2. OIBM
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. VFS
Please note that the information you are viewing is 139 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Opportunity Bank of Malawi Private Bag A71Lilongwe, Central
Data approved: 2012-11-29
Data version: 2
Age of data: 143 months
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Institution

Village Financial Services Private Limited Village TowerF-15, Geetanjali Park; 18/3A, Kumud Ghoshal RoadKolkata, West BengalPO Box 700057
Data approved: 2013-01-02
Data version: 2
Age of data: 139 months
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Product

Mzati (Individual) Loan Product 3 of 4 « Prev | Next »

Product

Samridhhi Product 2 of 2 « Prev | Next »

Product Summary

Number borrowers2,306
Loan Amount (range)MWK 50,000 - 1,000,000
Loan Term (range)3 - 12
Other Services (text summary)Credit Educ, Credit Ins, Business Training, Other Training, Social Issues Training (HIV/AIDS, Gender, Vision Building),, Mthunzi (Shelter) Insurance
Annual Interest & Method42.00% annual, Flat
Fees2 fees
Insurance938 upfront
TaxNone
Comp Dep15.00% upfront
Range of pricing 
Interest Price Component31.6% - 67.3%
Fee Component2.0% - 47.8%
Insurance Component0 - 3.7%
Tax Component Range0
Full APR (int fee ins tax dep)92.3% - 144.5%
Transparency Index (min/max)29 - 130
Transparency Index (average)39

Product Summary

7,056
INR 16,000 - 50,000
23.9 - 24.3
Group Mtgs, Credit Ins, Other Training
23.5% annual, Decl Bal
1.00% upfront
2.00% upfront
12.36% fees
N/A
 
22.6% - 26.1%
1.0% - 2.2%
2.1% - 2.3%
0.1% - 0.3%
26.0% - 29.5%
76 - 90
83

Product Details

Key Statistics
Outstanding portfolio (MWK)MWK 650,679,509
Portfolio (USD)USD 1,668,409
Active Clients with Loans2,306
Approximate % Female Clients40% - 60%
Approximate % Urban Clients40% - 60%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
For individual micro entrepreneurs who aspire to grow and tranform their business and their families through microcredit. Individuals can choose to repay over a 12-month period with monthly installments.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit educationx
Group meetings
Credit insurancex
Workplace visits
Business trainingx
Other trainingx
OtherSocial Issues Training (HIV/AIDS, Gender, Vision Building),
Other (2)Mthunzi (Shelter) Insurance
No other services
Eligibility
Menx
Womenx
Must run a businessx
Must own a home or landx
Must be a salaried worker
Must be specific age group
OtherMust have assets as collateral
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution16
# Regions for this product19
Regions ActiveDedza, Dowa, Kasungu, Lilongwe, Mchinji, Nkhotakota, Salima, ChitipaKaronga, Mzimba, Nkhata Bay, Rumphi, Blantyre, ChikwawaMangochi, Mulanje, Nsanje, Thyolo, Zomba

Product Details

Key Statistics
Outstanding portfolio (INR)INR 92,621,924
Portfolio (USD)USD 1,747,583.47
Active Clients with Loans7,056
Approximate % Female Clients80% - 100%
Approximate % Urban Clients0% - 20%
Methodology
Individual
Solidarity groupx
Village banking
Self help group
Other
Description
Samridhhi is a general loan product targeted at women engaged in income generating activities. It charges 23.6% annual interest rate on declining balance. Repayments are weekly.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit education
Group meetingsx
Credit insurancex
Workplace visits
Business training
Other trainingx
Other
Other (2)
No other services
Eligibility
Men
Womenx
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
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution2
# Regions for this product2
Regions ActiveBihar, West Bengal

Loan Conditions

Loan Amount
CurrencyMWK
Minimum loan sizeMWK 50,000
Maximum loan size1,000,000
Distribution at Disbursement (Est.)
Loans less than MWK 50,0000
MWK 50,000-150,00010%
MWK 150,000-250,00020%
MWK 250,000-350,00020%
MWK 350,000-450,00020%
Greater than MWK 450,00020%
Loan Term and Grace Period
Shortest loan term3.0 months
Longest loan term12.0 months
Approx average8.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months20%
Between 7 and 9 months40%
Between 10 and 12 months40%
Between 13 and 18 months0
Longer than 18 months0
Grace Period
Grace period usage30%
Average grace period1.0 month
Repayment Frequency
Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Loan Conditions

