Institution Type | Non Bank Financial Institution |
Is this institution regulated? | Yes |
Website address | http://www.village.net.in |
Year established | 2006 |
Head of Institution | Kuldip Maity |
Regions active | Bihar, West Bengal |
# Branches | 96 |
Total Portfolio (nat'l) | INR 1,020,993,623 |
Total Portfolio (USD) | USD 19,264,030.62 |
Active clients with loans | 175,408 |
Approximate % female clients | 80% - 100% |
Approximate % urban clients | 0% - 20% |
Network affiliations | Sa-Dhan, MFIN |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Pragati | INR 4,000 - 15,000 | 11.5 - 12.1 | 80% - 100% | 0% - 20% | Business | Women | Group Mtgs, Credit Ins | |||||||
Samridhhi | INR 16,000 - 50,000 | 23.9 - 24.3 | 80% - 100% | 0% - 20% | Business | Women | Group Mtgs, Credit Ins, Other 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 | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Pragati | 25.1% - 26.1% | 27.3% - 28.3% | 29.8% - 30.9% | Yes | Yes | Yes | 91 | |||||||
Samridhhi | 22.6% - 26% | 23.7% - 27.1% | 26% - 29.5% | Yes | Yes | Yes | 95 |
Outstanding portfolio (USD) | USD 20,387,951 |
Portfolio (USD) | USD 20,387,951 |
Active Clients with Loans | 5,627 |
Approximate % Female Clients | 40% - 60% |
Approximate % Urban Clients | 60% - 80% |
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 | x |
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 | N/A |
# Regions for this product | N/A |
Regions Active |
Currency | USD |
Minimum loan size | USD 300 |
Maximum loan size | 10,000 |
Shortest loan term | 2.0 months |
Longest loan term | 24.0 months |
Approx average | 23.0 months |
Grace period usage | 0 |
Average grace period | 0 |
Daily | |
Weekly | |
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 | 24.50% |
Highest quoted nominal interest | 26.90% |
Reason(s) why interest rate varies | Loan Size |
Interest rate period | Yearly |
Interest Rate Calculation Method | Decl Bal |
Subsidized by funder request? | |
Is rate fixed for entire loan term | Yes |
Ins 1 | |
---|---|
Description | Seguro de Desgravamen |
% of loan amount - min | 6.00% |
% of loan amount - max | 6.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | Cobro de Seguro de Desgravamen sobre el monto pendiente de capital |
Appears on Repayment Sched? | Yes |
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 | USD 1,000 | USD 2,000 | USD 4,000 | USD 5,000 | |||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
Disbursement Date | 2010-06-04 | 2010-06-23 | 2010-06-16 | 2010-06-18 | |||
Loan Term (Months) | 10.0 months | 24.0 months | 24.0 months | 18.0 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 | 26.8% | 22.9% | 22.9% | 24.4% | |||
Insurance Component | 0.6% | 0.6% | 0.6% | 0.6% | |||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
Deposit Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
Full APR (int fee ins tax dep) | 27.5% | 23.5% | 23.5% | 25.0% | |||
Transparency Index | 89 | 100 | 100 | 98 | |||
Original Repayment Schedule | |||||||
MFT Pricing Calculation |
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Loan Portfolio (USD) | |
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% Products with one or more insurances | |
% Products with compulsory deposits |
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