2. FINCOOP
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  2. BSFL
Please note that the information you are viewing is 139 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Finance Savings and Credit Cooperative MUSCCO HouseLilongwePO Box 1292
Data approved: 2013-01-04
Data version: 2
Age of data: 143 months
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Institution

Bhartiya Samruddhi Finance Limited 3rd Floor, Surabhi Arcade,Troop Bazar, Bank Street, KotiHyderabad, Andhra PradeshPO Box 500 001
Data approved: 2013-01-25
Data version: 2
Age of data: 139 months
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Product

Payroll Loan Product 7 of 7 « Prev | Next »

Product

Samruddhi Agri Allied Loan Product 1 of 3 « Prev | Next »

Product Summary

Number borrowers562
Loan Amount (range)MWK 5,000 - 1,500,000
Loan Term (range)3 - 12
Other Services (text summary)Credit Educ
Annual Interest & Method38.00% annual, Flat
Fees3.00% upfront
Insurance2.00% upfront
TaxNone
Comp Dep50.00% upfront
Range of pricing 
Interest Price Component54.5% - 72.2%
Fee Component5.6% - 18.8%
Insurance Component3.9% - 12.9%
Tax Component Range0
Full APR (int fee ins tax dep)223.1% - 291.3%
Transparency Index (min/max)11 - 26
Transparency Index (average)16

Product Summary

64,244
INR 15,000 - 50,000
23 - 24
Credit Ins
24.0% annual, Decl Bal
1.00% upfront
0.43% ongoing Y
12.36% fees
N/A
 
22.9% - 23.8%
0.7% - 1.9%
3.9% - 4.5%
0.1% - 0.2%
28.5% - 29.5%
81 - 84
83

Product Details

Key Statistics
Outstanding portfolio (MWK)MWK 27,177,900.39
Portfolio (USD)USD 69,686.92
Active Clients with Loans562
Approximate % Female Clients20% - 40%
Approximate % Urban Clients40% - 60%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
This is a loan product for those who are on salaried employement
Loan Purpose
Any purposex
Income generation
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit educationx
Group meetings
Credit insurance
Workplace visits
Business training
Other training
Other
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a business
Must own a home or land
Must be a salaried workerx
Must be specific age group
Other
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution5
# Regions for this product5
Regions ActiveLilongwe, Mchinji, Salima, Mzimba, Blantyre

Product Details

Key Statistics
Outstanding portfolio (INR)INR 364,461,070
Portfolio (USD)USD 6,876,623.96
Active Clients with Loans64,244
Approximate % Female Clients60% - 80%
Approximate % Urban Clients0% - 20%
Methodology
Individualx
Solidarity groupx
Village banking
Self help group
Other
Description
For Agri Allied Products
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculturex
Education
Other household finance
OtherFor improving dairy livelihoods and buying inputs
Other (2)purchase of mulch animals,procurement of fodder
Included Services
Credit education
Group meetings
Credit insurancex
Workplace visits
Business training
Other training
Other
Other (2)
No other services
Eligibility
Menx
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
OtherJoint Liability Group
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution17
# Regions for this product15
Regions ActiveAndhra Pradesh, Bihar, ChhattisgarhJharkhand, Karnataka, Madhya Pradesh, Maharashtra, Meghalaya, Orissa, Rajasthan, Sikkim, Tripura, Uttar Pradesh, Uttarakhand, West Bengal

