| Institution Type | Non Bank Financial Institution |
| Is this institution regulated? | Yes |
| Website address | http://www.saija.in/ |
| Year established | 2007 |
| Head of Institution | S. R. Sinha |
| Regions active | Bihar |
| # Branches | 7 |
| Total Portfolio (nat'l) | INR 248,186,765.50 |
| Total Portfolio (USD) | USD 4,682,769.16 |
| Active clients with loans | 24,779 |
| Approximate % female clients | 80% - 100% |
| Approximate % urban clients | 80% - 100% |
| Network affiliations |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Saija Karobar Rin - Business JLG | INR 5,000 - 50,000 | 11.5 - 24 | 0% - 20% | 80% - 100% | Business | Women, Men, Have business, Specific age group, Low HH Inc, Med HH Inc, Rural HH, Urban HH | Credit Ins | |||||||
| Saija Mahila Rin - Household JLG | INR 5,000 - 50,000 | 11.5 - 24 | 80% - 100% | 100% | Business | Women, Specific age group, Low HH Inc, Med HH Inc, Rural HH, Urban HH | Group Mtgs, Credit Ins |
| 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Saija Karobar Rin - Business JLG | 25.9% - 26.3% | 26.8% - 28% | 27.5% - 28.8% | Yes | Yes | Yes | 100 | |||||||
| Saija Mahila Rin - Household JLG | 25.9% - 26% | 26.8% - 28% | 27.4% - 29.5% | Yes | Yes | Yes | 100 |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Saija Karobar Rin - Business JLG | 26.0% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 26.8% - 28% | 27.5% - 28.8% | 92 | ||||||||
| Saija Mahila Rin - Household JLG | 26.0% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 26.8% - 28% | 27.4% - 29.5% | 92 |
| Outstanding portfolio (PHP) | PHP 13,000,000 |
| Portfolio (USD) | USD 311,004.78 |
| Active Clients with Loans | 967 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 0% - 20% |
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | x |
| Other |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | x |
| Education | |
| Other household finance | |
| Other | |
| Other (2) |
| Credit education | x |
| Group meetings | x |
| Credit insurance | x |
| Workplace visits | x |
| Business training | x |
| Other training | |
| Other | |
| Other (2) | |
| No other services |
| Men | x |
| Women | x |
| Must run a business | x |
| Must own a home or land | x |
| Must be a salaried worker | |
| Must be specific age group | |
| Other | |
| Other (2) |
| # Regions for this institution | N/A |
| # Regions for this product | N/A |
| Regions Active |
| Currency | PHP |
| Minimum loan size | PHP 20,000 |
| Maximum loan size | 60,000 |
| Shortest loan term | 6.0 months |
| Longest loan term | 12.0 months |
| Approx average | 9.0 months |
| Grace period usage | 0 |
| Average grace period | 0 |
| Daily | |
| Weekly | x |
| Every 2 weeks | |
| Every 4 weeks | |
| Monthly | |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | x |
| Irregular payments |
| Lowest quoted nominal interest | 20.00% |
| Highest quoted nominal interest | 20.00% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | Fee 2 | ||
|---|---|---|---|
| Description | Service Charge | Notarial Fee | |
| % of loan amount - min | 2.00% | 1.00% | |
| % of loan amount - max | 2.00% | 1.00% | |
| OR, Fixed amount - min | 0 | 0 | |
| Fixed amount - max | 0 | 0 | |
| Reason for variation | N/A | ||
| Appears on Repayment Sched? | No | No |
| Ins 1 | Ins 2 | ||
|---|---|---|---|
| Description | MILAMDEC Tibod Mutual Benefits | Crop Insurance | |
| % of loan amount - min | 0 | 6.00% | |
| % of loan amount - max | 0 | 6.00% | |
| OR, Fixed amount - min | 150 | 0 | |
| Fixed amount - max | 150 | 0 | |
| Reason for variation | N/A | N/A | |
| Appears on Repayment Sched? | No | No |
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | Yes |
| Do borrowers control deposit in their group? | Yes |
| % loan amount deposited | 30.00% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 30.00% |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | When Leaving |
| Minimum interest rate paid | 4.00% |
| Maximum interest rate paid | 4.00% |
| Interest payment frequency | Annually |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | PHP 30,000 | PHP 40,000 | PHP 50,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2011-08-25 | 2011-08-29 | 2011-08-25 | ||
| Loan Term (Months) | 5.0 months | 5.0 months | 5.0 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 | 56.6% | 56.6% | 56.6% | ||
| Insurance Component | 21.2% | 19.9% | 19.8% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 36.2% | 35.3% | 35.3% | ||
| Full APR (int fee ins tax dep) | 113.9% | 111.8% | 111.6% | ||
| Transparency Index | 18 | 18 | 18 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| Key Statistics | |
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| % Products with one or more fee | |
| % Products with one or more insurances | |
| % Products with compulsory deposits |
| Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
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