| Number borrowers | 924 |
| Loan Amount (range) | USD 100 - 15,000 |
| Loan Term (range) | 1 - 49 |
| 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 5.00 ongoing |
| Range of pricing | |
| Interest Price Component | N/A |
| Fee Component | 18.8% - 26.9% (Int+Fee) |
| Insurance Component | 0 - 11.0% |
| Tax Component Range | 0 |
| Full APR (int fee ins tax dep) | 20.7% - 41.2% |
| Transparency Index (min/max) | 0 - N/A |
| Transparency Index (average) | 69 |
| 34,795 |
| MWK 140,000 - 2,800,000 |
| 4 - 9 |
| Credit Educ, Group Mtgs, Credit Ins, Business Training |
| 48.75% annual, Flat |
| 3.50% upfront |
| None |
| None |
| 15.00% upfront |
| 31.6% - 67.3% |
| 2.0% - 47.8% |
| 0 - 3.7% |
| 0 |
| 90.5% - 94.1% |
| 29 - 130 |
| 52 |
| Outstanding portfolio (USD) | USD 1,214,168.88 |
| Portfolio (USD) | USD 1,214,168.88 |
| Active Clients with Loans | 924 |
| 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 | |
| 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 | Tener calificacion hasta B en central de riesgos o buro de credito |
| Other (2) |
| # Regions for this institution | N/A |
| # Regions for this product | N/A |
| Regions Active |
| Outstanding portfolio (MWK) | MWK 635,069,330 |
| Portfolio (USD) | USD 1,628,382.90 |
| Active Clients with Loans | 34,795 |
| Approximate % Female Clients | 40% - 60% |
| Approximate % Urban Clients | 20% - 40% |
| Individual | |
| 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 | x |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | |
| Other | |
| Other (2) |
| # Regions for this institution | 16 |
| # Regions for this product | 18 |
| Regions Active | Dedza, Dowa, Kasungu, Lilongwe, Mchinji, Nkhotakota, Salima, ChitipaKaronga, Mzimba, Nkhata Bay, Rumphi, Blantyre, ChikwawaMangochi, Nsanje, Thyolo, Zomba |
| Currency | USD |
| Minimum loan size | USD 100 |
| Maximum loan size | 15,000 |
| Shortest loan term | 1.0 month |
| Longest loan term | 49.0 months |
| Approx average | 19.0 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 140,000 |
| Maximum loan size | 2,800,000 |
| Loans less than MWK 50,000 | 0 |
| MWK 50,000-150,000 | 5% |
| MWK 150,000-250,000 | 30% |
| MWK 250,000-350,000 | 30% |
| MWK 350,000-450,000 | 15% |
| Greater than MWK 450,000 | 15% |
| Shortest loan term | 4.0 months |
| Longest loan term | 9.0 months |
| Approx average | 6.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 50% |
| Between 7 and 9 months | 50% |
| Between 10 and 12 months | 0 |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
| Grace period usage | 30% |
| Average grace period | 1.0 month |
| Daily | |
| Weekly | |
| Every 2 weeks | x |
| Every 4 weeks | |
| Monthly | x |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments |
| Lowest quoted nominal interest | 20.05% |
| 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 | USD 5 |
| 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 | 3.75% |
| Highest quoted nominal interest | 3.75% |
| Interest rate period | 4 Weeks |
| 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 | 3.50% |
| % of loan amount - max | 3.50% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | Yes |
| 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 | |||||
|---|---|---|---|---|---|---|---|---|---|
| Loan Amount | USD 400 | USD 1,000 | USD 2,000 | USD 3,000 | USD 10,010 | ||||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | ||||
| Disbursement Date | 2010-05-06 | 2010-05-26 | 2010-04-13 | 2010-05-14 | 2010-05-04 | ||||
| Loan Term (Months) | 6.0 months | 12.0 months | 19.0 months | 25.0 months | 49.0 months | ||||
| Grace Period (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 | ||||
| True Price by Comp | |||||||||
| Interest and Fee Component | 25.3% | 25.5% | 26.9% | 25.5% | 18.8% | ||||
| Insurance Component | 11.0% | 2.1% | 0.8% | 0.4% | 0.1% | ||||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||||
| Deposit Component | 4.9% | 3.1% | 3.1% | 2.8% | 1.9% | ||||
| Full APR (int fee ins tax dep) | 41.2% | 30.7% | 30.8% | 28.7% | 20.7% | ||||
| Transparency Index | 49 | 65 | 65 | 70 | 97 | ||||
| Original Repayment Schedule | |||||||||
| MFT Pricing Calculation |
| Sample 1 | Sample 2 | Sample 3 | Sample 4 | ||||
|---|---|---|---|---|---|---|---|
| Loan Amount | MWK 170,000 | MWK 230,000 | MWK 390,000 | MWK 830,000 | |||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
| Disbursement Date | 2012-11-14 | 2012-10-16 | 2012-10-18 | 2012-10-11 | |||
| Loan Term (Months) | 5.9 months | 7.0 months | 9.0 months | 6.0 months | |||
| Grace Period (Months) | 0.9 months | 0.9 months | 0.8 months | 1.0 month | |||
| Total Cost of Credit | MWK 43,019.75 | MWK 66,687.60 | MWK 140,969.58 | MWK 214,035.80 | |||
| True Price by Comp | |||||||
| Interest price component | 62.4% | 64.4% | 65.9% | 61.4% | |||
| Fee Component | 11.5% | 10.3% | 8.5% | 11.1% | |||
| Insurance Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
| Deposit Component | 18.7% | 19.4% | 19.5% | 18.0% | |||
| Full APR (int fee ins tax dep) | 92.6% | 94.1% | 93.9% | 90.5% | |||
| Transparency Index | 53 | 52 | 52 | 54 | |||
| 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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