| Number borrowers | 790 |
| Loan Amount (range) | MWK 10,000 - 50,000 |
| Loan Term (range) | 6 |
| Other Services (text summary) | Credit Educ, Group Mtgs, Credit Ins, Business Training, Environmental & HIV & AIDS education |
| Annual Interest & Method | 60.00% annual, Flat |
| Fees | 3.00% upfront |
| Insurance | 2.00% upfront |
| Tax | None |
| Comp Dep | 5.00% upfront |
| Range of pricing | |
| Interest Price Component | 63.7% - 87.9% |
| Fee Component | 7.4% - 16.5% |
| Insurance Component | 5.2% - 11.4% |
| Tax Component Range | 0 |
| Full APR (int fee ins tax dep) | 80.3% |
| Transparency Index (min/max) | 43 - 75 |
| Transparency Index (average) | 74 |
| 505,914 |
| INR 5,000 - 50,000 |
| 12 - 24 |
| Credit Educ, Group Mtgs, Credit Ins |
| 26.0% annual, Decl Bal |
| 1.00% upfront |
| 0.33% upfront |
| 12.36% fees |
| N/A |
| 27.5% - 29.6% |
| 1.0% - 5.9% |
| 0 - 1.7% |
| 0.1% - 0.7% |
| 30.4% - 33.4% |
| 57 - 86 |
| 83 |
| Outstanding portfolio (MWK) | MWK 12,021,238 |
| Portfolio (USD) | USD 30,823.69 |
| Active Clients with Loans | 790 |
| 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 & HIV & AIDS education |
| 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 | 11 |
| # Regions for this product | 8 |
| Regions Active | Dedza, Dowa, Lilongwe, Ntcheu, Mulanje, Thyolo, Phalombe, Zomba |
| Outstanding portfolio (INR) | INR 6,309,129,714 |
| Portfolio (USD) | USD 119,040,183.30 |
| Active Clients with Loans | 505,914 |
| Approximate % Female Clients | 100% |
| Approximate % Urban Clients | 100% |
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | x |
| Consumer loan | x |
| Agriculture | |
| Education | x |
| Other household finance | x |
| Other | |
| Other (2) |
| Credit education | x |
| Group meetings | x |
| Credit insurance | x |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | |
| Other (2) | |
| No other services |
| Men | |
| Women | x |
| Must run a business | |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | |
| Household income <60,000 INR | |
| Household income <120,000 INR | |
| Must live in rural area | |
| Must lives in urban area | |
| Other | Group members must live within each other's vicinity. |
| Other (2) | Must demonstrate capacity to repay. |
| # Regions for this institution | 9 |
| # Regions for this product | 9 |
| Regions Active | Gujarat, Haryana, Karnataka, Madhya Pradesh, MaharashtraPunjab, Tamil Nadu, Uttar Pradesh, National Capital Territory of Delhi |
| Currency | MWK |
| Minimum loan size | MWK 10,000 |
| Maximum loan size | 50,000 |
| Loans less than MWK 50,000 | 100% |
| MWK 50,000-150,000 | 0 |
| MWK 150,000-250,000 | 0 |
| MWK 250,000-350,000 | 0 |
| MWK 350,000-450,000 | 0 |
| Greater than MWK 450,000 | 0 |
| Shortest loan term | 6.0 months |
| Longest loan term | 6.0 months |
| Approx average | 6.0 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 | |
| Every 4 weeks | |
| Monthly | x |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | x |
| Irregular payments |
| Currency | INR |
| Minimum loan size | INR 5,000 |
| Maximum loan size | 50,000 |
| Loans less than INR 5,000 | 0 |
| INR 5,000-15,000 | 70% |
| INR 15,000-25,000 | 20% |
| INR 25,000-35,000 | 10% |
| INR 35,000-45,000 | 0 |
| Greater than INR 45,000 | 0 |
| Shortest loan term | 12.0 months |
| Longest loan term | 24.0 months |
| Approx average | 15.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 0 |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 70% |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 30% |
| Grace period usage | 70% |
| 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 | 5.00% |
| Highest quoted nominal interest | 5.00% |
| 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 |
| Lowest quoted nominal interest | 26.00% |
| Highest quoted nominal interest | 26.00% |
| Reason(s) why interest rate varies | Time as Client |
| 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 | 1.00% |
| % of loan amount - max | 1.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | Yes |
| Ins 1 | |
|---|---|
| Description | Insurance premium |
| % of loan amount - min | 0.33% |
| % of loan amount - max | 0.33% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | Premium is 0.325% of loan amount. If cover is for both borrower & co-borrower for 24 months, the total will be 0.325% of loan amount times 4. |
| 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? | Yes |
| Percentage of fees | 12.4% |
| All or some fees taxed | Some |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | MWK 9,000 | MWK 25,000 | MWK 50,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2011-12-14 | 2011-12-14 | 2011-12-14 | ||
| Loan Term (Months) | 5.6 months | 5.6 months | 5.6 months | ||
| Grace Period (Months) | 4.6 months | 4.6 months | 4.6 months | ||
| Total Cost of Credit | MWK 3,150 | MWK 8,750 | MWK 17,500 | ||
| True Price by Comp | |||||
| Interest price component | 63.7% | 63.7% | 63.7% | ||
| Fee Component | 7.4% | 7.4% | 7.4% | ||
| Insurance Component | 5.2% | 5.2% | 5.2% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 4.0% | 4.0% | 4.0% | ||
| Full APR (int fee ins tax dep) | 80.3% | 80.3% | 80.3% | ||
| Transparency Index | 75 | 75 | 75 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| Sample 1 | Sample 2 | Sample 3 | Sample 4 | ||||
|---|---|---|---|---|---|---|---|
| Loan Amount | INR 15,000 | INR 20,000 | INR 25,000 | INR 30,000 | |||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
| Disbursement Date | 2013-04-01 | 2013-04-04 | 2013-04-01 | 2013-04-01 | |||
| Loan Term (Months) | 12.0 months | 24.0 months | 24.0 months | 24.0 months | |||
| Grace Period (Months) | 0.0 months | -0.1 months | 0.0 months | 0.0 months | |||
| Total Cost of Credit | INR 2,908.54 | INR 6,974.72 | INR 8,795.90 | INR 10,552 | |||
| True Price by Comp | |||||||
| Interest price component | 29.6% | 27.9% | 27.9% | 27.9% | |||
| Fee Component | 1.9% | 1.1% | 1.0% | 1.0% | |||
| Insurance Component | 1.7% | 1.4% | 1.4% | 1.4% | |||
| Tax Component | 0.2% | 0.1% | 0.1% | 0.1% | |||
| Deposit Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
| Full APR (int fee ins tax dep) | 33.4% | 30.5% | 30.4% | 30.4% | |||
| MFIN MFI Earning (Annualised) | 31.5% | 29.0% | 28.9% | 28.9% | |||
| MFIN Cost to Borrower (Annualised) | 33.4% | 30.5% | 30.4% | 30.4% | |||
| Transparency Index | 78 | 85 | 86 | 86 | |||
| MFIN Transparency Index | 88 | 93 | 93 | 93 | |||
| 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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