Number borrowers | 562 |
Loan Amount (range) | MWK 5,000 - 1,500,000 |
Loan Term (range) | 3 - 12 |
Other Services (text summary) | Credit Educ |
Annual Interest & Method | 38.00% 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) | 223.1% - 291.3% |
Transparency Index (min/max) | 11 - 26 |
Transparency Index (average) | 16 |
2,000 |
KES 300,000 - 20,000,000 |
6 - 48 |
Credit Educ, Credit Ins, Tech Asst Visits |
10.6% annual, Flat |
3 fees |
None |
None |
N/A |
N/A |
23.8% - 27.7% (Int+Fee) |
0 |
0 |
23.8% - 27.7% |
23 - 77 |
41 |
Outstanding portfolio (MWK) | MWK 27,177,900.39 |
Portfolio (USD) | USD 69,686.92 |
Active Clients with Loans | 562 |
Approximate % Female Clients | 20% - 40% |
Approximate % Urban Clients | 40% - 60% |
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other |
Any purpose | x |
Income generation | |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | |
Other (2) |
Credit education | x |
Group meetings | |
Credit insurance | |
Workplace visits | |
Business training | |
Other training | |
Other | |
Other (2) | |
No other services |
Men | x |
Women | x |
Must run a business | |
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 (KES) | KES 1,100,000,000 |
Portfolio (USD) | USD 13,285,024.15 |
Active Clients with Loans | 2,000 |
Approximate % Female Clients | 20% - 40% |
Approximate % Urban Clients | 60% - 80% |
Individual | x |
Solidarity group | x |
Village banking | |
Self help group | |
Other | Limited companies |
Any purpose | |
Income generation | |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | Only for purposes of buying assets(motor vehicles) |
Other (2) |
Credit education | x |
Group meetings | |
Credit insurance | x |
Workplace visits | x |
Business training | |
Other training | |
Other | |
Other (2) | |
No other services |
Men | x |
Women | x |
Must run a business | |
Must own a home or land | |
Must be a salaried worker | |
Must be specific age group | |
Other | |
Other (2) |
# Regions for this institution | N/A |
# Regions for this product | N/A |
Regions Active |
Currency | MWK |
Minimum loan size | MWK 5,000 |
Maximum loan size | 1,500,000 |
Loans less than MWK 50,000 | 30% |
MWK 50,000-150,000 | 50% |
MWK 150,000-250,000 | 10% |
MWK 250,000-350,000 | 5% |
MWK 350,000-450,000 | 5% |
Greater than MWK 450,000 | 5% |
Shortest loan term | 3.0 months |
Longest loan term | 12.0 months |
Approx average | 6.0 months |
Loans 3 months or less | 10% |
Between 4 and 6 months | 10% |
Between 7 and 9 months | 40% |
Between 10 and 12 months | 40% |
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 |
Currency | KES |
Minimum loan size | KES 300,000 |
Maximum loan size | 20,000,000 |
Shortest loan term | 6.0 months |
Longest loan term | 48.0 months |
Approx average | 24.0 months |
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 | 38.00% |
Highest quoted nominal interest | 38.00% |
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 | N/A |
% 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 | 10.60% |
Highest quoted nominal interest | 10.60% |
Interest rate period | Yearly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Fee 1 | Fee 2 | ||
---|---|---|---|
Description | Processing Fee | Legal fee | |
% of loan amount - min | 3.00% | 0 | |
% of loan amount - max | 3.00% | 0 | |
OR, Fixed amount - min | 0 | 2,000 | |
Fixed amount - max | 0 | 2,000 | |
Reason for variation | N/A | N/A | |
Appears on Repayment Sched? | No | No |
Fee 1 | |
---|---|
Description | Ledger Fee |
% of loan amount - min | 0 |
% of loan amount - max | 0 |
OR, Fixed amount - min | 200 |
Fixed amount - max | 200 |
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? | No |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | Sample 6 | ||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Loan Amount | MWK 17,400 | MWK 20,000 | MWK 50,000 | MWK 100,000 | MWK 300,000 | MWK 500,000 | |||||
Loan Cycle (1, 2, 3, etc) | 5 | 9 | 3 | 7 | 2 | 3 | |||||
Disbursement Date | 2012-12-18 | 2013-01-14 | 2013-01-03 | 2012-07-25 | 2012-09-07 | 2013-01-14 | |||||
Loan Term (Months) | 12.0 months | 4.0 months | 12.0 months | 10.0 months | 12.0 months | 12.0 months | |||||
Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | 0.0 months | 0.0 months | 0.0 months | |||||
Total Cost of Credit | MWK 7,482 | MWK 3,533.32 | MWK 21,499.96 | MWK 36,666.70 | MWK 129,000 | MWK 214,999.96 | |||||
True Price by Comp | |||||||||||
Interest price component | 62.6% | 58.8% | 62.8% | 62.2% | 62.6% | 62.8% | |||||
Fee Component | 6.2% | 15.2% | 6.3% | 7.2% | 6.3% | 6.3% | |||||
Insurance Component | 4.3% | 10.5% | 4.3% | 4.9% | 4.3% | 4.3% | |||||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
Deposit Component | 150.0% | 206.8% | 151.4% | 160.7% | 150.3% | 151.4% | |||||
Full APR (int fee ins tax dep) | 223.1% | 291.3% | 224.8% | 235.0% | 223.5% | 224.8% | |||||
Transparency Index | 17 | 13 | 17 | 16 | 17 | 17 | |||||
Original Repayment Schedule | |||||||||||
MFT Pricing Calculation |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | ||||
---|---|---|---|---|---|---|---|
Loan Amount | KES 280,000 | KES 315,000 | KES 390,000 | KES 392,000 | |||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
Disbursement Date | 2009-12-24 | 2010-01-07 | 2010-02-04 | 2010-01-08 | |||
Loan Term (Months) | 24.0 months | 36.0 months | 24.0 months | 12.0 months | |||
Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | 0.0 months | |||
Total Cost of Credit | Not Known | Not Known | Not Known | Not Known | |||
True Price by Comp | |||||||
Interest and Fee Component | 25.8% | 23.8% | 26.0% | 27.7% | |||
Insurance Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
Deposit Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
Full APR (int fee ins tax dep) | 25.8% | 23.8% | 26.0% | 27.7% | |||
Transparency Index | 41 | 45 | 41 | 38 | |||
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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