| Outstanding portfolio (INR) | INR 696,651,182 |
| Portfolio (USD) | USD 13,144,361.92 |
| Active Clients with Loans | 71,053 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 80% - 100% |
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| 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 | |
| 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 | |
| Must lives in urban area | |
| Other | |
| Other (2) |
| # Regions for this institution | 5 |
| # Regions for this product | 5 |
| Regions Active | Gujarat, Karnataka, Maharashtra, Orissa, Tamil Nadu |
| Currency | INR |
| Minimum loan size | INR 15,000 |
| Maximum loan size | 15,000 |
| 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 | 18.0 months |
| Longest loan term | 18.0 months |
| Approx average | 18.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 0 |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 0 |
| Between 13 and 18 months | 100% |
| Longer than 18 months | 0 |
| Grace period usage | 0 |
| Average grace period | 0 |
| 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 |
| Lowest quoted nominal interest | 26.00% |
| Highest quoted nominal interest | 26.00% |
| 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 | 1.00% |
| % of loan amount - max | 1.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | Yes |
| Ins 1 | |
|---|---|
| Description | Life Insurance |
| % of loan amount - min | 0 |
| % of loan amount - max | 0 |
| OR, Fixed amount - min | 260 |
| Fixed amount - max | 260 |
| Reason for variation | Insurance of Rs. 20000 each to member & guarantor for 18 months. |
| Appears on Repayment Sched? | Yes |
| 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 |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | INR 15,000 | INR 15,000 | INR 15,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2013-03-30 | 2013-01-02 | 2013-02-01 | ||
| Loan Term (Months) | 18.0 months | 18.0 months | 18.0 months | ||
| Grace Period (Months) | 0.2 months | 0.0 months | 0.0 months | ||
| Total Cost of Credit | INR 3,758 | INR 3,758.54 | INR 3,758.54 | ||
| True Price by Comp | |||||
| Interest price component | 25.2% | 25.8% | 25.6% | ||
| Fee Component | 1.3% | 1.3% | 1.3% | ||
| Insurance Component | 2.3% | 2.4% | 2.4% | ||
| Tax Component | 0.2% | 0.2% | 0.1% | ||
| Deposit Component | 0.0% | 0.0% | 0.0% | ||
| Full APR (int fee ins tax dep) | 29.0% | 29.7% | 29.4% | ||
| MFIN MFI Earning (Annualised) | 26.5% | 27.1% | 26.9% | ||
| MFIN Cost to Borrower (Annualised) | 29.0% | 29.7% | 29.4% | ||
| Transparency Index | 90 | 88 | 88 | ||
| MFIN Transparency Index | 100 | 100 | 100 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| Institution Type | Bank |
| Is this institution regulated? | Yes |
| Website address | N/A |
| Year established | 2003 |
| Head of Institution | Shedehva Optat |
| Regions active | Ruvuma |
| # Branches | 1 |
| Total Portfolio (nat'l) | TZS 4,748,143,743 |
| Total Portfolio (USD) | USD 2,986,253.93 |
| Active clients with loans | 1,069.80 |
| Approximate % female clients | 20% - 40% |
| Approximate % urban clients | 20% - 40% |
| Network affiliations | Community Bank Association |
| Funders | Financial Sector Deepening, Agricultural Trust Fund |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Salary Loan | TZS 300,000 - 6,000,000 | 12 | 60% - 80% | 40% - 60% | Any Purpose | Women, Men, Salaried worker | Group Mtgs, Business Training | |||||||
| Small Business Loan | TZS 1,000,000 - 45,000,000 | 3 - 18 | 20% - 40% | 60% - 80% | Business | Women, Men, Have business | Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Business Training | |||||||
| Solidarity Group Loan | TZS 500,000 - 3,500,000 | 1 - 12 | 40% - 60% | 20% - 40% | Business, Agriculture | Women, Men, Must run agricultural activities or business | Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Business Training |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Salary Loan | 24.00% annual, Flat | 2 Fees | 1 Ins | None | N/A | 48.7% - 57.2% | 50% - 59.8% | 41 | ||||||||
| Small Business Loan | 10.00%-24.00% annual, Flat | 3 Fees | 1 Ins | None | N/A | 58.6% - 71.7% | 61.2% - 77% | 15 | ||||||||
| Solidarity Group Loan | 10.00%-30.00% annual, Flat | 2 Fees | 1 Ins | None | 30.00% upfront | 14.2% - 94.9% | 22.9% - 242.9% | 8 |
| Key Statistics | |
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| 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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