Number borrowers | 30,054 |
Loan Amount (range) | USD 400 - 20,000 |
Loan Term (range) | 10 - 36 |
Other Services (text summary) | Credit Ins |
Annual Interest & Method | 22.9%-26.9% annual, Decl Bal |
Fees | 0.60% ongoing |
Insurance | None |
Tax | None |
Comp Dep | N/A |
Range of pricing | |
Interest Price Component | N/A |
Fee Component | 24.9% - 27.3% (Int+Fee) |
Insurance Component | 0 - 14.3% |
Tax Component Range | 0 |
Full APR (int fee ins tax dep) | 37.5% - 39.7% |
Transparency Index (min/max) | 0 - N/A |
Transparency Index (average) | 59 |
10,659 |
MWK 200,000 - 50,000,000 |
3 - 48 |
Credit Educ, Group Mtgs, Credit Ins, Business Training |
37.00%-40.00% annual, Decl Bal |
2.00% upfront |
None |
None |
15.00% upfront |
31.6% - 67.3% |
2.0% - 47.8% |
0 - 3.7% |
0 |
38.7% - 39.0% |
29 - 130 |
95 |
Outstanding portfolio (USD) | USD 21,578,604.36 |
Portfolio (USD) | USD 21,578,604.36 |
Active Clients with Loans | 30,054 |
Approximate % Female Clients | 60% - 80% |
Approximate % Urban Clients | 60% - 80% |
Individual | x |
Solidarity group | |
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 | |
Group meetings | |
Credit insurance | x |
Workplace visits | |
Business training | |
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 |
Outstanding portfolio (MWK) | MWK 738,988,641 |
Portfolio (USD) | USD 1,894,842.67 |
Active Clients with Loans | 10,659 |
Approximate % Female Clients | 20% - 40% |
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 | |
Must own a home or land | |
Must be a salaried worker | |
Must be specific age group | |
Other | Running a farming enterprise |
Other (2) |
# Regions for this institution | 16 |
# Regions for this product | 19 |
Regions Active | Dedza, Dowa, Kasungu, Lilongwe, Mchinji, Nkhotakota, Salima, ChitipaKaronga, Mzimba, Nkhata Bay, Rumphi, Blantyre, ChikwawaMangochi, Mulanje, Nsanje, Thyolo, Zomba |
Currency | USD |
Minimum loan size | USD 400 |
Maximum loan size | 20,000 |
Shortest loan term | 10.0 months |
Longest loan term | 36.0 months |
Approx average | 11.0 months |
Grace period usage | 0 |
Average grace period | 0 |
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 |
Currency | MWK |
Minimum loan size | MWK 200,000 |
Maximum loan size | 50,000,000 |
Loans less than MWK 50,000 | 0 |
MWK 50,000-150,000 | 0 |
MWK 150,000-250,000 | 20% |
MWK 250,000-350,000 | 30% |
MWK 350,000-450,000 | 20% |
Greater than MWK 450,000 | 20% |
Shortest loan term | 3.0 months |
Longest loan term | 48.0 months |
Approx average | 12.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 10% |
Between 7 and 9 months | 10% |
Between 10 and 12 months | 20% |
Between 13 and 18 months | 20% |
Longer than 18 months | 40% |
Grace period usage | 70% |
Average grace period | 6.0 months |
Daily | |
Weekly | |
Every 2 weeks | |
Every 4 weeks | |
Monthly | x |
Every 2 months | |
Quarterly | |
Every 6 months | |
Every 12 months | |
Single end payment | x |
Irregular payments |
Lowest quoted nominal interest | 22.93% |
Highest quoted nominal interest | 26.92% |
Reason(s) why interest rate varies | Loan Size |
Interest rate period | Yearly |
Interest Rate Calculation Method | Decl Bal |
Subsidized by funder request? | |
Is rate fixed for entire loan term | Yes |
Fee 1 | |
---|---|
Description | Servicio de proteccio familiar en caso de fallecimiento del titular o conyuge, incapacidad total y permanente |
% of loan amount - min | 0.60% |
% of loan amount - max | 0.60% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | Yes |
Required for | Never |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | N/A |
