Outstanding portfolio (KES) | KES 383,487,427 |
Portfolio (USD) | USD 4,631,490.66 |
Active Clients with Loans | 11,801 |
Approximate % Female Clients | 40% - 60% |
Approximate % Urban Clients | 40% - 60% |
Individual | x |
Solidarity group | x |
Village banking | |
Self help group | |
Other |
Any purpose | x |
Income generation | |
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 | |
Other (2) |
# Regions for this institution | 7 |
# Regions for this product | 7 |
Regions Active | Central, Coast, Eastern, Nairobi, Nyanza, Rift Valley, Western |
Currency | KES |
Minimum loan size | KES 3,000 |
Maximum loan size | 3,000,000 |
Loans less than KES 50,000 | 30% |
KES 50,000-150,000 | 40% |
KES 150,000-250,000 | 15% |
KES 250,000-350,000 | 10% |
KES 350,000-450,000 | 5% |
Greater than KES 450,000 | 5% |
Shortest loan term | 3.0 months |
Longest loan term | 24.0 months |
Approx average | 6.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 30% |
Between 7 and 9 months | 30% |
Between 10 and 12 months | 30% |
Between 13 and 18 months | 5% |
Longer than 18 months | 5% |
Grace period usage | 100% |
Average grace period | 1.0 month |
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 | 22.00% |
Reason(s) why interest rate varies | Time as Client |
Interest rate period | Yearly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Fee 1 | |
---|---|
Description | Loan Application Fee |
% of loan amount - min | 3.00% |
% of loan amount - max | 3.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | Yes |
Ins 1 | |
---|---|
Description | Annual Loan Protection Fee |
% of loan amount - min | 1.20% |
% of loan amount - max | 1.20% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | Yes |
Required for | All |
Criteria | Upfront: Sol group loans =20%. Individual loans =30%. |
Is deposit indicated on the repayment schedule? | Yes |
Do borrowers control deposit in their group? | Yes |
% loan amount deposited | 20.00% - 30.00% |
or, Fixed-amount deposited | 0 |
% loan amount deposited | 0 |
or, Fixed-amount deposited | KES 400 |
Conditions on access to deposit | End Term |
Minimum interest rate paid | 0 |
Maximum interest rate paid | 0 |
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 10,000 | KES 30,000 | KES 52,000 | KES 106,000 | KES 500,000 | ||||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | ||||
Disbursement Date | 2013-04-11 | 2013-05-14 | 2013-06-10 | 2013-06-10 | 2013-04-26 | ||||
Loan Term (Months) | 6.0 months | 6.0 months | 12.0 months | 18.0 months | 24.0 months | ||||
Grace Period (Months) | 0.1 months | -0.1 months | 0.0 months | 0.1 months | 0.1 months | ||||
Total Cost of Credit | KES 1,520 | KES 4,560 | KES 11,544 | KES 35,139 | KES 246,999.67 | ||||
True Price by Comp | |||||||||
Interest price component | 35.3% | 36.7% | 31.0% | 31.6% | 36.9% | ||||
Fee Component | 10.5% | 10.9% | 5.8% | 4.1% | 3.3% | ||||
Insurance Component | 4.3% | 4.5% | 2.4% | 3.4% | 2.7% | ||||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||||
Deposit Component | 41.0% | 31.8% | 24.6% | 21.7% | 19.3% | ||||
Full APR (int fee ins tax dep) | 91.1% | 83.9% | 63.8% | 60.8% | 62.2% | ||||
Transparency Index | 20 | 21 | 28 | 30 | 29 | ||||
Original Repayment Schedule | |||||||||
MFT Pricing Calculation |
Institution Type | Non Bank Financial Institution |
Is this institution regulated? | Yes |
Website address | http://www.gfspl.in/ |
Year established | 1999 |
Head of Institution | Suresh K. Krishna |
Regions active | Karnataka, Maharashtra, Tamil Nadu |
# Branches | 161 |
Total Portfolio (nat'l) | INR 5,238,988,264 |
Total Portfolio (USD) | USD 98,848,835.17 |
Active clients with loans | 592,113 |
Approximate % female clients | 80% - 100% |
Approximate % urban clients | 20% - 40% |
