2. Sonata Finance
Please note that the information you are viewing is 142 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE
  2. LTMPC
Please note that the information you are viewing is 160 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Sonata Finance Private Limited 125B/6B Pt. Madan Mohan Malviya RoadGorge TownAllahabad, Uttar PradeshPO Box 211002
Data approved: 2013-01-09
Data version: 3
Age of data: 142 months
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Institution

Lorenzo Tan Multi-Purpose Cooperative Lorenzo TanTangub City, Misamis Occidental/Region X7214
Data approved: 2011-11-15
Data version: 1
Age of data: 160 months

Product

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Product

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Product Summary

Number borrowers3,843
Loan Amount (range)INR 20,000 - 50,000
Loan Term (range)12 - 24
Other Services (text summary)Credit Educ, Credit Ins
Annual Interest & Method26.0% annual, Decl Bal
Fees200.00-400.00 upfront
Insurance200.00-400.00 upfront
TaxNone
Comp DepN/A
Range of pricing 
Interest Price Component23.0% - 26.2%
Fee Component0.9% - 4.0%
Insurance Component0 - 2.0%
Tax Component Range0 - 0.5%
Full APR (int fee ins tax dep)27.5% - 28.1%
Transparency Index (min/max)75 - 95
Transparency Index (average)93

Product Summary

20,804
PHP 3,000 - 300,000
1 - 36
Credit Educ, Other Training
36.0% annual, Flat
1.00% upfront
1.00%-2.00% upfront
None
2.0% upfront 500.00 upfront
 
N/A
32.0% - 63.1% (Int+Fee)
0.9% - 20.3%
0
34.3% - 74.5%
18 - 105
63

Product Details

Key Statistics
Outstanding portfolio (INR)INR 82,438,458
Portfolio (USD)USD 1,555,442.60
Active Clients with Loans3,843
Approximate % Female Clients100%
Approximate % Urban Clients0
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
Sonata provide Individual Loan for income generation to our ex-client of IGL who have more than 24 month clientage. Repayment is fortnightly. Sonata also provides penalty free per-settlement facility to its clients.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit educationx
Group meetings
Credit insurancex
Workplace visits
Business training
Other training
Other
Other (2)
No other services
Eligibility
Men
Womenx
Must run a businessx
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 institution2
# Regions for this product2
Regions ActiveMadhya Pradesh, Uttar Pradesh

Product Details

Key Statistics
Outstanding portfolio (PHP)PHP 213,000,000
Portfolio (USD)USD 5,095,693.78
Active Clients with Loans20,804
Approximate % Female Clients60% - 80%
Approximate % Urban Clients40% - 60%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
Loan that can be accessed by LTMPC members for any purpose or use. This includes salary loans
Loan Purpose
Any purposex
Income generation
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit educationx
Group meetings
Credit insurance
Workplace visits
Business training
Other trainingx
Other
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a businessx
Must own a home or land
Must be a salaried worker
Must be specific age group
Other
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institutionN/A
# Regions for this productN/A
Regions Active

Loan Conditions

Loan Amount
CurrencyINR
Minimum loan sizeINR 20,000
Maximum loan size50,000
Distribution at Disbursement (Est.)
Loans less than INR 5,0000
INR 5,000-15,0000
INR 15,000-25,00030%
INR 25,000-35,00040%
INR 35,000-45,00020%
Greater than INR 45,00020%
Loan Term and Grace Period
Shortest loan term12.0 months
Longest loan term24.0 months
Approx average18.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months0
Between 7 and 9 months0
Between 10 and 12 months0
Between 13 and 18 months10%
Longer than 18 months90%
Grace Period
Grace period usage0
Average grace period0
Repayment Frequency
Daily
Weekly
Every 2 weeksx
Every 4 weeks
Monthly
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Loan Conditions

