| 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 |
| 391 |
| INR 2,000 - 5,000 |
| 12 |
| Credit Ins |
| 26.0% annual, Decl Bal |
| 1.00% upfront |
| 9.34-23.35 upfront |
| 12.36% fees |
| N/A |
| 25.8% - 29.9% |
| 1.0% - 5.3% |
| 0.8% - 1.3% |
| 0.1% - 0.7% |
| 28.8% - 29.2% |
| 81 - 93 |
| 89 |
| 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 26,971,403 |
| Portfolio (USD) | USD 508,894.40 |
| Active Clients with Loans | 391 |
| 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 | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) |
| Credit education | |
| Group meetings | |
| Credit insurance | x |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | |
| Other (2) | |
| No other services |
| Men | |
| Women | x |
| Must run a business | x |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | x |
| Household income <60,000 INR | |
| Household income <120,000 INR | x |
| Must live in rural area | |
| Must lives in urban area | x |
| Other | |
| Other (2) |
| # Regions for this institution | 2 |
| # Regions for this product | 2 |
| Regions Active | Gujarat, Maharashtra |
| 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 2,000 |
| Maximum loan size | 5,000 |
| Loans less than INR 5,000 | 100% |
| INR 5,000-15,000 | 0 |
| 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 | 100% |
| 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 | 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 | 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 |
| % of loan amount - min | 0 |
| % of loan amount - max | 0 |
| OR, Fixed amount - min | 9.34 |
| Fixed amount - max | 23.35 |
| Reason for variation | Rs 4.67 for every Rs. 1000 for a year. |
| 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 | 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 | |||
|---|---|---|---|---|---|
| Loan Amount | INR 2,000 | INR 3,000 | INR 5,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2012-11-24 | 2012-11-24 | 2012-11-24 | ||
| Loan Term (Months) | 13.0 months | 13.0 months | 13.0 months | ||
| Grace Period (Months) | 0.6 months | 0.5 months | 0.6 months | ||
| Total Cost of Credit | INR 343.81 | INR 520.71 | INR 880.53 | ||
| True Price by Comp | |||||
| Interest price component | 26.2% | 26.2% | 26.0% | ||
| Fee Component | 1.9% | 1.8% | 1.8% | ||
| Insurance Component | 0.9% | 0.9% | 0.8% | ||
| Tax Component | 0.2% | 0.2% | 0.2% | ||
| Deposit Component | 0.0% | 0.0% | 0.0% | ||
| Full APR (int fee ins tax dep) | 29.2% | 29.1% | 28.8% | ||
| MFIN MFI Earning (Annualised) | 28.1% | 28.0% | 27.8% | ||
| MFIN Cost to Borrower (Annualised) | 29.2% | 29.1% | 28.8% | ||
| Transparency Index | 89 | 89 | 90 | ||
| MFIN Transparency Index | 99 | 99 | 100 | ||
| 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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