| 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 |
| 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 (PKR) | PKR 6,987,900 |
| Portfolio (USD) | USD 68,621.18 |
| Active Clients with Loans | 65 |
| Approximate % Female Clients | N/A |
| Approximate % Urban Clients | N/A |
| Any purpose | |
| Income generation | |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | x |
| Education | |
| Other household finance | |
| Other | |
| Other (2) |
| 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 | 6 |
| # Regions for this product | N/A |
| Regions Active |
| 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 |
| 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 |
| 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 |
| Key Statistics | |
|---|---|
| # Samples: | |
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| # 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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