Network affiliations | Sa-dhan, AKMI, MFIN |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Emergency Loan | INR 1,000 - 1,000 | 2.56 - 2.79 | 100% | 20% - 40% | Any Purpose | Women, Low HH Inc, Med HH Inc, Member should have running IGL Pragati or IGL Pragati Plus or Water or Sanitation loan | Credit Educ, Group Mtgs, Jagruthi- Client Education Series, Socio-Economic Development Workshop | |||||||
Water Connection Loan | INR 5,000 - 5,000 | 12.1 - 24.19 | 100% | 20% - 40% | Housing, For taking water connection | Women, Have home or land, Low HH Inc, Med HH Inc | Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Jagruthi- Client Education Series, Socio-Economic Development Workshop | |||||||
IGL-Pragati | INR 5,000 - 15,000 | 12 | 80% - 100% | 0% - 20% | Business | Women | ||||||||
IGL-Pragati Plus | INR 15,000 - 25,000 | 24 - 24.19 | 100% | 20% - 40% | Business | Women, Low HH Inc, Med HH Inc | Credit Educ, Group Mtgs, Credit Ins, Jagruthi- Client Education Series, Socio-Economic Development Workshop | |||||||
Sanitation Loan | INR 7,000 - 10,000 | 24 - 24.19 | 100% | 20% - 40% | Housing, For construction of toilets | Women, Low HH Inc, Med HH Inc, Proof of ownership of the house where sanitation structure is to be erected must be provided. House ownership can be in the name of member or spouse or member's father/mother/father-in-law/mother-in-law. | Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Jagruthi- Client Education Series, Socio-Economic Development Workshop | |||||||
Water Loan-PureIT | INR 2,950 - 2,950 | 12 - 12.1 | 100% | 20% - 40% | Consumer, To Purchase Water Purifier | Women, Low HH Inc, Med HH Inc | Credit Educ, Group Mtgs, Credit Ins, Jagruthi- Client Education Series, Socio-Economic Development Workshop | |||||||
Grameen Niwas | INR 1,000 - 25,000 | 24.19 - 48.37 | 100% | 20% - 40% | Housing | Women, Have home or land, Low HH Inc, Med HH Inc, All active members applying for this loan should have successfully completed 2 loan cycles of IGL Pragati/Pragati Plus loan. | Credit Educ, Group Mtgs, Credit Ins, Jagruthi- Client Education Series, Socio-Economic Development Workshop | |||||||
GGI Cook Stove Loan | INR 1,250 - 1,250 | 5.6 | 100% | 20% - 40% | Consumer | Women, Low HH Inc, Med HH Inc | Credit Educ, Group Mtgs, Jagruthi- Client Education Series, Socio-Economic Development Workshop | |||||||
Swavalamban Loan | INR 1,000 - 1,000 | 2.56 - 2.79 | 100% | 20% - 40% | For Pension fund Investment for future saving | Women, Low HH Inc, Med HH Inc, Member must have running IGL Pragati/ Pragati Plus / Water or Sanitation loans | Credit Educ, Group Mtgs, Jagruthi- Client Education Series, Socio-Economic Development Workshop | |||||||
Education Loan | INR 5,000 - 5,000 | 11.63 - 12.1 | 100% | 20% - 40% | Education | Women, Low HH Inc, Med HH Inc, The member must have availed IGL-Pragati at least once.New members eligible after 6 months from the date of becoming the member | Credit Educ, Group Mtgs, Credit Ins, Jagruthi- Client Education Series, Socio-Economic Development Workshop | |||||||
Medical Loan | INR 500 - 2,000 | 5.58 - 5.6 | 100% | 0% - 20% | Other, For meeting medical expenses | Women, Low HH Inc, Med HH Inc | Credit Educ, Group Mtgs, Credit Ins, Jagruthi- Client Education Series, Socio-Economic Development Workshop | |||||||
Festival Loan | INR 2,000 - 2,000 | 5.6 | 100% | 20% - 40% | Consumer, Other, To meet the expenses of the festival | Women, Low HH Inc, Med HH Inc | Credit Educ, Group Mtgs, Credit Ins, Jagruthi- Client Education Series, Socio-Economic Development Workshop | |||||||
