Institution Type | Bank |
Is this institution regulated? | Yes |
Website address | http://www.akdn.org/pakistan_microfinance.asp |
Year established | 2002 |
Head of Institution | Amir Masood Khan |
Regions active | Azad Kashmir, Balochistan, Gilgit-Baltistan, Khyber Pakhtunkwa, Punjab, Sindh |
# Branches | 133 |
Total Portfolio (nat'l) | PKR 4,020,148,567 |
Total Portfolio (USD) | USD 41,021,924.15 |
Active clients with loans | 166,267 |
Approximate % female clients | 20% - 40% |
Approximate % urban clients | 40% - 60% |
Network affiliations | Pakistan Microfinance Network (PMN), Microfinance Network (MFN), Banking with the Poor, Aga Khan Development Network (AKDN) |
Funders | Aga Khan Agency for Microfinance (Equity partner/Investor), International Finance Corporation (Equity Partner/Investor), Japan International Corporation Agency (JICA) |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Agriculture Finance | PKR 10,000 - 150,000 | 3 - 14 | 0% - 20% | 0% | Agriculture | Women, Men, Has owned or contracted cultivation land and has experience of cultivation | Group Mtgs, Credit Ins | |||||||
Enterprise Finance | PKR 15,000 - 150,000 | 3 - 18 | 0% - 20% | 80% - 100% | Business | Women, Men, Have business, Start up can also avail loan facility | Group Mtgs, Credit Ins | |||||||
Livestock Finance (Short Term) | PKR 10,000 - 150,000 | 3 - 12 | 20% - 40% | 0% - 20% | Business, Small animal purchase, raring, fattening and productivity enhancement of large animals | Women, Men | Group Mtgs, Credit Ins | |||||||
Livestock Finance (Medium Term) | PKR 30,000 - 80,000 | 6 - 36 | 40% - 60% | 0% - 20% | Business, Purchase of milking cow/buffallo | Women, Men, Must have at least 2 existing milking animals | Group Mtgs, Credit Ins | |||||||
General Purpose Finance | PKR 10,000 - 50,000 | 3 - 12 | 40% - 60% | 0% - 20% | Housing, Education, Other | Women, Men | Group Mtgs, Credit Ins | |||||||
Micro Pensioner Loan | PKR 20,000 - 150,000 | 6 - 36 | 0% - 20% | 40% - 60% | Any Purpose | Women, Men, Must be a pensioner | Credit Ins | |||||||
Low Salary Employees Loan | PKR 20,000 - 150,000 | 6 - 36 | 0% - 20% | 40% - 60% | Any Purpose | Women, Men, Salaried worker | Credit Ins | |||||||
Individual Loan Against Gold | PKR 35,000 - 150,000 | 3 - 12 | 40% - 60% | 100% | Any Purpose | Women, Men | Credit Ins | |||||||
Individual Loan Against Cash/Near Cash | PKR 20,000 - 150,000 | 3 - 24 | 0% - 20% | 40% - 60% | Any Purpose | Women, Men | Credit Ins |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Agriculture Finance | 26.0%-38.4% annual, Decl Bal | 1 Fee | 0 Ins | 16.00% fees | N/A | 29.1% - 33.8% | 29.1% - 33.9% | N/A | ||||||||
Enterprise Finance | 38.4% annual, Decl Bal | 1 Fee | 0 Ins | 16.00% fees | N/A | 30% - 38.2% | 30% - 38.2% | N/A | ||||||||
Livestock Finance (Short Term) | 26.0%-38.4% annual, Decl Bal | 1 Fee | 0 Ins | 16.00% fees | N/A | 27.8% - 40.2% | 27.8% - 40.6% | N/A | ||||||||
Livestock Finance (Medium Term) | 31.7%-40.9% annual, Decl Bal | 1 Fee | 0 Ins | 16.00% fees | N/A | 32.1% - 44.6% | 32.1% - 45.1% | N/A | ||||||||
General Purpose Finance | 26.0%-38.4% annual, Decl Bal | 1 Fee | 0 Ins | 16.00% fees | N/A | 27.6% - 37.6% | 27.6% - 37.6% | N/A | ||||||||
