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Institution
Data approved: 2010-11-02
Data version: 2
Age of data: - months
Key Statistics
Outstanding portfolio (INR) | INR 29,943,614,509 |
Portfolio (USD) | USD 665,413,655.80 |
Active Clients with Loans | 3,509,722 |
Approximate % Female Clients | 80% - 100% |
Approximate % Urban Clients | 0% - 20% |
Methodology
Individual | |
Solidarity group | x |
Village banking | |
Self help group | |
Other | |
Description
Abhilasha (Aspiration) is designed for those low-income households who are economically active and have an aspiration to improve their economic well-being. The loan is offered in a group mechanism. Women clients, weekly repayments
Loan Purpose
Any purpose | |
Income generation | x |
Mortgage/housing | x |
Consumer loan | |
Agriculture | |
Education | x |
Other household finance | x |
Other | to retire expensive debt |
Other (2) | health purposes including better nutrition |
Included Services
Credit education | x |
Group meetings | x |
Credit insurance | |
Workplace visits | |
Business training | |
Other training | x |
Other | Loan utilisation |
Other (2) | Group Solidarity & specs of loan product |
No other services | |
Eligibility
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 | |
Household income <120,000 INR | |
Must live in rural area | |
Must lives in urban area | |
Other | economically active |
Other (2) | |
Portfolio Size by Product
Geographic Coverage
# Regions for this institution | N/A |
# Regions for this product | N/A |
Regions Active | |
Loan Conditions
Loan Amount
Currency | INR |
Minimum loan size | INR 6,000 |
Maximum loan size | 20,000 |
Loan Term and Grace Period
Shortest loan term | 11.5 months |
Longest loan term | 23.1 months |
Approx average | 11.5 months |
Grace Period
Grace period usage | 0 |
Average grace period | 0 |
Repayment Frequency
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 | |
Pricing Information
Interest
Lowest quoted nominal interest | 12.50% |
Highest quoted nominal interest | 15.00% |
Interest rate period | Yearly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | N/A |
Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 |
---|
Description | Upfront Interest |
% 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? | Yes |
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 | Never |
Criteria | N/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 deposited | N/A |
or, Fixed-amount deposited | N/A |
Deposits DURING period payments
% loan amount deposited | N/A |
or, Fixed-amount deposited | N/A |
Conditions on access to deposit | N/A |
Interest Paid on Deposit
Minimum interest rate paid | N/A |
Maximum interest rate paid | N/A |
Interest payment frequency | N/A |
Taxes
Are taxes charged on this product? | No |
Additional Comments
Insurance is voluntary
Full Pricing Data
Abhilasha samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 |
---|
Loan Amount | INR 10,000 | | INR 12,000 | | INR 14,000 | | INR 16,000 |
Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known |
Disbursement Date | 2010-05-11 | | 2010-05-15 | | 2010-05-04 | | 2010-05-07 |
Loan Term (Months) | 11.7 months | | 11.7 months | | 11.7 months | | 11.7 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 | 28.0% | | 28.0% | | 27.7% | | 28.5% |
Insurance Component | 0.0% | | 0.0% | | 0.0% | | 0.0% |
Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% |
Deposit Component | 0.0% | | 0.0% | | 0.0% | | 0.0% |
Full APR (int fee ins tax dep) | 28.0% | | 28.0% | | 27.7% | | 28.5% |
MFIN MFI Earning (Annualised) | 28.0% | | 28.0% | | 27.7% | | 28.5% |
MFIN Cost to Borrower (Annualised) | 28.0% | | 28.0% | | 27.7% | | 28.5% |
Transparency Index | 45 | | 45 | | 45 | | 44 |
MFIN Transparency Index | N/A | | N/A | | N/A | | N/A |
| | | | | | | |
Original Repayment Schedule | PDF | | PDF | | PDF | | PDF |
MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF |
* The APR stated here is an MFTransparency term, definition and formula