| Number borrowers | 924,623 |
| Loan Amount (range) | INR 2,000 - 14,000 |
| Loan Term (range) | 11.5 |
| Other Services (text summary) | Group Mtgs, Credit Ins, Other Training |
| 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 |
| 8,244 |
| KES 20,000 - 300,000 |
| 3 - 18 |
| Credit Educ, Group Mtgs, Credit Ins, Business Training, Other Training |
| 22.0% annual, Flat |
| 2.00% upfront |
| 1.50% upfront |
| None |
| 10.0%-25.0% upfront |
| 13.7% - 40.7% |
| 0 - 10.7% |
| 0 - 9.3% |
| 0 |
| 66.5% - 80.6% |
| 14 - 61 |
| 30 |
| Outstanding portfolio (INR) | INR 4,644,424,067 |
| Portfolio (USD) | USD 87,630,642.77 |
| Active Clients with Loans | 924,623 |
| 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 | |
| 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 (KES) | KES 217,019,336 |
| Portfolio (USD) | USD 2,621,006.47 |
| Active Clients with Loans | 8,244 |
| Approximate % Female Clients | 40% - 60% |
| Approximate % Urban Clients | 40% - 60% |
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| 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 | |
| Business training | x |
| Other training | x |
| Other | |
| Other (2) | |
| No other services |
| Men | x |
| 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 | 4 |
| # Regions for this product | 4 |
| Regions Active | Central, Eastern, Nairobi, Rift Valley |
| 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 | KES |
| Minimum loan size | KES 20,000 |
| Maximum loan size | 300,000 |
| Loans less than KES 50,000 | 60% |
| KES 50,000-150,000 | 20% |
| KES 150,000-250,000 | 5% |
| KES 250,000-350,000 | 15% |
| KES 350,000-450,000 | 0 |
| Greater than KES 450,000 | 0 |
| Shortest loan term | 3.0 months |
| Longest loan term | 18.0 months |
| Approx average | 12.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 20% |
| Between 7 and 9 months | 30% |
| Between 10 and 12 months | 30% |
| Between 13 and 18 months | 20% |
| Longer than 18 months | 0 |
| Grace period usage | 10% |
| Average grace period | 0.3 months |
| Daily | |
| Weekly | x |
| Every 2 weeks | x |
| Every 4 weeks | |
| Monthly | x |
| 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 | 22.00% |
| Highest quoted nominal interest | 22.00% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | Application 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? | Yes |
| Ins 1 | |
|---|---|
| Description | Insurance 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 | N/A |
| Appears on Repayment Sched? | Yes |
| Required for | All |
| Criteria | First cycle loans = 10% upfront, 100 KES continuing. Multiple cycle loans = 25% upfront, no continuing requirement. |
| Is deposit indicated on the repayment schedule? | Yes |
| Do borrowers control deposit in their group? | Yes |
| % loan amount deposited | 10.00% - 25.00% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | 0 - KES 100 |
| Conditions on access to deposit | End Term |
| Minimum interest rate paid | 0.33% |
| Maximum interest rate paid | 0.50% |
| Interest payment frequency | Annually |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | INR 2,000 | INR 12,000 | INR 10,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2012-12-26 | 2012-12-05 | 2012-12-28 | ||
| 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 280 | INR 1,680 | INR 1,400 | ||
| 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 | Sample 5 | |||||
|---|---|---|---|---|---|---|---|---|---|
| Loan Amount | KES 20,000 | KES 50,000 | KES 140,000 | KES 200,000 | KES 300,000 | ||||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | ||||
| Disbursement Date | 2013-06-28 | 2013-06-27 | 2013-06-12 | 2013-06-11 | 2013-06-27 | ||||
| Loan Term (Months) | 6.0 months | 10.0 months | 12.0 months | 18.0 months | 24.0 months | ||||
| Grace Period (Months) | 0.5 months | 0.4 months | 0.5 months | 0.5 months | 0.5 months | ||||
| Total Cost of Credit | KES 2,900 | KES 10,550 | KES 35,700 | KES 73,000 | KES 142,500 | ||||
| True Price by Comp | |||||||||
| Interest price component | 36.7% | 38.7% | 38.8% | 38.9% | 38.5% | ||||
| Fee Component | 7.3% | 4.9% | 4.1% | 2.9% | 2.3% | ||||
| Insurance Component | 5.5% | 3.8% | 3.1% | 2.2% | 1.7% | ||||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||||
| Deposit Component | 17.0% | 33.2% | 31.2% | 27.8% | 25.1% | ||||
| Full APR (int fee ins tax dep) | 66.5% | 80.6% | 77.2% | 71.8% | 67.6% | ||||
| Transparency Index | 33 | 27 | 28 | 31 | 33 | ||||
| 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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