Institution Type | Non Bank Financial Institution |
Is this institution regulated? | Yes |
Website address | http://www.adhikarindia.in |
Year established | 1998 |
Head of Institution | Mr. Mohammad Nooruddin Amin |
Regions active | Gujarat, Orissa |
# Branches | 45 |
Total Portfolio (nat'l) | INR 141,753,084 |
Total Portfolio (USD) | USD 2,674,586.49 |
Active clients with loans | 35,358 |
Approximate % female clients | 100% |
Approximate % urban clients | 20% - 40% |
Network affiliations | Sa-Dhan, MFIN |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGL | INR 7,000 - 15,000 | 12 | 100% | 20% - 40% | Business | Women, Specific age group, Low HH Inc, Med HH Inc | Group Mtgs, Credit Ins, 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 | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGL | 26% | 28% | 29.3% | Yes | Yes | Yes | 100 |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGL | 26.0% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 28% | 29.3% | 89 |
Outstanding portfolio (KES) | KES 85,485,991 |
Portfolio (USD) | USD 1,032,439.51 |
Active Clients with Loans | 418 |
Approximate % Female Clients | 20% - 40% |
Approximate % Urban Clients | 0% - 20% |
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other |
Any purpose | |
Income generation | |
Mortgage/housing | |
Consumer loan | |
Agriculture | x |
Education | |
Other household finance | |
Other | Purchase of farm inputs and farm machinery. |
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 commercial farming for over a year |
Other (2) | Active account with Equity |
# 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 100,000 |
Maximum loan size | 4,000,000,000 |
Loans less than KES 50,000 | 0 |
KES 50,000-150,000 | 5% |
KES 150,000-250,000 | 30% |
KES 250,000-350,000 | 40% |
KES 350,000-450,000 | 20% |
Greater than KES 450,000 | 20% |
Shortest loan term | 1.0 month |
Longest loan term | 36.0 months |
Approx average | 18.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 10% |
Between 7 and 9 months | 20% |
Between 10 and 12 months | 20% |
Between 13 and 18 months | 20% |
Longer than 18 months | 30% |
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 | 1.50% |
Highest quoted nominal interest | 1.50% |
Interest rate period | Monthly |
Interest Rate Calculation Method | Decl Bal |
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 | 2.00% |
% of loan amount - max | 3.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | 3% for 1st cycle, 2% 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 | Sample 5 | |||||
---|---|---|---|---|---|---|---|---|---|
Loan Amount | KES 100,000 | KES 180,000 | KES 300,000 | KES 400,000 | KES 500,000 | ||||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | ||||
Disbursement Date | 2013-05-30 | 2013-05-29 | 2013-05-15 | 2013-05-17 | 2013-05-16 | ||||
Loan Term (Months) | 4.9 months | 12.0 months | 37.0 months | 36.0 months | 37.0 months | ||||
Grace Period (Months) | -0.1 months | -0.1 months | 0.0 months | -0.2 months | 0.0 months | ||||
Total Cost of Credit | KES 10,699.38 | KES 24,351.19 | KES 109,241.38 | KES 142,970.67 | KES 181,590.01 | ||||
True Price by Comp | |||||||||
Interest price component | 19.7% | 19.8% | 19.8% | 19.8% | 19.8% | ||||
Fee Component | 5.2% | 3.9% | 1.5% | 1.5% | 1.5% | ||||
Insurance Component | 1.6% | 1.2% | 0.4% | 0.5% | 0.4% | ||||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||||
Deposit Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||||
Full APR (int fee ins tax dep) | 26.5% | 24.9% | 21.7% | 21.8% | 21.7% | ||||
Transparency Index | 68 | 72 | 83 | 83 | 83 | ||||
Original Repayment Schedule | |||||||||
MFT Pricing Calculation |
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% Products with compulsory deposits |
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