2. Janalakshmi
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
  2. Zigama CSS
Please note that the information you are viewing is 158 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Janalakshmi Financial Services (P) Ltd. Rajashree Saroja Plaza, 34/1, Andree Road,ShanthinagarBangalore, Karnataka560027
Data approved: 2013-05-03
Data version: 2
Age of data: 136 months
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Institution

Zigama Credit and Savings Society Head OfficeKigali, GasaboPO Box BP4772
Data approved: 2011-09-16
Data version: 1
Age of data: 158 months

Product

Small Group Loan Product 2 of 2 « Prev | Next »

Product

Short Term Loan Product 2 of 2 « Prev | Next »

Product Summary

Number borrowers505,914
Loan Amount (range)INR 5,000 - 50,000
Loan Term (range)12 - 24
Other Services (text summary)Credit Educ, Group Mtgs, Credit Ins
Annual Interest & Method26.0% annual, Decl Bal
Fees1.00% upfront
Insurance0.33% upfront
Tax12.36% fees
Comp DepN/A
Range of pricing 
Interest Price Component27.5% - 29.6%
Fee Component1.0% - 5.9%
Insurance Component0 - 1.7%
Tax Component Range0.1% - 0.7%
Full APR (int fee ins tax dep)30.4% - 33.4%
Transparency Index (min/max)57 - 86
Transparency Index (average)83

Product Summary

38,500
RWF 100,000 - 5,000,000
3 - 36
Credit Educ
15.00% annual, Decl Bal
2 fees
None
None
30.00% upfront
 
N/A
14.2% - 39.9% (Int+Fee)
0
0
24.7% - 57.5%
26 - 83
41

Product Details

Key Statistics
Outstanding portfolio (INR)INR 6,309,129,714
Portfolio (USD)USD 119,040,183.30
Active Clients with Loans505,914
Approximate % Female Clients100%
Approximate % Urban Clients100%
Methodology
Individual
Solidarity groupx
Village banking
Self help group
Other
Description
Small group loans are provided to a group consisting of members who co-gurarantee each other. The loans can be used for a range of purposes including repayment of existing loans, education, micro enterprises, emergency etc.
Loan Purpose
Any purpose
Income generationx
Mortgage/housingx
Consumer loanx
Agriculture
Educationx
Other household financex
Other
Other (2)
Included Services
Credit educationx
Group meetingsx
Credit insurancex
Workplace visits
Business training
Other training
Other
Other (2)
No other services
Eligibility
Men
Womenx
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
Household income <120,000 INR
Must live in rural area
Must lives in urban area
OtherGroup members must live within each other's vicinity.
Other (2)Must demonstrate capacity to repay.
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution9
# Regions for this product9
Regions ActiveGujarat, Haryana, Karnataka, Madhya Pradesh, MaharashtraPunjab, Tamil Nadu, Uttar Pradesh, National Capital Territory of Delhi

Product Details

Key Statistics
Outstanding portfolio (RWF)RWF 28,000,000,000
Portfolio (USD)USD 43,750,000
Active Clients with Loans38,500
Approximate % Female Clients0% - 20%
Approximate % Urban Clients0% - 20%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
Loan term is between 1 and 36 months, priced at 15% interest rate per annum, easy access - loan obtained in 10-15 minutes, purpose is usually consumption, school fees, medical bills, marriage, etc.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loanx
Agriculture
Educationx
Other household financex
OtherMedicals bills, Insurance
Other (2)Marriage
Included Services
Credit educationx
Group meetings
Credit insurance
Workplace visits
Business training
Other training
Other
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a business
Must own a home or land
Must be a salaried worker
Must be specific age group
OtherOnly members - soldiers, police officers, veterans
Other (2)Spouses and widows of these groups
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution11
# Regions for this product13
Regions ActiveBugesera, Gasabo, Gicumbi, Huye, Karongi, Kicukiro, Muhanga, Musanze, Ngoma, Nyagatare, Nyarugenge, Rubavu, Rwamagana

Loan Conditions

Loan Amount
CurrencyINR
Minimum loan sizeINR 5,000
Maximum loan size50,000
Distribution at Disbursement (Est.)
Loans less than INR 5,0000
INR 5,000-15,00070%
INR 15,000-25,00020%
INR 25,000-35,00010%
INR 35,000-45,0000
Greater than INR 45,0000
Loan Term and Grace Period
Shortest loan term12.0 months
Longest loan term24.0 months
Approx average15.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months0
Between 7 and 9 months0
Between 10 and 12 months70%
Between 13 and 18 months0
Longer than 18 months30%
Grace Period
Grace period usage70%
Average grace period1.0 month
Repayment Frequency
Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Loan Conditions

