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 (GHS) | GHS 370,227 |
Portfolio (USD) | USD 187,932.49 |
Active Clients with Loans | 1,367 |
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 | x |
Group meetings | x |
Credit insurance | |
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 | 2 |
# Regions for this product | 2 |
Regions Active | Greater Accra Region, Central Region |
Currency | GHS |
Minimum loan size | GHS 500 |
Maximum loan size | 3,000 |
Loans less than GHS 1,000 | 20% |
GHS 1,000-5,000 | 80% |
GHS 5,000-7,500 | 0 |
GHS 7,500-10,000 | 0 |
GHS 10,000-13,000 | 0 |
Greater than GHS 13,000 | 0 |
Shortest loan term | 4.0 months |
Longest loan term | 6.0 months |
Approx average | 6.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 100% |
Between 7 and 9 months | 0 |
Between 10 and 12 months | 0 |
Between 13 and 18 months | 0 |
Longer than 18 months | 0 |
Grace period usage | 100% |
Average grace period | 0.8 months |
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 | 48.00% |
Highest quoted nominal interest | 48.00% |
Interest rate period | Yearly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Fee 1 | Fee 2 | ||
---|---|---|---|
Description | Commitment Fee | Loan Form and Pass Book Fee | |
% of loan amount - min | 5.00% | 0 | |
% of loan amount - max | 5.00% | 0 | |
OR, Fixed amount - min | 0 | 7 | |
Fixed amount - max | 0 | 7 | |
Reason for variation | N/A | N/A | |
Appears on Repayment Sched? | Yes | 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 | 1.00% |
or, Fixed-amount deposited | 0 |
Conditions on access to deposit | Access During |
Minimum interest rate paid | 2.00% |
Maximum interest rate paid | 7.50% |
Interest payment frequency | Monthly |
Are taxes charged on this product? | No |
Sample 1 | Sample 2 | Sample 3 | |||
---|---|---|---|---|---|
Loan Amount | GHS 600 | GHS 1,500 | GHS 1,200 | ||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
Disbursement Date | 2013-02-13 | 2013-02-13 | 2013-02-13 | ||
Loan Term (Months) | 6.0 months | 6.0 months | 6.0 months | ||
Grace Period (Months) | 0.4 months | 0.4 months | 0.4 months | ||
Total Cost of Credit | GHS 181 | GHS 442 | GHS 355 | ||
True Price by Comp | |||||
Interest price component | 81.1% | 81.1% | 81.1% | ||
Fee Component | 24.9% | 22.0% | 22.5% | ||
Insurance Component | 0.0% | 0.0% | 0.0% | ||
Tax Component | 0.0% | 0.0% | 0.0% | ||
Deposit Component | 21.3% | 20.6% | 20.7% | ||
Full APR (int fee ins tax dep) | 127.3% | 123.7% | 124.3% | ||
Transparency Index | 38 | 39 | 39 | ||
Original Repayment Schedule | |||||
MFT Pricing Calculation |
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Loan Portfolio (USD) | |
% Products using declining balance | |
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% Products with one or more insurances | |
% Products with compulsory deposits |
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