Number borrowers | 566 |
Loan Amount (range) | USD 100 - 3,000 |
Loan Term (range) | 6 - 18 |
Other Services (text summary) | Credit Educ, Tech Asst Visits |
Annual Interest & Method | 20.9% annual, Decl Bal |
Fees | 0.40% upfront |
Insurance | None |
Tax | None |
Comp Dep | 5.00 ongoing |
Range of pricing | |
Interest Price Component | N/A |
Fee Component | 21.1% - 21.2% (Int+Fee) |
Insurance Component | 0 - 1.1% |
Tax Component Range | 0 |
Full APR (int fee ins tax dep) | 22.7% - 23.1% |
Transparency Index (min/max) | 0 - N/A |
Transparency Index (average) | 91 |
584 |
MWK 6,000 - 1,500,000 |
3 - 12 |
Credit Educ, Credit Ins, Business Training |
32.00%-42.00% annual, Flat |
3.00% upfront |
2.00% upfront |
None |
50.00% upfront |
54.5% - 72.2% |
5.6% - 18.8% |
3.9% - 12.9% |
0 |
187.8% - 297.0% |
11 - 26 |
12 |
Outstanding portfolio (USD) | USD 752,882 |
Portfolio (USD) | USD 752,882 |
Active Clients with Loans | 566 |
Approximate % Female Clients | 80% - 100% |
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 | x |
Group meetings | |
Credit insurance | |
Workplace visits | x |
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 34,181,728.34 |
Portfolio (USD) | USD 87,645.46 |
Active Clients with Loans | 584 |
Approximate % Female Clients | 40% - 60% |
Approximate % Urban Clients | 60% - 80% |
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other |
Any purpose | |
Income generation | x |
Mortgage/housing | x |
Consumer loan | x |
Agriculture | |
Education | x |
Other household finance | |
Other | |
Other (2) |
Credit education | x |
Group meetings | |
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 | x |
Must be a salaried worker | |
Must be specific age group | |
Other | |
Other (2) |
# Regions for this institution | 5 |
# Regions for this product | 5 |
Regions Active | Lilongwe, Mchinji, Salima, Mzimba, Blantyre |
Currency | USD |
Minimum loan size | USD 100 |
Maximum loan size | 3,000 |
Shortest loan term | 6.0 months |
Longest loan term | 18.0 months |
Approx average | 15.0 months |
Grace period usage | 0 |
Average grace period | 0 |
Daily | |
Weekly | x |
Every 2 weeks | x |
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 6,000 |
Maximum loan size | 1,500,000 |
Loans less than MWK 50,000 | 30% |
MWK 50,000-150,000 | 30% |
MWK 150,000-250,000 | 15% |
MWK 250,000-350,000 | 10% |
MWK 350,000-450,000 | 10% |
Greater than MWK 450,000 | 10% |
Shortest loan term | 3.0 months |
Longest loan term | 12.0 months |
Approx average | 9.0 months |
Loans 3 months or less | 10% |
Between 4 and 6 months | 20% |
Between 7 and 9 months | 30% |
Between 10 and 12 months | 40% |
Between 13 and 18 months | 0 |
Longer than 18 months | 0 |
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 |
Lowest quoted nominal interest | 20.86% |
Highest quoted nominal interest | 20.86% |
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 | Seguro de Desgravamen |
% of loan amount - min | 0.40% |
% of loan amount - max | 0.40% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | |
Appears on Repayment Sched? | Yes |
Required for | All |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | Yes |
Do borrowers control deposit in their group? |
% loan amount deposited | 0 |
or, Fixed-amount deposited | 0 |
% loan amount deposited | 0 |
or, Fixed-amount deposited | USD 5 |
Conditions on access to deposit | End Term |
Minimum interest rate paid | 2.00% |
Maximum interest rate paid | 2.00% |
Interest payment frequency | Monthly |
Are taxes charged on this product? | No |
Lowest quoted nominal interest | 32.00% |
Highest quoted nominal interest | 42.00% |
Reason(s) why interest rate varies | Interest rate reduces if the loan appraisal and application is based on member's share value in the cooperative. |
Interest rate period | Yearly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Fee 1 | |
---|---|
Description | Processing Fee |
% of loan amount - min | 3.00% |
% of loan amount - max | 3.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | No |
Ins 1 | |
---|---|
Description | Insurance Premium |
% 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? | Yes |
Do borrowers control deposit in their group? | Yes |
% loan amount deposited | 50.00% |
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 | 0 |
Maximum interest rate paid | 0 |
Interest payment frequency | N/A |
Are taxes charged on this product? | No |
Sample 1 | Sample 2 | ||
---|---|---|---|
Loan Amount | USD 1,000 | USD 2,000 | |
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | |
Disbursement Date | 2010-09-06 | 2010-08-23 | |
Loan Term (Months) | 12.0 months | 15.0 months | |
Grace Period (Months) | 0.0 months | 0.0 months | |
Total Cost of Credit | Not Known | Not Known | |
True Price by Comp | |||
Interest and Fee Component | 21.2% | 21.1% | |
Insurance Component | 0.9% | 1.0% | |
Tax Component | 0.0% | 0.0% | |
Deposit Component | 1.0% | 0.6% | |
Full APR (int fee ins tax dep) | 23.1% | 22.7% | |
Transparency Index | 90 | 92 | |
Original Repayment Schedule | |||
MFT Pricing Calculation |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | Sample 6 | ||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Loan Amount | MWK 10,000 | MWK 15,000 | MWK 50,000 | MWK 100,000 | MWK 300,000 | MWK 500,000 | |||||
Loan Cycle (1, 2, 3, etc) | 3 | 1 | 1 | 9 | 3 | 16 | |||||
Disbursement Date | 2012-12-12 | 2012-07-21 | 2012-08-21 | 2012-09-06 | 2012-08-08 | 2012-07-04 | |||||
Loan Term (Months) | 3.0 months | 4.1 months | 6.0 months | 12.0 months | 12.0 months | 13.0 months | |||||
Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | 0.0 months | 0.0 months | 0.6 months | |||||
Total Cost of Credit | MWK 1,550 | MWK 2,850 | MWK 13,000 | MWK 47,000 | MWK 141,000 | MWK 205,000 | |||||
True Price by Comp | |||||||||||
Interest price component | 60.3% | 63.0% | 66.5% | 68.5% | 68.3% | 54.5% | |||||
Fee Component | 18.6% | 14.9% | 11.0% | 6.3% | 6.3% | 5.6% | |||||
Insurance Component | 12.7% | 10.2% | 7.5% | 4.4% | 4.3% | 3.9% | |||||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
Deposit Component | 196.5% | 208.9% | 200.9% | 155.1% | 153.9% | 123.8% | |||||
Full APR (int fee ins tax dep) | 288.1% | 297.0% | 285.9% | 234.3% | 232.8% | 187.8% | |||||
Transparency Index | 11 | 11 | 11 | 14 | 14 | 17 | |||||
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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