Please note that the information you are viewing is
136 months old and may not represent the prices currently charged.
If you represent this MFI and wish to update your information,
click HERE
Institution
Data approved: 2013-05-02
Data version: 3
Age of data: 136 months
Institution Type | Non Bank Financial Institution |
Is this institution regulated? | Yes |
Website address | http://www.spandanaindia.com/ |
Year established | 2004 |
Head of Institution | Padmaja Reddy G. |
Regions active | Andhra Pradesh, Chhattisgarh, Goa, GujaratJharkhand, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Orissa |
# Branches | 1221 |
Total Portfolio (nat'l) | INR 27,681,507,970 |
Total Portfolio (USD) | USD 522,292,603.20 |
Active clients with loans | 3,305,413 |
Approximate % female clients | 80% - 100% |
Approximate % urban clients | 0% - 20% |
Network affiliations | Sadhan, Mix Market, MFIN, WWB |
178,199 Borrowers
USD 43,740,584.21 Portfolio
Active Product
355,279 Borrowers
USD 103,500,247.70 Portfolio
Active Product
Loan Products » Conditions
Product Name |
|
Loan Size Range |
|
Loan Term (months) |
|
% Female |
|
% Urban |
|
Loan Purpose |
|
Eligibility |
|
Other Services |
Abhilasha |
|
INR 4,000 - 30,000 |
|
0.6 - 24 |
|
80% - 100% |
|
0% - 20% |
|
Business, Housing, Education, Other |
|
Women, Low HH Inc, Med HH Inc, Economically active. |
|
Credit Educ, Group Mtgs, Other Training, Group Solidarity Training |
Pragathi |
|
INR 15,000 - 50,000 |
|
18 - 24 |
|
80% - 100% |
|
0% - 20% |
|
Business |
|
Women, Self-employed. |
|
Credit Educ, Group Mtgs, Group Solidarity Training |
Loan Products » MFIN India Additional Information
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 |
Abhilasha |
|
24.8% - 26.1% |
|
28.2% - 28.9% |
|
30.7% - 31.5% |
|
Yes |
|
Yes |
|
Yes |
|
100 |
Pragathi |
|
26.1% |
|
28.1% |
|
30.5% |
|
Yes |
|
Yes |
|
Yes |
|
100 |
Loan Products » Pricing Information
Product Name |
|
Annual Nominal Interest |
|
Fees |
|
Insurance |
|
Taxes |
|
Compulsory Deposit |
|
APR (int+fee) |
|
Full APR |
|
Transparency Index |
Abhilasha |
|
24.5%-26.1% annual, Decl Bal |
|
1 Fee |
|
1 Ins |
|
12.36% fees |
|
N/A |
|
28.2% - 28.9% |
|
30.7% - 31.5% |
|
79 |
Pragathi |
|
26.0% annual, Decl Bal |
|
1 Fee |
|
1 Ins |
|
12.36% fees |
|
N/A |
|
28.1% |
|
30.5% |
|
85 |
Please note that the information you are viewing is
158 months old and may not represent the prices currently charged.
If you represent this MFI and wish to update your information,
click HERE
Institution
Data approved: 2011-09-16
Data version: 1
Age of data: 158 months
Key Statistics
Outstanding portfolio (RWF) | RWF 28,000,000,000 |
Portfolio (USD) | USD 43,750,000 |
Active Clients with Loans | 38,500 |
Approximate % Female Clients | 0% - 20% |
Approximate % Urban Clients | 0% - 20% |
Methodology
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other | |
Description
Loan term is between 1 and 36 months, priced at 15% interest rate per annum, easy access - loan obtained in 10-15 minutes, purpose is usually consumption, school fees, medical bills, marriage, etc.
Loan Purpose
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | x |
Agriculture | |
Education | x |
Other household finance | x |
Other | Medicals bills, Insurance |
Other (2) | Marriage |
Included Services
Credit education | x |
Group meetings | |
Credit insurance | |
Workplace visits | |
Business training | |
Other training | |
Other | |
Other (2) | |
No other services | |
Eligibility
Men | x |
Women | x |
Must run a business | |
Must own a home or land | |
Must be a salaried worker | |
Must be specific age group | |
Other | Only members - soldiers, police officers, veterans |
Other (2) | Spouses and widows of these groups |
Portfolio Size by Product
Geographic Coverage
# Regions for this institution | 11 |
# Regions for this product | 13 |
Regions Active | Bugesera, Gasabo, Gicumbi, Huye, Karongi, Kicukiro, Muhanga, Musanze, Ngoma, Nyagatare, Nyarugenge, Rubavu, Rwamagana |
Loan Conditions
Loan Amount
Currency | RWF |
Minimum loan size | RWF 100,000 |
Maximum loan size | 5,000,000 |
Distribution at Disbursement (Est.)
