| Outstanding portfolio (KES) | KES 58,938,425 |
| Portfolio (USD) | USD 711,816.73 |
| Active Clients with Loans | 339 |
| Approximate % Female Clients | 20% - 40% |
| Approximate % Urban Clients | 40% - 60% |
| 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 | |
| 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 | x |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | |
| Other | Operated the business for over a year |
| Other (2) | Active account for over 6 mos with Equity or other bank |
| # Regions for this institution | 8 |
| # Regions for this product | 7 |
| Regions Active | Central, Coast, Eastern, Nairobi, Nyanza, Rift Valley, Western |
| Currency | KES |
| Minimum loan size | KES 300,000 |
| Maximum loan size | 4,000,000,000 |
| Loans less than KES 50,000 | 0 |
| KES 50,000-150,000 | 0 |
| KES 150,000-250,000 | 0 |
| KES 250,000-350,000 | 5% |
| KES 350,000-450,000 | 50% |
| Greater than KES 450,000 | 50% |
| Shortest loan term | 1.0 month |
| Longest loan term | 60.0 months |
| Approx average | 18.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 0 |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 5% |
| Between 13 and 18 months | 15% |
| Longer than 18 months | 80% |
| 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 | 18.00% |
| Highest quoted nominal interest | 20.00% |
| Reason(s) why interest rate varies | Loan Size, Client Risk |
| Interest rate period | Yearly |
| 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? | No |
| 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 | |||
|---|---|---|---|---|---|
| Loan Amount | KES 310,000 | KES 400,000 | KES 500,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2013-05-28 | 2013-05-31 | 2013-05-17 | ||
| Loan Term (Months) | 12.0 months | 12.0 months | 36.0 months | ||
| Grace Period (Months) | 0.3 months | 0.2 months | 0.0 months | ||
| Total Cost of Credit | KES 42,798.16 | KES 59,223.56 | KES 181,536.95 | ||
| True Price by Comp | |||||
| Interest price component | 19.0% | 19.3% | 19.8% | ||
| Fee Component | 3.7% | 5.7% | 1.5% | ||
| Insurance Component | 1.2% | 1.2% | 0.5% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 0.0% | 0.0% | 0.0% | ||
| Full APR (int fee ins tax dep) | 23.9% | 26.2% | 21.8% | ||
| Transparency Index | 75 | 69 | 83 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| Institution Type | Non Bank Financial Institution |
| Is this institution regulated? | Yes |
| Website address | http://www.sksindia.com/ |
| Year established | 1997 |
| Head of Institution | MR. Rao |
| Regions active | Andhra Pradesh, Bihar, Chhattisgarh, Gujarat, HaryanaJharkhand, Karnataka, Kerala, Madhya Pradesh, Maharashtra, OrissaPunjab, Rajasthan, Tamil Nadu, Uttar Pradesh, Uttarakhand, West Bengal |
| # Branches | 1238 |
| Total Portfolio (nat'l) | INR 18,872,236,695 |
| Total Portfolio (USD) | USD 356,079,937.60 |
| Active clients with loans | 4,172,370 |
| Approximate % female clients | 100% |
| Approximate % urban clients | 20% - 40% |
| Network affiliations |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Generating Loan | INR 2,000 - 14,000 | 11.5 | 100% | 20% - 40% | Business | Women, Low HH Inc, Med HH Inc, Rural HH, Urban HH | Group Mtgs, Credit Ins, Other Training, Building Leadership and Promoting Members Cooperation. | |||||||
| Mid Term Loan | INR 2,000 - 14,000 | 11.5 | 100% | 20% - 40% | Business | Women, Low HH Inc, Med HH Inc, Rural HH, Urban HH | Group Mtgs, Credit Ins, Other 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Generating Loan | 24.6% | 26.4% | 27.8% | Yes | Yes | Yes | 100 | |||||||
| Mid Term Loan | 24.6% | 26.4% | 27.8% | Yes | Yes | Yes | 100 |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Generating Loan | 24.6% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 26.4% | 27.8% | 88 | ||||||||
| Mid Term Loan | 24.6% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 26.4% | 27.8% | 88 |
| Key Statistics | |
|---|---|
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| # Borrowers | |
| Loan Portfolio (USD) | |
| % Products using declining balance | |
| % Products with one or more fee | |
| % Products with one or more insurances | |
| % Products with compulsory deposits |
| Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
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