2. FINCA
Please note that the information you are viewing is 143 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE
  2. NRDP
Please note that the information you are viewing is 131 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

FINCA Malawi Ltd Private Mail Bag 382ChichiriBlantyre, SouthernPO Box 382
Data approved: 2012-12-01
Data version: 2
Age of data: 143 months
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Institution

National Rural Development Program NRDP Secretariat, Circular Road, Mumtaz ColonyNarowal, Punjab51600
Data approved: 2013-07-23
Data version: 1
Age of data: 131 months

Product

Village Banking Loan Product 2 of 3 « Prev | Next »

Product

General Loan Product 1 of 3 « Prev | Next »

Product Summary

Number borrowers20,635
Loan Amount (range)MWK 5,000 - 400,000
Loan Term (range)4 - 6
Other Services (text summary)Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Business Training, Other Training, Team work, etc.
Annual Interest & Method84.00%-90.00% annual, Decl Bal
FeesNone
Insurance0.50% upfront
TaxNone
Comp Dep10.00% upfront
Range of pricing 
Interest Price Component57.7% - 96.1%
Fee Component0 - 5.5%
Insurance Component0 - 3.0%
Tax Component Range0
Full APR (int fee ins tax dep)99.9% - 118.1%
Transparency Index (min/max)71 - 106
Transparency Index (average)78

Product Summary

4,691
PKR 10,000 - 75,000
12
Credit Educ, Group Mtgs, Tech Asst Visits, Business Training
20.0% annual, Flat
2.00% upfront
None
None
N/A
 
28.2% - 34.7%
4.0% - 4.1%
0
0
38.5% - 38.7%
0 - N/A
N/A

Product Details

Key Statistics
Outstanding portfolio (MWK)MWK 731,660,000
Portfolio (USD)USD 1,876,051.28
Active Clients with Loans20,635
Approximate % Female Clients60% - 80%
Approximate % Urban Clients0% - 20%
Methodology
Individual
Solidarity groupx
Village bankingx
Self help group
Other
Description
Village banking loan is given to a group of business people. Minimum number of members is 10, but for a new group the members range between 15 to 30. The repayment is bi-weekly and monthly, and there are group guarantees.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit educationx
Group meetingsx
Credit insurancex
Workplace visitsx
Business trainingx
Other trainingx
OtherTeam work, etc.
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a businessx
Must own a home or land
Must be a salaried worker
Must be specific age group
Other
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution22
# Regions for this product26
Regions ActiveDedza, Dowa, Kasungu, Lilongwe, Mchinji, Nkhotakota, Ntcheu, Ntchisi, SalimaKaronga, Mzimba, Nkhata Bay, Rumphi, Balaka, Blantyre, Chikwawa, Chiradzulu, MachingaMangochi, Mulanje, Mwanza, Nsanje, Thyolo, Phalombe, Zomba, Neno

Product Details

Key Statistics
Outstanding portfolio (PKR)PKR 67,533,958
Portfolio (USD)USD 689,122.02
Active Clients with Loans4,691
Approximate % Female Clients40% - 60%
Approximate % Urban Clients20% - 40%
Methodology
Individual
Solidarity group
Village banking
Self help group
Other
Description
Based on sustainability of business, prior performance and repayment capacity of the client (need and requirement of the client is also taken into consideration) Maximum 75,000.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit educationx
Group meetingsx
Credit insurance
Workplace visitsx
Business trainingx
Other training
Other
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a businessx
Must own a home or land
Must be a salaried worker
Must be specific age groupx
OtherProductive Loans for legal business (Small)
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution1
# Regions for this product1
Regions ActivePunjab

Loan Conditions

Loan Amount
CurrencyMWK
Minimum loan sizeMWK 5,000
Maximum loan size400,000
Distribution at Disbursement (Est.)
Loans less than MWK 50,00050%
MWK 50,000-150,00030%
MWK 150,000-250,00010%
MWK 250,000-350,0005%
MWK 350,000-450,0005%
Greater than MWK 450,0005%
Loan Term and Grace Period
Shortest loan term4.0 months
Longest loan term6.0 months
Approx average4.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months100%
Between 7 and 9 months0
Between 10 and 12 months0
Between 13 and 18 months0
Longer than 18 months0
Grace Period
Grace period usage30%
Average grace period2.0 months
Repayment Frequency
Daily
Weekly
Every 2 weeksx
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Loan Conditions

