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Institution
Data approved: 2012-11-22
Data version: 2
Age of data: 140 months
Key Statistics
| Outstanding portfolio (INR) | INR 377,601,000 |
| Portfolio (USD) | USD 7,124,547.17 |
| Active Clients with Loans | 37,941 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 80% - 100% |
Methodology
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other | |
Description
Saral Monthly loan is provided to economically active women residing in slums or low income areas and involved in trade and service activities. The loan ranges between Rs. 5000 to Rs. 15000.
Loan Purpose
| Any purpose | x |
| Income generation | |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) | |
Included Services
| Credit education | x |
| Group meetings | x |
| Credit insurance | x |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | |
| Other (2) | |
| No other services | |
Eligibility
| Men | |
| Women | x |
| Must run a business | |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | |
| Household income <60,000 INR | |
| Household income <120,000 INR | |
| Must live in rural area | |
| Must lives in urban area | |
| Other | |
| Other (2) | |
Portfolio Size by Product
Geographic Coverage
| # Regions for this institution | 3 |
| # Regions for this product | 3 |
| Regions Active | Assam, Bihar, West Bengal |
Loan Conditions
Loan Amount
| Currency | INR |
| Minimum loan size | INR 5,000 |
| Maximum loan size | 15,000 |
Distribution at Disbursement (Est.)
| Loans less than INR 5,000 | 0 |
| INR 5,000-15,000 | 100% |
| INR 15,000-25,000 | 0 |
| INR 25,000-35,000 | 0 |
| INR 35,000-45,000 | 0 |
| Greater than INR 45,000 | 0 |
Loan Term and Grace Period
| Shortest loan term | 15.0 months |
| Longest loan term | 15.0 months |
| Approx average | DK |
Distribution at Disbursement (Est.)
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 0 |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 0 |
| Between 13 and 18 months | 100% |
| Longer than 18 months | 0 |
Grace Period
| Grace period usage | 0 |
| Average grace period | DK |
Repayment Frequency
| 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 | |
Pricing Information
Interest
| Lowest quoted nominal interest | 28.40% |
| Highest quoted nominal interest | 28.40% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 |
|---|
| Description | Processing Fee |
| % of loan amount - min | 1.00% |
| % of loan amount - max | 1.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | No |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 |
|---|
| Description | Credit Insurance |
| % of loan amount - min | 0.73% |
| % of loan amount - max | 0.74% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | No |
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
| Required for | Never |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | N/A |
| Do borrowers control deposit in their group? | N/A |
Deposit BEFORE or AT Disbursement
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
Deposits DURING period payments
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| Conditions on access to deposit | N/A |
Interest Paid on Deposit
| Minimum interest rate paid | N/A |
| Maximum interest rate paid | N/A |
| Interest payment frequency | N/A |
Taxes
| Are taxes charged on this product? | Yes |
| Percentage of fees | 12.4% |
| All or some fees taxed | Some |
Additional Comments
Arohan displays Annual Percent Rates in the passbook. APR as mentioned for the product is 29.8%
Full Pricing Data
Saral Monthly samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 |
|---|
| Loan Amount | INR 5,000 | | INR 5,000 | | INR 10,000 | | INR 10,000 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2012-10-27 | | 2012-10-06 | | 2012-10-28 | | 2012-10-27 |
| Loan Term (Months) | 15.0 months | | 15.0 months | | 16.0 months | | 15.0 months |
| Grace Period (Months) | -0.7 months | | 0.0 months | | 0.4 months | | -0.7 months |
| Total Cost of Credit | INR 1,092.68 | | INR 997.19 | | INR 2,185.36 | | INR 1,985.36 |
| True Price by Comp | | | | | | | |
| Interest price component | 31.1% | | 26.0% | | 26.8% | | 28.5% |
| Fee Component | 1.8% | | 1.6% | | 1.6% | | 1.7% |
| Insurance Component | 1.3% | | 1.2% | | 1.1% | | 1.4% |
| Tax Component | 0.2% | | 0.3% | | 0.2% | | 0.2% |
| Deposit Component | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Full APR (int fee ins tax dep) | 34.4% | | 29.1% | | 29.7% | | 31.8% |
| MFIN MFI Earning (Annualised) | 32.9% | | 27.6% | | 28.4% | | 30.2% |
| MFIN Cost to Borrower (Annualised) | 34.4% | | 29.1% | | 29.7% | | 31.8% |
| Transparency Index | 83 | | 98 | | 96 | | 89 |
| MFIN Transparency Index | 91 | | 100 | | 100 | | 100 |
| | | | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF |
* The APR stated here is an MFTransparency term, definition and formula
Saral Monthly Price Graphs
