| Number borrowers | 2,484,407 |
| Loan Amount (range) | INR 2,000 - 14,000 |
| Loan Term (range) | 11.5 |
| Other Services (text summary) | Group Mtgs, Credit Ins, Other Training, Building Leadership and Promoting Members Cooperation. |
| Annual Interest & Method | 24.6% annual, Decl Bal |
| Fees | 0.88% upfront |
| Insurance | 0.50% upfront |
| Tax | 12.36% fees |
| Comp Dep | N/A |
| Range of pricing | |
| Interest Price Component | 24.6% |
| Fee Component | 1.8% |
| Insurance Component | 1.1% |
| Tax Component Range | 0.3% |
| Full APR (int fee ins tax dep) | 27.8% |
| Transparency Index (min/max) | 88 |
| Transparency Index (average) | 88 |
| 245,017 |
| PHP 4,000 - 20,000 |
| 6 |
| Group Mtgs |
| 40.0% annual, Flat |
| 1.50% upfront |
| 196.00-206.00 upfront |
| None |
| 5.0% upfront 40.00 ongoing |
| N/A |
| 85.7% - 93.8% (Int+Fee) |
| 6.3% - 14.5% |
| 0 |
| 107.7% - 135.2% |
| 30 - 37 |
| 33 |
| Outstanding portfolio (INR) | INR 14,172,152,930 |
| Portfolio (USD) | USD 267,399,111.90 |
| Active Clients with Loans | 2,484,407 |
| Approximate % Female Clients | 100% |
| Approximate % Urban Clients | 20% - 40% |
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other | Joint Liability Group |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) |
| Credit education | |
| Group meetings | x |
| Credit insurance | x |
| Workplace visits | |
| Business training | |
| Other training | x |
| Other | Building Leadership and Promoting Members Cooperation. |
| Other (2) | |
| No other services |
| 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 | x |
| Household income <120,000 INR | x |
| Must live in rural area | x |
| Must lives in urban area | x |
| Other | |
| Other (2) |
| # Regions for this institution | 17 |
| # Regions for this product | 17 |
| Regions Active | Andhra Pradesh, Bihar, Chhattisgarh, Gujarat, HaryanaJharkhand, Karnataka, Kerala, Madhya Pradesh, Maharashtra, OrissaPunjab, Rajasthan, Tamil Nadu, Uttar Pradesh, Uttarakhand, West Bengal |
| Outstanding portfolio (PHP) | PHP 631,134,086 |
| Portfolio (USD) | USD 15,098,901.58 |
| Active Clients with Loans | 245,017 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 60% - 80% |
| Individual | |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other | Solidarity group between 30 to 40 individuals. |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) |
| Credit education | |
| Group meetings | x |
| Credit insurance | |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | |
| Other (2) | |
| No other services |
| Men | |
| Women | x |
| Must run a business | x |
| Must own a home or land | |
| 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 | INR |
| Minimum loan size | INR 2,000 |
| Maximum loan size | 14,000 |
| Loans less than INR 5,000 | 0 |
| INR 5,000-15,000 | 100% |
| INR 15,000-25,000 | 0 |
| INR 25,000-35,000 | 0 |
| INR 35,000-45,000 | 0 |
| Greater than INR 45,000 | 0 |
| Shortest loan term | 11.5 months |
| Longest loan term | 11.5 months |
| Approx average | 11.5 months |
| 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 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 | |
| Irregular payments |
| Currency | PHP |
| Minimum loan size | PHP 4,000 |
| Maximum loan size | 20,000 |
| Shortest loan term | 6.0 months |
| Longest loan term | 6.0 months |
| Approx average | 6.0 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 | |
| Irregular payments |
| Lowest quoted nominal interest | 24.55% |
| Highest quoted nominal interest | 24.55% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | Processing Fee |
| % of loan amount - min | 0.88% |
| % of loan amount - max | 0.88% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | Service Tax included. |
| Appears on Repayment Sched? | Yes |
| Ins 1 | |
|---|---|
| Description | Credit Insurance |
| % of loan amount - min | 0.50% |
| % of loan amount - max | 0.50% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | Min is 0.5% for covering member only and max of 1% for covering member and spouse |
| Appears on Repayment Sched? | No |
| Required for | Never |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | N/A |
| Do borrowers control deposit in their group? | N/A |
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| Conditions on access to deposit | N/A |
| Minimum interest rate paid | N/A |
| Maximum interest rate paid | N/A |
| Interest payment frequency | N/A |
| Are taxes charged on this product? | Yes |
| Percentage of fees | 12.4% |
| All or some fees taxed | Some |
| Lowest quoted nominal interest | 3.33% |
| Highest quoted nominal interest | 3.33% |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | Processing Fee |
| % of loan amount - min | 1.50% |
| % of loan amount - max | 1.50% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | |
| Appears on Repayment Sched? | No |
| Ins 1 | |
|---|---|
| Description | Microinsurance |
| % of loan amount - min | 0 |
| % of loan amount - max | 0 |
| OR, Fixed amount - min | 196 |
| Fixed amount - max | 206 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | No |
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | |
| Do borrowers control deposit in their group? | Yes |
| % loan amount deposited | 5.00% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | PHP 40 |
| Conditions on access to deposit | When Leaving |
| Minimum interest rate paid | 2.00% |
| Maximum interest rate paid | 2.00% |
| Interest payment frequency | End Term |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | INR 10,000 | INR 12,000 | INR 12,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2012-12-28 | 2012-12-24 | 2012-12-24 | ||
| Loan Term (Months) | 12.0 months | 12.0 months | 12.0 months | ||
| Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | ||
| Total Cost of Credit | INR 1,400 | INR 1,680 | INR 1,680 | ||
| True Price by Comp | |||||
| Interest price component | 24.6% | 24.6% | 24.6% | ||
| Fee Component | 1.8% | 1.8% | 1.8% | ||
| Insurance Component | 1.1% | 1.1% | 1.1% | ||
| Tax Component | 0.3% | 0.3% | 0.3% | ||
| Deposit Component | 0.0% | 0.0% | 0.0% | ||
| Full APR (int fee ins tax dep) | 27.8% | 27.8% | 27.8% | ||
| MFIN MFI Earning (Annualised) | 26.4% | 26.4% | 26.4% | ||
| MFIN Cost to Borrower (Annualised) | 27.8% | 27.8% | 27.8% | ||
| Transparency Index | 88 | 88 | 88 | ||
| MFIN Transparency Index | 100 | 100 | 100 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| Sample 1 | Sample 2 | Sample 3 | Sample 4 | ||||
|---|---|---|---|---|---|---|---|
| Loan Amount | PHP 7,000 | PHP 7,000 | PHP 13,000 | PHP 16,000 | |||
| Loan Cycle (1, 2, 3, etc) | 6 | Not Known | 6 | 6 | |||
| Disbursement Date | 2011-08-05 | 2011-09-01 | 2011-08-05 | 2011-09-01 | |||
| Loan Term (Months) | 5.6 months | 6.0 months | 6.0 months | 6.0 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 | 85.7% | 93.8% | 85.7% | 93.8% | |||
| Insurance Component | 13.1% | 14.5% | 7.0% | 6.3% | |||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
| Deposit Component | 22.5% | 26.9% | 15.0% | 15.9% | |||
| Full APR (int fee ins tax dep) | 121.3% | 135.2% | 107.7% | 116.0% | |||
| Transparency Index | 33 | 30 | 37 | 34 | |||
| Original Repayment Schedule | |||||||
| MFT Pricing Calculation |
| 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 |
| Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
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