Please note that the information you are viewing is
156 months old and may not represent the prices currently charged.
If you represent this MFI and wish to update your information,
click HERE
Institution
Data approved: 2011-11-15
Data version: 1
Age of data: 156 months
Key Statistics
Outstanding portfolio (PHP) | PHP 25,000,000 |
Portfolio (USD) | USD 598,086.12 |
Active Clients with Loans | 1,500 |
Approximate % Female Clients | 80% - 100% |
Approximate % Urban Clients | 60% - 80% |
Methodology
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other | |
Description
Individual micro-enterprise loan
Loan Purpose
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | |
Other (2) | |
Included Services
Credit education | |
Group meetings | |
Credit insurance | x |
Workplace visits | x |
Business training | |
Other training | |
Other | |
Other (2) | |
No other services | |
Eligibility
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) | |
Portfolio Size by Product
Geographic Coverage
# Regions for this institution | N/A |
# Regions for this product | N/A |
Regions Active | |
Loan Conditions
Loan Amount
Currency | PHP |
Minimum loan size | PHP 5,000 |
Maximum loan size | 150,000 |
Loan Term and Grace Period
Shortest loan term | 1.0 month |
Longest loan term | 6.0 months |
Approx average | 4.0 months |
Grace Period
Grace period usage | 0 |
Average grace period | 0 |
Repayment Frequency
Daily | |
Weekly | x |
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 interest | 2.00% |
Highest quoted nominal interest | 3.00% |
Reason(s) why interest rate varies | Randomly selected by the bank's system |
Interest rate period | Monthly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | |
Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 | | Fee 2 |
---|
Description | Bank Charge | | Processing Fee |
% of loan amount - min | 0 | | 0 |
% of loan amount - max | 0 | | 0 |
OR, Fixed amount - min | 232.40 | | 100 |
Fixed amount - max | 6,474 | | 325 |
Reason for variation | | | N/a |
Appears on Repayment Sched? | No | | No |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 |
---|
Description | Mortgage Redemption Insurance |
% of loan amount - min | 0 |
% of loan amount - max | 0 |
OR, Fixed amount - min | 16.25 |
Fixed amount - max | 591.50 |
Reason for variation | N/A |
Appears on Repayment Sched? | No |
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required for | All |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | |
Do borrowers control deposit in their group? | |
Deposit BEFORE or AT Disbursement
% loan amount deposited | 0 |
or, Fixed-amount deposited | 0 |
Deposits DURING period payments
% loan amount deposited | 10.00% |
or, Fixed-amount deposited | 0 |
Conditions on access to deposit | End Term |
Interest Paid on Deposit
Minimum interest rate paid | 1.00% |
Maximum interest rate paid | 1.00% |
Interest payment frequency | Quarterly |
Taxes
Are taxes charged on this product? | Yes |
Percentage of fees | 0 |
All or some fees taxed | N/A |
Additional Comments
Bank charge = .83% of loan amount x loan term. Processing Fee = P1 or .25% of loan amount (for 4, and up). Insurance Fee = P2 for every P1 for 3 month loan (based on table of fees. Tax (Gross Receipts Tax) = 5% of accrued interest fee and fees (except insurance). Tax (Doc. Stamp) = P1 for every P2 per annum. For savings, opening account balance is P2. No deposit is required prior to disbursement. It is assumed that savings have been accumulated from previous loan cycles. Weekly savings required is 1% of loan amount / # of weeks
Full Pricing Data
Unlad samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 | | Sample 5 | | Sample 6 |
---|
Loan Amount | PHP 7,000 | | PHP 13,000 | | PHP 30,000 | | PHP 60,000 | | PHP 90,000 | | PHP 130,000 |
Loan Cycle (1, 2, 3, etc) | 2 | | Not Known | | Not Known | | Not Known | | Not Known | | Not Known |
Disbursement Date | 2011-05-27 | | 2011-05-20 | | 2011-05-06 | | 2011-06-03 | | 2011-04-08 | | 2011-03-11 |
Loan Term (Months) | 4.0 months | | 3.0 months | | 3.0 months | | 5.1 months | | 6.1 months | | 6.1 months |
Grace Period (Months) | 0.0 months | | 0.0 months | | 0.0 months | | 0.0 months | | 0.0 months | | 0.0 months |
Total Cost of Credit | Not Known | | Not Known | | Not Known | | Not Known | | Not Known | | Not Known |
True Price by Comp | | | | | | | | | | | |
Interest and Fee Component | 85.5% | | 81.0% | | 77.5% | | 77.7% | | 78.3% | | 78.7% |
Insurance Component | 1.5% | | 2.1% | | 2.1% | | 2.0% | | 2.0% | | 2.0% |
Tax Component | 5.9% | | 7.7% | | 7.4% | | 5.5% | | 5.7% | | 5.7% |
Deposit Component | 9.4% | | 6.0% | | 5.7% | | 8.5% | | 8.9% | | 8.6% |
Full APR (int fee ins tax dep) | 102.3% | | 96.8% | | 92.7% | | 93.7% | | 94.9% | | 95.1% |
Transparency Index | 23 | | 25 | | 26 | | 26 | | 25 | | 25 |
| | | | | | | | | | | |
Original Repayment Schedule | PDF | | PDF | | PDF | | PDF | | PDF | | PDF |
MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF | | PDF | | PDF |
Please note that the information you are viewing is
138 months old and may not represent the prices currently charged.
