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Institution
Data approved: 2013-01-09
Data version: 3
Age of data: 139 months
Key Statistics
Outstanding portfolio (INR) | INR 82,438,458 |
Portfolio (USD) | USD 1,555,442.60 |
Active Clients with Loans | 3,843 |
Approximate % Female Clients | 100% |
Approximate % Urban Clients | 0 |
Methodology
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other | |
Description
Sonata provide Individual Loan for income generation to our ex-client of IGL who have more than 24 month clientage. Repayment is fortnightly. Sonata also provides penalty free per-settlement facility to its clients.
Loan Purpose
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | |
Other (2) | |
Included Services
Credit education | x |
Group meetings | |
Credit insurance | x |
Workplace visits | |
Business training | |
Other training | |
Other | |
Other (2) | |
No other services | |
Eligibility
Men | |
Women | x |
Must run a business | x |
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) | |
Portfolio Size by Product
Geographic Coverage
# Regions for this institution | 2 |
# Regions for this product | 2 |
Regions Active | Madhya Pradesh, Uttar Pradesh |
Loan Conditions
Loan Amount
Currency | INR |
Minimum loan size | INR 20,000 |
Maximum loan size | 50,000 |
Distribution at Disbursement (Est.)
Loans less than INR 5,000 | 0 |
INR 5,000-15,000 | 0 |
INR 15,000-25,000 | 30% |
INR 25,000-35,000 | 40% |
INR 35,000-45,000 | 20% |
Greater than INR 45,000 | 20% |
Loan Term and Grace Period
Shortest loan term | 12.0 months |
Longest loan term | 24.0 months |
Approx average | 18.0 months |
Distribution at Disbursement (Est.)
Loans 3 months or less | 0 |
Between 4 and 6 months | 0 |
Between 7 and 9 months | 0 |
Between 10 and 12 months | 0 |
Between 13 and 18 months | 10% |
Longer than 18 months | 90% |
Grace Period
Grace period usage | 0 |
Average grace period | 0 |
Repayment Frequency
Daily | |
Weekly | |
Every 2 weeks | x |
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 interest | 26.00% |
Highest quoted nominal interest | 26.00% |
Interest rate period | Yearly |
Interest Rate Calculation Method | Decl Bal |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 |
---|
Description | Processing Fee |
% of loan amount - min | 0 |
% of loan amount - max | 0 |
OR, Fixed amount - min | 200 |
Fixed amount - max | 400 |
Reason for variation | Processing fee varies with the loan size |
Appears on Repayment Sched? | Yes |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 |
---|
Description | Insurance Fee |
% of loan amount - min | 0 |
% of loan amount - max | 0 |
OR, Fixed amount - min | 200 |
Fixed amount - max | 400 |
Reason for variation | Insurance premium amount varies with the loan size |
Appears on Repayment Sched? | Yes |
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required for | Never |
Criteria | N/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 deposited | N/A |
or, Fixed-amount deposited | N/A |
Deposits DURING period payments
% loan amount deposited | N/A |
or, Fixed-amount deposited | N/A |
Conditions on access to deposit | N/A |
Interest Paid on Deposit
Minimum interest rate paid | N/A |
Maximum interest rate paid | N/A |
Interest payment frequency | N/A |
Taxes
Are taxes charged on this product? | No |
Additional Comments
Sonata provide per-settlement facility without any penalties.
Full Pricing Data
Individual Loan samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 |
---|
Loan Amount | INR 22,380 | | INR 26,100 | | INR 31,700 | | INR 41,020 |
Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known |
Disbursement Date | 2013-02-10 | | 2013-02-04 | | 2013-02-02 | | 2013-03-10 |
Loan Term (Months) | 24.0 months | | 24.0 months | | 25.0 months | | 24.0 months |
Grace Period (Months) | -0.1 months | | 0.1 months | | 0.2 months | | -0.1 months |
Total Cost of Credit | INR 6,819.98 | | INR 7,989.98 | | INR 9,679.97 | | INR 12,539.96 |
True Price by Comp | | | | | | | |
Interest price component | 26.1% | | 25.7% | | 25.6% | | 26.0% |
Fee Component | 0.9% | | 0.9% | | 0.9% | | 0.9% |
Insurance Component | 1.0% | | 1.0% | | 0.9% | | 1.0% |
Tax Component | 0.1% | | 0.2% | | 0.1% | | 0.1% |
Deposit Component | 0.0% | | 0.0% | | 0.0% | | 0.0% |
Full APR (int fee ins tax dep) | 28.1% | | 27.8% | | 27.5% | | 28.0% |
MFIN MFI Earning (Annualised) | 27.0% | | 26.6% | | 26.5% | | 26.9% |
MFIN Cost to Borrower (Annualised) | 28.1% | | 27.8% | | 27.5% | | 28.0% |
Transparency Index | 92 | | 94 | | 94 | | 93 |
MFIN Transparency Index | 100 | | 100 | | 100 | | 100 |
| | | | | | | |
Original Repayment Schedule | PDF | | PDF | | PDF | | PDF |
MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF |
* The APR stated here is an MFTransparency term, definition and formula
Individual Loan Price Graphs