Institution Type | Non Bank Financial Institution |
Is this institution regulated? | Yes |
Website address | http://www.swadhaar.com/ |
Year established | 2008 |
Head of Institution | Veena Mankar |
Regions active | Gujarat, Maharashtra |
# Branches | 30 |
Total Portfolio (nat'l) | INR 909,845,169 |
Total Portfolio (USD) | USD 17,166,889.98 |
Active clients with loans | 92,891 |
Approximate % female clients | 80% - 100% |
Approximate % urban clients | 100% |
Network affiliations |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Swahit - Individual Loan with Joint Liability | INR 8,000 - 34,000 | 24 | 100% | 100% | Business | Women, Have business, Specific age group, Med HH Inc, Urban HH | Credit Educ, Credit Ins | |||||||
Swayog - Individual Business Loan | INR 8,000 - 75,000 | 3 - 12 | 0% - 20% | 100% | Business | Women, Men, Have business, Specific age group, Urban HH, The client must be the owner of the business. | Credit Ins | |||||||
Top Up Loan | INR 2,000 - 5,000 | 12 | 100% | 100% | Business | Women, Have business, Specific age group, Med HH Inc, Urban HH | Credit Ins |
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 | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Swahit - Individual Loan with Joint Liability | 25.8% | 26.8% - 26.9% | 27.9% - 28% | Yes | Yes | Yes | 100 | |||||||
Swayog - Individual Business Loan | 28.1% - 29.9% | 31.5% - 35% | 32.8% - 37% | Yes | Yes | Yes | 100 | |||||||
Top Up Loan | 26% - 26.2% | 27.8% - 28.1% | 28.8% - 29.2% | Yes | Yes | Yes | 99 |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Swahit - Individual Loan with Joint Liability | 26.0% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 26.8% - 26.9% | 27.9% - 28% | 93 | ||||||||
Swayog - Individual Business Loan | 30.0% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 31.5% - 35% | 32.8% - 37% | 85 | ||||||||
Top Up Loan | 26.0% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 27.8% - 28.1% | 28.8% - 29.2% | 89 |
Outstanding portfolio (TZS) | TZS 236,174,979 |
Portfolio (USD) | USD 148,537.72 |
Active Clients with Loans | 606 |
Approximate % Female Clients | 80% - 100% |
Approximate % Urban Clients | 0% - 20% |
Individual | x |
Solidarity group | x |
Village banking | |
Self help group | |
Other |
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | x |
Education | |
Other household finance | |
Other | |
Other (2) |
Credit education | x |
Group meetings | x |
Credit insurance | |
Workplace visits | x |
Business training | x |
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 | 2 |
# Regions for this product | 2 |
Regions Active | Dar es Salaam, Pwani |
Currency | TZS |
Minimum loan size | TZS 100,000 |
Maximum loan size | 5,000,000 |
Loans less than TZS 350,000 | 40% |
TZS 350,000-1,250,000 | 40% |
TZS 1,250,000-2,000,000 | 15% |
TZS 2,000,000-3,000,000 | 5% |
TZS 3,000,000-4,000,000 | 0 |
Greater than TZS 4,000,000 | 0 |
Shortest loan term | 3.0 months |
Longest loan term | 12.0 months |
Approx average | 1.3 months |
Loans 3 months or less | 30% |
Between 4 and 6 months | 40% |
Between 7 and 9 months | 20% |
Between 10 and 12 months | 10% |
Between 13 and 18 months | 0 |
Longer than 18 months | 0 |
Grace period usage | 100% |
Average grace period | 0.2 months |
Daily | |
Weekly | x |
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 | 3.00% |
Highest quoted nominal interest | 4.00% |
Reason(s) why interest rate varies | Time as Client |
Interest rate period | Monthly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | Yes |
Is rate fixed for entire loan term | Yes |
Fee 1 | Fee 2 | ||
---|---|---|---|
Description | Loan Processing Fee | Membership Fee | |
% of loan amount - min | 2.50% | 0 | |
% of loan amount - max | 3.00% | 0 | |
OR, Fixed amount - min | 0 | 15,000 | |
Fixed amount - max | 0 | 15,000 | |
Reason for variation | Loans <2,000,000 =3%, loans>2,000,000 =2.5% | Only on first cycle loans. | |
Appears on Repayment Sched? | Yes | Yes |
Ins 1 | |
---|---|
Description | Death Recovery Insurance Fee |
% of loan amount - min | 2.00% |
% of loan amount - max | 2.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | Yes |
Required for | All |
Criteria | Upfront: 1st cycle =10%. Multiple cycle =20%. Ongoing = 1st & 2nd cycle = 1500 TZS each week. 3rd cycle onward = 2000 TZS each week. |
Is deposit indicated on the repayment schedule? | Yes |
Do borrowers control deposit in their group? | Yes |
% loan amount deposited | 10.00% - 20.00% |
or, Fixed-amount deposited | 0 |
% loan amount deposited | 0 |
or, Fixed-amount deposited | TZS 1,500 - TZS 2,000 |
Conditions on access to deposit | End Term |
Minimum interest rate paid | 0 |
Maximum interest rate paid | 0 |
Interest payment frequency | N/A |
Are taxes charged on this product? | No |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | |||||
---|---|---|---|---|---|---|---|---|---|
Loan Amount | TZS 100,000 | TZS 300,000 | TZS 500,000 | TZS 1,000,000 | TZS 2,000,000 | ||||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | ||||
Disbursement Date | 2013-07-24 | 2013-05-13 | 2013-04-26 | 2013-07-18 | 2013-02-25 | ||||
Loan Term (Months) | 4.9 months | 5.8 months | 4.9 months | 8.0 months | 9.0 months | ||||
Grace Period (Months) | 0.2 months | 0.2 months | 0.2 months | 0.2 months | 0.0 months | ||||
Total Cost of Credit | TZS 40,000 | TZS 87,000 | TZS 125,000 | TZS 370,000 | TZS 890,000 | ||||
True Price by Comp | |||||||||
Interest price component | 84.8% | 85.7% | 84.8% | 86.3% | 90.8% | ||||
Fee Component | 97.4% | 12.6% | 14.5% | 9.9% | 7.3% | ||||
Insurance Component | 12.6% | 8.6% | 10.1% | 6.9% | 6.0% | ||||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||||
Deposit Component | 104.3% | 75.0% | 64.5% | 55.0% | 50.8% | ||||
Full APR (int fee ins tax dep) | 299.1% | 181.9% | 173.9% | 158.1% | 154.9% | ||||
Transparency Index | 12 | 20 | 21 | 23 | 23 | ||||
Original Repayment Schedule | |||||||||
MFT Pricing Calculation |
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% Products with one or more insurances | |
% Products with compulsory deposits |
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