If you represent this MFI and wish to update your information,
click HERE
Institution
Data approved: 2013-01-09
Data version: 3
Age of data: 138 months
Institution Type | Non Bank Financial Institution |
Is this institution regulated? | Yes |
Website address | http://www.sonataindia.com/ |
Year established | 2006 |
Head of Institution | Anup Kumar Singh |
Regions active | Haryana, Madhya Pradesh |
# Branches | 108 |
Total Portfolio (nat'l) | INR 1,204,379,246 |
Total Portfolio (USD) | USD 22,724,136.72 |
Active clients with loans | 158,243 |
Approximate % female clients | 100% |
Approximate % urban clients | 0% - 20% |
Network affiliations | Sa-Dhan, SAMN, MFIN, ACTED |
152,607 Borrowers
USD 21,114,947.77 Portfolio
Active Product
3,843 Borrowers
USD 1,555,442.60 Portfolio
Active Product
1,793 Borrowers
USD 53,746.34 Portfolio
Active Product
Loan Products » Conditions
Product Name |
|
Loan Size Range |
|
Loan Term (months) |
|
% Female |
|
% Urban |
|
Loan Purpose |
|
Eligibility |
|
Other Services |
Income Generating Loan |
|
INR 7,200 - 19,650 |
|
12.2 - 23.33 |
|
100% |
|
0% - 20% |
|
Business |
|
Women, Low HH Inc, Med HH Inc |
|
Credit Educ, Group Mtgs, Credit Ins |
Individual Loan |
|
INR 20,000 - 50,000 |
|
12 - 24 |
|
100% |
|
0% |
|
Business |
|
Women, Have business |
|
Credit Educ, Credit Ins |
Utility Finance |
|
INR 1,000 - 6,770 |
|
3.55 - 8.88 |
|
100% |
|
20% - 40% |
|
Any Purpose |
|
Women |
|
Credit Educ, Group Mtgs, Other Training |
Loan Products » MFIN India Additional Information
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 |
Income Generating Loan |
|
25% - 25.4% |
|
26.2% - 26.6% |
|
27.5% - 28.8% |
|
Yes |
|
Yes |
|
Yes |
|
100 |
Individual Loan |
|
25.6% - 26.1% |
|
26.5% - 27% |
|
27.5% - 28.1% |
|
Yes |
|
Yes |
|
Yes |
|
100 |
Utility Finance |
|
23% - 26.2% |
|
25.6% - 30.2% |
|
26% - 30.7% |
|
Yes |
|
Yes |
|
NA |
|
92 |
Loan Products » Pricing Information
Product Name |
|
Annual Nominal Interest |
|
Fees |
|
Insurance |
|
Taxes |
|
Compulsory Deposit |
|
APR (int+fee) |
|
Full APR |
|
Transparency Index |
Income Generating Loan |
|
26.0% annual, Decl Bal |
|
1 Fee |
|
1 Ins |
|
None |
|
N/A |
|
26.2% - 26.6% |
|
27.5% - 28.8% |
|
92 |
Individual Loan |
|
26.0% annual, Decl Bal |
|
1 Fee |
|
1 Ins |
|
None |
|
N/A |
|
26.5% - 27% |
|
27.5% - 28.1% |
|
93 |
Utility Finance |
|
23.1%-26.0% annual, Decl Bal |
|
1 Fee |
|
0 Ins |
|
None |
|
N/A |
|
25.6% - 30.2% |
|
26% - 30.7% |
|
80 |