Institution Type | Private 'For-Profit' |
Is this institution regulated? | Yes |
Website address | http://www.gfspl.in/ |
Year established | 1999 |
Head of Institution | Suresh K. Krishna |
Regions active | 0 |
# Branches | 146 |
Total Portfolio (nat'l) | INR 3,301,716,632 |
Total Portfolio (USD) | USD 73,371,480.71 |
Active clients with loans | 352,648 |
Approximate % female clients | 80% - 100% |
Approximate % urban clients | 20% - 40% |
Network affiliations |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Emergency Loan | INR 500 - 1,000 | 2.5 | 80% - 100% | 20% - 40% | Business, Housing, Consumer, Education, Other | Women | Credit Educ, Group Mtgs, Business Training | |||||||
Water Connection Loan | INR 5,000 - 5,000 | 24 | 80% - 100% | 0% - 20% | Housing, For taking water connection | Women, Have home or land | Credit Educ, Group Mtgs, Credit Ins, Business Training | |||||||
General Loan | INR 2,000 - 30,000 | 11.5 | 80% - 100% | 20% - 40% | Business, From 4th loan cycle allowed for Welfae activities | Women | Credit Educ, Group Mtgs, Credit Ins, Business Training | |||||||
IGL-Pragati | INR 5,000 - 15,000 | 12 | 80% - 100% | 0% - 20% | Business | Women | ||||||||
IGL-Pragati Plus | INR 16,000 - 25,000 | 24 | 80% - 100% | 0% - 20% | Business | Women | ||||||||
Income Generating Loan | INR 2,000 - 30,000 | 11.5 | 80% - 100% | 20% - 40% | Business, Housing, Consumer, Education, Other, From 4th loan cycle the loan can be utilised for w | Women | Credit Educ, Group Mtgs, Credit Ins, Business Training | |||||||
Individual Loan | INR 20,000 - 50,000 | 3 - 9 | 20% - 40% | 80% - 100% | Business | Women, Men, Have business | Credit Educ | |||||||
Individual Loan (Offered by "Maarg" Division of GFS) | INR 20,000 - 50,000 | 3 - 9 | 20% - 40% | 80% - 100% | Business | Women, Men, Have business | Credit Educ | |||||||
Sanitation Loan | INR 7,000 - 10,000 | 24 | 80% - 100% | 0% - 20% | Housing, For construction of toilets | Women, Have home or land | Group Mtgs, Business Training | |||||||
Siksha Loan | INR 10,000 - 15,000 | 3 - 6 | 0% - 20% | 80% - 100% | Education | Women, Men | Credit Educ, Group Mtgs | |||||||
Supplementary Loan | INR 2,000 - 4,000 | 6 | 80% - 100% | 20% - 40% | Business | Women | Credit Educ, Group Mtgs, Business Training | |||||||
Supplementary Loan 2 | INR 2,000 - 4,000 | 6 | 80% - 100% | 20% - 40% | Business | Women | Credit Educ, Group Mtgs, Business Training | |||||||
Water and Sanitation Loan | INR 7,000 - 7,000 | 23.2 | 80% - 100% | 0% - 20% | Housing | Women, Have home or land | Credit Educ, Group Mtgs, Credit Ins |
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 | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Emergency Loan | 0% | 29.1% | 30.1% | N/A | ||||||||||
Water Connection Loan | 0% | 22.2% | 23.1% | N/A | ||||||||||
General Loan | 28.4% | 28.4% - 30.8% | 30.1% - 41.4% | N/A | ||||||||||
IGL-Pragati | 0% | 27.9% - 28.2% | 29.9% - 32.4% | N/A | ||||||||||
IGL-Pragati Plus | 0% | 26.2% - 27.1% | 27.6% - 28.1% | N/A | ||||||||||
Income Generating Loan | 0% | 0% | 0% | N/A | ||||||||||
Individual Loan | 0% | 41.3% - 41.4% | 42.7% - 44.1% | N/A | ||||||||||
Individual Loan (Offered by "Maarg" Division of GFS) | 0% | 0% | 0% | N/A | ||||||||||
Sanitation Loan | 0% | 22.2% | 22.9% - 23.3% | N/A | ||||||||||
Siksha Loan | 0% | 30.5% - 31.8% | 30.5% - 31.8% | N/A | ||||||||||
Supplementary Loan | 0% | 36.3% - 36.4% | 36.3% - 36.4% | N/A | ||||||||||
Supplementary Loan 2 | 0% | 0% | 0% | N/A | ||||||||||
Water and Sanitation Loan | 0% | 22.8% | 23.8% | N/A |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Emergency Loan | 0.0% annual, Decl Bal | 0 Fees | 0 Ins | None | N/A | 29.1% | 30.1% | 0 | ||||||||
Water Connection Loan | 21.0% annual, Decl Bal | 1 Fee | 0 Ins | None | N/A | 22.2% | 23.1% | 91 | ||||||||
General Loan | 24.0% annual, Decl Bal | 2 Fees | 0 Ins | None | N/A | 28.4% - 30.8% | 30.1% - 41.4% | N/A | ||||||||
IGL-Pragati | 26.0% annual, Decl Bal | 1 Fee | 1 Ins | None | N/A | 27.9% - 28.2% | 29.9% - 32.4% | 83 | ||||||||
IGL-Pragati Plus | 26.0% annual, Decl Bal | 1 Fee | 0 Ins | None | N/A | 26.2% - 27.1% | 27.6% - 28.1% | 93 | ||||||||
