| Institution Type | Non Bank Financial Institution |
| Is this institution regulated? | Yes |
| Website address | http://www.svcl.in/ |
| Year established | 2010 |
| Head of Institution | Rakesh Dubey |
| Regions active | Madhya Pradesh, Rajasthan, Uttar Pradesh |
| # Branches | 44 |
| Total Portfolio (nat'l) | INR 1,000,987,853 |
| Total Portfolio (USD) | USD 18,886,563.26 |
| Active clients with loans | 118,217 |
| Approximate % female clients | 100% |
| Approximate % urban clients | 40% - 60% |
| Network affiliations | SADHAN, MFIN |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Generation Loan | INR 8,000 - 14,000 | 10.7 | 100% | 40% - 60% | Business | Women, Have business, Specific age group, Low HH Inc, Med HH Inc | Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits |
| 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Generation Loan | 29.9% | 32.2% | 34.4% - 35.1% | Yes | Yes | Yes | 100 |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Generation Loan | 30.0% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 32.2% | 34.4% - 35.1% | 86 |
| Outstanding portfolio (TZS) | TZS 8,761,921,729 |
| Portfolio (USD) | USD 5,510,642.60 |
| Active Clients with Loans | 2,439 |
| Approximate % Female Clients | 60% - 80% |
| Approximate % Urban Clients | 80% - 100% |
| Individual | x |
| 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 | |
| Group meetings | x |
| Credit insurance | x |
| Workplace visits | |
| Business training | |
| Other training | |
| 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 | 20 |
| # Regions for this product | 26 |
| Regions Active | Arusha, Dar es Salaam, Dodoma, Iringa, Kagera, Kigoma, Kilimanjaro, Lindi, Manyara, MaraMbeya, Morogoro, Mtwara, Mwanza, Pemba North, Pemba South, Pwani, Rukwa, Ruvuma, ShinyangaSingida, Tabora, Tanga, Zanzibar Central/South, Zanzibar North, Zanzibar Urban/West |
| Currency | TZS |
| Minimum loan size | TZS 3,000,000 |
| Maximum loan size | 35,000,000 |
| Loans less than TZS 350,000 | 0 |
| TZS 350,000-1,250,000 | 0 |
| TZS 1,250,000-2,000,000 | 0 |
| TZS 2,000,000-3,000,000 | 0 |
| TZS 3,000,000-4,000,000 | 40% |
| Greater than TZS 4,000,000 | 40% |
| Shortest loan term | 6.0 months |
| Longest loan term | 24.0 months |
| Approx average | DK |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 0 |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 20% |
| Between 13 and 18 months | 30% |
| Longer than 18 months | 50% |
| 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 | 22.00% |
| Highest quoted nominal interest | 24.00% |
| Reason(s) why interest rate varies | Loan Size, Loans < 5M pay 24% and loans > 5M pay 22%. |
| 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 | 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 | Loan Insurance |
| % of loan amount - min | 1.35% |
| % of loan amount - max | 1.35% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | Yes |
| Required for | All |
| Criteria | Interest on deposit is paid every six months. |
| Is deposit indicated on the repayment schedule? | No |
| Do borrowers control deposit in their group? | No |
| % loan amount deposited | 25.00% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | TZS 13,000 |
| Conditions on access to deposit | When Leaving |
| Minimum interest rate paid | 3.00% |
| Maximum interest rate paid | 5.00% |
| Interest payment frequency | End Term |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | TZS 3,000,000 | TZS 3,800,000 | TZS 5,000,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2013-01-22 | 2013-06-12 | 2013-07-26 | ||
| 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 | TZS 790,500 | TZS 1,001,300 | TZS 1,317,500 | ||
| True Price by Comp | |||||
| Interest price component | 41.3% | 41.0% | 41.0% | ||
| Fee Component | 2.0% | 2.0% | 2.0% | ||
| Insurance Component | 2.7% | 2.7% | 2.7% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 34.5% | 33.2% | 32.2% | ||
| Full APR (int fee ins tax dep) | 80.5% | 78.9% | 77.9% | ||
| Transparency Index | 27 | 28 | 28 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
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| % 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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