Institution Type | Non-Governmental Organization |
Is this institution regulated? | No |
Website address | N/A |
Year established | 1996 |
Head of Institution | Mr Gulbaz Afaqi |
Regions active | Punjab |
# Branches | 3 |
Total Portfolio (nat'l) | PKR 85,584,088 |
Total Portfolio (USD) | USD 873,307.02 |
Active clients with loans | 4,193 |
Approximate % female clients | 20% - 40% |
Approximate % urban clients | 0 |
Network affiliations | Pakistan Microfinance Network, PMFN, MONPAK, HRDN |
Funders | Pakistan Poverty Alleviation Fund, One UN GRIP, OPP/OCT |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Agriculture | PKR 20,000 - 75,000 | 6 - 18 | 20% - 40% | 0% | Agriculture | Women, Men | ||||||||
Livestock | PKR 15,000 - 30,000 | 12 | 40% - 60% | 0% | Business | Women, Men | ||||||||
Livestock Fattening | PKR 20,000 - 30,000 | 6 - 11 | 40% - 60% | 0% | Business | Women, Men | Credit Ins, Tech Asst Visits | |||||||
Handicrafts | PKR 15,000 - 30,000 | 12 | 80% - 100% | 0% | Business | Women, Men, Have business | ||||||||
Trade Business | PKR 10,000 - 70,000 | 12 | 20% - 40% | 0% | Business | Women, Men, Have business | ||||||||
Solar Lighting | PKR 15,000 - 30,000 | 6 - 12 | 20% - 40% | 0% | Any Purpose | Women, Men |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Agriculture | 21.0%-24.0% annual, Flat | 1 Fee | 0 Ins | None | N/A | 40.7% | 40.7% | N/A | ||||||||
Livestock | 21.0%-24.0% annual, Flat | 1 Fee | 0 Ins | None | N/A | 40.7% - 40.9% | 40.7% - 40.9% | N/A | ||||||||
Livestock Fattening | 21.0%-24.0% annual, Flat | 1 Fee | 1 Ins | None | None | 25.8% | 29% | N/A | ||||||||
Handicrafts | 21.0%-24.0% annual, Flat | 1 Fee | 0 Ins | None | N/A | 40.3% - 40.9% | 40.3% - 40.9% | N/A | ||||||||
Trade Business | 21.0%-24.0% annual, Flat | 1 Fee | 0 Ins | None | N/A | 40.7% - 40.9% | 40.7% - 40.9% | N/A | ||||||||
Solar Lighting | 36.0% annual, Decl Bal | 1 Fee | 0 Ins | None | N/A | 40.3% - 40.9% | 40.3% - 40.9% | N/A |
Outstanding portfolio (INR) | INR 162,845,583 |
Portfolio (USD) | USD 3,072,558.17 |
Active Clients with Loans | 21,038 |
Approximate % Female Clients | 100% |
Approximate % Urban Clients | 60% - 80% |
Individual | x |
Solidarity group | |
Village banking | |
Self help group | x |
Other | Joint Liability Group |
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | x |
Other household finance | |
Other | |
Other (2) |
Credit education | x |
Group meetings | x |
Credit insurance | x |
Workplace visits | |
Business training | x |
Other training | |
Other | |
Other (2) | |
No other services |
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 | x |
Household income <120,000 INR | x |
Must live in rural area | |
Must lives in urban area | |
Other | 3 Out of 5 members should have own house in a group |
Other (2) | Age should be above 18 and upto 58 |
# Regions for this institution | 5 |
# Regions for this product | 3 |
Regions Active | Andhra Pradesh, Orissa, Tamil Nadu |
Currency | INR |
Minimum loan size | INR 5,000 |
Maximum loan size | 30,000 |
Loans less than INR 5,000 | 5% |
INR 5,000-15,000 | 90% |
INR 15,000-25,000 | 5% |
INR 25,000-35,000 | 0 |
INR 35,000-45,000 | 0 |
Greater than INR 45,000 | 0 |
Shortest loan term | 12.0 months |
Longest loan term | 24.0 months |
Approx average | DK |
Loans 3 months or less | 0 |
Between 4 and 6 months | 0 |
Between 7 and 9 months | 0 |
Between 10 and 12 months | 60% |
Between 13 and 18 months | 40% |
Longer than 18 months | 0 |
Grace period usage | 0 |
Average grace period | 0 |
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 |
Lowest quoted nominal interest | 25.00% |
Highest quoted nominal interest | 26.72% |
Reason(s) why interest rate varies | Loan Size, Changes in Interest rates are due to competition, company performance and regulation |
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 | Processing Fee |
% of loan amount - min | 1.00% |
% of loan amount - max | 1.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | Yes |
Ins 1 | |
---|---|
Description | Insurance |
% of loan amount - min | 0.70% |
% of loan amount - max | 0.70% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
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? | Yes |
Percentage of fees | 12.4% |
All or some fees taxed | Some |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | ||||
---|---|---|---|---|---|---|---|
Loan Amount | INR 10,000 | INR 15,000 | INR 12,000 | INR 12,000 | |||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
Disbursement Date | 2012-09-06 | 2012-09-25 | 2012-09-06 | 2012-09-06 | |||
Loan Term (Months) | 11.0 months | 11.0 months | 11.0 months | 11.0 months | |||
Grace Period (Months) | -0.3 months | -0.3 months | -0.3 months | -0.3 months | |||
Total Cost of Credit | INR 1,507.36 | INR 2,298.54 | INR 1,818.83 | INR 1,818.83 | |||
True Price by Comp | |||||||
Interest price component | 27.3% | 27.2% | 26.8% | 26.8% | |||
Fee Component | 2.3% | 2.2% | 2.3% | 2.3% | |||
Insurance Component | 1.6% | 1.5% | 1.5% | 1.5% | |||
Tax Component | 0.3% | 0.3% | 0.3% | 0.3% | |||
Deposit Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
Full APR (int fee ins tax dep) | 31.5% | 31.2% | 30.9% | 30.9% | |||
MFIN MFI Earning (Annualised) | 29.6% | 29.4% | 29.1% | 29.1% | |||
MFIN Cost to Borrower (Annualised) | 31.5% | 31.2% | 30.9% | 30.9% | |||
Transparency Index | 79 | 80 | 81 | 81 | |||
MFIN Transparency Index | 92 | 92 | 93 | 93 | |||
Original Repayment Schedule | |||||||
MFT Pricing Calculation |
Key Statistics | |
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Loan Portfolio (USD) | |
% Products using declining balance | |
% Products with one or more fee | |
% Products with one or more insurances | |
% Products with compulsory deposits |
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