Please note that the information you are viewing is
172 months old and may not represent the prices currently charged.
If you represent this MFI and wish to update your information,
click HERE
Institution
Data approved: 2010-11-15
Data version: 1
Age of data: 172 months
Institution Type | Non-Governmental Organization |
Is this institution regulated? | No |
Website address | N/A |
Year established | 2007 |
Head of Institution | Niranjan Sheelavant |
Regions active | |
# Branches | 6 |
Total Portfolio (nat'l) | INR 48,626,144 |
Total Portfolio (USD) | USD 917,474.42 |
Active clients with loans | 8,267 |
Approximate % female clients | 80% - 100% |
Approximate % urban clients | 60% - 80% |
Network affiliations | |
155 Borrowers
USD 28,828 Portfolio
Active Product
8,112 Borrowers
USD 888,646.42 Portfolio
Active Product
Loan Products » Conditions
Product Name |
|
Loan Size Range |
|
Loan Term (months) |
|
% Female |
|
% Urban |
|
Loan Purpose |
|
Eligibility |
|
Other Services |
Income Generation Loan (IGL) - FNR - IGL |
|
INR 5,000 - 12,000 |
|
16.8 - 18 |
|
80% - 100% |
|
20% - 40% |
|
Business |
|
Women |
|
Credit Educ, Group Mtgs, Credit Ins, Other Training, Financial Literacy Programs, Community Contact Programs |
Income Generation Loan (IGL) |
|
INR 5,000 - 20,000 |
|
11.7 |
|
80% - 100% |
|
60% - 80% |
|
Business |
|
Women |
|
Credit Educ, Group Mtgs, Credit Ins, Financial Literacy Programs, Community Contact Programs |
Loan Products » MFIN India Additional Information
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 |
Income Generation Loan (IGL) - FNR - IGL |
|
0% |
|
31% |
|
34.2% - 37.4% |
|
|
|
|
|
|
|
N/A |
Income Generation Loan (IGL) |
|
0% |
|
33.7% |
|
36.5% - 39.3% |
|
|
|
|
|
|
|
N/A |
Loan Products » Pricing Information
Please note that the information you are viewing is
160 months old and may not represent the prices currently charged.
If you represent this MFI and wish to update your information,
click HERE
Institution
Data approved: 2011-11-15
Data version: 1
Age of data: 160 months
Key Statistics
Outstanding portfolio (PHP) | PHP 11,778,115 |
Portfolio (USD) | USD 281,773.09 |
Active Clients with Loans | 1,361 |
Approximate % Female Clients | 80% - 100% |
Approximate % Urban Clients | 60% - 80% |
Methodology
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other | |
Description
Loan extended to client to finance their microenterprise activities
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 | x |
Business training | x |
Other training | |
Other | Market linkages |
Other (2) | |
No other services | |
Eligibility
Men | x |
Women | x |
Must run a business | x |
Must own a home or land | |
Must be a salaried worker | |
Must be specific age group | |
Other | Must have max net income of 10,000 per family f 5 |
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 | PHP |
Minimum loan size | PHP 2,000 |
Maximum loan size | 150,000 |
Loan Term and Grace Period
Shortest loan term | 4.7 months |
Longest loan term | 12.0 months |
Approx average | 4.7 months |
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 | 2.50% |
Highest quoted nominal interest | 2.50% |
Interest rate period | Monthly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | |
Is rate fixed for entire loan term | Yes |
Upfront Fees
This product has no upfront feesOngoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 |
---|
Description | Credit Insurance |
% 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? | No |
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required for | All |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | |
Do borrowers control deposit in their group? | |
Deposit BEFORE or AT Disbursement
% loan amount deposited | 20.00% |
or, Fixed-amount deposited | 0 |
Deposits DURING period payments
% loan amount deposited | 0 |
or, Fixed-amount deposited | PHP 50 |
Conditions on access to deposit | Access During |
Interest Paid on Deposit
Minimum interest rate paid | 7.00% |
Maximum interest rate paid | 7.00% |
Interest payment frequency | Annually |
Taxes
Are taxes charged on this product? | No |
Additional Comments
For savings, clients are allowed two (2) withdrawals per month as long as 2% of loan amount is maintained (for loans greater than 15, 3% of loan amount). For 1st loan cycle, savings of P15 is required.
Full Pricing Data
Microloan samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 | | Sample 5 | | Sample 6 |
---|
Loan Amount | PHP 3,000 | | PHP 7,000 | | PHP 15,000 | | PHP 30,000 | | PHP 50,000 | | PHP 75,000 |
Loan Cycle (1, 2, 3, etc) | 7 | | 5 | | 5 | | 12 | | 10 | | 23 |
Disbursement Date | 2011-04-08 | | 2010-10-08 | | 2011-03-31 | | 2010-12-16 | | 2010-12-16 | | 2011-01-21 |
Loan Term (Months) | 4.7 months | | 4.7 months | | 4.7 months | | 4.7 months | | 4.7 months | | 4.7 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 | 61.2% | | 64.2% | | 61.0% | | 50.9% | | 51.4% | | 62.3% |
Insurance Component | 5.4% | | 5.6% | | 5.4% | | 4.4% | | 4.5% | | 5.5% |
Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% |
Deposit Component | 32.8% | | 36.2% | | 33.0% | | 46.1% | | 47.5% | | 68.5% |
Full APR (int fee ins tax dep) | 99.4% | | 106.0% | | 99.4% | | 101.4% | | 103.4% | | 136.3% |
Transparency Index | 30 | | 28 | | 30 | | 30 | | 29 | | 22 |
| | | | | | | | | | | |
Original Repayment Schedule | PDF | | PDF | | PDF | | PDF | | PDF | | PDF |
MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF | | PDF | | PDF |