Institution Type | Credit Union / Cooperative |
Is this institution regulated? | Yes |
Website address | N/A |
Year established | 2004 |
Head of Institution | Kingsley Mulewa |
Regions active | Lilongwe, Mchinji, Salima, Mzimba, Blantyre |
# Branches | 5 |
Total Portfolio (nat'l) | MWK 106,822,473.20 |
Total Portfolio (USD) | USD 273,903.78 |
Active clients with loans | 4,221 |
Approximate % female clients | 40% - 60% |
Approximate % urban clients | 60% - 80% |
Network affiliations | MUSCCO, MAMN |
Funders | Hivos, Cordaid, MUSSCO |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mpamba (Individual Business Loan) | MWK 6,000 - 1,500,000 | 3 - 12 | 40% - 60% | 60% - 80% | Business, Housing, Consumer, Education | Women, Men, Have business, Have home or land | Credit Educ, Credit Ins, Business Training | |||||||
Mwai wa Mayi (Female Group Loan) | MWK 5,000 - 500,000 | 6 | 80% - 100% | 60% - 80% | Business | Women, Have business | Credit Educ, Group Mtgs, Credit Ins, Business Training, Other Training | |||||||
Phindu (Group Business) | MWK 5,000 - 500,000 | 6 - 12 | 20% - 40% | 20% - 40% | Business | Women, Men, Have business, Salaried worker | Credit Educ, Group Mtgs, Credit Ins, Business Training | |||||||
Pompopompo (Emergency Loan) | MWK 1,120 - 30,000 | 2 - 5 | 40% - 60% | 80% - 100% | Other | Women, Men, Have business, Salaried worker | Credit Educ, Credit Ins | |||||||
Umphawi (Share Oriented Loan) | MWK 5,000 - 1,500,000 | 3 - 12 | 0% - 20% | 20% - 40% | Any Purpose | Women, Men, Have business, Salaried worker | ||||||||
Payroll Loan | MWK 5,000 - 1,500,000 | 3 - 12 | 20% - 40% | 40% - 60% | Any Purpose | Women, Men, Salaried worker | Credit Educ |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mpamba (Individual Business Loan) | 32.00%-42.00% annual, Flat | 1 Fee | 1 Ins | None | 50.00% upfront | 60.1% - 78.9% | 187.8% - 297% | 12 | ||||||||
Mwai wa Mayi (Female Group Loan) | 45.00% annual, Flat | 1 Fee | 1 Ins | None | 33.33% upfront | 82.1% - 82.8% | 177% - 177.8% | 25 | ||||||||
Phindu (Group Business) | 45.00% annual, Flat | 1 Fee | 1 Ins | None | 33.33% upfront | 82.3% - 83.4% | 176.4% - 179.8% | 25 | ||||||||
Pompopompo (Emergency Loan) | 36.00% annual, Flat | 1 Fee | 1 Ins | None | 50.00% upfront | 79.4% - 83.5% | 298.2% - 308.4% | 11 | ||||||||
Umphawi (Share Oriented Loan) | 42.00% annual, Flat | 1 Fee | 1 Ins | None | 50.00% upfront | 74.8% - 79% | 233.9% - 303.8% | 15 | ||||||||
Payroll Loan | 38.00% annual, Flat | 1 Fee | 1 Ins | None | 50.00% upfront | 68.8% - 74% | 223.1% - 291.3% | 16 |
Outstanding portfolio (INR) | INR 2,937,000 |
Portfolio (USD) | USD 55,415.09 |
Active Clients with Loans | 298 |
Approximate % Female Clients | 80% - 100% |
Approximate % Urban Clients | 0% - 20% |
Individual | |
Solidarity group | x |
Village banking | |
Self help group | x |
Other |
Any purpose | |
Income generation | |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | Livestock Purchase |
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 | She should have experince of keeping Buffalow , cow and goat. |
Other (2) |
# Regions for this institution | 2 |
# Regions for this product | 2 |
Regions Active | Madhya Pradesh, Uttar Pradesh |
Currency | INR |
Minimum loan size | INR 5,000 |
Maximum loan size | 20,000 |
Shortest loan term | 12.0 months |
Longest loan term | 12.0 months |
Approx average | 12.0 months |
Grace period usage | 0 |
Average grace period | 0 |
Daily | |
Weekly | |
Every 2 weeks | |
Every 4 weeks | |
Monthly | x |
Every 2 months | |
Quarterly | x |
Every 6 months | |
Every 12 months | |
Single end payment | |
Irregular payments |
Lowest quoted nominal interest | 1.50% |
Highest quoted nominal interest | 1.50% |
Interest rate period | Monthly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | |
Is rate fixed for entire loan term | Yes |
Fee 1 | |
---|---|
Description | Processing Fee |
% 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? | No |
Ins 1 | |
---|---|
Description | Insurance Fee |
% of loan amount - min | 0 |
% of loan amount - max | 0 |
OR, Fixed amount - min | 50 |
Fixed amount - max | 200 |
Reason for variation | N/A |
Appears on Repayment Sched? | No |
Required for | Some |
Criteria | If loan amount is greater than 5000 Rs than security deposit is compulsary. |
Is deposit indicated on the repayment schedule? | |
Do borrowers control deposit in their group? |
% loan amount deposited | 10.00% |
or, Fixed-amount deposited | 0 |
% loan amount deposited | 0 |
or, Fixed-amount deposited | 0 |
Conditions on access to deposit | Final Pmt |
Minimum interest rate paid | 3.50% |
Maximum interest rate paid | 3.50% |
Interest payment frequency | Annually |
Are taxes charged on this product? | No |
Sample 1 | Sample 2 | Sample 3 | |||
---|---|---|---|---|---|
Loan Amount | INR 5,000 | INR 10,000 | INR 20,000 | ||
Loan Cycle (1, 2, 3, etc) | 1 | 1 | 3 | ||
Disbursement Date | 2010-05-21 | 2010-06-18 | 2010-05-07 | ||
Loan Term (Months) | 12.0 months | 12.0 months | 12.0 months | ||
Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | ||
Total Cost of Credit | Not Known | Not Known | Not Known | ||
True Price by Comp | |||||
Interest and Fee Component | 18.7% | 34.8% | 33.5% | ||
Insurance Component | 3.8% | 2.0% | 1.9% | ||
Tax Component | 0.0% | 0.0% | 0.0% | ||
Deposit Component | 0.0% | 6.8% | 6.5% | ||
Full APR (int fee ins tax dep) | 22.5% | 43.6% | 41.9% | ||
MFIN MFI Earning (Annualised) | 18.7% | 34.8% | 33.5% | ||
MFIN Cost to Borrower (Annualised) | 22.5% | 43.6% | 41.9% | ||
Transparency Index | 80 | 41 | 43 | ||
MFIN Transparency Index | N/A | N/A | N/A | ||
Original Repayment Schedule | |||||
MFT Pricing Calculation |
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% Products with compulsory deposits |
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