Institution Type | Non Bank Financial Institution |
Is this institution regulated? | Yes |
Website address | http://www.janalakshmi.com/ |
Year established | 2006 |
Head of Institution | VS Radhakrishnan |
Regions active | Gujarat, Haryana, Karnataka, Madhya Pradesh, MaharashtraPunjab, Tamil Nadu, Uttar Pradesh, National Capital Territory of Delhi |
# Branches | 66 |
Total Portfolio (nat'l) | INR 6,311,118,034 |
Total Portfolio (USD) | USD 119,077,698.80 |
Active clients with loans | 506,075 |
Approximate % female clients | 80% - 100% |
Approximate % urban clients | 80% - 100% |
Network affiliations | MFIN, AKMI |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Education Loan | INR 5,000 - 20,000 | 12 - 24 | 60% - 80% | 60% - 80% | Education | Women, Men, Must have children who are studying until the age of 24 yrs. | Credit Educ | |||||||
Small Group Loan | INR 5,000 - 50,000 | 12 - 24 | 100% | 100% | Business, Housing, Consumer, Education, Other | Women, Group members must live within each other's vicinity., Must demonstrate capacity to repay. | 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 | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Education Loan | 27.5% - 28% | 33% - 33.9% | 40.4% - 41.8% | NA | NA | NA | 86 | |||||||
Small Group Loan | 27.9% - 29.6% | 28.9% - 31.5% | 30.4% - 33.4% | Yes | Yes | Yes | 92 |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Education Loan | 24.0% annual, Decl Bal | 2 Fees | 0 Ins | 12.36% fees | 10.0% upfront | 33% - 33.9% | 40.4% - 41.8% | 58 | ||||||||
Small Group Loan | 26.0% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 28.9% - 31.5% | 30.4% - 33.4% | 83 |
Outstanding portfolio (USD) | USD 12,223,241.28 |
Portfolio (USD) | USD 12,223,241.28 |
Active Clients with Loans | 2,724 |
Approximate % Female Clients | 40% - 60% |
Approximate % Urban Clients | 40% - 60% |
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other |
Any purpose | x |
Income generation | |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | |
Other (2) |
Credit education | |
Group meetings | |
Credit insurance | x |
Workplace visits | |
Business training | |
Other training | |
Other | |
Other (2) | |
No other services |
Men | x |
Women | x |
Must run a business | |
Must own a home or land | |
Must be a salaried worker | x |
Must be specific age group | |
Other | |
Other (2) |
# Regions for this institution | N/A |
# Regions for this product | N/A |
Regions Active |
Currency | USD |
Minimum loan size | USD 100 |
Maximum loan size | 20,000 |
Shortest loan term | 3.0 months |
Longest loan term | 84.0 months |
Approx average | 30.0 months |
Grace period usage | 0 |
Average grace period | 0 |
Daily | |
Weekly | |
Every 2 weeks | |
Every 4 weeks | |
Monthly | x |
Every 2 months | |
Quarterly | x |
Every 6 months | |
Every 12 months | |
Single end payment | |
Irregular payments |
Lowest quoted nominal interest | 12.90% |
Highest quoted nominal interest | 12.90% |
Interest rate period | Yearly |
Interest Rate Calculation Method | Decl Bal |
Subsidized by funder request? | |
Is rate fixed for entire loan term | Yes |
Fee 1 | |
---|---|
Description | Seguro de Desgravamen |
% of loan amount - min | 3.00% |
% of loan amount - max | 3.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | Yes |
Required for | All |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | Yes |
Do borrowers control deposit in their group? |
% loan amount deposited | 0 |
or, Fixed-amount deposited | 0 |
% loan amount deposited | 1.00% |
or, Fixed-amount deposited | USD 2 |
Conditions on access to deposit | End Term |
Minimum interest rate paid | 3.00% |
Maximum interest rate paid | 3.00% |
Interest payment frequency | Monthly |
Are taxes charged on this product? | No |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | Sample 6 | ||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Loan Amount | USD 300 | USD 1,000 | USD 2,000 | USD 4,000 | USD 8,000 | USD 11,000 | |||||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | Not Known | |||||
Disbursement Date | 2010-06-01 | 2010-06-01 | 2010-05-17 | 2010-06-04 | 2010-05-21 | 2010-06-01 | |||||
Loan Term (Months) | 4.0 months | 12.0 months | 24.0 months | 24.0 months | 18.0 months | 48.0 months | |||||
Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | 0.0 months | 0.0 months | 0.0 months | |||||
Total Cost of Credit | Not Known | Not Known | Not Known | Not Known | Not Known | Not Known | |||||
True Price by Comp | |||||||||||
Interest and Fee Component | 13.1% | 13.1% | 13.1% | 13.1% | 13.1% | 13.1% | |||||
Insurance Component | 0.4% | 0.4% | 0.4% | 0.4% | 0.4% | 0.4% | |||||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
Deposit Component | 0.2% | 0.3% | 0.3% | 0.2% | 0.1% | 0.1% | |||||
Full APR (int fee ins tax dep) | 13.7% | 13.8% | 13.8% | 13.7% | 13.6% | 13.6% | |||||
Transparency Index | 94 | 94 | 94 | 94 | 95 | 95 | |||||
Original Repayment Schedule | |||||||||||
MFT Pricing Calculation |
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% Products with one or more insurances | |
% Products with compulsory deposits |
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