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Institution
Data approved: 2010-11-15
Data version: 1
Age of data: 171 months
Key Statistics
| Outstanding portfolio (INR) | INR 47,098,260 |
| Portfolio (USD) | USD 888,646.42 |
| Active Clients with Loans | 8,112 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 60% - 80% |
Methodology
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other | |
Description
Presently this the mian product of Nirantara community services. This is given mainly to income generation purpose mainly for starting a new micro-business and/or running their micro-business.
Loan Purpose
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| 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 | Financial Literacy Programs |
| Other (2) | Community Contact Programs |
| No other services | |
Eligibility
| 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 | |
| Household income <120,000 INR | |
| Must live in rural area | |
| Must lives in urban area | |
| Other | |
| Other (2) | |
Portfolio Size by Product
Geographic Coverage
| # Regions for this institution | N/A |
| # Regions for this product | N/A |
| Regions Active | |
Loan Conditions
Loan Amount
| Currency | INR |
| Minimum loan size | INR 5,000 |
| Maximum loan size | 20,000 |
Loan Term and Grace Period
| Shortest loan term | 11.7 months |
| Longest loan term | 11.7 months |
| Approx average | 11.7 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 | 100% |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
Grace Period
| Grace period usage | 0 |
| Average grace period | 0 |
Repayment Frequency
| Daily | |
| Weekly | x |
| Every 2 weeks | |
| Every 4 weeks | |
| Monthly | |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments | |
Pricing Information
Interest
| Lowest quoted nominal interest | 15.00% |
| Highest quoted nominal interest | 15.00% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | Yes |
| Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 |
|---|
| Description | Processing Fee |
| % of loan amount - min | 2.00% |
| % of loan amount - max | 2.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | No |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 |
|---|
| Description | Insurance Fee |
| % of loan amount - min | 0 |
| % of loan amount - max | 0 |
| OR, Fixed amount - min | 150 |
| Fixed amount - max | 250 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | No |
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? | No |
Additional Comments
Insurance fee is (a) Rs. 15 for Loan amount upto Rs. 12. (b) Rs 2 for Loan amount between Rs 13 to Rs 16. (c ) Rs. 25 for Loan amount between Rs. 17 to 2. Insurance cover to member and the spouse both.
Full Pricing Data
Income Generation Loan (IGL) samples
| Sample 1 | | Sample 2 | | Sample 3 |
|---|
| Loan Amount | INR 6,000 | | INR 10,000 | | INR 20,000 |
| Loan Cycle (1, 2, 3, etc) | 1 | | 1 | | 4 |
| Disbursement Date | 2010-07-15 | | 2010-07-15 | | 2010-05-10 |
| Loan Term (Months) | 11.7 months | | 11.7 months | | 11.7 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 | 33.7% | | 33.7% | | 33.7% |
| Insurance Component | 5.6% | | 3.4% | | 2.8% |
| Tax Component | 0.0% | | 0.0% | | 0.0% |
| Deposit Component | 0.0% | | 0.0% | | 0.0% |
| Full APR (int fee ins tax dep) | 39.3% | | 37.1% | | 36.5% |
| MFIN MFI Earning (Annualised) | 33.7% | | 33.7% | | 33.7% |
| MFIN Cost to Borrower (Annualised) | 39.3% | | 37.1% | | 36.5% |
| Transparency Index | 38 | | 40 | | 41 |
| MFIN Transparency Index | N/A | | N/A | | N/A |
| | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF |
* The APR stated here is an MFTransparency term, definition and formula
Income Generation Loan (IGL) Price Graphs
