2. RAFODE
Please note that the information you are viewing is 142 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE
  2. VFS
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

Rural Agency for Development P.O. Box 28Kisumu, Nyanza
Data approved: 2013-06-20
Data version: 2
Age of data: 142 months
Choose version

Institution

Village Financial Services Private Limited Village TowerF-15, Geetanjali Park; 18/3A, Kumud Ghoshal RoadKolkata, West BengalPO Box 700057
Data approved: 2013-01-02
Data version: 2
Age of data: 140 months
Choose version

Product

Business Loan Product 1 of 2 « Prev | Next »

Product

Pragati Product 1 of 2 « Prev | Next »

Product Summary

Number borrowers2,912
Loan Amount (range)KES 3,000 - 78,000
Loan Term (range)6 - 18
Other Services (text summary)Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Business Training, Other Training, Home-based care training, HIV/AIDS counseling
Annual Interest & Method18.0%-36.0% annual, Flat
Fees1,000.00 upfront
Insurance400.00-0.00 ongoing
TaxNone
Comp Dep20.0% upfront 200.00 ongoing
Range of pricing 
Interest Price Component34.7% - 65.7%
Fee Component4.0% - 59.3%
Insurance Component5.4% - 18.8%
Tax Component Range0
Full APR (int fee ins tax dep)110.0% - 232.9%
Transparency Index (min/max)8 - 16
Transparency Index (average)11

Product Summary

168,352
INR 4,000 - 15,000
11.5 - 12.1
Group Mtgs, Credit Ins
23.5% annual, Decl Bal
1.00% upfront
1.00% upfront
12.36% fees
N/A
 
22.6% - 26.1%
1.0% - 2.2%
2.1% - 2.3%
0.1% - 0.3%
29.8% - 30.9%
76 - 90
76

Product Details

Key Statistics
Outstanding portfolio (KES)KES 29,500,723
Portfolio (USD)USD 356,288.93
Active Clients with Loans2,912
Approximate % Female Clients60% - 80%
Approximate % Urban Clients60% - 80%
Methodology
Individual
Solidarity groupx
Village banking
Self help group
Other
Description
Loan designed for groups of 5-25 individuals in a group, for both ongoing and start up businesses.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit educationx
Group meetingsx
Credit insurancex
Workplace visitsx
Business trainingx
Other trainingx
OtherHome-based care training
Other (2)HIV/AIDS counseling
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 institution3
# Regions for this product3
Regions ActiveNyanza, Rift Valley, Western

Product Details

Key Statistics
Outstanding portfolio (INR)INR 928,371,699.30
Portfolio (USD)USD 17,516,447.16
Active Clients with Loans168,352
Approximate % Female Clients80% - 100%
Approximate % Urban Clients0% - 20%
Methodology
Individual
Solidarity groupx
Village banking
Self help group
Other
Description
Pragati is a general group loan product, targeted at women engaged in income generating activities. It charges 23.6% annual interest rate on declining balance. Repayments are weekly.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit education
Group meetingsx
Credit insurancex
Workplace visits
Business training
Other training
Other
Other (2)
No other services
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 institution2
# Regions for this product2
Regions ActiveBihar, West Bengal

Loan Conditions

Loan Amount
CurrencyKES
Minimum loan sizeKES 3,000
Maximum loan size78,000
Distribution at Disbursement (Est.)
Loans less than KES 50,00070%
KES 50,000-150,00030%
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 term6.0 months
Longest loan term18.0 months
Approx average9.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months40%
Between 7 and 9 months30%
Between 10 and 12 months30%
Between 13 and 18 months0
Longer than 18 months0
Grace Period
Grace period usage100%
Average grace period0.3 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

