Opportunity Bank of Malawi - Payroll Loan - MFTransparency.org Truth In Lending Tables

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

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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Product

Payroll Loan Product 4 of 4 « Prev | Next »

Product Details

Key Statistics

Outstanding portfolio (MWK)	MWK 513,157,530
Portfolio (USD)	USD 1,315,788.54
Active Clients with Loans	3,548
Approximate % Female Clients	20% - 40%
Approximate % Urban Clients	40% - 60%

Methodology

Individual	x
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 purpose	x
Income generation
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)

Included Services

Credit education
Group meetings
Credit insurance	x
Workplace visits
Business training
Other training
Other
Other (2)
No other services

Eligibility

Men	x
Women	x
Must run a business
Must own a home or land
Must be a salaried worker	x
Must be specific age group
Other	Age must be above 18 years
Other (2)

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

# Regions for this institution	16
# Regions for this product	19
Regions Active	Dedza, Dowa, Kasungu, Lilongwe, Mchinji, Nkhotakota, Salima, ChitipaKaronga, Mzimba, Nkhata Bay, Rumphi, Blantyre, ChikwawaMangochi, Mulanje, Nsanje, Thyolo, Zomba

Loan Conditions

Loan Amount

Currency	MWK
Minimum loan size	MWK 15,000
Maximum loan size	4,000,000

Distribution at Disbursement (Est.)

Loans less than MWK 50,000	10%
MWK 50,000-150,000	20%
MWK 150,000-250,000	20%
MWK 250,000-350,000	20%
MWK 350,000-450,000	10%
Greater than MWK 450,000	10%

Loan Term and Grace Period

Shortest loan term	3.0 months
Longest loan term	48.0 months
Approx average	12.0 months

Distribution at Disbursement (Est.)

Loans 3 months or less	0
Between 4 and 6 months	10%
Between 7 and 9 months	10%
Between 10 and 12 months	20%
Between 13 and 18 months	20%
Longer than 18 months	40%

Grace Period

Grace period usage	30%
Average grace period	1.0 month

Repayment Frequency

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

Pricing Information

Interest

Lowest quoted nominal interest	45.00%
Highest quoted nominal interest	45.00%
Interest rate period	Yearly
Interest Rate Calculation Method	Decl Bal
Subsidized by funder request?	No
Is rate fixed for entire loan term	Yes

Upfront Fees

	Fee 1
Description	Processing Fee
% of loan amount - min	3.00%
% of loan amount - max	3.00%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	N/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 for	Never
Criteria	N/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 deposited	N/A
or, Fixed-amount deposited	N/A

Deposits DURING period payments

% loan amount deposited	N/A
or, Fixed-amount deposited	N/A
Conditions on access to deposit	N/A

Interest Paid on Deposit

Minimum interest rate paid	N/A
Maximum interest rate paid	N/A
Interest payment frequency	N/A

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Full Pricing Data

Payroll Loan samples

	Sample 1	Sample 2	Sample 3	Sample 4	Sample 5	Sample 6
Loan Amount	MWK 20,000	MWK 50,000	MWK 100,000	MWK 200,000	MWK 400,000	MWK 950,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known	Not Known	Not Known	Not Known
Disbursement Date	2012-08-09	2012-10-23	2012-10-26	2012-09-25	2012-10-23	2012-12-05
Loan Term (Months)	7.0 months	12.0 months	25.0 months	24.0 months	25.0 months	48.0 months
Grace Period (Months)	0.9 months	0.4 months	0.3 months	1.9 months	0.4 months	-1.0 months
Total Cost of Credit	MWK 3,471.47	MWK 13,075.70	MWK 48,626.69	MWK 92,912.55	MWK 196,246.98	MWK 951,640.99
True Price by Comp
Interest price component	37.1%	37.3%	37.3%	31.9%	37.4%	39.9%
Fee Component	8.6%	5.7%	3.2%	2.8%	3.2%	2.1%
Insurance Component	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Tax Component	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Deposit Component	0.0%	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 Index	99	100	100	100	100	100

Original Repayment Schedule	PDF	PDF	PDF	PDF	PDF	PDF
MFT Pricing Calculation	PDF	PDF	PDF	PDF	PDF	PDF

Payroll Loan Price Graphs

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Please note that the information you are viewing is 168 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

HOPE FOUNDATION Sree Sakthi Complex,Coimbtore Road, KalmandapamPalakkad, Kerala678001

Data approved: 2011-01-06

Data version: 1

Age of data: 168 months

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Institution Details

Institution Type	Non-Governmental Organization
Is this institution regulated?	No
Website address	http://www.hopefoundationindia.net/
Year established	2005
Head of Institution	Mr. Raju Kuriachen
Regions active
# Branches	42

Total Portfolio (nat'l)	INR 233,623,428
Total Portfolio (USD)	USD 4,407,989.21
Active clients with loans	62,669
Approximate % female clients	80% - 100%
Approximate % urban clients	0% - 20%
Network affiliations

Loan Products » Summary

IGL

62,669 Borrowers

USD 4,407,989.21 Portfolio

Active Product

Loan Products » Conditions

Product Name		Loan Size Range		Loan Term (months)		% Female		% Urban		Loan Purpose		Eligibility		Other Services
Income Generation Loan		INR 3,000 - 20,000		12		80% - 100%		0% - 20%		Business		Women, Have business, Have home or land, Salaried worker		Credit Educ, Group Mtgs, Credit Ins

Loan Products » MFIN India Additional Information

Product Name		APR (int)		MFIN MFI Earning (Annualised)		MFIN Cost to Borrower (Annualised)		COMPLIANCE WITH RBI GUIDELINES ON INTEREST METHOD		COMPLIANCE WITH RBI GUIDELINES ON PROCESSING FEES		COMPLIANCE WITH RBI GUIDELINES ON INSURANCE PREMIUM		MFIN Transparency Index
Income Generation Loan		0		31.1%		33.4%								N/A

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Loan Products » Pricing Information

Product Name		Annual Nominal Interest		Fees		Insurance		Taxes		Compulsory Deposit		APR (int+fee)		Full APR		Transparency Index
Income Generation Loan		12.0% annual, Flat		1 Fee		1 Ins		None		N/A		31.1%		33.4%		36

Institution Price Graph

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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

	X Axis
	Greater than:
	Less or equal to:
N (# of Samples)
Total Borrrowers of Samples


Avg
Min
Max
Std Dev

By Inst Type


By Country

	X Axis
	Greater than:
	Less or equal to:
	From 0 to
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Institution

Product

Product Details

Key Statistics

Methodology

Description

Loan Purpose

Included Services

Eligibility

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

Loan Conditions

Loan Amount

Distribution at Disbursement (Est.)

Loan Term and Grace Period

Distribution at Disbursement (Est.)

Grace Period

Repayment Frequency

Pricing Information

Interest

Upfront Fees

Ongoing Fees

Upfront Insurance Fees

Ongoing Insurance Fees

Compulsory Deposit

Deposit BEFORE or AT Disbursement

Deposits DURING period payments

Interest Paid on Deposit

Taxes

Full Pricing Data

Payroll Loan samples

Payroll Loan Price Graphs

Institution

Institution Details

Loan Products » Summary

Loan Products » Conditions

Loan Products » MFIN India Additional Information

Loan Products » Pricing Information

Institution Price Graph

Total Borrowers of Samples

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