Please note that the information you are viewing is
141 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: 3
Age of data: 141 months
Key Statistics
| Outstanding portfolio (INR) | INR 93,442,973 |
| Portfolio (USD) | USD 1,763,074.96 |
| Active Clients with Loans | 146,981 |
| Approximate % Female Clients | 100% |
| Approximate % Urban Clients | 20% - 40% |
Methodology
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other | |
Description
It is a product in Livelihood improvement category for meeting emergency needs of the members
Loan Purpose
| Any purpose | x |
| Income generation | |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) | |
Included Services
| Credit education | x |
| Group meetings | x |
| Credit insurance | |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | Jagruthi- Client Education Series |
| Other (2) | Socio-Economic Development Workshop |
| No other services | |
Eligibility
| Men | |
| Women | x |
| Must run a business | |
| 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 | Member should have running IGL Pragati or IGL Pragati Plus or Water or Sanitation loan |
| Other (2) | |
Portfolio Size by Product
Geographic Coverage
| # Regions for this institution | 3 |
| # Regions for this product | 3 |
| Regions Active | Karnataka, Maharashtra, Tamil Nadu |
Loan Conditions
Loan Amount
| Currency | INR |
| Minimum loan size | INR 1,000 |
| Maximum loan size | 1,000 |
Distribution at Disbursement (Est.)
| Loans less than INR 5,000 | 100% |
| INR 5,000-15,000 | 0 |
| INR 15,000-25,000 | 0 |
| INR 25,000-35,000 | 0 |
| INR 35,000-45,000 | 0 |
| Greater than INR 45,000 | 0 |
Loan Term and Grace Period
| Shortest loan term | 2.6 months |
| Longest loan term | 2.8 months |
| Approx average | 2.6 months |
Distribution at Disbursement (Est.)
| Loans 3 months or less | 100% |
| Between 4 and 6 months | 0 |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 0 |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
Grace Period
| Grace period usage | 100% |
| Average grace period | 0.2 months |
Repayment Frequency
| Daily | |
| Weekly | x |
| 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 | 24.00% |
| Highest quoted nominal interest | 24.00% |
| 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 | 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 |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
This product has no upfront insurance feesOngoing 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? | Yes |
| Percentage of fees | 12.4% |
| All or some fees taxed | Some |
Additional Comments
For this product interest is taken up-front along with processing fees. Moratorium Period (Repayment Holiday) - one installment for principal only
Full Pricing Data
Emergency Loan samples
| Sample 1 | | Sample 2 | | Sample 3 |
|---|
| Loan Amount | INR 1,000 | | INR 1,000 | | INR 1,000 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2013-01-29 | | 2013-04-16 | | 2013-04-16 |
| Loan Term (Months) | 2.6 months | | 2.6 months | | 2.1 months |
| Grace Period (Months) | 0.2 months | | 0.2 months | | 0.2 months |
| Total Cost of Credit | INR 41.24 | | INR 41.24 | | INR 41.24 |
| True Price by Comp | | | | | |
| Interest price component | 24.5% | | 24.5% | | 34.0% |
| Fee Component | 8.4% | | 8.4% | | 11.6% |
| Insurance Component | 0.0% | | 0.0% | | 0.0% |
| Tax Component | 1.0% | | 1.0% | | 1.5% |
| Deposit Component | 0.0% | | 0.0% | | 0.0% |
| Full APR (int fee ins tax dep) | 33.9% | | 33.9% | | 47.1% |
| MFIN MFI Earning (Annualised) | 32.9% | | 32.9% | | 45.6% |
| MFIN Cost to Borrower (Annualised) | 33.9% | | 33.9% | | 47.1% |
| Transparency Index | 71 | | 71 | | 51 |
| MFIN Transparency Index | 98 | | 98 | | 71 |
| | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF |
* The APR stated here is an MFTransparency term, definition and formula
Emergency Loan Price Graphs