Loans less than RWF 500,000 | 20% |
RWF 500,000-1,500,000 | 20% |
RWF 1,500,000-2,500,000 | 20% |
RWF 2,500,000-3,500,000 | 20% |
RWF 3,500,000-4,500,000 | 10% |
Greater than RWF 4,500,000 | 10% |
Loan Term and Grace Period
Shortest loan term | 3.0 months |
Longest loan term | 36.0 months |
Approx average | 24.0 months |
Distribution at Disbursement (Est.)
Loans 3 months or less | 0 |
Between 4 and 6 months | 15% |
Between 7 and 9 months | 15% |
Between 10 and 12 months | 15% |
Between 13 and 18 months | 15% |
Longer than 18 months | 40% |
Grace Period
Grace period usage | 0 |
Average grace period | 0 |
Repayment Frequency
Daily | |
Weekly | |
Every 2 weeks | |
Every 4 weeks | |
Monthly | x |
Every 2 months | |
Quarterly | |
Every 6 months | |
Every 12 months | |
Single end payment | |
Irregular payments | |
Pricing Information
Interest
Lowest quoted nominal interest | 15.00% |
Highest quoted nominal interest | 15.00% |
Interest rate period | Yearly |
Interest Rate Calculation Method | Decl Bal |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 | | Fee 2 |
---|
Description | Commission | | Loan Analysis |
% of loan amount - min | 1.00% | | 0 |
% of loan amount - max | 1.00% | | 0 |
OR, Fixed amount - min | 0 | | 2,000 |
Fixed amount - max | 0 | | 2,000 |
Reason for variation | N/A | | N/A |
Appears on Repayment Sched? | No | | No |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
This product has no upfront insurance feesOngoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required for | Some |
Criteria | Security deposit required is a factor of other collateral available & earning capacity over time. At least 30% of loan amount required as savings if no other collateral. |
Is deposit indicated on the repayment schedule? | No |
Do borrowers control deposit in their group? | No |
Deposit BEFORE or AT Disbursement
% loan amount deposited | 30.00% |
or, Fixed-amount deposited | 0 |
Deposits DURING period payments
% loan amount deposited | 0 |
or, Fixed-amount deposited | 0 |
Conditions on access to deposit | When Leaving |
Interest Paid on Deposit
Minimum interest rate paid | 6.00% |
Maximum interest rate paid | 6.00% |
Interest payment frequency | Annually |
Taxes
Are taxes charged on this product? | No |
Additional Comments
Savings during the loan term is 7% of monthly salary amount, regardless of whether member has a loan or not. All first payments made the last day of the month, between then and disbursement date borrower pays interest.
Full Pricing Data
Short Term Loan samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 | | Sample 5 | | Sample 6 |
---|
Loan Amount | RWF 100,000 | | RWF 300,000 | | RWF 600,000 | | RWF 1,200,000 | | RWF 2,000,000 | | RWF 3,065,549 |
Loan Cycle (1, 2, 3, etc) | 0 | | 0 | | 0 | | 0 | | 0 | | 0 |
Disbursement Date | 2011-03-22 | | 2011-03-22 | | 2011-03-22 | | 2011-03-22 | | 2011-03-22 | | 2011-03-02 |
Loan Term (Months) | 25.0 months | | 2.0 months | | 31.0 months | | 61.0 months | | 25.0 months | | 85.0 months |
Grace Period (Months) | 0.0 months | | 0.0 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 | | Not Known | | Not Known |
True Price by Comp | | | | | | | | | | | |
Interest and Fee Component | 19.0% | | 39.9% | | 16.9% | | 15.9% | | 17.0% | | 14.2% |
Insurance Component | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% |
Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% |
Deposit Component | 19.2% | | 17.6% | | 16.3% | | 12.8% | | 17.0% | | 10.5% |
Full APR (int fee ins tax dep) | 38.1% | | 57.5% | | 33.2% | | 28.8% | | 34.0% | | 24.7% |
Transparency Index | 39 | | 26 | | 45 | | 52 | | 44 | | 61 |
| | | | | | | | | | | |
Original Repayment Schedule | PDF | | PDF | | PDF | | PDF | | PDF | | PDF |
MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF | | PDF | | PDF |
Short Term Loan Price Graphs