Please note that the information you are viewing is
168 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: 2010-10-25
Data version: 1
Age of data: 168 months
Institution Type | Credit Union / Cooperative |
Is this institution regulated? | No |
Website address | N/A |
Year established | 1997 |
Head of Institution | P.V. Ravikumar |
Regions active | |
# Branches | 8 |
Total Portfolio (nat'l) | INR 315,140,153 |
Total Portfolio (USD) | USD 5,946,040.62 |
Active clients with loans | 36,543 |
Approximate % female clients | 80% - 100% |
Approximate % urban clients | 40% - 60% |
Network affiliations | |
36,543 Borrowers
USD 5,946,044.68 Portfolio
Active Product
Loan Products » Conditions
Product Name |
|
Loan Size Range |
|
Loan Term (months) |
|
% Female |
|
% Urban |
|
Loan Purpose |
|
Eligibility |
|
Other Services |
Income Generating Loan |
|
INR 5,000 - 50,000 |
|
12 - 60 |
|
80% - 100% |
|
20% - 40% |
|
Any Purpose |
|
Women |
|
Group Mtgs, Credit Ins, Business 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 |
Income Generating Loan |
|
0 |
|
20.2% - 20.6% |
|
31% - 37.2% |
|
|
|
|
|
|
|
N/A |
Loan Products » Pricing Information
Product Name |
|
Annual Nominal Interest |
|
Fees |
|
Insurance |
|
Taxes |
|
Compulsory Deposit |
|
APR (int+fee) |
|
Full APR |
|
Transparency Index |
Income Generating Loan |
|
19.2% annual, Decl Bal |
|
1 Fee |
|
1 Ins |
|
None |
|
20.0% upfront 50.00 ongoing |
|
20.2% - 20.6% |
|
31% - 37.2% |
|
58 |
Please note that the information you are viewing is
156 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: 2011-11-15
Data version: 1
Age of data: 156 months
Key Statistics
Outstanding portfolio (PHP) | PHP 91,512,080 |
Portfolio (USD) | USD 2,189,284.21 |
Active Clients with Loans | 5,185 |
Approximate % Female Clients | 60% - 80% |
Approximate % Urban Clients | 0% - 20% |
Methodology
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other | |
Description
To provide additional capital to all regular members to finance the following; 1. Livelihood projects. 2. Business Activities and 3. Other important needs
Loan Purpose
Any purpose | |
Income generation | x |
Mortgage/housing | x |
Consumer loan | x |
Agriculture | |
Education | x |
Other household finance | x |
Other | |
Other (2) | |
Included Services
Credit education | x |
Group meetings | |
Credit insurance | x |
Workplace visits | x |
Business training | x |
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 | Must be Coop member |
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 | PHP |
Minimum loan size | PHP 500 |
Maximum loan size | 1,000,000 |
Loan Term and Grace Period
Shortest loan term | 1.0 month |
Longest loan term | 36.0 months |
Approx average | 0 |
Grace Period
Grace period usage | 0 |
Average grace period | 0 |
Repayment Frequency
Daily | x |
Weekly | x |
Every 2 weeks | x |
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 | 3.00% |
Highest quoted nominal interest | 3.00% |
Interest rate period | Monthly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | |
Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 | | Fee 2 |
---|
Description | Service Fee | | Notarial Fee |
% of loan amount - min | 4.00% | | 0 |
% of loan amount - max | 4.00% | | 0 |
OR, Fixed amount - min | 0 | | 100 |
Fixed amount - max | 0 | | 100 |
Reason for variation | | | N/A |
Appears on Repayment Sched? | No | | No |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 |
---|
Description | Credit Insurance |
% of loan amount - min | 1.50% |
% of loan amount - max | 1.50% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | No |
Ongoing Insurance Fees
| Ins 1 |
---|
Description | MBA, Life and Retirement Insurance |
% of loan amount - min | 0 |
% of loan amount - max | 0 |
OR, Fixed amount - min | 20 |
Fixed amount - max | 20 |
Reason for variation | N/A |
Appears on Repayment Sched? | No |
Compulsory Deposit
Required for | All |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | |
Do borrowers control deposit in their group? | |
Deposit BEFORE or AT Disbursement
% loan amount deposited | 6.50% |
or, Fixed-amount deposited | 0 |
Deposits DURING period payments
% loan amount deposited | 0 |
or, Fixed-amount deposited | PHP 26 |
Conditions on access to deposit | Access During |
Interest Paid on Deposit
Minimum interest rate paid | 3.00% |
Maximum interest rate paid | 3.00% |
Interest payment frequency | Annually |
Taxes
Are taxes charged on this product? | No |
Additional Comments
Savings Prior to Disbursement= CBU (2.5% of Loan Amount) + MMAF Standby Fund (4% of Loan Amount) Savings During Period Repayments = Weekly CBU (PhP2)+ Weekly MMAF (PhP6)
Full Pricing Data
Regular Loan samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 | | Sample 5 | | Sample 6 |
---|
Loan Amount | PHP 3,000 | | PHP 8,000 | | PHP 15,000 | | PHP 30,000 | | PHP 50,000 | | PHP 90,000 |
Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known | | Not Known | | Not Known |
Disbursement Date | 2011-04-30 | | 2011-07-14 | | 2011-07-14 | | 2011-01-27 | | 2011-07-14 | | 2011-02-17 |
Loan Term (Months) | 6.0 months | | 12.0 months | | 4.0 months | | 11.7 months | | 12.0 months | | 12.0 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 | 88.7% | | 70.1% | | 80.8% | | 74.5% | | 69.9% | | 70.6% |
Insurance Component | 19.6% | | 8.3% | | 10.8% | | 9.5% | | 4.2% | | 3.9% |
Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% |
Deposit Component | 14.3% | | 10.7% | | 9.8% | | 12.7% | | 9.3% | | 8.6% |
Full APR (int fee ins tax dep) | 122.6% | | 89.1% | | 101.5% | | 96.7% | | 83.4% | | 83.2% |
Transparency Index | 29 | | 40 | | 35 | | 37 | | 43 | | 43 |
| | | | | | | | | | | |
Original Repayment Schedule | PDF | | PDF | | PDF | | PDF | | PDF | | PDF |
MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF | | PDF | | PDF |
Regular Loan Price Graphs