Loan Amount
CurrencyPHP
Minimum loan sizePHP 3,000
Maximum loan size300,000
Loan Term and Grace Period
Shortest loan term1.0 month
Longest loan term36.0 months
Approx average6.0 months
Grace Period
Grace period usage0
Average grace period0
Repayment Frequency
Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest
Lowest quoted nominal interest26.00%
Highest quoted nominal interest26.00%
Interest rate periodYearly
Interest Rate Calculation MethodDecl Bal
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionProcessing Fee
% of loan amount - min0
% of loan amount - max0
OR, Fixed amount - min200
Fixed amount - max400
Reason for variationProcessing fee varies with the loan size
Appears on Repayment Sched?Yes
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionInsurance Fee
% of loan amount - min0
% of loan amount - max0
OR, Fixed amount - min200
Fixed amount - max400
Reason for variationInsurance premium amount varies with the loan size
Appears on Repayment Sched?Yes
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forNever
CriteriaN/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 depositedN/A
or, Fixed-amount depositedN/A
Deposits DURING period payments
% loan amount depositedN/A
or, Fixed-amount depositedN/A
Conditions on access to depositN/A
Interest Paid on Deposit
Minimum interest rate paidN/A
Maximum interest rate paidN/A
Interest payment frequencyN/A
Taxes
Are taxes charged on this product?No
Additional Comments
Sonata provide per-settlement facility without any penalties.

Pricing Information

Interest
Lowest quoted nominal interest3.00%
Highest quoted nominal interest3.00%
Interest rate periodMonthly
Interest Rate Calculation MethodFlat
Subsidized by funder request?
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionService Charge
% of loan amount - min1.00%
% of loan amount - max1.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variation
Appears on Repayment Sched?No
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionCredit Insurance
% of loan amount - min1.00%
% of loan amount - max2.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?No
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forAll
CriteriaN/A
Is deposit indicated on the repayment schedule?
Do borrowers control deposit in their group?
Deposit BEFORE or AT Disbursement
% loan amount deposited2.00%
or, Fixed-amount depositedPHP 500
Deposits DURING period payments
% loan amount deposited0
or, Fixed-amount deposited0
Conditions on access to depositAccess During
Interest Paid on Deposit
Minimum interest rate paid5.00%
Maximum interest rate paid5.00%
Interest payment frequencyAnnually
Taxes
Are taxes charged on this product?No

Full Pricing Data

Individual Loan samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountINR 22,380INR 26,100INR 31,700INR 41,020
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot Known
Disbursement Date2013-02-102013-02-042013-02-022013-03-10
Loan Term (Months)24.0 months24.0 months25.0 months24.0 months
Grace Period (Months)-0.1 months0.1 months0.2 months-0.1 months
Total Cost of CreditINR 6,819.98INR 7,989.98INR 9,679.97INR 12,539.96
True Price by Comp       
Interest price component26.1%25.7%25.6%26.0%
Fee Component0.9%0.9%0.9%0.9%
Insurance Component1.0%1.0%0.9%1.0%
Tax Component0.1%0.2%0.1%0.1%
Deposit Component0.0%0.0%0.0%0.0%
Full APR (int fee ins tax dep)28.1%27.8%27.5%28.0%
MFIN MFI Earning (Annualised)27.0%26.6%26.5%26.9%
MFIN Cost to Borrower (Annualised)28.1%27.8%27.5%28.0%
Transparency Index92949493
MFIN Transparency Index100100100100
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF
* The APR stated here is an MFTransparency term, definition and formula

Full Pricing Data

Regular Loan samples
Sample 1Sample 2Sample 3Sample 4Sample 5Sample 6
Loan AmountPHP 3,000PHP 8,000PHP 16,000PHP 35,000PHP 60,000PHP 100,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot KnownNot KnownNot Known
Disbursement Date2011-09-012011-07-272011-07-122011-08-182011-08-232011-04-09
Loan Term (Months)1.0 month12.0 months8.0 months12.0 months30.0 months12.0 months
Grace Period (Months)0.0 months0.0 months0.0 months0.0 months0.0 months0.0 months
Total Cost of CreditNot KnownNot KnownNot KnownNot KnownNot KnownNot Known
True Price by Comp           
Interest and Fee Component36.5%62.9%50.1%63.0%32.0%63.1%
Insurance Component12.8%2.2%3.1%2.2%0.9%2.2%
Tax Component0.0%0.0%0.0%0.0%0.0%0.0%
Deposit Component10.4%9.5%3.7%3.6%1.4%3.2%
Full APR (int fee ins tax dep)59.8%74.5%56.9%68.8%34.3%68.4%
Transparency Index6048635210053
            
Original Repayment SchedulePDFPDFPDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDFPDFPDF
Individual Loan Price Graphs


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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
Filter table:
Country InstAbbrev SampleCode Loan Amount USD Loan Term (Months) SampClients FullAPR DateApproved
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