| Number borrowers | 615 |
| Loan Amount (range) | USD 100 - 15,000 |
| Loan Term (range) | 1 - 48 |
| Other Services (text summary) | Credit Ins, Tech Asst Visits |
| Annual Interest & Method | 20.1%-25.0% annual, Decl Bal |
| Fees | 4.00% upfront 12.00 upfront |
| Insurance | None |
| Tax | None |
| Comp Dep | 6.7% upfront |
| Range of pricing | |
| Interest Price Component | N/A |
| Fee Component | 20.3% - 26.9% (Int+Fee) |
| Insurance Component | 0 - 11.0% |
| Tax Component Range | 0 |
| Full APR (int fee ins tax dep) | 22.5% - 36.2% |
| Transparency Index (min/max) | 0 - N/A |
| Transparency Index (average) | 71 |
| 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 777,883.75 |
| Portfolio (USD) | USD 777,883.75 |
| Active Clients with Loans | 615 |
| Approximate % Female Clients | 40% - 60% |
| Approximate % Urban Clients | 20% - 40% |
| 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 | Usar solo para capital de trabajo |
| Other (2) |
| Credit education | |
| Group meetings | |
| Credit insurance | x |
| Workplace visits | x |
| Business training | |
| 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 | |
| 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 100 |
| Maximum loan size | 15,000 |
| Shortest loan term | 1.0 month |
| Longest loan term | 48.0 months |
| Approx average | 18.0 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 | 20.05% |
| Highest quoted nominal interest | 25.00% |
| 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 | Fee 2 | ||
|---|---|---|---|
| Description | Seguro de Desgravamen | Seguro de Vida y Seguro de Accidentes Personales (prima anual) | |
| % of loan amount - min | 4.00% | 0 | |
| % of loan amount - max | 4.00% | 0 | |
| OR, Fixed amount - min | 0 | 12 | |
| Fixed amount - max | 0 | 12 | |
| Reason for variation | N/A | ||
| Appears on Repayment Sched? | No | 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 | 6.70% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | Access During |
| Minimum interest rate paid | 4.00% |
| Maximum interest rate paid | 4.00% |
| Interest payment frequency | Monthly |
| 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 450 | USD 1,000 | USD 2,000 | USD 4,000 | USD 6,500 | USD 10,010 | |||||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | Not Known | |||||
| Disbursement Date | 2010-04-22 | 2010-04-28 | 2010-04-06 | 2010-04-28 | 2010-04-23 | 2010-05-04 | |||||
| Loan Term (Months) | 10.0 months | 12.0 months | 24.0 months | 36.0 months | 36.0 months | 48.0 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 | 26.8% | 26.9% | 26.9% | 23.9% | 23.8% | 20.3% | |||||
| Insurance Component | 5.7% | 2.4% | 0.7% | 0.3% | 0.0% | 0.1% | |||||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
| Deposit Component | 3.6% | 3.3% | 3.0% | 2.5% | 1.6% | 2.0% | |||||
| Full APR (int fee ins tax dep) | 36.2% | 32.5% | 30.6% | 26.6% | 25.5% | 22.5% | |||||
| Transparency Index | 55 | 62 | 66 | 75 | 79 | 89 | |||||
| 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 | |
|---|---|
| # 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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