Institution Type | Non-Governmental Organization |
Is this institution regulated? | No |
Website address | N/A |
Year established | 2003 |
Head of Institution | Irfan Khokhar |
Regions active | Punjab |
# Branches | 17 |
Total Portfolio (nat'l) | PKR 339,632,527 |
Total Portfolio (USD) | USD 3,335,191.42 |
Active clients with loans | 22,430 |
Approximate % female clients | 80% - 100% |
Approximate % urban clients | 0% - 20% |
Network affiliations | Pakistan Microfinance Network, Punjab Microfinance Network, Human Resource Development Network |
Funders | Pakistan Poverty Alleviation Fund, ORIX Leasing Pakistan Limited, United States Agency for International Development (USAID) |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Principle Loan | PKR 15,000 - 75,000 | 12 - 18 | 80% - 100% | 0% - 20% | Business | Women, Men, Have business, Specific age group | Group Mtgs, Credit Ins | |||||||
Principle Loan Village Banking | PKR 15,000 - 75,000 | 12 | 80% - 100% | 0% - 20% | Business | Women, Men, Have business, Specific age group | Group Mtgs, Credit Ins |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Principle Loan | 16.0%-20.0% annual, Flat | 1 Fee | 0 Ins | None | N/A | 44.4% - 44.6% | 44.4% - 44.6% | 36 | ||||||||
Principle Loan Village Banking | 20.0% annual, Flat | 1 Fee | 0 Ins | None | 5.0% upfront | 44.6% | 48.9% | 41 |
Outstanding portfolio (MWK) | MWK 2,757,400 |
Portfolio (USD) | USD 7,070.26 |
Active Clients with Loans | 115 |
Approximate % Female Clients | 40% - 60% |
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 | |
Business training | x |
Other training | |
Other | |
Other (2) | |
No other services |
Men | x |
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 | 10 |
# Regions for this product | 12 |
Regions Active | Kasungu, Lilongwe, Mchinji, Ntcheu, Salima, Mzimba, Nkhata Bay, Balaka, Blantyre, Mulanje, Thyolo, Zomba |
Currency | MWK |
Minimum loan size | MWK 5,000 |
Maximum loan size | 100,000 |
Loans less than MWK 50,000 | 50% |
MWK 50,000-150,000 | 50% |
MWK 150,000-250,000 | 0 |
MWK 250,000-350,000 | 0 |
MWK 350,000-450,000 | 0 |
Greater than MWK 450,000 | 0 |
Shortest loan term | 4.0 months |
Longest loan term | 12.0 months |
Approx average | 10.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 90% |
Between 7 and 9 months | 10% |
Between 10 and 12 months | 0 |
Between 13 and 18 months | 0 |
Longer than 18 months | 0 |
Grace period usage | 100% |
Average grace period | dk |
Daily | |
Weekly | |
Every 2 weeks | |
Every 4 weeks | |
Monthly | |
Every 2 months | |
Quarterly | |
Every 6 months | |
Every 12 months | |
Single end payment | x |
Irregular payments |
Lowest quoted nominal interest | 4.50% |
Highest quoted nominal interest | 4.50% |
Interest rate period | Monthly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Fee 1 | Fee 2 | ||
---|---|---|---|
Description | Application Fee | Registration Fee | |
% of loan amount - min | 3.00% | 0 | |
% of loan amount - max | 3.00% | 0 | |
OR, Fixed amount - min | 0 | 500 | |
Fixed amount - max | 0 | 500 | |
Reason for variation | N/A | Only for 1st-cycle loans | |
Appears on Repayment Sched? | No | No |
Required for | All |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | No |
Do borrowers control deposit in their group? | No |
% loan amount deposited | 20.00% |
or, Fixed-amount deposited | 0 |
% loan amount deposited | 0 |
or, Fixed-amount deposited | 0 |
Conditions on access to deposit | When Leaving |
Minimum interest rate paid | 0 |
Maximum interest rate paid | 0 |
Interest payment frequency | N/A |
Are taxes charged on this product? | No |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | ||||
---|---|---|---|---|---|---|---|
Loan Amount | MWK 15,000 | MWK 30,000 | MWK 50,000 | MWK 45,000 | |||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
Disbursement Date | 2012-09-06 | 2012-09-06 | 2012-09-06 | 2012-09-06 | |||
Loan Term (Months) | 6.0 months | 6.0 months | 6.0 months | 6.0 months | |||
Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | 0.0 months | |||
Total Cost of Credit | MWK 4,550 | MWK 8,600 | MWK 14,000 | MWK 12,650 | |||
True Price by Comp | |||||||
Interest price component | 43.6% | 43.6% | 43.6% | 43.6% | |||
Fee Component | 13.3% | 9.7% | 8.3% | 8.6% | |||
Insurance Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
Deposit Component | 13.1% | 12.1% | 11.8% | 11.8% | |||
Full APR (int fee ins tax dep) | 70.0% | 65.4% | 63.7% | 64.0% | |||
Transparency Index | 77 | 83 | 85 | 84 | |||
Original Repayment Schedule | |||||||
MFT Pricing Calculation |
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% Products with one or more insurances | |
% Products with compulsory deposits |
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