Institution Type | Non-Governmental Organization |
Is this institution regulated? | Yes |
Website address | N/A |
Year established | 1995 |
Head of Institution | Alok Jain |
Regions active | |
# Branches | 1 |
Total Portfolio (nat'l) | INR 8,922,941 |
Total Portfolio (USD) | USD 168,357.38 |
Active clients with loans | 1,650 |
Approximate % female clients | 80% - 100% |
Approximate % urban clients | 40% - 60% |
Network affiliations |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Loan for Entrepreneurship | INR 4,000 - 12,000 | 11.5 | 80% - 100% | 40% - 60% | Business | Women, Have business | Group Mtgs, 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 | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Loan for Entrepreneurship | 0 | 39.6% - 40% | 41.8% - 44.7% | N/A |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Loan for Entrepreneurship | 18.0% annual, Flat | 0 Fees | 0 | None | N/A | 39.6% - 40% | 41.8% - 44.7% | 41 |
Outstanding portfolio (COP) | 0 |
Portfolio (USD) | |
Active Clients with Loans | 7,624 |
Approximate % Female Clients | 0 |
Approximate % Urban Clients | 0 |
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other |
Any purpose | x |
Income generation | |
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 | x |
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 | N/A |
# Regions for this product | N/A |
Regions Active |
Currency | COP |
Minimum loan size | COP 268,000 |
Maximum loan size | 64,272,000 |
Shortest loan term | 6.0 months |
Longest loan term | 60.0 months |
Approx average | 0 |
Grace period usage | 0 |
Average grace period | 0 |
Daily | |
Weekly | x |
Every 2 weeks | x |
Every 4 weeks | |
Monthly | x |
Every 2 months | |
Quarterly | x |
Every 6 months | |
Every 12 months | |
Single end payment | |
Irregular payments |
Lowest quoted nominal interest | 16.80% |
Highest quoted nominal interest | 24.00% |
Reason(s) why interest rate varies | N/A |
Interest rate period | Yearly |
Interest Rate Calculation Method | Decl Bal |
Subsidized by funder request? | |
Is rate fixed for entire loan term | Yes |
Fee 1 | |
---|---|
Description | Fondo de Desarrollo Institucional |
% of loan amount - min | 2.32% |
% of loan amount - max | 3.48% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | |
Appears on Repayment Sched? | No |
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? | No |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | ||||
---|---|---|---|---|---|---|---|
Loan Amount | COP 517,400 | COP 6,312,280 | COP 12,831,520 | COP 25,989,280 | |||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
Disbursement Date | 2011-03-07 | 2011-03-15 | 2011-02-14 | 2011-04-26 | |||
Loan Term (Months) | 12.0 months | 36.0 months | 36.0 months | 60.0 months | |||
Grace Period (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 | |||
True Price by Comp | |||||||
Interest and Fee Component | 30.8% | 26.6% | 26.7% | 20.3% | |||
Insurance Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
Deposit Component | 6.3% | 0.3% | 0.2% | 0.1% | |||
Full APR (int fee ins tax dep) | 37.1% | 26.9% | 26.9% | 20.3% | |||
Transparency Index | 45 | 62 | 62 | 83 | |||
Original Repayment Schedule | |||||||
MFT Pricing Calculation |
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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 |
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