| Number borrowers | 584 |
| Loan Amount (range) | MWK 6,000 - 1,500,000 |
| Loan Term (range) | 3 - 12 |
| Other Services (text summary) | Credit Educ, Credit Ins, Business Training |
| Annual Interest & Method | 32.00%-42.00% annual, Flat |
| Fees | 3.00% upfront |
| Insurance | 2.00% upfront |
| Tax | None |
| Comp Dep | 50.00% upfront |
| Range of pricing | |
| Interest Price Component | 54.5% - 72.2% |
| Fee Component | 5.6% - 18.8% |
| Insurance Component | 3.9% - 12.9% |
| Tax Component Range | 0 |
| Full APR (int fee ins tax dep) | 187.8% - 297.0% |
| Transparency Index (min/max) | 11 - 26 |
| Transparency Index (average) | 12 |
| 8,667 |
| INR 16,000 - 30,000 |
| 24 |
| Credit Educ, Group Mtgs, Credit Ins |
| 26.0%-28.0% annual, Decl Bal |
| 1.00% upfront |
| 1.20% upfront |
| 12.36% fees |
| N/A |
| 28.0% - 28.5% |
| 1.1% - 1.6% |
| 1.3% - 1.8% |
| 0.1% - 0.2% |
| 30.6% - 31.1% |
| 81 - 85 |
| 84 |
| Outstanding portfolio (MWK) | MWK 34,181,728.34 |
| Portfolio (USD) | USD 87,645.46 |
| Active Clients with Loans | 584 |
| Approximate % Female Clients | 40% - 60% |
| Approximate % Urban Clients | 60% - 80% |
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | x |
| Consumer loan | x |
| Agriculture | |
| Education | x |
| Other household finance | |
| Other | |
| Other (2) |
| Credit education | x |
| Group meetings | |
| 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 | x |
| Must be a salaried worker | |
| Must be specific age group | |
| Other | |
| Other (2) |
| # Regions for this institution | 5 |
| # Regions for this product | 5 |
| Regions Active | Lilongwe, Mchinji, Salima, Mzimba, Blantyre |
| Outstanding portfolio (INR) | INR 69,756,172.37 |
| Portfolio (USD) | USD 1,316,154.20 |
| Active Clients with Loans | 8,667 |
| Approximate % Female Clients | 100% |
| Approximate % Urban Clients | 0% - 20% |
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | x |
| Education | |
| Other household finance | |
| 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 | x |
| Must be a salaried worker | |
| Must be specific age group | x |
| Household income <60,000 INR | x |
| Household income <120,000 INR | x |
| Must live in rural area | |
| Must lives in urban area | |
| Other | |
| Other (2) |
| # Regions for this institution | 1 |
| # Regions for this product | 4 |
| Regions Active | Madhya Pradesh, Uttar Pradesh, Uttarakhand, National Capital Territory of Delhi |
| Currency | MWK |
| Minimum loan size | MWK 6,000 |
| Maximum loan size | 1,500,000 |
| Loans less than MWK 50,000 | 30% |
| MWK 50,000-150,000 | 30% |
| MWK 150,000-250,000 | 15% |
| MWK 250,000-350,000 | 10% |
| MWK 350,000-450,000 | 10% |
| Greater than MWK 450,000 | 10% |
| Shortest loan term | 3.0 months |
| Longest loan term | 12.0 months |
| Approx average | 9.0 months |
| Loans 3 months or less | 10% |
| Between 4 and 6 months | 20% |
| Between 7 and 9 months | 30% |
| Between 10 and 12 months | 40% |
| 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 | |
| Irregular payments |
| Currency | INR |
| Minimum loan size | INR 16,000 |
| Maximum loan size | 30,000 |
| Loans less than INR 5,000 | 0 |
| INR 5,000-15,000 | 0 |
| INR 15,000-25,000 | 100% |
| INR 25,000-35,000 | 0 |
| INR 35,000-45,000 | 0 |
| Greater than INR 45,000 | 0 |
| Shortest loan term | 24.0 months |
| Longest loan term | 24.0 months |
| Approx average | 24.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 0 |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 0 |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 100% |
| Grace period usage | 0 |
| Average grace period | 0 |
| Daily | |
| Weekly | |
