Outstanding portfolio (PHP) | PHP 9,589,793 |
Portfolio (USD) | USD 229,420.89 |
Active Clients with Loans | 1,171 |
Approximate % Female Clients | 80% - 100% |
Approximate % Urban Clients | 0% - 20% |
Individual | x |
Solidarity group | x |
Village banking | |
Self help group | |
Other |
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
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 | 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) |
# Regions for this institution | N/A |
# Regions for this product | N/A |
Regions Active |
Currency | PHP |
Minimum loan size | PHP 5,000 |
Maximum loan size | 25,000 |
Shortest loan term | 3.7 months |
Longest loan term | 12.1 months |
Approx average | 6.0 months |
Grace period usage | 0 |
Average grace period | 0 |
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 |
Lowest quoted nominal interest | 2.00% |
Highest quoted nominal interest | 2.50% |
Reason(s) why interest rate varies | Branch, Client Risk, Additional Services |
Interest rate period | Monthly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | Yes |
Is rate fixed for entire loan term | Yes |
Fee 1 | Fee 2 | ||
---|---|---|---|
Description | Service Fee | Filing Fee/Notarial Fee | |
% of loan amount - min | 4.00% | 0 | |
% of loan amount - max | 6.00% | 0 | |
OR, Fixed amount - min | 0 | 130 | |
Fixed amount - max | 0 | 130 | |
Reason for variation | N/A | ||
Appears on Repayment Sched? | Yes | Yes |
Ins 1 | Ins 2 | ||
---|---|---|---|
Description | Basic Life Insurance (annual fee) | Loan Insurance | |
% of loan amount - min | 0 | 1.13% | |
% of loan amount - max | 0 | 1.13% | |
OR, Fixed amount - min | 182.50 | 0 | |
Fixed amount - max | 182.50 | 0 | |
Reason for variation | N/A | N/A | |
Appears on Repayment Sched? | Yes | Yes |
Required for | All |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | |
Do borrowers control deposit in their group? | Yes |
% loan amount deposited | 3.00% |
or, Fixed-amount deposited | 0 |
% loan amount deposited | 0 |
or, Fixed-amount deposited | PHP 20 |
Conditions on access to deposit | Access During |
Minimum interest rate paid | 4.50% |
Maximum interest rate paid | 4.50% |
Interest payment frequency | Quarterly |
Are taxes charged on this product? | No |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | ||||
---|---|---|---|---|---|---|---|
Loan Amount | PHP 10,000 | PHP 15,000 | PHP 20,000 | PHP 25,000 | |||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | 1 | Not Known | |||
Disbursement Date | 2011-09-26 | 2011-09-30 | 2011-09-30 | 2011-09-27 | |||
Loan Term (Months) | 6.1 months | 12.1 months | 6.1 months | 6.1 months | |||
Grace Period (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 | |||
True Price by Comp | |||||||
Interest and Fee Component | 86.0% | 70.9% | 86.0% | 85.4% | |||
Insurance Component | 2.9% | 6.2% | 7.1% | 10.9% | |||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
Deposit Component | 9.4% | 24.7% | 17.6% | 19.3% | |||
Full APR (int fee ins tax dep) | 98.2% | 101.8% | 110.6% | 115.6% | |||
Transparency Index | 24 | 24 | 22 | 21 | |||
Original Repayment Schedule | |||||||
MFT Pricing Calculation |
Institution Type | Non Bank Financial Institution |
Is this institution regulated? | Yes |
Website address | http://www.armanindia.com/ |
Year established | 1992 |
Head of Institution | Jayendra Patel |
Regions active | Gujarat |
# Branches | 24 |
Total Portfolio (nat'l) | INR 28,042,700,000 |
Total Portfolio (USD) | USD 529,107,547.20 |
Active clients with loans | 41,503 |
Approximate % female clients | 100% |
Approximate % urban clients | 40% - 60% |
Network affiliations | MFIN, Sa-Dhan |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Group Loan | INR 8,000 - 15,000 | 12 | 100% | 40% - 60% | Business, Housing, Education, Other | Women, Have home or land, Low HH Inc, Med HH Inc, Rural HH, Urban HH | Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits |
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 | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Group Loan | 24.4% - 25.4% | 26.3% - 27.3% | 29.1% - 30.2% | Yes | Info awaited | Info awaited | 99 |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Group Loan | 24.5%-26.0% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 26.3% - 27.3% | 29.1% - 30.2% | 83 |
Key Statistics | |
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Loan Portfolio (USD) | |
% Products using declining balance | |
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% Products with one or more insurances | |
% Products with compulsory deposits |
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