Pragati Supplement | INR 5,000 - 5,000 | 5.58 | 100% | 40% - 60% | Business | Women, Low HH Inc, Med HH Inc, This loan can be availed after 25 weeks of prompt repayment of Pragati/Pragati plus loan installments and should have at least 12 weeks of remaining repayment period, IGL-Pragati/Pragati Plus borrowers | Credit Educ, Group Mtgs, Credit Ins, Jagruthi- Client Education Series, Socio-Economic Development Workshop | |||||||
Arogya Loan | INR 500 - 1,000 | 2.56 - 2.79 | 100% | 20% - 40% | Other | Women, Low HH Inc, Med HH Inc, Member must have running IGL Pragati/ Pragati Plus / Water or Sanitation loans., The member who opts for healthcare services under SNDPAP scheme is eligible for the loan. | Credit Educ, Group Mtgs, Jagruthi- Client Education Series, Socio-Economic Development Workshop |
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 | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Emergency Loan | 24.5% - 34% | 32.9% - 45.6% | 33.9% - 47.1% | Yes | Yes | NA | 89 | |||||||
Water Connection Loan | 22.1% | 24.2% | 27.6% | Yes | Yes | Yes | 100 | |||||||
IGL-Pragati | 26% - 26.1% | 28% - 28.2% | 36.4% - 45.1% | Yes | Yes | Yes | 100 | |||||||
IGL-Pragati Plus | 26% | 27.1% | 31.5% | Yes | Yes | Yes | 100 | |||||||
Sanitation Loan | 22% | 23.1% | 26.6% | Yes | Yes | Yes | 100 | |||||||
Water Loan-PureIT | 24% | 26.1% | 27.4% | Yes | Yes | Yes | 100 | |||||||
Grameen Niwas | 21.8% - 22% | 22.9% - 23.1% | 24% - 24.3% | Yes | Yes | Yes | 100 | |||||||
GGI Cook Stove Loan | 24.2% | 28.3% | 28.9% | Yes | Yes | NA | 99 | |||||||
Swavalamban Loan | 24.5% | 32.9% | 33.9% | Yes | Yes | NA | 98 | |||||||
Education Loan | 22.1% | 24.2% | 27.6% | Yes | Yes | Yes | 100 | |||||||
Medical Loan | 22.2% | 26.4% | 33.4% | Yes | Yes | Yes | 99 | |||||||
Festival Loan | 22.2% | 26.4% | 33.4% | Yes | Yes | Yes | 99 | |||||||
Pragati Supplement | 26% | 30.1% | 37.1% | Yes | Yes | Yes | 100 | |||||||
Arogya Loan | 22.6% - 22.9% | 30.9% - 31.1% | 31.9% - 32.1% | Yes | Yes | NA | 97 |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Emergency Loan | 24.0% annual, Decl Bal | 1 Fee | 0 Ins | 12.36% fees | N/A | 32.9% - 45.6% | 33.9% - 47.1% | 64 | ||||||||
Water Connection Loan | 22.0% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 24.2% | 27.6% | 80 | ||||||||
IGL-Pragati | 26.0% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 28% - 28.2% | 36.4% - 45.1% | 64 | ||||||||
IGL-Pragati Plus | 26.0% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 27.1% | 31.5% | 83 | ||||||||
Sanitation Loan | 22.0% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 23.1% | 26.6% | 83 | ||||||||
Water Loan-PureIT | 24.0% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 26.1% | 27.4% | 87 | ||||||||
Grameen Niwas | 22.0% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 22.9% - 23.1% | 24% - 24.3% | 91 | ||||||||
GGI Cook Stove Loan | 24.0% annual, Decl Bal | 1 Fee | 0 Ins | 12.36% fees | N/A | 28.3% | 28.9% | 83 | ||||||||
Swavalamban Loan | 24.0% annual, Decl Bal | 1 Fee | 0 Ins | 12.36% fees | N/A | 32.9% | 33.9% | 71 | ||||||||
Education Loan | 22.0% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 24.2% | 27.6% | 80 | ||||||||
Medical Loan | 22.0% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 26.4% | 33.4% | 66 | ||||||||
Festival Loan | 22.0% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 26.4% | 33.4% | 66 | ||||||||
Pragati Supplement | 26.0% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 30.1% | 37.1% | 70 | ||||||||
Arogya Loan | 22.0% annual, Decl Bal | 1 Fee | 0 Ins | 12.36% fees | N/A | 30.9% - 31.1% | 31.9% - 32.1% | 69 |
Key Statistics | |
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# Samples: | |
# Products | |
# Institutions | |
# 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 |
Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
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