Do borrowers control deposit in their group? | N/A |
% loan amount deposited | N/A |
or, Fixed-amount deposited | N/A |
% loan amount deposited | N/A |
or, Fixed-amount deposited | N/A |
Conditions on access to deposit | N/A |
Minimum interest rate paid | N/A |
Maximum interest rate paid | N/A |
Interest payment frequency | N/A |
Are taxes charged on this product? | No |
Lowest quoted nominal interest | 37.00% |
Highest quoted nominal interest | 40.00% |
Reason(s) why interest rate varies | Time as Client, Client Risk |
Interest rate period | Yearly |
Interest Rate Calculation Method | Decl Bal |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Fee 1 | |
---|---|
Description | Processing Fee |
% of loan amount - min | 2.00% |
% of loan amount - max | 2.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | No |
Required for | All |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | No |
Do borrowers control deposit in their group? | No |
% loan amount deposited | 15.00% |
or, Fixed-amount deposited | 0 |
% loan amount deposited | 0 |
or, Fixed-amount deposited | 0 |
Conditions on access to deposit | End Term |
Minimum interest rate paid | 7.00% |
Maximum interest rate paid | 7.00% |
Interest payment frequency | Monthly |
Are taxes charged on this product? | No |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | Sample 6 | ||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Loan Amount | USD 350 | USD 7,000 | USD 950 | USD 7,992 | USD 1,900 | USD 3,900 | |||||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | Not Known | |||||
Disbursement Date | 2010-10-19 | 2010-10-15 | 2010-10-30 | 2010-10-25 | 2010-10-25 | 2010-10-27 | |||||
Loan Term (Months) | 5.0 months | 24.0 months | 12.0 months | 12.0 months | 18.0 months | 18.0 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 | 27.2% | 24.9% | 27.3% | 24.9% | 27.3% | 24.9% | |||||
Insurance Component | 10.8% | 12.8% | 12.3% | 12.6% | 12.4% | 12.7% | |||||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
Deposit Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
Full APR (int fee ins tax dep) | 38.1% | 37.6% | 39.6% | 37.5% | 39.7% | 37.6% | |||||
Transparency Index | 60 | 61 | 58 | 61 | 58 | 61 | |||||
Original Repayment Schedule | |||||||||||
MFT Pricing Calculation |
Sample 1 | Sample 2 | Sample 4 | |||
---|---|---|---|---|---|
Loan Amount | MWK 200,000 | MWK 300,000 | MWK 500,000 | ||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
Disbursement Date | 2012-10-04 | 2012-10-04 | 2012-10-04 | ||
Loan Term (Months) | 12.0 months | 12.0 months | 12.0 months | ||
Grace Period (Months) | 11.0 months | 11.0 months | 11.0 months | ||
Total Cost of Credit | MWK 78,000 | MWK 116,000 | MWK 195,000 | ||
True Price by Comp | |||||
Interest price component | 31.8% | 31.6% | 31.8% | ||
Fee Component | 2.1% | 2.0% | 2.1% | ||
Insurance Component | 0.0% | 0.0% | 0.0% | ||
Tax Component | 0.0% | 0.0% | 0.0% | ||
Deposit Component | 5.1% | 5.1% | 5.1% | ||
Full APR (int fee ins tax dep) | 39.0% | 38.7% | 39.0% | ||
Transparency Index | 95 | 96 | 95 | ||
Original Repayment Schedule | |||||
MFT Pricing Calculation |
Key Statistics | |
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# Samples: | |
# Products | |
# Institutions | |
# Countries | |
# Borrowers | |
Loan Portfolio (USD) | |
% Products using declining balance | |
% Products with one or more fee | |
% Products with one or more insurances | |
% Products with compulsory deposits |
Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
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