Pragathi MAC Credit & Marketing Federation Ltd. - Agriculture and Allied Business Loan - MFTransparency.org Truth In Lending Tables

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Institution

Pragathi MAC Credit & Marketing Federation Ltd. #2-6-45/2, Sri Shanthi Nagar Colony, Road No. 2Circuit House Road, HanamkondaWarangal, Andhra Pradesh506001

Data approved: 2010-11-15

Data version: 1

Age of data: 171 months

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Product

Agriculture and Allied Business Loan Product 1 of 6 « Prev | Next »

Product Details

Key Statistics

Outstanding portfolio (INR)	INR 27,739,282
Portfolio (USD)	USD 523,382.68
Active Clients with Loans	3,005
Approximate % Female Clients	80% - 100%
Approximate % Urban Clients	0% - 20%

Methodology

Individual
Solidarity group
Village banking
Self help group	x
Other

Description

Agriculture inputs and allied activities like purchase of land and water pumps.

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	x
Other
Other (2)
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)

# Borrowers by Product

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	50,000

Loan Term and Grace Period

Shortest loan term	12.0 months
Longest loan term	20.0 months
Approx average	15.0 months

Grace Period

Grace period usage	0
Average grace period	0

Repayment Frequency

Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthly	x
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest

Lowest quoted nominal interest	12.50%
Highest quoted nominal interest	12.50%
Interest rate period	Yearly
Interest Rate Calculation Method	Flat
Subsidized by funder request?
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 fees

Upfront Insurance Fees

	Ins 1
Description	Insurance Charges
% 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	10.00%
or, Fixed-amount deposited	0

Deposits DURING period payments

% loan amount deposited	0
or, Fixed-amount deposited	INR 50
Conditions on access to deposit	When Leaving

Interest Paid on Deposit

Minimum interest rate paid	6.00%
Maximum interest rate paid	6.00%
Interest payment frequency	Annually

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Additional Comments

N/A

Full Pricing Data

Agriculture and Allied Business Loan samples

	Sample 1	Sample 2	Sample 3	Sample 4	Sample 5
Loan Amount	INR 5,000	INR 10,000	INR 15,000	INR 20,000	INR 25,000
Loan Cycle (1, 2, 3, etc)	1	1	2	2	2
Disbursement Date	2010-06-15	2010-06-21	2010-06-21	2010-06-15	2010-06-20
Loan Term (Months)	15.0 months	15.0 months	15.0 months	15.0 months	15.0 months
Grace Period (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
True Price by Comp
Interest and Fee Component	25.6%	25.6%	25.6%	25.6%	25.6%
Insurance Component	1.7%	1.7%	1.7%	1.7%	1.7%
Tax Component	0.0%	0.0%	0.0%	0.0%	0.0%
Deposit Component	8.8%	6.6%	6.0%	5.6%	5.4%
Full APR (int fee ins tax dep)	36.1%	33.9%	33.3%	32.9%	32.7%
MFIN MFI Earning (Annualised)	25.6%	25.6%	25.6%	25.6%	25.6%
MFIN Cost to Borrower (Annualised)	36.1%	33.9%	33.3%	32.9%	32.7%
Transparency Index	35	37	38	38	38
MFIN Transparency Index	N/A	N/A	N/A	N/A	N/A

Original Repayment Schedule	PDF	PDF	PDF	PDF	PDF
MFT Pricing Calculation	PDF	PDF	PDF	PDF	PDF

* The APR stated here is an MFTransparency term, definition and formula

Agriculture and Allied Business Loan Price Graphs

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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

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