Saadhana Microfin Society - Micro Enterprise Development Loan - MFTransparency.org Truth In Lending Tables

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Institution

Saadhana Microfin Society # 50-760A-116, 02nd Floor,Gayatri EstatesKurnool, Andhra Pradesh518002

Data approved: 2010-11-15

Data version: 1

Age of data: 172 months

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Product

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Product Details

Key Statistics

Outstanding portfolio (INR)	INR 27,471,300
Portfolio (USD)	USD 518,326.42
Active Clients with Loans	1,491
Approximate % Female Clients	80% - 100%
Approximate % Urban Clients	80% - 100%

Methodology

Individual
Solidarity group	x
Village banking
Self help group
Other	A fast track model - drawn upon the positive features of 'Grameen' and 'SHG' methodology.\r

Description

‘Micro-Enterprise Development Loan' is offered to clients from 03rd Cycle @12.50% rate of interest repayable in 50 weeks. This loan is meant for expanding the existing business. Loan size ranges from 25,000 to 50,000 depends upon the project.

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
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 25,000
Maximum loan size	50,000

Loan Term and Grace Period

Shortest loan term	12.0 months
Longest loan term	12.0 months
Approx average	0

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	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	1.00%
% of loan amount - max	2.00%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	N/A
Appears on Repayment Sched?	Yes

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

	Ins 1
Description	Documentation Charges + Insurance (Saadhana Social Security Scheme)
% of loan amount - min	0
% of loan amount - max	0
OR, Fixed amount - min	145
Fixed amount - max	145
Reason for variation	N/A
Appears on Repayment Sched?	Yes

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

Are taxes charged on this product?

Full Pricing Data

Micro Enterprise Development Loan samples

	Sample 1	Sample 2	Sample 3	Sample 4
Loan Amount	INR 30,000	INR 30,000	INR 40,000	INR 40,000
Loan Cycle (1, 2, 3, etc)	6	6	7	7
Disbursement Date	2010-05-31	2010-05-31	2010-06-01	2010-06-01
Loan Term (Months)	11.7 months	11.7 months	11.7 months	11.7 months
Grace Period (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
True Price by Comp
Interest and Fee Component	27.8%	27.8%	27.6%	27.6%
Insurance Component	0.0%	0.0%	0.0%	0.0%
Tax Component	0.0%	0.0%	0.0%	0.0%
Deposit Component	0.0%	0.0%	0.0%	0.0%
Full APR (int fee ins tax dep)	27.8%	27.8%	27.6%	27.6%
MFIN MFI Earning (Annualised)	27.8%	27.8%	27.6%	27.6%
MFIN Cost to Borrower (Annualised)	27.8%	27.8%	27.6%	27.6%
Transparency Index	45	45	45	45
MFIN Transparency Index	N/A	N/A	N/A	N/A

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

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

Micro Enterprise Development Loan Price Graphs

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Key Statistics
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