Institution Type | Non Bank Financial Institution |
Is this institution regulated? | Yes |
Website address | http://www.gopportunity.net/ |
Year established | 2006 |
Head of Institution | Mr. James. A. Reiff |
Regions active | |
# Branches | 13 |
Total Portfolio (nat'l) | INR 280,000,000 |
Total Portfolio (USD) | USD 5,283,018.87 |
Active clients with loans | 65,000 |
Approximate % female clients | 80% - 100% |
Approximate % urban clients | 40% - 60% |
Network affiliations |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Livestock Loan | INR 12,000 - 20,000 | 12 - 24 | 80% - 100% | 0% - 20% | Business, Only for purchase of farm animals | Women | Group Mtgs, Other Training, Training from veterinarian, Health / Social Issue Training | |||||||
Rural Trust Bank | INR 3,000 - 15,000 | 6 - 12 | 80% - 100% | 0% - 20% | Business | Women, Have business | Group Mtgs, Tech Asst Visits, Business Training, Other Training, Health / Social Issue Training | |||||||
Student Loan | INR 3,000 - 5,000 | 12 | 80% - 100% | 60% - 80% | Business, Education | Women, Must have children of a qualified age in school, Must have completed one loan cycle with the MFI | Other Training, Scholarships are available, some reserved for top scorers and others reserved for female students | |||||||
Urban Trust Bank | INR 3,000 - 25,000 | 6 - 12 | 80% - 100% | 80% - 100% | Business | Women, Have business | Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Business Training, Other Training, Health / Social Issue 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 | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Livestock Loan | 0% | 25.5% - 25.7% | 25.5% - 25.7% | N/A | ||||||||||
Rural Trust Bank | 0% | 30.4% - 39.3% | 30.4% - 39.3% | N/A | ||||||||||
Student Loan | 0% | 28.3% - 28.6% | 28.3% - 28.6% | N/A | ||||||||||
Urban Trust Bank | 0% | 29.2% - 42.3% | 29.2% - 42.3% | N/A |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Livestock Loan | 12.0% annual, Flat | 1 Fee | 0 Ins | None | N/A | 25.5% - 25.7% | 25.5% - 25.7% | 47 | ||||||||
Rural Trust Bank | 12.0%-15.0% annual, Flat | 1 Fee | 1 Ins | None | N/A | 30.4% - 39.3% | 30.4% - 39.3% | 34 | ||||||||
Student Loan | 15.0% annual, Flat | 1 Fee | 0 Ins | None | N/A | 28.3% - 28.6% | 28.3% - 28.6% | 52 | ||||||||
Urban Trust Bank | 12.0%-15.5% annual, Flat | 1 Fee | 1 Ins | None | N/A | 29.2% - 42.3% | 29.2% - 42.3% | 33 |
Outstanding portfolio (COP) | COP 463,669,627 |
Portfolio (USD) | USD 254,763.53 |
Active Clients with Loans | 192 |
Approximate % Female Clients | 40% - 60% |
Approximate % Urban Clients | 80% - 100% |
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 | Capital de Trabajo |
Other (2) | Compra de Activos |
Credit education | x |
Group meetings | x |
Credit insurance | x |
Workplace visits | x |
Business training | x |
Other training | x |
Other | Ruedas de Negocio |
Other (2) | |
No other services |
Men | x |
Women | x |
Must run a business | x |
Must own a home or land | x |
Must be a salaried worker | |
Must be specific age group | |
Other | Codeudor con Finca Raiz |
Other (2) | Codeudor asalariado o independiente |
# Regions for this institution | N/A |
# Regions for this product | N/A |
Regions Active |
Currency | COP |
Minimum loan size | COP 200,000 |
Maximum loan size | 12,580,000 |
Shortest loan term | 1.0 month |
Longest loan term | 36.0 months |
Approx average | 15.0 months |
Grace period usage | 10% |
Average grace period | 6.0 months |
Daily | |
Weekly | |
Every 2 weeks | |
Every 4 weeks | |
Monthly | x |
Every 2 months | |
Quarterly | |
Every 6 months | |
Every 12 months | |
Single end payment | x |
Irregular payments |
Lowest quoted nominal interest | 2.00% |
Highest quoted nominal interest | 2.00% |
Interest rate period | Monthly |
Interest Rate Calculation Method | Decl Bal |
Subsidized by funder request? | Yes |
Is rate fixed for entire loan term | Yes |
Fee 1 | Fee 2 | ||
---|---|---|---|
Description | COMISION DE MICROCREDITO LEY 590 DEL 2000 | CIFIN | |
% of loan amount - min | 4.50% | 0 | |
% of loan amount - max | 7.50% | 0 | |
OR, Fixed amount - min | 0 | 5,000 | |
Fixed amount - max | 0 | 5,000 | |
Reason for variation | N/A | ||
Appears on Repayment Sched? | Yes | Yes |
Ins 1 | |
---|---|
Description | Seguro |
% of loan amount - min | 6.00% |
% of loan amount - max | 6.00% |
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? | No |
Sample 1 | Sample 2 | Sample 3 | |||
---|---|---|---|---|---|
Loan Amount | COP 1,000,000 | COP 3,300,000 | COP 4,500,000 | ||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
Disbursement Date | 2011-03-11 | 2011-02-11 | 2011-03-11 | ||
Loan Term (Months) | 12.0 months | 15.0 months | 24.0 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 | 40.3% | 32.2% | 30.5% | ||
Insurance Component | 0.8% | 0.7% | 0.7% | ||
Tax Component | 0.0% | 0.0% | 0.0% | ||
Deposit Component | 0.0% | 0.0% | 0.0% | ||
Full APR (int fee ins tax dep) | 41.0% | 32.9% | 31.2% | ||
Transparency Index | 59 | 73 | 77 | ||
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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