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Institution
Data approved: 2013-05-14
Data version: 3
Age of data: 143 months
Key Statistics
| Outstanding portfolio (INR) | INR 8,350,520 |
| Portfolio (USD) | USD 157,556.98 |
| Active Clients with Loans | 356 |
| Approximate % Female Clients | 100% |
| Approximate % Urban Clients | 20% - 40% |
Methodology
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other | |
Description
It is a product in Social Welfare category. It is for meeting repairs and renovation and Minor extensions/additions
Loan Purpose
| Any purpose | |
| Income generation | |
| Mortgage/housing | x |
| 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 | |
| Other training | |
| Other | Jagruthi- Client Education Series |
| Other (2) | Socio-Economic Development Workshop |
| No other services | |
Eligibility
| Men | |
| Women | x |
| Must run a business | |
| Must own a home or land | x |
| Must be a salaried worker | |
| Must be specific age group | |
| Household income <60,000 INR | x |
| Household income <120,000 INR | x |
| Must live in rural area | |
| Must lives in urban area | |
| Other | All active members applying for this loan should have successfully completed 2 loan cycles of IGL Pragati/Pragati Plus loan. |
| Other (2) | |
Portfolio Size by Product
Geographic Coverage
| # Regions for this institution | 3 |
| # Regions for this product | 1 |
| Regions Active | Karnataka |
Loan Conditions
Loan Amount
| Currency | INR |
| Minimum loan size | INR 1,000 |
| Maximum loan size | 25,000 |
Distribution at Disbursement (Est.)
| Loans less than INR 5,000 | 0 |
| INR 5,000-15,000 | 0 |
| INR 15,000-25,000 | 100% |
| INR 25,000-35,000 | 0 |
| INR 35,000-45,000 | 0 |
| Greater than INR 45,000 | 0 |
Loan Term and Grace Period
| Shortest loan term | 24.2 months |
| Longest loan term | 48.4 months |
| Approx average | 25.6 months |
Distribution at Disbursement (Est.)
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 0 |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 0 |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 100% |
Grace Period
| Grace period usage | 100% |
| Average grace period | 0.2 months |
Repayment Frequency
| Daily | |
| Weekly | x |
| Every 2 weeks | x |
| Every 4 weeks | x |
| Monthly | |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments | |
Pricing Information
Interest
| Lowest quoted nominal interest | 22.00% |
| Highest quoted nominal interest | 22.00% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 |
|---|
| Description | Processing 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? | Yes |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 |
|---|
| Description | Insurance Fees |
| % of loan amount - min | 0 |
| % of loan amount - max | 0 |
| OR, Fixed amount - min | 5.17 |
| Fixed amount - max | 22.56 |
| Reason for variation | 104 week loan = Rs 5.17 per Rs 1000 (fee for Spouse Rs 5.17 per Rs 1000). 156 week loan = Rs 8.02 per Rs 1000 (fee for Spouse Rs 8.02 per Rs 1000). 208 week loan = Rs 11.28 per Rs 1000 (fee for Spouse Rs 11.28 per Rs 1000) |
| Appears on Repayment Sched? | Yes |
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
| Required for | Never |
| Criteria | N/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 deposited | N/A |
| or, Fixed-amount deposited | N/A |
Deposits DURING period payments
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| Conditions on access to deposit | N/A |
Interest Paid on Deposit
| Minimum interest rate paid | N/A |
| Maximum interest rate paid | N/A |
| Interest payment frequency | N/A |
Taxes
| Are taxes charged on this product? | Yes |
| Percentage of fees | 12.4% |
| All or some fees taxed | Some |
Additional Comments
Moratorium Period (Repayment Holiday) - one installment for principal only
Full Pricing Data
Grameen Niwas samples
| Sample 1 | | Sample 2 | | Sample 3 |
|---|
| Loan Amount | INR 20,000 | | INR 20,000 | | INR 20,000 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2013-04-03 | | 2013-04-25 | | 2013-03-28 |
| Loan Term (Months) | 24.0 months | | 24.0 months | | 24.0 months |
| Grace Period (Months) | 0.0 months | | 0.0 months | | 0.0 months |
| Total Cost of Credit | INR 5,445.72 | | INR 5,216.72 | | INR 5,495.72 |
| True Price by Comp | | | | | |
| Interest price component | 21.8% | | 22.0% | | 21.8% |
| Fee Component | 1.1% | | 1.1% | | 1.1% |
| Insurance Component | 1.0% | | 1.1% | | 1.3% |
| Tax Component | 0.1% | | 0.1% | | 0.1% |
| Deposit Component | 0.0% | | 0.0% | | 0.0% |
| Full APR (int fee ins tax dep) | 24.0% | | 24.3% | | 24.3% |
| MFIN MFI Earning (Annualised) | 22.9% | | 23.1% | | 22.9% |
| MFIN Cost to Borrower (Annualised) | 24.0% | | 24.3% | | 24.3% |
| Transparency Index | 92 | | 91 | | 91 |
| MFIN Transparency Index | 100 | | 100 | | 100 |
| | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF |
* The APR stated here is an MFTransparency term, definition and formula
Grameen Niwas Price Graphs
