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 650,679,509 |
Portfolio (USD) | USD 1,668,409 |
Active Clients with Loans | 2,306 |
Approximate % Female Clients | 40% - 60% |
Approximate % Urban Clients | 40% - 60% |
Individual | x |
Solidarity group | |
Village banking | |
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 | |
Credit insurance | x |
Workplace visits | |
Business training | x |
Other training | x |
Other | Social Issues Training (HIV/AIDS, Gender, Vision Building), |
Other (2) | Mthunzi (Shelter) Insurance |
No other services |
Men | x |
Women | x |
Must run a business | x |
Must own a home or land | x |
Must be a salaried worker | |
Must be specific age group | |
Other | Must have assets as collateral |
Other (2) |
# 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 |
Currency | MWK |
Minimum loan size | MWK 50,000 |
Maximum loan size | 1,000,000 |
Loans less than MWK 50,000 | 0 |
MWK 50,000-150,000 | 10% |
MWK 150,000-250,000 | 20% |
MWK 250,000-350,000 | 20% |
MWK 350,000-450,000 | 20% |
Greater than MWK 450,000 | 20% |
Shortest loan term | 3.0 months |
Longest loan term | 12.0 months |
Approx average | 8.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 20% |
Between 7 and 9 months | 40% |
Between 10 and 12 months | 40% |
Between 13 and 18 months | 0 |
Longer than 18 months | 0 |
Grace period usage | 30% |
Average grace period | 1.0 month |
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 |
Lowest quoted nominal interest | 3.50% |
Highest quoted nominal interest | 3.50% |
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 | Processing Fee | Legal Fee | |
% of loan amount - min | 3.50% | 0 | |
% of loan amount - max | 3.50% | 0 | |
OR, Fixed amount - min | 0 | 250 | |
Fixed amount - max | 0 | 250 | |
Reason for variation | N/A | N/A | |
Appears on Repayment Sched? | No | No |
Ins 1 | |
---|---|
Description | Mthunzi Insurance Cover |
% of loan amount - min | 0 |
% of loan amount - max | 0 |
OR, Fixed amount - min | 937.80 |
Fixed amount - max | 937.80 |
Reason for variation | N/A |
Appears on Repayment Sched? | 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 | 15.00% |
or, Fixed-amount deposited | 0 |
% loan amount deposited | 0 |
or, Fixed-amount deposited | 0 |
Conditions on access to deposit | End Term |
Minimum interest rate paid | 7.00% |
Maximum interest rate paid | 7.00% |
Interest payment frequency | Monthly |
Are taxes charged on this product? | No |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | Sample 6 | ||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Loan Amount | MWK 40,000 | MWK 100,000 | MWK 150,000 | MWK 200,000 | MWK 500,000 | MWK 600,000 | |||||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | Not Known | |||||
Disbursement Date | 2012-11-05 | 2012-10-29 | 2012-10-29 | 2012-10-30 | 2012-12-03 | 2012-10-11 | |||||
Loan Term (Months) | 5.2 months | 11.0 months | 11.0 months | 11.0 months | 12.0 months | 13.0 months | |||||
Grace Period (Months) | 0.2 months | 0.4 months | 0.4 months | 0.4 months | 0.3 months | 1.0 month | |||||
Total Cost of Credit | MWK 11,693.11 | MWK 41,091.52 | MWK 61,012.21 | MWK 86,513.83 | MWK 242,720.11 | MWK 307,233.86 | |||||
True Price by Comp | |||||||||||
Interest price component | 63.7% | 65.9% | 65.9% | 65.7% | 67.3% | 62.9% | |||||
Fee Component | 47.8% | 10.9% | 9.9% | 15.6% | 8.2% | 7.1% | |||||
Insurance Component | 0.0% | 0.0% | 0.0% | 0.0% | 3.7% | 3.2% | |||||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
Deposit Component | 33.0% | 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 Index | 29 | 43 | 43 | 40 | 41 | 45 | |||||
Original Repayment Schedule | |||||||||||
MFT Pricing Calculation |
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