Institution Type | Non Bank Financial Institution |
Is this institution regulated? | Yes |
Website address | http://www.utkarshmfi.com/ |
Year established | 1990 |
Head of Institution | Govind Singh |
Regions active | Bihar, Madhya Pradesh |
# Branches | 92 |
Total Portfolio (nat'l) | INR 1,374,101,555 |
Total Portfolio (USD) | USD 25,926,444.43 |
Active clients with loans | 168,691 |
Approximate % female clients | 80% - 100% |
Approximate % urban clients | 0% - 20% |
Network affiliations |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Utkarsh Pragati | INR 6,000 - 15,000 | 12 - 14 | 100% | 0% - 20% | Business | Women, Have business, Specific age group, Low HH Inc, Med HH Inc, Rural HH, Urban HH, Client age must be between 21 to 55. | Credit Educ, Group Mtgs, Tech Asst Visits | |||||||
Utkarsh Kiran | INR 18,000 - 25,000 | 24 | 100% | 0% - 20% | Business | Women, Have business, Specific age group, Low HH Inc, Med HH Inc, Rural HH, Urban HH, Client age must be between 21 to 55. | Credit Educ, Group Mtgs, Tech Asst Visits | |||||||
Utkarsh Samridhi | INR 25,000 - 300,000 | 6 - 36 | 0% - 20% | 100% | Business | Women, Men, Have business, Have home or land, Must have atleast 3 years of experience in existing business. | Business Training |
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 | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Utkarsh Pragati | 25.6% - 25.9% | 27.3% - 27.5% | 29.4% - 29.6% | Yes | Yes | Yes | 100 | |||||||
Utkarsh Kiran | 25.8% - 26.1% | 26.8% - 27.1% | 28% - 28.3% | Yes | Yes | Yes | 100 | |||||||
Utkarsh Samridhi | 28.8% | 30.4% | 32.6% | NA | NA | NA | 100 |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Utkarsh Pragati | 25.9% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 27.3% - 27.5% | 29.4% - 29.6% | 88 | ||||||||
Utkarsh Kiran | 25.9% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 26.8% - 27.1% | 28% - 28.3% | 92 | ||||||||
Utkarsh Samridhi | 29.0% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 30.4% | 32.6% | 89 |
Outstanding portfolio (RWF) | RWF 96,905,680 |
Portfolio (USD) | USD 153,819 |
Active Clients with Loans | 169 |
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 | |
Group meetings | |
Credit insurance | |
Workplace visits | |
Business training | |
Other training | |
Other | |
Other (2) | |
No other services | x |
Men | |
Women | x |
Must run a business | |
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 | 3 |
Regions Active | Gasabo, Kicukiro, Nyarugenge |
Currency | RWF |
Minimum loan size | RWF 300,000 |
Maximum loan size | 2,400,000 |
Loans less than RWF 500,000 | 30% |
RWF 500,000-1,500,000 | 30% |
RWF 1,500,000-2,500,000 | 40% |
RWF 2,500,000-3,500,000 | 0 |
RWF 3,500,000-4,500,000 | 0 |
Greater than RWF 4,500,000 | 0 |
Shortest loan term | 4.0 months |
Longest loan term | 12.0 months |
Approx average | DK |
Loans 3 months or less | 0 |
Between 4 and 6 months | 0 |
Between 7 and 9 months | 100% |
Between 10 and 12 months | 0 |
Between 13 and 18 months | 0 |
Longer than 18 months | 0 |
Grace period usage | 0 |
Average grace period | 0 |
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 |
Lowest quoted nominal interest | 0.50% |
Highest quoted nominal interest | 0.50% |
Interest rate period | Weekly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Fee 1 | |
---|---|
Description | Commission sur credit |
% 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? | No |
Ins 1 | Ins 2 | ||
---|---|---|---|
Description | Assurance sur credit | Commission on Insurance | |
% of loan amount - min | 0.06% | 0 | |
% of loan amount - max | 1.12% | 0 | |
OR, Fixed amount - min | 0 | 1,000 | |
Fixed amount - max | 0 | 1,000 | |
Reason for variation | N/A | N/A | |
Appears on Repayment Sched? | No | No |
Required for | All |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | No |
Do borrowers control deposit in their group? | No |
% loan amount deposited | 10.00% |
or, Fixed-amount deposited | 0 |
% loan amount deposited | 10.00% |
or, Fixed-amount deposited | 0 |
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? | Yes |
Percentage of fees | 18% |
All or some fees taxed | All |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | ||||
---|---|---|---|---|---|---|---|
Loan Amount | RWF 450,000 | RWF 900,000 | RWF 2,100,000 | RWF 1,800,000 | |||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
Disbursement Date | 2012-09-10 | 2012-09-18 | 2012-03-28 | 2012-10-17 | |||
Loan Term (Months) | 7.0 months | 7.0 months | 11.0 months | 11.0 months | |||
Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | -0.8 months | |||
Total Cost of Credit | RWF 81,739.72 | RWF 162,299.44 | RWF 553,302.76 | RWF 474,428.08 | |||
True Price by Comp | |||||||
Interest price component | 48.1% | 48.1% | 47.5% | 47.5% | |||
Fee Component | 3.3% | 3.3% | 2.3% | 2.3% | |||
Insurance Component | 2.8% | 2.5% | 2.3% | 2.3% | |||
Tax Component | 1.2% | 1.0% | 0.9% | 0.9% | |||
Deposit Component | 18.8% | 18.7% | 17.0% | 17.0% | |||
Full APR (int fee ins tax dep) | 74.2% | 73.6% | 70.0% | 70.0% | |||
Transparency Index | 35 | 35 | 37 | 37 | |||
Original Repayment Schedule | |||||||
MFT Pricing Calculation |
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% Products with one or more insurances | |
% Products with compulsory deposits |
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