2. FINCOOP
Please note that the information you are viewing is 143 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE
  2. Adhikar
Please note that the information you are viewing is 139 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Finance Savings and Credit Cooperative MUSCCO HouseLilongwePO Box 1292
Data approved: 2013-01-04
Data version: 2
Age of data: 143 months
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Institution

Adhikar Microfinance Private Limited Plot No - 77/180/970Subudhipur, TamandoBhubaneswar, Odisha752054
Data approved: 2012-12-04
Data version: 1
Age of data: 139 months

Product

Mwai wa Mayi (Female Group Loan) Product 2 of 7 « Prev | Next »

Product

IGL Product 1 of 1 « Prev | Next »

Product Summary

Number borrowers1,240
Loan Amount (range)MWK 5,000 - 500,000
Loan Term (range)6
Other Services (text summary)Credit Educ, Group Mtgs, Credit Ins, Business Training, Other Training
Annual Interest & Method45.00% annual, Flat
Fees3.00% upfront
Insurance2.00% upfront
TaxNone
Comp Dep33.33% upfront
Range of pricing 
Interest Price Component54.5% - 72.2%
Fee Component5.6% - 18.8%
Insurance Component3.9% - 12.9%
Tax Component Range0
Full APR (int fee ins tax dep)177.0% - 177.8%
Transparency Index (min/max)11 - 26
Transparency Index (average)25

Product Summary

35,358
INR 7,000 - 15,000
12
Group Mtgs, Credit Ins, Business Training
26.0% annual, Decl Bal
1.00% upfront
0.50% upfront
12.36% fees
N/A
 
26.0%
2.0%
1.0% - 1.1%
0.2% - 0.3%
29.3%
89
89

Product Details

Key Statistics
Outstanding portfolio (MWK)MWK 12,733,636.55
Portfolio (USD)USD 32,650.35
Active Clients with Loans1,240
Approximate % Female Clients80% - 100%
Approximate % Urban Clients60% - 80%
Methodology
Individual
Solidarity groupx
Village bankingx
Self help group
Other
Description
Group loan for women in urban and rural areas. This loan targets small and medium entrepreneurs only.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit educationx
Group meetingsx
Credit insurancex
Workplace visits
Business trainingx
Other trainingx
Other
Other (2)
No other services
Eligibility
Men
Womenx
Must run a businessx
Must own a home or land
Must be a salaried worker
Must be specific age group
Other
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution5
# Regions for this product5
Regions ActiveLilongwe, Mchinji, Salima, Mzimba, Blantyre

Product Details

Key Statistics
Outstanding portfolio (INR)INR 141,753,084
Portfolio (USD)USD 2,674,586.49
Active Clients with Loans35,358
Approximate % Female Clients100%
Approximate % Urban Clients20% - 40%
Methodology
Individual
Solidarity groupx
Village banking
Self help group
OtherJoint Liability Group
Description
IGL is provided preliminarily to women clients who are married and aged between 18 to 55 Years. Client should also be below the poverty line and involved in legitimate income generating activities.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit education
Group meetingsx
Credit insurancex
Workplace visits
Business trainingx
Other training
Other
Other (2)
No other services
Eligibility
Men
Womenx
Must run a business
Must own a home or land
Must be a salaried worker
Must be specific age groupx
Household income <60,000 INRx
Household income <120,000 INRx
Must live in rural area
Must lives in urban area
Other
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution2
# Regions for this product2
Regions ActiveGujarat, Orissa

Loan Conditions

Loan Amount
CurrencyMWK
Minimum loan sizeMWK 5,000
Maximum loan size500,000
Distribution at Disbursement (Est.)
Loans less than MWK 50,00090%
MWK 50,000-150,00010%
MWK 150,000-250,0000
MWK 250,000-350,0000
MWK 350,000-450,0000
Greater than MWK 450,0000
Loan Term and Grace Period
Shortest loan term6.0 months
Longest loan term6.0 months
Approx average6.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months100%
Between 7 and 9 months0
Between 10 and 12 months0
Between 13 and 18 months0
Longer than 18 months0
Grace Period
Grace period usage0
Average grace periodDK
Repayment Frequency
Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Loan Conditions

