Please note that the information you are viewing is
160 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: 160 months
Key Statistics
| 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% |
Methodology
| Individual | x |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other | |
Description
We are not just providing loans to our members but we also give them loan insurance, basic life insurance system, accident insurance and Mutual Aid to our members
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 | x |
| Credit insurance | x |
| Workplace visits | |
| Business training | x |
| 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 | 25,000 |
Loan Term and Grace Period
| Shortest loan term | 3.7 months |
| Longest loan term | 12.1 months |
| Approx average | 6.0 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 | 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 |
Upfront Fees
| 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 |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
| 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 |
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? | Yes |
Deposit BEFORE or AT Disbursement
| % loan amount deposited | 3.00% |
| or, Fixed-amount deposited | 0 |
Deposits DURING period payments
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | PHP 20 |
| Conditions on access to deposit | Access During |
Interest Paid on Deposit
| Minimum interest rate paid | 4.50% |
| Maximum interest rate paid | 4.50% |
| Interest payment frequency | Quarterly |
Taxes
| Are taxes charged on this product? | No |
Additional Comments
Interest on savings is paid quarterly. Mortuary Fund and Basic Life Insurance are annual fees. P1 CBU is required on the first loan cycle. For weekly deposits, on first cycle, P1 savings and P1 for CBU. For each succeeding loan cycle, an additional P5. If there is no withdrawal, there is no maintaining balance. If with withdrawals, maintaining balance amount will vary based on loan amount.
Full Pricing Data
Cycle Loan samples
| 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 | PDF | | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF |
Please note that the information you are viewing is
140 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: 2013-05-14
Data version: 2
Age of data: 140 months
| Institution Type | Non Bank Financial Institution |
| Is this institution regulated? | Yes |
| Website address | http://www.sccimicrofinance.com/ |
| Year established | 1995 |
| Head of Institution | Mrs. R.Girija |
| Regions active | Andhra Pradesh, Karnataka, Maharashtra, Orissa, Tamil Nadu |
| # Branches | 83 |
| Total Portfolio (nat'l) | INR 892,862,262 |
| Total Portfolio (USD) | USD 16,846,457.77 |
| Active clients with loans | 121,066 |
| Approximate % female clients | 100% |
| Approximate % urban clients | 60% - 80% |
| Network affiliations | MFIN, SA-DHAN |
21,038 Borrowers
USD 3,072,558.17 Portfolio
Active Product
94,660 Borrowers
USD 12,837,959.98 Portfolio
Active Product
Loan Products » Conditions
| Product Name |
|
Loan Size Range |
|
Loan Term (months) |
|
% Female |
|
% Urban |
|
Loan Purpose |
|
Eligibility |
|
Other Services |
| Fortnightly Loan |
|
INR 5,000 - 30,000 |
|
12 - 24 |
|
100% |
|
60% - 80% |
|
Business, Education |
|
Women, Have business, Low HH Inc, Med HH Inc, 3 Out of 5 members should have own house in a group, Age should be above 18 and upto 58 |
|
Credit Educ, Group Mtgs, Credit Ins, Business Training |
| Weekly JLG |
|
INR 5,000 - 30,000 |
|
12 - 24 |
|
100% |
|
80% - 100% |
|
Business, Education |
|
Women, Have business, Low HH Inc, Med HH Inc, 3 out of 5 members should have own house, Age should be above 18 and upto 58 |
|
Credit Educ, Group Mtgs, Credit Ins, Business Training, Product Linkages |
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 |
| Fortnightly Loan |
|
26.8% - 27.3% |
|
29.1% - 29.6% |
|
30.9% - 31.5% |
|
Yes |
|
Yes |
|
Yes |
|
93 |
| Weekly JLG |
|
25.8% - 26.6% |
|
28% - 28.8% |
|
29.8% - 30.6% |
|
Yes |
|
Yes |
|
Yes |
|
96 |
Loan Products » Pricing Information
| Product Name |
|
Annual Nominal Interest |
|
Fees |
|
Insurance |
|
Taxes |
|
Compulsory Deposit |
|
APR (int+fee) |
|
Full APR |
|
Transparency Index |
| Fortnightly Loan |
|
25.0%-26.7% annual, Decl Bal |
|
1 Fee |
|
1 Ins |
|
12.36% fees |
|
N/A |
|
29.1% - 29.6% |
|
30.9% - 31.5% |
|
80 |
| Weekly JLG |
|
25.0%-26.7% annual, Decl Bal |
|
1 Fee |
|
1 Ins |
|
12.36% fees |
|
N/A |
|
28% - 28.8% |
|
29.8% - 30.6% |
|
83 |
