Institution Type | Non Bank Financial Institution |
Is this institution regulated? | Yes |
Website address | http://www.smileltd.org |
Year established | 1995 |
Head of Institution | Mr. M. Sathiyamoorthi |
Regions active | Tamil Nadu, Puducherry |
# Branches | 151 |
Total Portfolio (nat'l) | INR 3,017,141,968 |
Total Portfolio (USD) | USD 56,927,206.94 |
Active clients with loans | 360,271 |
Approximate % female clients | 100% |
Approximate % urban clients | 40% - 60% |
Network affiliations | Sa-Dhan, MFIN |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Micro Loan (IGP) | INR 5,000 - 30,000 | 6 - 24 | 100% | 40% - 60% | Business | Women, Specific age group, Low HH Inc, Med HH Inc, Rural HH, Urban HH | 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 | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Micro Loan (IGP) | 25.2% - 26% | 26.8% - 27.9% | 28.7% - 30.9% | Yes | Yes | Info awaited | 100 |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Micro Loan (IGP) | 26.0% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 26.8% - 27.9% | 28.7% - 30.9% | 88 |
Outstanding portfolio (COP) | COP 18,873,499,724 |
Portfolio (USD) | USD 10,370,054.79 |
Active Clients with Loans | 2,293 |
Approximate % Female Clients | 40% - 60% |
Approximate % Urban Clients | 80% - 100% |
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other |
Any purpose | |
Income generation | |
Mortgage/housing | x |
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 | x |
Must be specific age group | |
Other | Tener ahorro programado 10% valor de la vivienda- con esto of property |
Other (2) |
# Regions for this institution | N/A |
# Regions for this product | N/A |
Regions Active |
Currency | COP |
Minimum loan size | COP 1,606,800 |
Maximum loan size | 21,424,000 |
Shortest loan term | 12.0 months |
Longest loan term | 180.0 months |
Approx average | 120.0 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 | 1.17% |
Highest quoted nominal interest | 1.17% |
Interest rate period | Monthly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | |
Is rate fixed for entire loan term | Yes |
Ins 1 | |
---|---|
Description | Seguro de Vida |
% of loan amount - min | 4.00% |
% of loan amount - max | 4.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | Yes |
Ins 1 | |
---|---|
Description | Seguros de Incendio |
% of loan amount - min | 17.00% |
% of loan amount - max | 23.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
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 | |||
---|---|---|---|---|---|
Loan Amount | COP 3,552,000 | COP 6,432,000 | COP 13,000,000 | ||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
Disbursement Date | 2011-02-23 | 2011-02-23 | 2011-03-30 | ||
Loan Term (Months) | 48.0 months | 96.0 months | 120.0 months | ||
Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | ||
Total Cost of Credit | Not Known | Not Known | Not Known | ||
True Price by Comp | |||||
Interest and Fee Component | 15.1% | 15.3% | 15.3% | ||
Insurance Component | 3.0% | 2.3% | 2.0% | ||
Tax Component | 0.0% | 0.0% | 0.0% | ||
Deposit Component | 0.0% | 0.0% | 0.0% | ||
Full APR (int fee ins tax dep) | 18.1% | 17.5% | 17.4% | ||
Transparency Index | 78 | 80 | 81 | ||
Original Repayment Schedule | |||||
MFT Pricing Calculation |
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% Products with one or more insurances | |
% Products with compulsory deposits |
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