Pragathi MAC Credit & Marketing Federation Ltd. - Education 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

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Product Details

Key Statistics

Outstanding portfolio (INR)	INR 9,246,427
Portfolio (USD)	USD 174,460.89
Active Clients with Loans	1,002
Approximate % Female Clients	60% - 80%
Approximate % Urban Clients	0% - 20%

Methodology

Individual
Solidarity group
Village banking
Self help group	x
Other

Description

Designed for members' schoolchildren.

Loan Purpose

Any purpose
Income generation
Mortgage/housing
Consumer loan
Agriculture
Education	x
Other household finance
Other
Other (2)

Included Services

Credit education
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	x
Must be a salaried worker	x
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 3,000
Maximum loan size	20,000

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 Fee
% 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?	Yes
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 100
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

Education Loan samples

	Sample 1	Sample 2
Loan Amount	INR 10,000	INR 20,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known
Disbursement Date	2010-06-20	2010-07-22
Loan Term (Months)	15.0 months	15.0 months
Grace Period (Months)	0.0 months	0.0 months
Total Cost of Credit	Not Known	Not Known
True Price by Comp
Interest and Fee Component	25.7%	25.6%
Insurance Component	1.7%	1.7%
Tax Component	0.0%	0.0%
Deposit Component	8.9%	6.6%
Full APR (int fee ins tax dep)	36.2%	33.8%
MFIN MFI Earning (Annualised)	25.7%	25.6%
MFIN Cost to Borrower (Annualised)	36.2%	33.8%
Transparency Index	35	37
MFIN Transparency Index	N/A	N/A

Original Repayment Schedule	PDF	PDF
MFT Pricing Calculation	PDF	PDF

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

Education Loan Price Graphs

Click to view Price Analysis Tool

Institution	# Borrowers	Portfolio (US$)	Products	Age of Data
AGFS	200	47,000	2	157
Ahantaman RB	23,800	9,896,000	4	139
APED	13,700	1,876,000	2	139
ASA Initiative	4,400	577,000	4	139
ASA-Ghana	71,600	18,385,000	2	139
ASPI	800	88,000	6	139
Atwima Kwanwoma	3,800	1,788,000	2	139
Baobab	5,100	967,000	2	139
BestFUND	13,000	4,172,000	3	139
Bonzali Rural	10,400	1,691,000	4	157
CashPhase	83	135,000	2	139
CASUD	1,100	524,000	1	139
CEDEF	500	54,000	4	139
CFF	100	13,000	1	139
CRAN	3,600	1,019,000	2	139
DQF	1,700	63,000	2	139
EASL	9,200	11,409,000	6	139
East Mamprusi	12,500	2,268,000	4	139
ELDA	0	0	0	139
EMPRETEC Ghana	200	56,000	2	139
FASL	13,500	14,047,000	8	139
Grameen Ghana	9,500	507,000	3	139
ID-Ghana	5,600	953,000	3	139
Innovative Finance	2,700	354,000	3	139
Kraban Support	7,700	781,000	5	157
KRB	4,000	6,350,000	3	139
Lower Pra RB	34,000	6,316,000	3	157
Maata-N-Tudu	12,000	941,000	4	139
Mail Finance	300	288,000	1	139
Markaz	0	0	0	139
Markaz Al Bishara	100	17,000	1	139
MicrofinPlus Gh	1,100	251,000	2	139
Nwabiagya RB	4,000	2,265,000	3	139
OISL	62,000	27,232,000	9	139
Pro Credit	0	0	0	139
Rich Step	100	101,000	1	139
SAT	147,600	29,359,000	4	139
Sekam Trust	600	137,000	2	139
Simli Pong	8,900	463,000	3	157
SS Ghana	200	35,000	1	139
TCCU	100	32,000	3	139
The Bridge	400	32,000	3	157
Union RB	3,800	2,361,000	4	139

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

	X Axis
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Total Borrrowers of Samples


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By Country

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