| Every 2 weeks | x |
| Every 4 weeks | |
| Monthly | |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments |
| Lowest quoted nominal interest | 32.00% |
| Highest quoted nominal interest | 42.00% |
| Reason(s) why interest rate varies | Interest rate reduces if the loan appraisal and application is based on member's share value in the cooperative. |
| Interest rate period | Yearly |
| 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 | 3.00% |
| % 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 | Insurance Premium |
| % 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? | Yes |
| Do borrowers control deposit in their group? | Yes |
| % loan amount deposited | 50.00% |
| 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 | 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 | 28.00% |
| Reason(s) why interest rate varies | Interest rates were revised, hence different rates |
| 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 | Life Insurance |
| % of loan amount - min | 1.20% |
| % of loan amount - max | 1.20% |
| 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? | Yes |
| Percentage of fees | 12.4% |
| All or some fees taxed | All |
| Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | Sample 6 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Loan Amount | MWK 10,000 | MWK 15,000 | MWK 50,000 | MWK 100,000 | MWK 300,000 | MWK 500,000 | |||||
| Loan Cycle (1, 2, 3, etc) | 3 | 1 | 1 | 9 | 3 | 16 | |||||
| Disbursement Date | 2012-12-12 | 2012-07-21 | 2012-08-21 | 2012-09-06 | 2012-08-08 | 2012-07-04 | |||||
| Loan Term (Months) | 3.0 months | 4.1 months | 6.0 months | 12.0 months | 12.0 months | 13.0 months | |||||
| Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | 0.0 months | 0.0 months | 0.6 months | |||||
| Total Cost of Credit | MWK 1,550 | MWK 2,850 | MWK 13,000 | MWK 47,000 | MWK 141,000 | MWK 205,000 | |||||
| True Price by Comp | |||||||||||
| Interest price component | 60.3% | 63.0% | 66.5% | 68.5% | 68.3% | 54.5% | |||||
| Fee Component | 18.6% | 14.9% | 11.0% | 6.3% | 6.3% | 5.6% | |||||
| Insurance Component | 12.7% | 10.2% | 7.5% | 4.4% | 4.3% | 3.9% | |||||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
| Deposit Component | 196.5% | 208.9% | 200.9% | 155.1% | 153.9% | 123.8% | |||||
| Full APR (int fee ins tax dep) | 288.1% | 297.0% | 285.9% | 234.3% | 232.8% | 187.8% | |||||
| Transparency Index | 11 | 11 | 11 | 14 | 14 | 17 | |||||
| Original Repayment Schedule | |||||||||||
| MFT Pricing Calculation |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | INR 20,000 | INR 25,000 | INR 30,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2013-02-28 | 2013-02-14 | 2013-02-19 | ||
| Loan Term (Months) | 25.0 months | 25.0 months | 25.0 months | ||
| Grace Period (Months) | -0.2 months | 0.0 months | -0.1 months | ||
| Total Cost of Credit | INR 6,768.72 | INR 8,460.90 | INR 10,153.08 | ||
| True Price by Comp | |||||
| Interest price component | 28.5% | 28.0% | 28.3% | ||
| Fee Component | 1.1% | 1.1% | 1.1% | ||
| Insurance Component | 1.4% | 1.3% | 1.3% | ||
| Tax Component | 0.1% | 0.2% | 0.1% | ||
| Deposit Component | 0.0% | 0.0% | 0.0% | ||
| Full APR (int fee ins tax dep) | 31.1% | 30.6% | 30.8% | ||
| MFIN MFI Earning (Annualised) | 29.6% | 29.1% | 29.4% | ||
| MFIN Cost to Borrower (Annualised) | 31.1% | 30.6% | 30.8% | ||
| Transparency Index | 84 | 85 | 84 | ||
| MFIN Transparency Index | 98 | 100 | 99 | ||
| 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 |
|---|---|---|---|---|---|---|---|
| X Axis | ||||||
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| to ∞ | ||||||
