2. BIMAS
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  2. MFL
Please note that the information you are viewing is 140 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Business Initiative and Management Assistance Services P.O. Box 2299 60100Embu, Central
Data approved: 2013-07-16
Data version: 2
Age of data: 142 months
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Institution

Muthoot Fincorp Ltd 5th Floor, Muthoot TowersMG RoadErnakulam, KeralaPO Box 682035
Data approved: 2013-01-18
Data version: 1
Age of data: 140 months

Product

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Product

Muthoot Mahila Mitra Product 1 of 1 « Prev | Next »

Product Summary

Number borrowers176
Loan Amount (range)KES 50,000 - 100,000
Loan Term (range)9 - 12
Other Services (text summary)Credit Educ, Group Mtgs, Credit Ins, Business Training, Other Training
Annual Interest & Method22.0% annual, Flat
Fees2.00% upfront
Insurance2.50% upfront
TaxNone
Comp Dep25.0% upfront 100.00 ongoing
Range of pricing 
Interest Price Component13.7% - 40.7%
Fee Component0 - 10.7%
Insurance Component0 - 9.3%
Tax Component Range0
Full APR (int fee ins tax dep)86.3% - 96.4%
Transparency Index (min/max)14 - 61
Transparency Index (average)24

Product Summary

331,892
INR 10,000 - 20,000
12
26.0% annual, Decl Bal
1.00% upfront
0.40% upfront
12.36% fees
N/A
 
25.8% - 26.6%
1.1% - 2.1%
0.4% - 0.8%
0.2% - 0.3%
27.5% - 29.8%
87 - 95
90

Product Details

Key Statistics
Outstanding portfolio (KES)KES 6,247,245
Portfolio (USD)USD 75,449.82
Active Clients with Loans176
Approximate % Female Clients40% - 60%
Approximate % Urban Clients40% - 60%
Methodology
Individual
Solidarity groupx
Village banking
Self help group
Other
Description
This is an agribusiness loan primarily for dairy farmers.
Loan Purpose
Any purpose
Income generation
Mortgage/housing
Consumer loan
Agriculturex
Education
Other household finance
Other
Other (2)
Included Services
Credit educationx
Group meetingsx
Credit insurancex
Workplace visits
Business trainingx
Other trainingx
Other
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a businessx
Must own a home or land
Must be a salaried worker
Must be specific age group
Other
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution4
# Regions for this product4
Regions ActiveCentral, Eastern, Nairobi, Rift Valley

Product Details

Key Statistics
Outstanding portfolio (INR)INR 2,601,408,238
Portfolio (USD)USD 49,083,174.30
Active Clients with Loans331,892
Approximate % Female Clients100%
Approximate % Urban Clients0% - 20%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
Muthoot Mahila Mitra loan follows the Joint Liability Group (JLG) model. Loan amount ranges from Rs.10,000 to 20,000 with a loan tenure ranging from 52 to 104 weeks.The pricing norms are in line with RBI. Target group is economically active women.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit education
Group meetings
Credit insurance
Workplace visits
Business training
Other training
Other
Other (2)
No other servicesx
Eligibility
Men
Womenx
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)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution4
# Regions for this product4
Regions ActiveGujarat, Karnataka, Kerala, Tamil Nadu

Loan Conditions

Loan Amount
CurrencyKES
Minimum loan sizeKES 50,000
Maximum loan size100,000
Distribution at Disbursement (Est.)
Loans less than KES 50,00020%
KES 50,000-150,00080%
KES 150,000-250,0000
KES 250,000-350,0000
KES 350,000-450,0000
Greater than KES 450,0000
Loan Term and Grace Period
Shortest loan term9.0 months
Longest loan term12.0 months
Approx average12.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months0
Between 7 and 9 months50%
Between 10 and 12 months50%
Between 13 and 18 months0
Longer than 18 months0
Grace Period
Grace period usage10%
Average grace period0.3 months
Repayment Frequency
Daily
Weeklyx
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Loan Conditions

