Number borrowers | 1,361 |
Loan Amount (range) | MWK 10,000 - 100,000 |
Loan Term (range) | 3 - 7 |
Other Services (text summary) | |
Annual Interest & Method | 57.00% annual, Flat |
Fees | |
Insurance | |
Tax | |
Comp Dep | |
Range of pricing | |
Interest Price Component | N/A |
Fee Component | 64.1% - 75.9% (Int+Fee) |
Insurance Component | 0 |
Tax Component Range | 0 |
Full APR (int fee ins tax dep) | 71.6% - 85.7% |
Transparency Index (min/max) | 29 - 80 |
Transparency Index (average) |
355,974 |
INR 8,000 - 25,000 |
15 - 26 |
Credit Educ, Group Mtgs, Credit Education, Financial Literacy Training. , Group Meeting |
24.0%-26.0% annual, Decl Bal |
1.00% upfront |
1.10%-2.20% upfront |
12.36% fees |
N/A |
22.3% - 27.9% |
0 - 1.8% |
0 - 2.6% |
0 - 0.3% |
29.6% - 32.3% |
74 - 99 |
79 |
Outstanding portfolio (MWK) | MWK 27,439,852 |
Portfolio (USD) | USD 182,932 |
Active Clients with Loans | 1,361 |
Approximate % Female Clients | 80% - 100% |
Approximate % Urban Clients | 0% - 20% |
Individual | |
Solidarity group | x |
Village banking | x |
Self help group | |
Other |
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | |
Other (2) |
Credit education | x |
Group meetings | x |
Credit insurance | |
Workplace visits | x |
Business training | x |
Other training | x |
Other | Group Dynamics |
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 | |
Other | |
Other (2) |
# Regions for this institution | N/A |
# Regions for this product | N/A |
Regions Active |
Outstanding portfolio (INR) | INR 3,861,993,634 |
Portfolio (USD) | USD 72,867,804.42 |
Active Clients with Loans | 355,974 |
Approximate % Female Clients | 80% - 100% |
Approximate % Urban Clients | 0% - 20% |
Individual | |
Solidarity group | x |
Village banking | |
Self help group | |
Other | Joint liability group of 5 members |
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | |
Other (2) |
Credit education | x |
Group meetings | x |
Credit insurance | |
Workplace visits | |
Business training | |
Other training | |
Other | Credit Education, Financial Literacy Training. |
Other (2) | Group Meeting |
No other services |
Men | |
Women | x |
Must run a business | x |
Must own a home or land | x |
Must be a salaried worker | |
Must be specific age group | |
Household income <60,000 INR | x |
Household income <120,000 INR | |
Must live in rural area | x |
Must lives in urban area | |
Other | |
Other (2) |
# Regions for this institution | 8 |
# Regions for this product | 5 |
Regions Active | Bihar, Madhya Pradesh, Uttar Pradesh, Uttarakhand, National Capital Territory of Delhi |
Currency | MWK |
Minimum loan size | MWK 10,000 |
Maximum loan size | 100,000 |
Shortest loan term | 3.0 months |
Longest loan term | 7.0 months |
Approx average | 4.0 months |
Loans 3 months or less | N/A |
Between 4 and 6 months | N/A |
Between 7 and 9 months | N/A |
Between 10 and 12 months | N/A |
Between 13 and 18 months | N/A |
Longer than 18 months | N/A |
Grace period usage | 100% |
Average grace period | 4.0 months |
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 8,000 |
Maximum loan size | 25,000 |
Loans less than INR 5,000 | 0 |
INR 5,000-15,000 | 70% |
INR 15,000-25,000 | 30% |
INR 25,000-35,000 | 0 |
INR 35,000-45,000 | 0 |
Greater than INR 45,000 | 0 |
Shortest loan term | 15.0 months |
Longest loan term | 26.0 months |
Approx average | DK |
Loans 3 months or less | 0 |
Between 4 and 6 months | 0 |
Between 7 and 9 months | 0 |
Between 10 and 12 months | 0 |
Between 13 and 18 months | 70% |
Longer than 18 months | 30% |
Grace period usage | 0 |
