Institution Type | Non Bank Financial Institution |
Is this institution regulated? | Yes |
Website address | http://www.muthoot.com, www.muthoot.com/mmm |
Year established | 1997 |
Head of Institution | Thomas Muthoot |
Regions active | Gujarat, Karnataka, Kerala, Tamil Nadu |
# Branches | 135 |
Total Portfolio (nat'l) | INR 2,601,408,238 |
Total Portfolio (USD) | USD 49,083,174.30 |
Active clients with loans | 331,892 |
Approximate % female clients | 100% |
Approximate % urban clients | 0% - 20% |
Network affiliations | MFIN, Kerala Association of Microfinance Institutions |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Muthoot Mahila Mitra | INR 10,000 - 20,000 | 12 | 100% | 0% - 20% | Business | Women |
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 | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Muthoot Mahila Mitra | 25.8% - 26.6% | 26.9% - 28.7% | 27.5% - 29.8% | Yes | Yes | Yes | 100 |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Muthoot Mahila Mitra | 26.0% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 26.9% - 28.7% | 27.5% - 29.8% | 90 |
Outstanding portfolio (KES) | KES 1,300,738,495 |
Portfolio (USD) | USD 15,709,402.11 |
Active Clients with Loans | 34,018 |
Approximate % Female Clients | 20% - 40% |
Approximate % Urban Clients | 0 |
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other |
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | Purchase of farm inputs |
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 | |
Must own a home or land | |
Must be a salaried worker | |
Must be specific age group | |
Other | Must be in small scale or commercial farming |
Other (2) | Active Equity Bank account |
# Regions for this institution | 8 |
# Regions for this product | 8 |
Regions Active | Central, Coast, Eastern, Nairobi, North Eastern, Nyanza, Rift Valley, Western |
Currency | KES |
Minimum loan size | KES 1,000 |
Maximum loan size | 100,000 |
Loans less than KES 50,000 | 70% |
KES 50,000-150,000 | 30% |
KES 150,000-250,000 | 0 |
KES 250,000-350,000 | 0 |
KES 350,000-450,000 | 0 |
Greater than KES 450,000 | 0 |
Shortest loan term | 1.0 month |
Longest loan term | 12.0 months |
Approx average | 6.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 5% |
Between 7 and 9 months | 15% |
Between 10 and 12 months | 80% |
Between 13 and 18 months | 0 |
Longer than 18 months | 0 |
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 | x |
Irregular payments |
Lowest quoted nominal interest | 1.58% |
Highest quoted nominal interest | 1.58% |
Interest rate period | Monthly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Fee 1 | |
---|---|
Description | LACE (Loan Application & Credit Evaluation) Fee |
% of loan amount - min | 3.00% |
% of loan amount - max | 5.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | 5% for 1st cycle, 3% for multiple cycle loans |
Appears on Repayment Sched? | Yes |
Ins 1 | |
---|---|
Description | Annual Insurance Fee |
% of loan amount - min | 0.63% |
% of loan amount - max | 0.63% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | 0.625% per annum. |
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 | KES 9,999.92 | KES 19,999.98 | KES 48,000 | KES 99,999.92 | |||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
Disbursement Date | 2013-05-04 | 2013-05-03 | 2013-05-03 | 2013-06-20 | |||
Loan Term (Months) | 12.0 months | 5.7 months | 5.5 months | 12.0 months | |||
Grace Period (Months) | -0.3 months | -0.4 months | -0.6 months | -0.3 months | |||
Total Cost of Credit | KES 2,214.96 | KES 2,487.74 | KES 5,844 | KES 22,097.18 | |||
True Price by Comp | |||||||
Interest price component | 33.8% | 19.1% | 18.6% | 34.0% | |||
Fee Component | 6.3% | 6.9% | 7.0% | 6.3% | |||
Insurance Component | 1.4% | 1.5% | 1.5% | 1.3% | |||
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) | 41.5% | 27.5% | 27.1% | 41.6% | |||
Transparency Index | 46 | 69 | 70 | 46 | |||
Original Repayment Schedule | |||||||
MFT Pricing Calculation |
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