Income Generating Loan | 24.0% annual, Decl Bal | 1 Fee | 0 Ins | None | N/A | 0% | 0% | N/A | ||||||||
Individual Loan | 28.3% annual, Decl Bal | 0 Fees | 0 Ins | None | N/A | 41.3% - 41.4% | 42.7% - 44.1% | 70 | ||||||||
Individual Loan (Offered by "Maarg" Division of GFS) | 28.3% annual, Decl Bal | 0 Fees | 0 Ins | None | N/A | 0% | 0% | N/A | ||||||||
Sanitation Loan | 21.0% annual, Decl Bal | 1 Fee | 0 Ins | None | N/A | 22.2% | 22.9% - 23.3% | 91 | ||||||||
Siksha Loan | 28.3% annual, Decl Bal | 1 Fee | 0 Ins | None | N/A | 30.5% - 31.8% | 30.5% - 31.8% | 91 | ||||||||
Supplementary Loan | 23.6% annual, Decl Bal | 1 Fee | 0 Ins | None | N/A | 36.3% - 36.4% | 36.3% - 36.4% | 65 | ||||||||
Supplementary Loan 2 | 23.6% annual, Decl Bal | 0 Fees | 0 Ins | None | N/A | 0% | 0% | N/A | ||||||||
Water and Sanitation Loan | 20.0% annual, Decl Bal | 1 Fee | 0 Ins | None | N/A | 22.8% | 23.8% | N/A |
Outstanding portfolio (INR) | INR 1,285,427 |
Portfolio (USD) | USD 24,253.34 |
Active Clients with Loans | 1,236 |
Approximate % Female Clients | 100% |
Approximate % Urban Clients | 20% - 40% |
Individual | |
Solidarity group | x |
Village banking | |
Self help group | |
Other |
Any purpose | |
Income generation | |
Mortgage/housing | |
Consumer loan | x |
Agriculture | |
Education | |
Other household finance | |
Other | |
Other (2) |
Credit education | x |
Group meetings | x |
Credit insurance | |
Workplace visits | |
Business training | |
Other training | |
Other | Jagruthi- Client Education Series |
Other (2) | Socio-Economic Development Workshop |
No other services |
Men | |
Women | x |
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 | x |
Household income <120,000 INR | x |
Must live in rural area | |
Must lives in urban area | |
Other | |
Other (2) |
# Regions for this institution | 3 |
# Regions for this product | 1 |
Regions Active | Karnataka |
Currency | INR |
Minimum loan size | INR 1,250 |
Maximum loan size | 1,250 |
Loans less than INR 5,000 | 100% |
INR 5,000-15,000 | 0 |
INR 15,000-25,000 | 0 |
INR 25,000-35,000 | 0 |
INR 35,000-45,000 | 0 |
Greater than INR 45,000 | 0 |
Shortest loan term | 5.6 months |
Longest loan term | 5.6 months |
Approx average | 5.6 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 100% |
Between 7 and 9 months | 0 |
Between 10 and 12 months | 0 |
Between 13 and 18 months | 0 |
Longer than 18 months | 0 |
Grace period usage | 100% |
Average grace period | 0.2 months |
Daily | |
Weekly | x |
Every 2 weeks | x |
Every 4 weeks | |
Monthly | |
Every 2 months | |
Quarterly | |
Every 6 months | |
Every 12 months | |
Single end payment | |
Irregular payments |
Lowest quoted nominal interest | 24.00% |
Highest quoted nominal interest | 24.00% |
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 | |
---|---|
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 |
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? | Yes |
Percentage of fees | 12.4% |
All or some fees taxed | Some |
Sample 1 | Sample 2 | Sample 3 | |||
---|---|---|---|---|---|
Loan Amount | INR 1,250 | INR 1,250 | INR 1,250 | ||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
Disbursement Date | 2013-04-16 | 2013-04-16 | 2013-04-16 | ||
Loan Term (Months) | 5.6 months | 5.6 months | 5.6 months | ||
Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | ||
Total Cost of Credit | INR 90.05 | INR 90.05 | INR 90.05 | ||
True Price by Comp | |||||
Interest price component | 24.2% | 24.2% | 24.2% | ||
Fee Component | 4.1% | 4.1% | 4.1% | ||
Insurance Component | 0.0% | 0.0% | 0.0% | ||
Tax Component | 0.6% | 0.6% | 0.6% | ||
Deposit Component | 0.0% | 0.0% | 0.0% | ||
Full APR (int fee ins tax dep) | 28.9% | 28.9% | 28.9% | ||
MFIN MFI Earning (Annualised) | 28.3% | 28.3% | 28.3% | ||
MFIN Cost to Borrower (Annualised) | 28.9% | 28.9% | 28.9% | ||
Transparency Index | 83 | 83 | 83 | ||
MFIN Transparency Index | 99 | 99 | 99 | ||
Original Repayment Schedule | |||||
MFT Pricing Calculation |
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Loan Portfolio (USD) | |
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% Products with one or more insurances | |
% Products with compulsory deposits |
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