Number borrowers | 122 |
Loan Amount (range) | MWK 1,120 - 30,000 |
Loan Term (range) | 2 - 5 |
Other Services (text summary) | Credit Educ, Credit Ins |
Annual Interest & Method | 36.00% 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) | 298.2% - 308.4% |
Transparency Index (min/max) | 11 - 26 |
Transparency Index (average) | 11 |
10,150 |
INR 5,000 - 15,000 |
12 |
Credit Educ, Group Mtgs, Credit Ins |
26.0% annual, Decl Bal |
0.88% upfront |
1.20% upfront |
12.36% fees |
N/A |
25.8% - 27.3% |
1.4% - 2.4% |
2.1% - 3.5% |
0.2% - 0.4% |
30.1% - 30.5% |
79 - 88 |
85 |
Outstanding portfolio (MWK) | MWK 1,390,686 |
Portfolio (USD) | USD 3,565.86 |
Active Clients with Loans | 122 |
Approximate % Female Clients | 40% - 60% |
Approximate % Urban Clients | 80% - 100% |
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other |
Any purpose | |
Income generation | |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | x |
Other | |
Other (2) |
Credit education | x |
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 | x |
Must own a home or land | |
Must be a salaried worker | x |
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 76,016,641 |
Portfolio (USD) | USD 1,434,276.25 |
Active Clients with Loans | 10,150 |
Approximate % Female Clients | 80% - 100% |
Approximate % Urban Clients | 0% - 20% |
Individual | |
Solidarity group | x |
Village banking | |
Self help group | |
Other | Joint Liability Groups (JLGs) |
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
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 | |
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 | Could be used in income generating activities. |
Other (2) |
# Regions for this institution | 1 |
# Regions for this product | 1 |
Regions Active | Karnataka |
Currency | MWK |
Minimum loan size | MWK 1,120 |
Maximum loan size | 30,000 |
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 | 2.0 months |
Longest loan term | 5.0 months |
Approx average | 4.0 months |
Loans 3 months or less | 100% |
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 | 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 5,000 |
Maximum loan size | 15,000 |
Loans less than INR 5,000 | 0 |
INR 5,000-15,000 | 100% |
INR 15,000-25,000 | 0 |
INR 25,000-35,000 | 0 |
INR 35,000-45,000 | 0 |
Greater than INR 45,000 | 0 |
Shortest loan term | 12.0 months |
Longest loan term | 12.0 months |
Approx average | 12.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 0 |
Between 7 and 9 months | 0 |
Between 10 and 12 months | 100% |
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 | |
Every 2 months | |
Quarterly | |
Every 6 months | |
Every 12 months | |
Single end payment | |
Irregular payments |
Lowest quoted nominal interest | 36.00% |
Highest quoted nominal interest | 36.00% |
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? | Yes |
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 | N/A |
or, Fixed-amount deposited | N/A |
Conditions on access to deposit | Access During |
Minimum interest rate paid | N/A |
Maximum interest rate paid | N/A |
Interest payment frequency | N/A |
Are taxes charged on this product? | No |
Lowest quoted nominal interest | 26.00% |
Highest quoted nominal interest | 26.00% |
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 | 0.88% |
% of loan amount - max | 0.88% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | No |
Ins 1 | |
---|---|
Description | Credit 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? | No |
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 | Sample 4 | ||||
---|---|---|---|---|---|---|---|
Loan Amount | MWK 8,000 | MWK 9,000 | MWK 17,000 | MWK 30,000 | |||
Loan Cycle (1, 2, 3, etc) | 1 | 9 | 7 | 1 | |||
Disbursement Date | 2012-09-18 | 2012-04-13 | 2012-09-07 | 2012-08-08 | |||
Loan Term (Months) | 3.0 months | 3.0 months | 3.0 months | 3.1 months | |||
Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | 0.0 months | |||
Total Cost of Credit | MWK 1,300 | MWK 1,395 | MWK 2,762.50 | MWK 4,875 | |||
True Price by Comp | |||||||
Interest price component | 64.8% | 60.6% | 64.8% | 64.1% | |||
Fee Component | 18.7% | 18.8% | 18.7% | 18.5% | |||
Insurance Component | 12.9% | 12.8% | 12.9% | 12.7% | |||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
Deposit Component | 212.0% | 206.0% | 212.0% | 209.0% | |||
Full APR (int fee ins tax dep) | 308.4% | 298.2% | 308.4% | 304.3% | |||
Transparency Index | 12 | 12 | 12 | 12 | |||
Original Repayment Schedule | |||||||
MFT Pricing Calculation |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | ||||
---|---|---|---|---|---|---|---|
Loan Amount | INR 5,000 | INR 5,000 | INR 10,000 | INR 10,000 | |||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
Disbursement Date | 2012-10-12 | 2012-10-18 | 2012-10-17 | 2012-10-12 | |||
Loan Term (Months) | 12.0 months | 12.0 months | 13.0 months | 12.0 months | |||
Grace Period (Months) | 0.1 months | 0.2 months | 0.4 months | 0.1 months | |||
Total Cost of Credit | INR 788 | INR 796 | INR 1,688 | INR 1,609 | |||
True Price by Comp | |||||||
Interest price component | 25.9% | 25.9% | 25.8% | 25.9% | |||
Fee Component | 1.8% | 1.8% | 1.7% | 1.8% | |||
Insurance Component | 2.6% | 2.5% | 2.4% | 2.5% | |||
Tax Component | 0.2% | 0.2% | 0.2% | 0.2% | |||
Deposit Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
Full APR (int fee ins tax dep) | 30.5% | 30.4% | 30.1% | 30.4% | |||
MFIN MFI Earning (Annualised) | 27.7% | 27.7% | 27.5% | 27.7% | |||
MFIN Cost to Borrower (Annualised) | 30.5% | 30.4% | 30.1% | 30.4% | |||
Transparency Index | 85 | 85 | 86 | 85 | |||
MFIN Transparency Index | 100 | 100 | 100 | 100 | |||
Original Repayment Schedule | |||||||
MFT Pricing Calculation |
Key Statistics | |
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# 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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