Average grace period | 0 |
Daily | |
Weekly | |
Every 2 weeks | x |
Every 4 weeks | |
Monthly | |
Every 2 months | |
Quarterly | |
Every 6 months | |
Every 12 months | |
Single end payment | |
Irregular payments |
Lowest quoted nominal interest | 4.75% |
Highest quoted nominal interest | 4.75% |
Interest rate period | Monthly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | N/A |
Is rate fixed for entire loan term | Yes |
Required for | All |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | |
Do borrowers control deposit in their group? |
% loan amount deposited | 10.00% - N/A |
or, Fixed-amount deposited | 0 - N/A |
% loan amount deposited | 0 - N/A |
or, Fixed-amount deposited | 0 - N/A |
Conditions on access to deposit |
Minimum interest rate paid | 0 |
Maximum interest rate paid | 0 |
Interest payment frequency | N/A |
Are taxes charged on this product? | No |
Lowest quoted nominal interest | 24.00% |
Highest quoted nominal interest | 26.00% |
Reason(s) why interest rate varies | Client Risk |
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? | No |
Ins 1 | |
---|---|
Description | Loan Protection Fund |
% of loan amount - min | 1.10% |
% of loan amount - max | 2.20% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | Depends on loan amount, tenor and loan cycle |
Appears on Repayment Sched? | No |
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 1 | Sample 1 | |||
---|---|---|---|---|---|
Loan Amount | MWK 15,000 | MWK 15,000 | MWK 20,000 | ||
Loan Cycle (1, 2, 3, etc) | 7 | 7 | 7 | ||
Disbursement Date | 2012-11-07 | 2012-11-07 | 2012-11-07 | ||
Loan Term (Months) | 6.0 months | 7.0 months | 7.0 months | ||
Grace Period (Months) | 4.0 months | 4.0 months | 4.0 months | ||
Total Cost of Credit | Not Known | Not Known | Not Known | ||
True Price by Comp | |||||
Interest and Fee Component | 75.9% | 64.1% | 69.1% | ||
Insurance Component | 0.0% | 0.0% | 0.0% | ||
Tax Component | 0.0% | 0.0% | 0.0% | ||
Deposit Component | 9.8% | 7.4% | 7.8% | ||
Full APR (int fee ins tax dep) | 85.7% | 71.6% | 77.0% | ||
Transparency Index | 66 | 80 | 74 | ||
Original Repayment Schedule | |||||
MFT Pricing Calculation |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | ||||
---|---|---|---|---|---|---|---|
Loan Amount | INR 8,000 | INR 12,000 | INR 18,000 | INR 20,000 | |||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
Disbursement Date | 2013-02-25 | 2013-02-06 | 2013-02-21 | 2013-02-26 | |||
Loan Term (Months) | 14.0 months | 14.0 months | 24.0 months | 24.0 months | |||
Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | 0.0 months | |||
Total Cost of Credit | INR 1,509.90 | INR 2,395.83 | INR 5,820.25 | INR 6,468.72 | |||
True Price by Comp | |||||||
Interest price component | 25.8% | 27.9% | 25.9% | 25.9% | |||
Fee Component | 1.8% | 1.7% | 1.0% | 1.0% | |||
Insurance Component | 2.3% | 2.5% | 2.5% | 2.6% | |||
Tax Component | 0.3% | 0.2% | 0.2% | 0.1% | |||
Deposit Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
Full APR (int fee ins tax dep) | 30.2% | 32.3% | 29.6% | 29.6% | |||
MFIN MFI Earning (Annualised) | 27.6% | 29.6% | 26.9% | 26.9% | |||
MFIN Cost to Borrower (Annualised) | 30.2% | 32.3% | 29.6% | 29.6% | |||
Transparency Index | 80 | 74 | 81 | 81 | |||
MFIN Transparency Index | 100 | 100 | 100 | 100 | |||
Original Repayment Schedule | |||||||
MFT Pricing Calculation |
Key Statistics | |
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# 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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