| Number borrowers | 150 |
| Loan Amount (range) | GHS 50 - 1,000 |
| Loan Term (range) | 1 - 5 |
| Other Services (text summary) | Group Mtgs, Credit Ins, Other Training |
| Annual Interest & Method | 60.00%-120.00% annual, Flat |
| Fees | 2 fees |
| Insurance | None |
| Tax | None |
| Comp Dep | 25.00% upfront |
| Range of pricing | |
| Interest Price Component | 121.8% - 212.2% |
| Fee Component | 17.8% - 41.3% |
| Insurance Component | 0 |
| Tax Component Range | 0 |
| Full APR (int fee ins tax dep) | 259.4% - 420.1% |
| Transparency Index (min/max) | 14 - 23 |
| Transparency Index (average) | 16 |
| 47,223 |
| MWK 2,000 - 200,000 |
| 4 - 6 |
| Credit Educ, Group Mtgs, Credit Ins, Business Training, Environmental and HIV-AIDS Education |
| 54.00%-72.00% annual, Flat |
| 3.00% upfront |
| 2.00% upfront |
| None |
| 5.00% upfront |
| 63.7% - 87.9% |
| 7.4% - 16.5% |
| 5.2% - 11.4% |
| 0 |
| 125.1% |
| 43 - 75 |
| 43 |
| Outstanding portfolio (GHS) | GHS 200,000 |
| Portfolio (USD) | USD 101,522.84 |
| Active Clients with Loans | 150 |
| Approximate % Female Clients | 40% - 60% |
| Approximate % Urban Clients | 80% - 100% |
| 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 | x |
| Credit insurance | x |
| Workplace visits | |
| Business training | |
| Other training | x |
| 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 | x |
| Other | |
| Other (2) |
| # Regions for this institution | 1 |
| # Regions for this product | 1 |
| Regions Active | Greater Accra Region |
| Outstanding portfolio (MWK) | MWK 219,622,176 |
| Portfolio (USD) | USD 563,133.78 |
| Active Clients with Loans | 47,223 |
| Approximate % Female Clients | 60% - 80% |
| Approximate % Urban Clients | 0% - 20% |
| Individual | |
| Solidarity group | x |
| Village banking | x |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | Used for only working capital purpose |
| Other (2) |
| Credit education | x |
| Group meetings | x |
| Credit insurance | x |
| Workplace visits | |
| Business training | x |
| Other training | |
| Other | Environmental and HIV-AIDS Education |
| 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 | 11 |
| # Regions for this product | 13 |
| Regions Active | Dedza, Dowa, Lilongwe, Ntcheu, Salima, Balaka, Chiradzulu, MachingaMangochi, Mulanje, Thyolo, Phalombe, Zomba |
| Currency | GHS |
| Minimum loan size | GHS 50 |
| 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 | 1.0 month |
| Longest loan term | 5.0 months |
| Approx average | 5.0 months |
| Loans 3 months or less | 50% |
| Between 4 and 6 months | 50% |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 0 |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
| Grace period usage | 100% |
| Average grace period | 0.3 months |
| Daily | x |
| 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 2,000 |
| Maximum loan size | 200,000 |
| Loans less than MWK 50,000 | 40% |
| MWK 50,000-150,000 | 30% |
| MWK 150,000-250,000 | 30% |
| MWK 250,000-350,000 | 0 |
| MWK 350,000-450,000 | 0 |
| Greater than MWK 450,000 | 0 |
| Shortest loan term | 4.0 months |
| Longest loan term | 6.0 months |
| Approx average | 4.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 100% |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 0 |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
| Grace period usage | 0 |
| Average grace period | 0 |
| 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 | 5.00% |
| Highest quoted nominal interest | 10.00% |
| Reason(s) why interest rate varies | Client Risk, First-cycle loans are charged 10%, multiple-cycle loans are charged 5%, due to differing risk of default. |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | Fee 2 | ||
|---|---|---|---|
| Description | Processing Fee | Form Fee | |
| % of loan amount - min | 2.00% | 0 | |
| % of loan amount - max | 2.00% | 0 | |
| OR, Fixed amount - min | 0 | 3 | |
| Fixed amount - max | 0 | 3 | |
| Reason for variation | N/A | N/A | |
| Appears on Repayment Sched? | No | 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 | 25.00% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | Final Pmt |
| Minimum interest rate paid | 0 |
| Maximum interest rate paid | 0 |
| Interest payment frequency | N/A |
| Are taxes charged on this product? | No |
| Lowest quoted nominal interest | 4.50% |
| Highest quoted nominal interest | 6.00% |
| Reason(s) why interest rate varies | Time as Client, Loan Size, Client Risk |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | Loan 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 | Credit Insurance -Life&Health |
| % 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 | 5.00% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | Final Pmt |
| 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 | Sample 3 | Sample 4 | ||||
|---|---|---|---|---|---|---|---|
| Loan Amount | GHS 200 | GHS 400 | GHS 500 | GHS 1,000 | |||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
| Disbursement Date | 2012-05-03 | 2012-06-19 | 2012-04-23 | 2012-08-22 | |||
| Loan Term (Months) | 2.2 months | 3.2 months | 4.1 months | 2.2 months | |||
| Grace Period (Months) | 0.1 months | 0.1 months | 0.0 months | 0.1 months | |||
| Total Cost of Credit | GHS 47 | GHS 131 | GHS 213 | GHS 143 | |||
| True Price by Comp | |||||||
| Interest price component | 204.1% | 210.7% | 212.2% | 121.8% | |||
| Fee Component | 41.3% | 23.5% | 17.8% | 25.5% | |||
| Insurance Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
| Deposit Component | 174.7% | 157.6% | 136.3% | 112.1% | |||
| Full APR (int fee ins tax dep) | 420.1% | 391.8% | 366.3% | 259.4% | |||
| Transparency Index | 14 | 15 | 16 | 23 | |||
| Original Repayment Schedule | |||||||
| MFT Pricing Calculation |
| Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | |||||
|---|---|---|---|---|---|---|---|---|---|
| Loan Amount | MWK 10,000 | MWK 25,000 | MWK 50,000 | MWK 100,000 | MWK 160,000 | ||||
| Loan Cycle (1, 2, 3, etc) | 1 | 4 | 6 | Not Known | Not Known | ||||
| Disbursement Date | 2012-08-30 | 2012-08-30 | 2012-08-30 | 2012-08-30 | 2012-08-30 | ||||
| Loan Term (Months) | 3.7 months | 3.7 months | 3.7 months | 3.7 months | 3.7 months | ||||
| Grace Period (Months) | -0.1 months | -0.1 months | 0.0 months | -0.1 months | 0.0 months | ||||
| Total Cost of Credit | MWK 2,300 | MWK 5,750 | MWK 11,500 | MWK 23,000 | MWK 36,800 | ||||
| True Price by Comp | |||||||||
| Interest price component | 87.9% | 87.9% | 87.9% | 87.9% | 87.9% | ||||
| Fee Component | 16.5% | 16.5% | 16.5% | 16.5% | 16.5% | ||||
| Insurance Component | 11.4% | 11.4% | 11.4% | 11.4% | 11.4% | ||||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||||
| Deposit Component | 9.3% | 9.3% | 9.3% | 9.3% | 9.3% | ||||
| Full APR (int fee ins tax dep) | 125.1% | 125.1% | 125.1% | 125.1% | 125.1% | ||||
| Transparency Index | 43 | 43 | 43 | 43 | 43 | ||||
| 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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