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. Grameen Koota
Please note that the information you are viewing is 141 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

Grameen Financial Services Pvt. Ltd. (Grameen Koota) AvalahaliJP Nagar-9th PhaseBanglore, Karnataka560062
Data approved: 2013-05-14
Data version: 3
Age of data: 141 months
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Product

Payroll Loan Product 4 of 4 « Prev | Next »

Product

IGL-Pragati Product 4 of 23 « Prev | Next »

Product Summary

Number borrowers3,548
Loan Amount (range)MWK 15,000 - 4,000,000
Loan Term (range)3 - 48
Other Services (text summary)Credit Ins
Annual Interest & Method45.00% annual, Decl Bal
Fees3.00% upfront
InsuranceNone
TaxNone
Comp DepN/A
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)34.7% - 45.7%
Transparency Index (min/max)29 - 130
Transparency Index (average)100

Product Summary

161,167
INR 5,000 - 15,000
12
26.0% annual, Decl Bal
1.00% upfront
383.00 upfront
12.36% fees
N/A
 
21.8% - 34.0%
1.1% - 11.6%
0 - 16.6%
0.1% - 1.5%
36.4% - 45.1%
51 - 92
64

Product Details

Key Statistics
Outstanding portfolio (MWK)MWK 513,157,530
Portfolio (USD)USD 1,315,788.54
Active Clients with Loans3,548
Approximate % Female Clients20% - 40%
Approximate % Urban Clients40% - 60%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
Given to employees of various organisations who would like to borrow and repay through their salary.
Loan Purpose
Any purposex
Income generation
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit education
Group meetings
Credit insurancex
Workplace visits
Business training
Other training
Other
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a business
Must own a home or land
Must be a salaried workerx
Must be specific age group
OtherAge must be above 18 years
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 1,003,042,000
Portfolio (USD)USD 18,925,320.75
Active Clients with Loans161,167
Approximate % Female Clients80% - 100%
Approximate % Urban Clients0% - 20%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
The product is used for income generation activity .Along with the product a life insurance cover of Rs. 25000 is provided for member.Moratorium of principal collection in first loan instalment\r
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit education
Group meetings
Credit insurance
Workplace visits
Business training
Other training
Other
Other (2)
No other servicesx
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 institution3
# Regions for this product3
Regions ActiveKarnataka, Maharashtra, Tamil Nadu

Loan Conditions

Loan Amount
CurrencyMWK
Minimum loan sizeMWK 15,000
Maximum loan size4,000,000
Distribution at Disbursement (Est.)
Loans less than MWK 50,00010%
MWK 50,000-150,00020%
MWK 150,000-250,00020%
MWK 250,000-350,00020%
MWK 350,000-450,00010%
Greater than MWK 450,00010%
Loan Term and Grace Period
Shortest loan term3.0 months
Longest loan term48.0 months
Approx average12.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months10%
Between 7 and 9 months10%
Between 10 and 12 months20%
Between 13 and 18 months20%
Longer than 18 months40%
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 5,000
Maximum loan size15,000
Distribution at Disbursement (Est.)
Loans less than INR 5,0000
INR 5,000-15,000100%
INR 15,000-25,0000
INR 25,000-35,0000
INR 35,000-45,0000
Greater than INR 45,0000
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 periodN/A
Repayment Frequency
Daily
Weeklyx
Every 2 weeksx
Every 4 weeksx
Monthly
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest
Lowest quoted nominal interest45.00%
Highest quoted nominal interest45.00%
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 - min3.00%
% of loan amount - max3.00%
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

Pricing Information

Interest
Lowest quoted nominal interest26.00%
Highest quoted nominal interest26.00%
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?Yes
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionInsurance Fees
% of loan amount - min0
% of loan amount - max0
OR, Fixed amount - min383
Fixed amount - max383
Reason for variationPremium For Member (In case the member has no spouse or if spouse is not eligible for coverage, only member should be covered under the scheme)-Rs 128, Premium for member and spouse-Rs 383
Appears on Repayment Sched?Yes
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

Payroll Loan samples
Sample 1Sample 2Sample 3Sample 4Sample 5Sample 6
Loan AmountMWK 20,000MWK 50,000MWK 100,000MWK 200,000MWK 400,000MWK 950,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot KnownNot KnownNot Known
Disbursement Date2012-08-092012-10-232012-10-262012-09-252012-10-232012-12-05
Loan Term (Months)7.0 months12.0 months25.0 months24.0 months25.0 months48.0 months
Grace Period (Months)0.9 months0.4 months0.3 months1.9 months0.4 months-1.0 months
Total Cost of CreditMWK 3,471.47MWK 13,075.70MWK 48,626.69MWK 92,912.55MWK 196,246.98MWK 951,640.99
True Price by Comp           
Interest price component37.1%37.3%37.3%31.9%37.4%39.9%
Fee Component8.6%5.7%3.2%2.8%3.2%2.1%
Insurance Component0.0%0.0%0.0%0.0%0.0%0.0%
Tax Component0.0%0.0%0.0%0.0%0.0%0.0%
Deposit Component0.0%0.0%0.0%0.0%0.0%0.0%
Full APR (int fee ins tax dep)45.7%43.0%40.5%34.7%40.6%42.0%
Transparency Index99100100100100100
            
Original Repayment SchedulePDFPDFPDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDFPDFPDF

Full Pricing Data

IGL-Pragati samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountINR 5,000INR 10,000INR 10,000INR 5,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot Known
Disbursement Date2013-04-232013-04-092013-04-162013-04-16
Loan Term (Months)12.0 months12.0 months12.0 months12.0 months
Grace Period (Months)0.0 months0.0 months0.0 months0.0 months
Total Cost of CreditINR 1,139.18INR 1,895.36INR 1,895.36INR 1,139.18
True Price by Comp       
Interest price component26.1%26.0%26.0%26.1%
Fee Component2.1%2.0%2.0%2.1%
Insurance Component16.6%8.1%8.1%16.6%
Tax Component0.3%0.3%0.3%0.3%
Deposit Component0.0%0.0%0.0%0.0%
Full APR (int fee ins tax dep)45.1%36.4%36.4%45.1%
MFIN MFI Earning (Annualised)28.2%28.0%28.0%28.2%
MFIN Cost to Borrower (Annualised)45.1%36.4%36.4%45.1%
Transparency Index58717158
MFIN Transparency Index100100100100
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF
* The APR stated here is an MFTransparency term, definition and formula
Payroll Loan Price Graphs


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IGL-Pragati 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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