Loan Amount
CurrencyINR
Minimum loan sizeINR 16,000
Maximum loan size50,000
Distribution at Disbursement (Est.)
Loans less than INR 5,0000
INR 5,000-15,0000
INR 15,000-25,00080%
INR 25,000-35,00020%
INR 35,000-45,0000
Greater than INR 45,0000
Loan Term and Grace Period
Shortest loan term23.9 months
Longest loan term24.3 months
Approx average24.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months0
Between 7 and 9 months0
Between 10 and 12 months0
Between 13 and 18 months0
Longer than 18 months100%
Grace Period
Grace period usage0
Average grace period0
Repayment Frequency
Daily
Weeklyx
Every 2 weeks
Every 4 weeks
Monthly
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest
Lowest quoted nominal interest3.50%
Highest quoted nominal interest3.50%
Interest rate periodMonthly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1Fee 2
DescriptionProcessing FeeLegal Fee
% of loan amount - min3.50%0
% of loan amount - max3.50%0
OR, Fixed amount - min0250
Fixed amount - max0250
Reason for variationN/AN/A
Appears on Repayment Sched?NoNo
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionMthunzi Insurance Cover
% of loan amount - min0
% of loan amount - max0
OR, Fixed amount - min937.80
Fixed amount - max937.80
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 deposited15.00%
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 paid7.00%
Maximum interest rate paid7.00%
Interest payment frequencyMonthly
Taxes
Are taxes charged on this product?No

Pricing Information

Interest
Lowest quoted nominal interest23.46%
Highest quoted nominal interest23.46%
Interest rate periodYearly
Interest Rate Calculation MethodDecl Bal
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionProcessing Fee
% of loan amount - min1.00%
% of loan amount - max1.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?No
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionInsurance 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?No
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?Yes
Percentage of fees12.4%
All or some fees taxedSome

Full Pricing Data

Mzati (Individual) Loan samples
Sample 1Sample 2Sample 3Sample 4Sample 5Sample 6
Loan AmountMWK 40,000MWK 100,000MWK 150,000MWK 200,000MWK 500,000MWK 600,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot KnownNot KnownNot Known
Disbursement Date2012-11-052012-10-292012-10-292012-10-302012-12-032012-10-11
Loan Term (Months)5.2 months11.0 months11.0 months11.0 months12.0 months13.0 months
Grace Period (Months)0.2 months0.4 months0.4 months0.4 months0.3 months1.0 month
Total Cost of CreditMWK 11,693.11MWK 41,091.52MWK 61,012.21MWK 86,513.83MWK 242,720.11MWK 307,233.86
True Price by Comp           
Interest price component63.7%65.9%65.9%65.7%67.3%62.9%
Fee Component47.8%10.9%9.9%15.6%8.2%7.1%
Insurance Component0.0%0.0%0.0%0.0%3.7%3.2%
Tax Component0.0%0.0%0.0%0.0%0.0%0.0%
Deposit Component33.0%21.5%21.2%23.0%22.4%19.1%
Full APR (int fee ins tax dep)144.5%98.3%97.0%104.3%101.6%92.3%
Transparency Index294343404145
            
Original Repayment SchedulePDFPDFPDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDFPDFPDF

Full Pricing Data

Samridhhi samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountINR 20,000INR 28,000INR 42,000INR 50,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot Known
Disbursement Date2012-11-232012-11-062012-08-062012-03-06
Loan Term (Months)24.0 months25.0 months25.0 months24.0 months
Grace Period (Months)0.2 months0.2 months0.5 months0.0 months
Total Cost of CreditINR 6,374.72INR 8,924.61INR 13,386.91INR 14,061.80
True Price by Comp       
Interest price component26.0%25.5%25.0%22.6%
Fee Component1.1%1.0%1.0%1.1%
Insurance Component2.2%2.2%2.1%2.1%
Tax Component0.2%0.1%0.2%0.2%
Deposit Component0.0%0.0%0.0%0.0%
Full APR (int fee ins tax dep)29.5%28.8%28.3%26.0%
MFIN MFI Earning (Annualised)27.1%26.5%26.0%23.7%
MFIN Cost to Borrower (Annualised)29.5%28.8%28.3%26.0%
Transparency Index80818390
MFIN Transparency Index909294100
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF
* The APR stated here is an MFTransparency term, definition and formula
Mzati (Individual) Loan Price Graphs


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Key Statistics
# Samples:
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# 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
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Country InstAbbrev SampleCode Loan Amount USD Loan Term (Months) SampClients FullAPR DateApproved
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