Loan Conditions

Loan Amount
CurrencyINR
Minimum loan sizeINR 4,000
Maximum loan size15,000
Distribution at Disbursement (Est.)
Loans less than INR 5,0000
INR 5,000-15,000100%
INR 15,000-25,0000
INR 25,000-35,0000
INR 35,000-45,0000
Greater than INR 45,0000
Loan Term and Grace Period
Shortest loan term11.5 months
Longest loan term12.1 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 period1.5 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 interest18.00%
Highest quoted nominal interest36.00%
Reason(s) why interest rate variesNominal interest rate varies based on the loan term. Shorter term loans attract higher annual rates.
Interest rate periodYearly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionLoan Application Fee
% of loan amount - min0
% of loan amount - max0
OR, Fixed amount - min1,000
Fixed amount - max1,000
Reason for variationN/A
Appears on Repayment Sched?No
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
This product has no upfront insurance fees
Ongoing Insurance Fees
Ins 1
DescriptionInsurance Fee
% of loan amount - min0
% of loan amount - max3.00%
OR, Fixed amount - min400
Fixed amount - max0
Reason for variationFirst cycle loan pay 400 and multiple cycle loans pay 3%
Appears on Repayment Sched?No
Compulsory Deposit
Required forSome
CriteriaN/A
Is deposit indicated on the repayment schedule?Yes
Do borrowers control deposit in their group?No
Deposit BEFORE or AT Disbursement
% loan amount deposited20.00%
or, Fixed-amount deposited0
Deposits DURING period payments
% loan amount deposited0
or, Fixed-amount depositedKES 200
Conditions on access to depositAccess During
Interest Paid on Deposit
Minimum interest rate paid0
Maximum interest rate paid0
Interest payment frequencyN/A
Taxes
Are taxes charged on this product?No
Additional Comments
Compulsory deposit: Upfront deposit of 20% required on multiple cycle loans only. Continuing deposit of 200 KES required on all loans.

Pricing Information

Interest
Lowest quoted nominal interest23.46%
Highest quoted nominal interest23.46%
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?No
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionInsurance 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?No
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

Business Loan samples
Sample 1Sample 2Sample 3
Loan AmountKES 7,500KES 30,000KES 55,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot Known
Disbursement Date2013-07-152013-07-152013-07-15
Loan Term (Months)5.8 months9.0 months11.0 months
Grace Period (Months)0.2 months0.2 months0.2 months
Total Cost of CreditKES 2,744KES 7,299.64KES 12,538.24
True Price by Comp     
Interest price component65.7%45.3%34.7%
Fee Component59.3%9.6%4.0%
Insurance Component18.8%7.1%5.4%
Tax Component0.0%0.0%0.0%
Deposit Component89.1%95.5%65.9%
Full APR (int fee ins tax dep)232.9%157.5%110.0%
Transparency Index81116
      
Original Repayment SchedulePDFPDFPDF
MFT Pricing CalculationPDFPDFPDF

Full Pricing Data

Pragati samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountINR 5,000INR 5,000INR 10,000INR 11,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot Known
Disbursement Date2012-11-062012-11-162012-10-312012-11-02
Loan Term (Months)11.0 months11.0 months11.0 months11.0 months
Grace Period (Months)0.2 months0.2 months0.2 months0.2 months
Total Cost of CreditINR 731.18INR 731.18INR 1,462.36INR 1,608.60
True Price by Comp       
Interest price component25.1%26.1%26.1%26.1%
Fee Component2.2%2.2%2.2%2.2%
Insurance Component2.2%2.3%2.3%2.3%
Tax Component0.3%0.3%0.3%0.3%
Deposit Component0.0%0.0%0.0%0.0%
Full APR (int fee ins tax dep)29.8%30.9%30.9%30.9%
MFIN MFI Earning (Annualised)27.3%28.3%28.3%28.3%
MFIN Cost to Borrower (Annualised)29.8%30.9%30.9%30.9%
Transparency Index79767676
MFIN Transparency Index93909090
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF
* The APR stated here is an MFTransparency term, definition and formula
Business Loan Price Graphs


Click to view Price Analysis Tool
Pragati Price Graphs


Click to view Price Analysis Tool
Caps / Zoom options
Key Statistics
# 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
Filter table:
Country InstAbbrev SampleCode Loan Amount USD Loan Term (Months) SampClients FullAPR DateApproved
Loading...
X Axis
Greater than:
Less or equal to:
N (# of Samples)
Total Borrrowers of Samples
Avg
Min
Max
Std Dev
By Inst Type
By Country

Total Borrowers of Samples

X Axis
Greater than:
Less or equal to:
From 0 to
to
to
to ∞