Loan Amount
CurrencyRWF
Minimum loan sizeRWF 100,000
Maximum loan size5,000,000
Distribution at Disbursement (Est.)
Loans less than RWF 500,00020%
RWF 500,000-1,500,00020%
RWF 1,500,000-2,500,00020%
RWF 2,500,000-3,500,00020%
RWF 3,500,000-4,500,00010%
Greater than RWF 4,500,00010%
Loan Term and Grace Period
Shortest loan term3.0 months
Longest loan term36.0 months
Approx average24.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months15%
Between 7 and 9 months15%
Between 10 and 12 months15%
Between 13 and 18 months15%
Longer than 18 months40%
Grace Period
Grace period usage0
Average grace period0
Repayment Frequency
Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest
Lowest quoted nominal interest26.00%
Highest quoted nominal interest26.00%
Reason(s) why interest rate variesTime as Client
Interest rate periodYearly
Interest Rate Calculation MethodDecl Bal
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionProcessing Fee
% of loan amount - min1.00%
% of loan amount - max1.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?Yes
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionInsurance premium
% of loan amount - min0.33%
% of loan amount - max0.33%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationPremium is 0.325% of loan amount. If cover is for both borrower & co-borrower for 24 months, the total will be 0.325% of loan amount times 4.
Appears on Repayment Sched?Yes
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forNever
CriteriaN/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 depositedN/A
or, Fixed-amount depositedN/A
Deposits DURING period payments
% loan amount depositedN/A
or, Fixed-amount depositedN/A
Conditions on access to depositN/A
Interest Paid on Deposit
Minimum interest rate paidN/A
Maximum interest rate paidN/A
Interest payment frequencyN/A
Taxes
Are taxes charged on this product?Yes
Percentage of fees12.4%
All or some fees taxedSome

Pricing Information

Interest
Lowest quoted nominal interest15.00%
Highest quoted nominal interest15.00%
Interest rate periodYearly
Interest Rate Calculation MethodDecl Bal
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1Fee 2
DescriptionCommissionLoan Analysis
% of loan amount - min1.00%0
% of loan amount - max1.00%0
OR, Fixed amount - min02,000
Fixed amount - max02,000
Reason for variationN/AN/A
Appears on Repayment Sched?NoNo
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
This product has no upfront insurance fees
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forSome
CriteriaSecurity deposit required is a factor of other collateral available & earning capacity over time. At least 30% of loan amount required as savings if no other collateral.
Is deposit indicated on the repayment schedule?No
Do borrowers control deposit in their group?No
Deposit BEFORE or AT Disbursement
% loan amount deposited30.00%
or, Fixed-amount deposited0
Deposits DURING period payments
% loan amount deposited0
or, Fixed-amount deposited0
Conditions on access to depositWhen Leaving
Interest Paid on Deposit
Minimum interest rate paid6.00%
Maximum interest rate paid6.00%
Interest payment frequencyAnnually
Taxes
Are taxes charged on this product?No
Additional Comments
Savings during the loan term is 7% of monthly salary amount, regardless of whether member has a loan or not. All first payments made the last day of the month, between then and disbursement date borrower pays interest.

Full Pricing Data

Small Group Loan samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountINR 15,000INR 20,000INR 25,000INR 30,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot Known
Disbursement Date2013-04-012013-04-042013-04-012013-04-01
Loan Term (Months)12.0 months24.0 months24.0 months24.0 months
Grace Period (Months)0.0 months-0.1 months0.0 months0.0 months
Total Cost of CreditINR 2,908.54INR 6,974.72INR 8,795.90INR 10,552
True Price by Comp       
Interest price component29.6%27.9%27.9%27.9%
Fee Component1.9%1.1%1.0%1.0%
Insurance Component1.7%1.4%1.4%1.4%
Tax Component0.2%0.1%0.1%0.1%
Deposit Component0.0%0.0%0.0%0.0%
Full APR (int fee ins tax dep)33.4%30.5%30.4%30.4%
MFIN MFI Earning (Annualised)31.5%29.0%28.9%28.9%
MFIN Cost to Borrower (Annualised)33.4%30.5%30.4%30.4%
Transparency Index78858686
MFIN Transparency Index88939393
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF
* The APR stated here is an MFTransparency term, definition and formula

Full Pricing Data

Short Term Loan samples
Sample 1Sample 2Sample 3Sample 4Sample 5Sample 6
Loan AmountRWF 100,000RWF 300,000RWF 600,000RWF 1,200,000RWF 2,000,000RWF 3,065,549
Loan Cycle (1, 2, 3, etc)000000
Disbursement Date2011-03-222011-03-222011-03-222011-03-222011-03-222011-03-02
Loan Term (Months)25.0 months2.0 months31.0 months61.0 months25.0 months85.0 months
Grace Period (Months)0.0 months0.0 months0.0 months0.0 months0.0 months0.0 months
Total Cost of CreditNot KnownNot KnownNot KnownNot KnownNot KnownNot Known
True Price by Comp           
Interest and Fee Component19.0%39.9%16.9%15.9%17.0%14.2%
Insurance Component0.0%0.0%0.0%0.0%0.0%0.0%
Tax Component0.0%0.0%0.0%0.0%0.0%0.0%
Deposit Component19.2%17.6%16.3%12.8%17.0%10.5%
Full APR (int fee ins tax dep)38.1%57.5%33.2%28.8%34.0%24.7%
Transparency Index392645524461
            
Original Repayment SchedulePDFPDFPDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDFPDFPDF
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Key Statistics
# Samples:
# Products
# Institutions
# Countries
# Borrowers
Loan Portfolio (USD)
% Products using declining balance
% Products with one or more fee
% Products with one or more insurances
% Products with compulsory deposits
Filter table:
Country InstAbbrev SampleCode Loan Amount USD Loan Term (Months) SampClients FullAPR DateApproved
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