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: 2012-10-17
Data version: 2
Age of data: 140 months
Key Statistics
Outstanding portfolio (RWF) | RWF 87,318,036 |
Portfolio (USD) | USD 138,600 |
Active Clients with Loans | 1,067 |
Approximate % Female Clients | 20% - 40% |
Approximate % Urban Clients | 60% - 80% |
Methodology
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other | |
Description
This product is reserved for salaried people mostly of the of the private sector. The term of the loan varyies between 1 & 36 months and the maximum amount is 10 times their salary.
Loan Purpose
Any purpose | x |
Income generation | |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | |
Other (2) | |
Included Services
Credit education | |
Group meetings | |
Credit insurance | |
Workplace visits | |
Business training | |
Other training | |
Other | |
Other (2) | |
No other services | x |
Eligibility
Men | x |
Women | x |
Must run a business | |
Must own a home or land | |
Must be a salaried worker | x |
Must be specific age group | |
Other | |
Other (2) | |
Portfolio Size by Product
Geographic Coverage
# Regions for this institution | 2 |
# Regions for this product | 5 |
Regions Active | Bugesera, Kicukiro, Nyarugenge, Rubavu, Rusizi |
Loan Conditions
Loan Amount
Currency | RWF |
Minimum loan size | RWF 10,000 |
Maximum loan size | 5,000,000 |
Distribution at Disbursement (Est.)
Loans less than RWF 500,000 | 0 |
RWF 500,000-1,500,000 | 5% |
RWF 1,500,000-2,500,000 | 15% |
RWF 2,500,000-3,500,000 | 30% |
RWF 3,500,000-4,500,000 | 10% |
Greater than RWF 4,500,000 | 10% |
Loan Term and Grace Period
Shortest loan term | 1.0 month |
Longest loan term | 36.0 months |
Approx average | 19.0 months |
Distribution at Disbursement (Est.)
Loans 3 months or less | 50% |
Between 4 and 6 months | 10% |
Between 7 and 9 months | 0 |
Between 10 and 12 months | 10% |
Between 13 and 18 months | 10% |
Longer than 18 months | 20% |
Grace Period
Grace period usage | 0 |
Average grace period | 0 |
Repayment Frequency
Daily | |
Weekly | |
Every 2 weeks | |
Every 4 weeks | |
Monthly | x |
Every 2 months | |
Quarterly | |
Every 6 months | |
Every 12 months | |
Single end payment | |
Irregular payments | |
Pricing Information
Interest
Lowest quoted nominal interest | 15.00% |
Highest quoted nominal interest | 15.00% |
Interest rate period | Yearly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 | | Fee 2 |
---|
Description | Commission Fee | | Loan Application & Collateral Visit Fee |
% of loan amount - min | 1.50% | | 0 |
% of loan amount - max | 1.50% | | 0 |
OR, Fixed amount - min | 0 | | 15,000 |
Fixed amount - max | 0 | | 15,000 |
Reason for variation | N/A | | N/A |
Appears on Repayment Sched? | No | | No |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 |
---|
Description | Commission on Insurance |
% of loan amount - min | 0.06% |
% of loan amount - max | 10.45% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | No |
Ongoing 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 | 18% |
All or some fees taxed | All |
Additional Comments
APR calculations have used insurance rates applicable to a 30 year old client.
Full Pricing Data
Hembwa Wage MT & LT samples
| Sample 2 | | Sample 3 | | Sample 4 | | Sample 5 | | Sample 6 |
---|
Loan Amount | RWF 250,000 | | RWF 500,000 | | RWF 1,000,000 | | RWF 1,500,000 | | RWF 3,064,540 |
Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known | | Not Known |
Disbursement Date | 2012-04-16 | | 2012-05-11 | | 2012-04-25 | | 2012-08-22 | | 2012-05-02 |
Loan Term (Months) | 12.0 months | | 24.0 months | | 23.0 months | | 28.0 months | | 13.0 months |
Grace Period (Months) | 1.0 month | | 1.0 month | | 1.3 months | | 1.0 month | | 1.0 month |
Total Cost of Credit | RWF 60,457.49 | | RWF 179,894.70 | | RWF 321,256.42 | | RWF 579,284.13 | | RWF 580,135.15 |
True Price by Comp | | | | | | | | | |
Interest price component | 26.3% | | 26.2% | | 26.0% | | 26.1% | | 26.3% |
Fee Component | 15.1% | | 4.9% | | 3.4% | | 2.3% | | 3.6% |
Insurance Component | 0.6% | | 0.6% | | 0.7% | | 0.6% | | 0.5% |
Tax Component | 3.1% | | 1.0% | | 0.7% | | 0.5% | | 0.8% |
Deposit Component | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% |
Full APR (int fee ins tax dep) | 45.1% | | 32.7% | | 30.8% | | 29.5% | | 31.2% |
Transparency Index | 33 | | 46 | | 49 | | 51 | | 48 |
| | | | | | | | | |
Original Repayment Schedule | PDF | | PDF | | PDF | | PDF | | PDF |
MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF | | PDF |
Hembwa Wage MT & LT Price Graphs
Please note that the information you are viewing is
136 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: 2013-05-11
Data version: 1
Age of data: 136 months
Institution Type | Non Bank Financial Institution |
Is this institution regulated? | Yes |
Website address | http://www.mpowermicro.com/ |
Year established | 2009 |
Head of Institution | Mr K M Vishawanathan |
Regions active | Gujarat |
# Branches | 6 |
Total Portfolio (nat'l) | INR 119,954,038 |
Total Portfolio (USD) | USD 2,263,283.74 |
Active clients with loans | 13,665 |
Approximate % female clients | 100% |
Approximate % urban clients | 0% - 20% |
Network affiliations | MFIN, CARE |
4,760 Borrowers
USD 692,855.87 Portfolio
Active Product
8,905 Borrowers
USD 1,570,427.87 Portfolio
Active Product
Loan Products » Conditions
Product Name |
|
Loan Size Range |
|
Loan Term (months) |
|
% Female |
|
% Urban |
|
Loan Purpose |
|
Eligibility |
|
Other Services |
Samruddhi Business Loan |
|
INR 12,000 - 15,000 |
|
12 |
|
100% |
|
40% - 60% |
|
Business |
|
Women, Low HH Inc, Med HH Inc |
|
Group Mtgs, Credit Ins |
Hariyali Cattle Loan |
|
INR 15,000 - 15,000 |
|
12 |
|
100% |
|
0% |
|
Business |
|
Women, Low HH Inc, Med HH Inc |
|
Group Mtgs, Credit Ins |
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 |
Samruddhi Business Loan |
|
27% |
|
29.2% |
|
32.2% |
|
Yes |
|
Yes |
|
Yes |
|
100 |
Hariyali Cattle Loan |
|
27% - 27.1% |
|
29.2% - 29.3% |
|
32.2% - 32.4% |
|
Yes |
|
Yes |
|
Yes |
|
100 |
Loan Products » Pricing Information
Product Name |
|
Annual Nominal Interest |
|
Fees |
|
Insurance |
|
Taxes |
|
Compulsory Deposit |
|
APR (int+fee) |
|
Full APR |
|
Transparency Index |
Samruddhi Business Loan |
|
27.0% annual, Decl Bal |
|
1 Fee |
|
1 Ins |
|
12.36% fees |
|
N/A |
|
29.2% |
|
32.2% |
|
84 |
Hariyali Cattle Loan |
|
27.0% annual, Decl Bal |
|
1 Fee |
|
1 Ins |
|
12.36% fees |
|
N/A |
|
29.2% - 29.3% |
|
32.2% - 32.4% |
|
83 |