Loan Amount
CurrencyINR
Minimum loan sizeINR 10,000
Maximum loan size20,000
Distribution at Disbursement (Est.)
Loans less than INR 5,0000
INR 5,000-15,00090%
INR 15,000-25,00010%
INR 25,000-35,0000
INR 35,000-45,0000
Greater than INR 45,0000
Loan Term and Grace Period
Shortest loan term12.0 months
Longest loan term12.0 months
Approx average12.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months0
Between 7 and 9 months0
Between 10 and 12 months100%
Between 13 and 18 months0
Longer than 18 months0
Grace Period
Grace period usage100%
Average grace period12.0 months
Repayment Frequency
Daily
Weeklyx
Every 2 weeks
Every 4 weeks
Monthly
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest
Lowest quoted nominal interest22.00%
Highest quoted nominal interest22.00%
Interest rate periodYearly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionApplication Fee
% of loan amount - min2.00%
% of loan amount - max2.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?No
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionInsurance Fee
% of loan amount - min2.50%
% of loan amount - max2.50%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?No
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forAll
CriteriaN/A
Is deposit indicated on the repayment schedule?Yes
Do borrowers control deposit in their group?Yes
Deposit BEFORE or AT Disbursement
% loan amount deposited25.00%
or, Fixed-amount deposited0
Deposits DURING period payments
% loan amount deposited0
or, Fixed-amount depositedKES 100
Conditions on access to depositEnd Term
Interest Paid on Deposit
Minimum interest rate paid0.33%
Maximum interest rate paid0.50%
Interest payment frequencyAnnually
Taxes
Are taxes charged on this product?No

Pricing Information

Interest
Lowest quoted nominal interest26.00%
Highest quoted nominal interest26.00%
Interest rate periodYearly
Interest Rate Calculation MethodDecl Bal
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionProcessing Fee
% of loan amount - min1.00%
% of loan amount - max1.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?Yes
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionCredit Life Insurance
% of loan amount - min0.40%
% of loan amount - max0.40%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?Yes
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forNever
CriteriaN/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 depositedN/A
or, Fixed-amount depositedN/A
Deposits DURING period payments
% loan amount depositedN/A
or, Fixed-amount depositedN/A
Conditions on access to depositN/A
Interest Paid on Deposit
Minimum interest rate paidN/A
Maximum interest rate paidN/A
Interest payment frequencyN/A
Taxes
Are taxes charged on this product?Yes
Percentage of fees12.4%
All or some fees taxedSome

Full Pricing Data

Mifugo Loan samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountKES 50,000KES 50,000KES 80,000KES 80,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot Known
Disbursement Date2013-04-232013-01-312013-06-272013-06-17
Loan Term (Months)10.0 months6.0 months12.0 months12.0 months
Grace Period (Months)0.5 months0.5 months0.5 months0.5 months
Total Cost of CreditKES 11,050KES 7,750KES 21,200KES 21,200
True Price by Comp       
Interest price component38.4%36.7%38.8%38.8%
Fee Component4.9%7.3%4.1%4.1%
Insurance Component6.4%9.3%5.2%5.2%
Tax Component0.0%0.0%0.0%0.0%
Deposit Component42.3%43.1%38.2%38.2%
Full APR (int fee ins tax dep)92.0%96.4%86.3%86.3%
Transparency Index24232525
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF

Full Pricing Data

Muthoot Mahila Mitra samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountINR 10,000INR 12,000INR 15,000INR 20,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot Known
Disbursement Date2012-06-222012-11-102012-08-252012-10-22
Loan Term (Months)12.0 months12.0 months12.0 months24.0 months
Grace Period (Months)-0.1 months0.1 months0.1 months0.1 months
Total Cost of CreditINR 1,540.36INR 1,858.83INR 2,336.54INR 5,992.72
True Price by Comp       
Interest price component26.6%26.0%26.2%25.8%
Fee Component2.1%2.1%2.0%1.1%
Insurance Component0.8%0.8%0.8%0.4%
Tax Component0.3%0.2%0.3%0.2%
Deposit Component0.0%0.0%0.0%0.0%
Full APR (int fee ins tax dep)29.8%29.1%29.3%27.5%
MFIN MFI Earning (Annualised)28.7%28.1%28.2%26.9%
MFIN Cost to Borrower (Annualised)29.8%29.1%29.3%27.5%
Transparency Index87898995
MFIN Transparency Index9810099100
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF
* The APR stated here is an MFTransparency term, definition and formula
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# Countries
# Borrowers
Loan Portfolio (USD)
% Products using declining balance
% Products with one or more fee
% Products with one or more insurances
% Products with compulsory deposits
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