Loan Amount
CurrencyINR
Minimum loan sizeINR 7,000
Maximum loan size15,000
Distribution at Disbursement (Est.)
Loans less than INR 5,0000
INR 5,000-15,000100%
INR 15,000-25,0000
INR 25,000-35,0000
INR 35,000-45,0000
Greater than INR 45,0000
Loan Term and Grace Period
Shortest loan term12.0 months
Longest loan term12.0 months
Approx average12.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months0
Between 7 and 9 months0
Between 10 and 12 months100%
Between 13 and 18 months0
Longer than 18 months0
Grace Period
Grace period usage0
Average grace period0
Repayment Frequency
Daily
Weeklyx
Every 2 weeks
Every 4 weeks
Monthly
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest
Lowest quoted nominal interest45.00%
Highest quoted nominal interest45.00%
Interest rate periodYearly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionProcessing Fee
% of loan amount - min3.00%
% of loan amount - max3.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?No
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionInsurance Premium
% of loan amount - min2.00%
% of loan amount - max2.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?No
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forAll
CriteriaN/A
Is deposit indicated on the repayment schedule?Yes
Do borrowers control deposit in their group?Yes
Deposit BEFORE or AT Disbursement
% loan amount deposited33.33%
or, Fixed-amount depositedN/A
Deposits DURING period payments
% loan amount depositedN/A
or, Fixed-amount depositedN/A
Conditions on access to depositEnd Term
Interest Paid on Deposit
Minimum interest rate paidN/A
Maximum interest rate paidN/A
Interest payment frequencyN/A
Taxes
Are taxes charged on this product?No

Pricing Information

Interest
Lowest quoted nominal interest26.00%
Highest quoted nominal interest26.00%
Interest rate periodYearly
Interest Rate Calculation MethodDecl Bal
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionProcessing Fee
% of loan amount - min1.00%
% of loan amount - max1.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?Yes
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionLife Insurance
% of loan amount - min0.50%
% of loan amount - max0.50%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?Yes
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forNever
CriteriaN/A
Is deposit indicated on the repayment schedule?N/A
Do borrowers control deposit in their group?N/A
Deposit BEFORE or AT Disbursement
% loan amount depositedN/A
or, Fixed-amount depositedN/A
Deposits DURING period payments
% loan amount depositedN/A
or, Fixed-amount depositedN/A
Conditions on access to depositN/A
Interest Paid on Deposit
Minimum interest rate paidN/A
Maximum interest rate paidN/A
Interest payment frequencyN/A
Taxes
Are taxes charged on this product?Yes
Percentage of fees12.4%
All or some fees taxedSome

Full Pricing Data

Mwai wa Mayi (Female Group Loan) samples
Sample 1Sample 2Sample 3Sample 4Sample 5Sample 6
Loan AmountMWK 12,000MWK 25,000MWK 48,000MWK 130,500MWK 294,000MWK 271,000
Loan Cycle (1, 2, 3, etc)333333
Disbursement Date2012-07-312012-07-312012-09-302012-09-302012-09-302012-09-30
Loan Term (Months)6.0 months6.0 months6.0 months6.0 months6.0 months6.0 months
Grace Period (Months)0.0 months0.0 months0.0 months0.0 months0.0 months0.0 months
Total Cost of CreditMWK 3,300MWK 6,875MWK 13,200MWK 35,888MWK 80,850MWK 74,525
True Price by Comp           
Interest price component71.1%71.1%71.7%71.7%71.7%71.7%
Fee Component11.0%11.0%11.1%11.1%11.1%11.1%
Insurance Component7.5%7.5%7.7%7.7%7.7%7.7%
Tax Component0.0%0.0%0.0%0.0%0.0%0.0%
Deposit Component87.4%87.4%87.3%87.3%87.3%87.3%
Full APR (int fee ins tax dep)177.0%177.0%177.8%177.8%177.8%177.8%
Transparency Index252525252525
            
Original Repayment SchedulePDFPDFPDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDFPDFPDF

Full Pricing Data

IGL samples
Sample 1Sample 2Sample 3
Loan AmountINR 10,000INR 10,000INR 15,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot Known
Disbursement Date2013-04-182013-03-272013-04-16
Loan Term (Months)12.0 months12.0 months12.0 months
Grace Period (Months)0.0 months0.0 months0.0 months
Total Cost of CreditINR 1,562.36INR 1,562.36INR 2,343.54
True Price by Comp     
Interest price component26.0%26.0%26.0%
Fee Component2.0%2.0%2.0%
Insurance Component1.1%1.1%1.0%
Tax Component0.2%0.2%0.3%
Deposit Component0.0%0.0%0.0%
Full APR (int fee ins tax dep)29.3%29.3%29.3%
MFIN MFI Earning (Annualised)28.0%28.0%28.0%
MFIN Cost to Borrower (Annualised)29.3%29.3%29.3%
Transparency Index898989
MFIN Transparency Index100100100
      
Original Repayment SchedulePDFPDFPDF
MFT Pricing CalculationPDFPDFPDF
* The APR stated here is an MFTransparency term, definition and formula
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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
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Country InstAbbrev SampleCode Loan Amount USD Loan Term (Months) SampClients FullAPR DateApproved
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