Micro Pensioner Loan | 30.0%-32.0% annual, Decl Bal | 1 Fee | 0 Ins | 16.00% fees | N/A | 30.5% - 36.4% | 30.5% - 36.9% | N/A | ||||||||
Low Salary Employees Loan | 30.0%-32.0% annual, Decl Bal | 1 Fee | 0 Ins | 16.00% fees | N/A | 32.2% - 33.6% | 32.2% - 33.6% | N/A | ||||||||
Individual Loan Against Gold | 24.0% annual, Decl Bal | 2 Fees | 0 Ins | 16.00% fees | N/A | 25.1% - 26.1% | 25.3% - 26.5% | N/A | ||||||||
Individual Loan Against Cash/Near Cash | 4.0%-20.0% annual, Decl Bal | 1 Fee | 0 Ins | 16.00% fees | N/A | 4.6% - 25.2% | 4.7% - 26.1% | N/A |
Outstanding portfolio (MWK) | MWK 635,069,330 |
Portfolio (USD) | USD 1,628,382.90 |
Active Clients with Loans | 34,795 |
Approximate % Female Clients | 40% - 60% |
Approximate % Urban Clients | 20% - 40% |
Individual | |
Solidarity group | x |
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 | x |
Credit insurance | x |
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 | 16 |
# Regions for this product | 18 |
Regions Active | Dedza, Dowa, Kasungu, Lilongwe, Mchinji, Nkhotakota, Salima, ChitipaKaronga, Mzimba, Nkhata Bay, Rumphi, Blantyre, ChikwawaMangochi, Nsanje, Thyolo, Zomba |
Currency | MWK |
Minimum loan size | MWK 140,000 |
Maximum loan size | 2,800,000 |
Loans less than MWK 50,000 | 0 |
MWK 50,000-150,000 | 5% |
MWK 150,000-250,000 | 30% |
MWK 250,000-350,000 | 30% |
MWK 350,000-450,000 | 15% |
Greater than MWK 450,000 | 15% |
Shortest loan term | 4.0 months |
Longest loan term | 9.0 months |
Approx average | 6.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 50% |
Between 7 and 9 months | 50% |
Between 10 and 12 months | 0 |
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 | x |
Every 4 weeks | |
Monthly | x |
Every 2 months | |
Quarterly | |
Every 6 months | |
Every 12 months | |
Single end payment | |
Irregular payments |
Lowest quoted nominal interest | 3.75% |
Highest quoted nominal interest | 3.75% |
Interest rate period | 4 Weeks |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Fee 1 | |
---|---|
Description | Processing Fee |
% of loan amount - min | 3.50% |
% of loan amount - max | 3.50% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | Yes |
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 | ||||
---|---|---|---|---|---|---|---|
Loan Amount | MWK 170,000 | MWK 230,000 | MWK 390,000 | MWK 830,000 | |||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
Disbursement Date | 2012-11-14 | 2012-10-16 | 2012-10-18 | 2012-10-11 | |||
Loan Term (Months) | 5.9 months | 7.0 months | 9.0 months | 6.0 months | |||
Grace Period (Months) | 0.9 months | 0.9 months | 0.8 months | 1.0 month | |||
Total Cost of Credit | MWK 43,019.75 | MWK 66,687.60 | MWK 140,969.58 | MWK 214,035.80 | |||
True Price by Comp | |||||||
Interest price component | 62.4% | 64.4% | 65.9% | 61.4% | |||
Fee Component | 11.5% | 10.3% | 8.5% | 11.1% | |||
Insurance Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
Deposit Component | 18.7% | 19.4% | 19.5% | 18.0% | |||
Full APR (int fee ins tax dep) | 92.6% | 94.1% | 93.9% | 90.5% | |||
Transparency Index | 53 | 52 | 52 | 54 | |||
Original Repayment Schedule | |||||||
MFT Pricing Calculation |
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% Products with one or more insurances | |
% Products with compulsory deposits |
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