deposits DURING period payments
% loan amount deposited | 0 |
or, Fixed-amount deposited | USD 5 |
Conditions on access to deposit | Access During |
Interest Paid on Deposit
Minimum interest rate paid | 1.50% |
Maximum interest rate paid | 4.00% |
Interest payment frequency | Monthly |
Taxes
Are taxes charged on this product? | No |
Additional Comments
Las reuniones que se tienen esta metodología permiten que los integrantes de grupo vayan formandose en temas de autoestima, administración de negocios, desarollo comunitario, etc. No utilizamos las reuniones para cobros. Adicionalmente el grupo tiene una cuenta de ahorros en general como grupo en donde depositan los ahorros de sus integrantes de acuerdo al compromiso al que llegaron al inicio. Cada integrante de grupo tiene su propia cuenta de ahorros en donde realizamos pagos.
Full Pricing Data
Crédito Grupal Solidario samples
| Sample 1 | | Sample 2 | | Sample 3 |
---|
Loan Amount | USD 1,000 | | USD 1,000 | | USD 1,000 |
Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known |
Disbursement Date | 2010-07-29 | | 2010-08-18 | | 2010-08-18 |
Loan Term (Months) | 12.0 months | | 10.0 months | | 10.0 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 | 18.8% | | 18.8% | | 18.8% |
Insurance Component | 1.9% | | 2.3% | | 2.3% |
Tax Component | 0.0% | | 0.0% | | 0.0% |
Deposit Component | 0.1% | | 0.2% | | 0.2% |
Full APR (int fee ins tax dep) | 20.8% | | 21.2% | | 21.2% |
Transparency Index | 67 | | 66 | | 66 |
| | | | | |
Original Repayment Schedule | PDF | | PDF | | PDF |
MFT Pricing Calculation | PDF | | PDF | | PDF |
Crédito Grupal Solidario Price Graphs