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Institution
Data approved: 2012-11-23
Data version: 2
Age of data: 143 months
Key Statistics
| Outstanding portfolio (MWK) | MWK 12,021,238 |
| Portfolio (USD) | USD 30,823.69 |
| Active Clients with Loans | 790 |
| Approximate % Female Clients | 60% - 80% |
| Approximate % Urban Clients | 0% - 20% |
Methodology
| Individual | |
| Solidarity group | x |
| Village banking | x |
| Self help group | |
| Other | |
Description
Agricultural loan extended to clients on the Masika Loan to enable them buy important farm inputs. The loan runs from December to May every year for rain-fed Agriculture. It is also extended during varied times for irrigation farming.
Loan Purpose
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | Used for only working capital purpose |
| Other (2) | |
Included Services
| Credit education | x |
| Group meetings | x |
| Credit insurance | x |
| Workplace visits | |
| Business training | x |
| Other training | |
| Other | Environmental & HIV & AIDS education |
| Other (2) | |
| No other services | |
Eligibility
| 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) | |
Portfolio Size by Product
Geographic Coverage
| # Regions for this institution | 11 |
| # Regions for this product | 8 |
| Regions Active | Dedza, Dowa, Lilongwe, Ntcheu, Mulanje, Thyolo, Phalombe, Zomba |
Loan Conditions
Loan Amount
| Currency | MWK |
| Minimum loan size | MWK 10,000 |
| Maximum loan size | 50,000 |
Distribution at Disbursement (Est.)
| Loans less than MWK 50,000 | 100% |
| MWK 50,000-150,000 | 0 |
| MWK 150,000-250,000 | 0 |
| MWK 250,000-350,000 | 0 |
| MWK 350,000-450,000 | 0 |
| Greater than MWK 450,000 | 0 |
Loan Term and Grace Period
| Shortest loan term | 6.0 months |
| Longest loan term | 6.0 months |
| Approx average | 6.0 months |
Distribution at Disbursement (Est.)
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 100% |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 0 |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
Grace Period
| Grace period usage | 0 |
| Average grace period | 0 |
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 | x |
| Irregular payments | |
Pricing Information
Interest
| Lowest quoted nominal interest | 5.00% |
| Highest quoted nominal interest | 5.00% |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 |
|---|
| Description | Loan 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? | No |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 |
|---|
| Description | Credit Insurance -Life&Health |
| % of loan amount - min | 2.00% |
| % of loan amount - max | 2.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | No |
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | No |
| Do borrowers control deposit in their group? | No |
Deposit BEFORE or AT Disbursement
| % loan amount deposited | 5.00% |
| or, Fixed-amount deposited | 0 |
Deposits DURING period payments
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | Final Pmt |
Interest Paid on Deposit
| Minimum interest rate paid | 0 |
| Maximum interest rate paid | 0 |
| Interest payment frequency | N/A |
Taxes
| Are taxes charged on this product? | No |
Additional Comments
This product is seasonal.
Full Pricing Data
Fumba (Agricultural Loan) samples
| Sample 1 | | Sample 2 | | Sample 3 |
|---|
| Loan Amount | MWK 9,000 | | MWK 25,000 | | MWK 50,000 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2011-12-14 | | 2011-12-14 | | 2011-12-14 |
| Loan Term (Months) | 5.6 months | | 5.6 months | | 5.6 months |
| Grace Period (Months) | 4.6 months | | 4.6 months | | 4.6 months |
| Total Cost of Credit | MWK 3,150 | | MWK 8,750 | | MWK 17,500 |
| True Price by Comp | | | | | |
| Interest price component | 63.7% | | 63.7% | | 63.7% |
| Fee Component | 7.4% | | 7.4% | | 7.4% |
| Insurance Component | 5.2% | | 5.2% | | 5.2% |
| Tax Component | 0.0% | | 0.0% | | 0.0% |
| Deposit Component | 4.0% | | 4.0% | | 4.0% |
| Full APR (int fee ins tax dep) | 80.3% | | 80.3% | | 80.3% |
| Transparency Index | 75 | | 75 | | 75 |
| | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF |
Fumba (Agricultural Loan) Price Graphs