Loan Conditions

Loan Amount
CurrencyMWK
Minimum loan sizeMWK 5,000
Maximum loan size1,500,000
Distribution at Disbursement (Est.)
Loans less than MWK 50,00030%
MWK 50,000-150,00050%
MWK 150,000-250,00010%
MWK 250,000-350,0005%
MWK 350,000-450,0005%
Greater than MWK 450,0005%
Loan Term and Grace Period
Shortest loan term3.0 months
Longest loan term12.0 months
Approx average6.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less10%
Between 4 and 6 months10%
Between 7 and 9 months40%
Between 10 and 12 months40%
Between 13 and 18 months0
Longer than 18 months0
Grace Period
Grace period usage100%
Average grace period1.0 month
Repayment Frequency
Daily
Weekly
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 15,000
Maximum loan size50,000
Distribution at Disbursement (Est.)
Loans less than INR 5,0000
INR 5,000-15,0000
INR 15,000-25,00090%
INR 25,000-35,00010%
INR 35,000-45,0000
Greater than INR 45,0000
Loan Term and Grace Period
Shortest loan term23.0 months
Longest loan term24.0 months
Approx average24.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months0
Between 7 and 9 months0
Between 10 and 12 months0
Between 13 and 18 months0
Longer than 18 months100%
Grace Period
Grace period usage100%
Average grace period1.0 month
Repayment Frequency
Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest
Lowest quoted nominal interest38.00%
Highest quoted nominal interest38.00%
Interest rate periodYearly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionProcessing Fee
% of loan amount - min3.00%
% of loan amount - max3.00%
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 Premium
% 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?Yes
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 deposited50.00%
or, Fixed-amount depositedN/A
Deposits DURING period payments
% loan amount depositedN/A
or, Fixed-amount depositedN/A
Conditions on access to depositAccess During
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?No

Pricing Information

Interest
Lowest quoted nominal interest24.00%
Highest quoted nominal interest24.00%
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
This product has no upfront insurance fees
Ongoing Insurance Fees
Ins 1Ins 2
DescriptionCredit PlusHealth Insurance
% of loan amount - min0.43%0
% of loan amount - max0.43%0
OR, Fixed amount - min0130
Fixed amount - max0130
Reason for variation4.26 per thousand per person per monthRs. 130 per person
Appears on Repayment Sched?YesYes
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

Payroll Loan samples
Sample 1Sample 2Sample 3Sample 4Sample 5Sample 6
Loan AmountMWK 17,400MWK 20,000MWK 50,000MWK 100,000MWK 300,000MWK 500,000
Loan Cycle (1, 2, 3, etc)593723
Disbursement Date2012-12-182013-01-142013-01-032012-07-252012-09-072013-01-14
Loan Term (Months)12.0 months4.0 months12.0 months10.0 months12.0 months12.0 months
Grace Period (Months)0.0 months0.0 months0.0 months0.0 months0.0 months0.0 months
Total Cost of CreditMWK 7,482MWK 3,533.32MWK 21,499.96MWK 36,666.70MWK 129,000MWK 214,999.96
True Price by Comp           
Interest price component62.6%58.8%62.8%62.2%62.6%62.8%
Fee Component6.2%15.2%6.3%7.2%6.3%6.3%
Insurance Component4.3%10.5%4.3%4.9%4.3%4.3%
Tax Component0.0%0.0%0.0%0.0%0.0%0.0%
Deposit Component150.0%206.8%151.4%160.7%150.3%151.4%
Full APR (int fee ins tax dep)223.1%291.3%224.8%235.0%223.5%224.8%
Transparency Index171317161717
            
Original Repayment SchedulePDFPDFPDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDFPDFPDF

Full Pricing Data

Samruddhi Agri Allied Loan samples
Sample 1Sample 2Sample 3
Loan AmountINR 18,000INR 20,000INR 20,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot Known
Disbursement Date2013-04-262013-05-272013-05-27
Loan Term (Months)26.0 months36.0 months36.0 months
Grace Period (Months)0.4 months0.4 months0.3 months
Total Cost of CreditINR 6,324.25INR 9,994.72INR 9,921.72
True Price by Comp     
Interest price component23.8%23.8%23.8%
Fee Component1.0%0.7%0.7%
Insurance Component4.5%3.9%4.0%
Tax Component0.2%0.1%0.1%
Deposit Component0.0%0.0%0.0%
Full APR (int fee ins tax dep)29.5%28.5%28.6%
MFIN MFI Earning (Annualised)24.8%24.5%24.5%
MFIN Cost to Borrower (Annualised)29.5%28.5%28.6%
Transparency Index818484
MFIN Transparency Index100100100
      
Original Repayment SchedulePDFPDFPDF
MFT Pricing CalculationPDFPDFPDF
* The APR stated here is an MFTransparency term, definition and formula
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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
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