| Number borrowers | 6,836 |
| Loan Amount (range) | GHS 200 - 1,000 |
| Loan Term (range) | 6 - 8 |
| Other Services (text summary) | Credit Ins |
| Annual Interest & Method | 20.00% annual, Flat |
| Fees | None |
| Insurance | None |
| Tax | None |
| Comp Dep | 20.00% upfront |
| Range of pricing | |
| Interest Price Component | 42.4% - 67.0% |
| Fee Component | 0 - 6.0% |
| Insurance Component | 0 |
| Tax Component Range | 0 |
| Full APR (int fee ins tax dep) | 97.5% |
| Transparency Index (min/max) | 21 - 64 |
| Transparency Index (average) | 20 |
| 3,548 |
| MWK 15,000 - 4,000,000 |
| 3 - 48 |
| Credit Ins |
| 45.00% annual, Decl Bal |
| 3.00% upfront |
| None |
| None |
| N/A |
| 31.6% - 67.3% |
| 2.0% - 47.8% |
| 0 - 3.7% |
| 0 |
| 34.7% - 45.7% |
| 29 - 130 |
| 100 |
| Outstanding portfolio (GHS) | GHS 1,264,000 |
| Portfolio (USD) | USD 641,624.37 |
| Active Clients with Loans | 6,836 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 0% - 20% |
| 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 | |
| Women | x |
| Must run a business | x |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | x |
| Other | Must be 18 years of age. |
| Other (2) | Must have residence in the community near relevant branch. |
| # Regions for this institution | 1 |
| # Regions for this product | 1 |
| Regions Active | Northern Region |
| Outstanding portfolio (MWK) | MWK 513,157,530 |
| Portfolio (USD) | USD 1,315,788.54 |
| Active Clients with Loans | 3,548 |
| Approximate % Female Clients | 20% - 40% |
| Approximate % Urban Clients | 40% - 60% |
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | x |
| Income generation | |
| 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 | |
| Must own a home or land | |
| Must be a salaried worker | x |
| Must be specific age group | |
| Other | Age must be above 18 years |
| 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 | GHS |
| Minimum loan size | GHS 200 |
| Maximum loan size | 1,000 |
| Loans less than GHS 1,000 | 100% |
| GHS 1,000-5,000 | 0 |
| GHS 5,000-7,500 | 0 |
| GHS 7,500-10,000 | 0 |
| GHS 10,000-13,000 | 0 |
| Greater than GHS 13,000 | 0 |
| Shortest loan term | 6.0 months |
| Longest loan term | 8.0 months |
| Approx average | DK |
| 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 | 100% |
| Average grace period | 0.5 months |
| Daily | |
| Weekly | x |
| Every 2 weeks | |
| Every 4 weeks | |
| Monthly | |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments |
| Currency | MWK |
| Minimum loan size | MWK 15,000 |
| Maximum loan size | 4,000,000 |
| Loans less than MWK 50,000 | 10% |
| MWK 50,000-150,000 | 20% |
| MWK 150,000-250,000 | 20% |
| MWK 250,000-350,000 | 20% |
| MWK 350,000-450,000 | 10% |
| Greater than MWK 450,000 | 10% |
| 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 | 30% |
| Average grace period | 1.0 month |
| 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 | 20.00% |
| Highest quoted nominal interest | 20.00% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | Yes |
| Is rate fixed for entire loan term | Yes |
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | Yes |
| Do borrowers control deposit in their group? | No |
| % loan amount deposited | 20.00% |
| 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 | 6.00% |
| Maximum interest rate paid | 6.00% |
| Interest payment frequency | Annually |
| Are taxes charged on this product? | No |
| Lowest quoted nominal interest | 45.00% |
| Highest quoted nominal interest | 45.00% |
| 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 | 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? | 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 |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | GHS 200 | GHS 200 | GHS 200 | ||
| Loan Cycle (1, 2, 3, etc) | 1 | 1 | 1 | ||
| Disbursement Date | 2012-09-12 | 2013-02-13 | 2013-03-11 | ||
| Loan Term (Months) | 6.0 months | 6.0 months | 6.0 months | ||
| Grace Period (Months) | 0.5 months | 0.5 months | 0.5 months | ||
| Total Cost of Credit | GHS 40 | GHS 40 | GHS 40 | ||
| True Price by Comp | |||||
| Interest price component | 67.0% | 67.0% | 67.0% | ||
| Fee Component | 0.0% | 0.0% | 0.0% | ||
| Insurance Component | 0.0% | 0.0% | 0.0% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 30.5% | 30.5% | 30.5% | ||
| Full APR (int fee ins tax dep) | 97.5% | 97.5% | 97.5% | ||
| Transparency Index | 21 | 21 | 21 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | Sample 6 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Loan Amount | MWK 20,000 | MWK 50,000 | MWK 100,000 | MWK 200,000 | MWK 400,000 | MWK 950,000 | |||||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | Not Known | |||||
| Disbursement Date | 2012-08-09 | 2012-10-23 | 2012-10-26 | 2012-09-25 | 2012-10-23 | 2012-12-05 | |||||
| Loan Term (Months) | 7.0 months | 12.0 months | 25.0 months | 24.0 months | 25.0 months | 48.0 months | |||||
| Grace Period (Months) | 0.9 months | 0.4 months | 0.3 months | 1.9 months | 0.4 months | -1.0 months | |||||
| Total Cost of Credit | MWK 3,471.47 | MWK 13,075.70 | MWK 48,626.69 | MWK 92,912.55 | MWK 196,246.98 | MWK 951,640.99 | |||||
| True Price by Comp | |||||||||||
| Interest price component | 37.1% | 37.3% | 37.3% | 31.9% | 37.4% | 39.9% | |||||
| Fee Component | 8.6% | 5.7% | 3.2% | 2.8% | 3.2% | 2.1% | |||||
| Insurance Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
| 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) | 45.7% | 43.0% | 40.5% | 34.7% | 40.6% | 42.0% | |||||
| Transparency Index | 99 | 100 | 100 | 100 | 100 | 100 | |||||
| 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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