Loan Amount
CurrencyPKR
Minimum loan sizePKR 10,000
Maximum loan size75,000
Distribution at Disbursement (Est.)
Loans less than PKR 10,0000
PKR 10,000-25,00050%
PKR 25,000-50,00040%
PKR 50,000-75,00010%
PKR 75,000-150,0000
Greater than PKR 150,0000
Loan Term and Grace Period
Shortest loan term12.0 months
Longest loan term12.0 months
Approx average12.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months0
Between 7 and 9 months0
Between 10 and 12 months100%
Between 13 and 18 months0
Longer than 18 months0
Grace Period
Grace period usage100%
Average grace period0.2 months
Repayment Frequency
Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 months
Quarterlyx
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest
Lowest quoted nominal interest7.00%
Highest quoted nominal interest7.50%
Reason(s) why interest rate variesBased on # of group members. <20 =7.5%pm, >20= 7%pm
Interest rate periodMonthly
Interest Rate Calculation MethodDecl Bal
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
This product has no upfront fees
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionInsurance Premium
% of loan amount - min0.50%
% of loan amount - max0.50%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?No
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forAll
CriteriaN/A
Is deposit indicated on the repayment schedule?No
Do borrowers control deposit in their group?No
Deposit BEFORE or AT Disbursement
% loan amount deposited10.00%
or, Fixed-amount deposited0
Deposits DURING period payments
% loan amount deposited0
or, Fixed-amount deposited0
Conditions on access to depositEnd Term
Interest Paid on Deposit
Minimum interest rate paid0
Maximum interest rate paid0
Interest payment frequencyN/A
Taxes
Are taxes charged on this product?No

Pricing Information

Interest
Lowest quoted nominal interest20.00%
Highest quoted nominal interest20.00%
Interest rate periodYearly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionProcessing Fee
% of loan amount - min2.00%
% of loan amount - max2.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?Yes
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
This product has no upfront insurance fees
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forNever
CriteriaN/A
Is deposit indicated on the repayment schedule?N/A
Do borrowers control deposit in their group?N/A
Deposit BEFORE or AT Disbursement
% loan amount depositedN/A
or, Fixed-amount depositedN/A
Deposits DURING period payments
% loan amount depositedN/A
or, Fixed-amount depositedN/A
Conditions on access to depositN/A
Interest Paid on Deposit
Minimum interest rate paidN/A
Maximum interest rate paidN/A
Interest payment frequencyN/A
Taxes
Are taxes charged on this product?No

Full Pricing Data

Village Banking Loan samples
Sample 1Sample 2Sample 3Sample 4Sample 5Sample 6
Loan AmountMWK 10,000MWK 30,000MWK 45,000MWK 100,000MWK 200,000MWK 300,000
Loan Cycle (1, 2, 3, etc)116799
Disbursement Date2012-10-232012-10-242012-11-282012-10-192012-11-292012-11-30
Loan Term (Months)3.7 months4.0 months4.1 months3.9 months3.9 months4.1 months
Grace Period (Months)0.0 months0.2 months0.1 months0.2 months0.1 months0.1 months
Total Cost of CreditMWK 1,809.84MWK 5,429.60MWK 8,967.16MWK 18,098.72MWK 36,197.44MWK 59,781
True Price by Comp           
Interest price component96.1%86.1%83.5%87.4%90.1%83.5%
Fee Component0.0%0.0%0.0%0.0%0.0%0.0%
Insurance Component3.0%2.7%2.4%2.8%2.9%2.4%
Tax Component0.0%0.0%0.0%0.0%0.0%0.0%
Deposit Component19.0%16.1%14.0%16.4%17.1%14.0%
Full APR (int fee ins tax dep)118.1%104.9%99.9%106.6%110.1%99.9%
Transparency Index718084797684
            
Original Repayment SchedulePDFPDFPDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDFPDFPDF

Full Pricing Data

General Loan samples
Sample 1Sample 2Sample 3
Loan AmountPKR 10,000PKR 20,000PKR 50,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot Known
Disbursement Date2013-06-152012-11-082013-06-15
Loan Term (Months)12.0 months12.0 months12.0 months
Grace Period (Months)0.0 months0.0 months0.0 months
Total Cost of CreditPKR 2,200PKR 4,400PKR 11,000
True Price by Comp     
Interest price component34.5%34.7%34.5%
Fee Component4.0%4.0%4.0%
Insurance Component0.0%0.0%0.0%
Tax Component0.0%0.0%0.0%
Deposit Component0.0%0.0%0.0%
Full APR (int fee ins tax dep)38.5%38.7%38.5%
Transparency IndexN/AN/AN/A
      
Original Repayment SchedulePDFPDFPDF
MFT Pricing CalculationPDFPDFPDF
Village Banking Loan Price Graphs


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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
Filter table:
Country InstAbbrev SampleCode Loan Amount USD Loan Term (Months) SampClients FullAPR DateApproved
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