Institution Type | Non-Governmental Organization |
Is this institution regulated? | No |
Website address | http://www.mojaz.org |
Year established | 2008 |
Head of Institution | Gulshan Kaur |
Regions active | Punjab |
# Branches | 4 |
Total Portfolio (nat'l) | PKR 246,000,000 |
Total Portfolio (USD) | USD 2,415,720 |
Active clients with loans | 13,417 |
Approximate % female clients | 40% - 60% |
Approximate % urban clients | 20% - 40% |
Network affiliations | Pakistan Center for Philanthropy, Human Resource Development Network |
Funders | Pakistan Poverty Alleviation Fund, Orix Leasing, Orangi Charitable Trust |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Regular Loan | PKR 10,000 - 75,000 | 12 - 18 | 40% - 60% | 0% - 20% | Business, Agriculture, Livestock | Women, Men, Have business | Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Business Training | |||||||
Seasonal Loan | PKR 10,000 - 75,000 | 3 - 6 | 40% - 60% | 0% | Agriculture, Other, Livestock | Women, Men, Must be involved in agriculture activity | Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Business Training |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Regular Loan | 20.0% annual, Flat | 1 Fee | 1 Ins | None | N/A | 39.3% | 41.3% | 48 | ||||||||
Seasonal Loan | 24.0% annual, Decl Bal | 1 Fee | 1 Ins | None | N/A | 30.2% | 32.3% | 74 |
Outstanding portfolio (RWF) | RWF 3,092,489,825 |
Portfolio (USD) | USD 4,832,015.35 |
Active Clients with Loans | 1,184 |
Approximate % Female Clients | 40% - 60% |
Approximate % Urban Clients | 80% - 100% |
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other |
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | x |
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 | |
Must own a home or land | |
Must be a salaried worker | |
Must be specific age group | |
Other | |
Other (2) |
# Regions for this institution | 22 |
# Regions for this product | N/A |
Regions Active |
Currency | RWF |
Minimum loan size | RWF 250,000 |
Maximum loan size | 60,000,000 |
Loans less than RWF 500,000 | 10% |
RWF 500,000-1,500,000 | 10% |
RWF 1,500,000-2,500,000 | 10% |
RWF 2,500,000-3,500,000 | 10% |
RWF 3,500,000-4,500,000 | 10% |
Greater than RWF 4,500,000 | 10% |
Shortest loan term | 4.0 months |
Longest loan term | 60.0 months |
Approx average | DK |
Loans 3 months or less | 0 |
Between 4 and 6 months | 5% |
Between 7 and 9 months | 5% |
Between 10 and 12 months | 10% |
Between 13 and 18 months | 30% |
Longer than 18 months | 50% |
Grace period usage | 0 |
Average grace period | 0 |
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 | 18.00% |
Highest quoted nominal interest | 24.00% |
Reason(s) why interest rate varies | Loan Size, Collateral |
Interest rate period | Yearly |
Interest Rate Calculation Method | Decl Bal |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Fee 1 | |
---|---|
Description | Loan Processing Fee |
% of loan amount - min | 2.00% |
% of loan amount - max | 2.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | Excluding VAT |
Appears on Repayment Sched? | Yes |
Ins 1 | |
---|---|
Description | Credit Life Insurance Premium |
% of loan amount - min | 0.05% |
% of loan amount - max | 7.99% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | Loans <10M pay 1%, loans >10M pay matrix fee |
Appears on Repayment Sched? | Yes |
Required for | Never |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | N/A |
Do borrowers control deposit in their group? | N/A |
% loan amount deposited | N/A |
or, Fixed-amount deposited | N/A |
% loan amount deposited | N/A |
or, Fixed-amount deposited | N/A |
Conditions on access to deposit | N/A |
Minimum interest rate paid | N/A |
Maximum interest rate paid | N/A |
Interest payment frequency | N/A |
Are taxes charged on this product? | Yes |
Percentage of fees | 18% |
All or some fees taxed | All |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | Sample 6 | ||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Loan Amount | RWF 250,000 | RWF 490,000 | RWF 1,000,000 | RWF 2,000,000 | RWF 3,000,000 | RWF 4,000,000 | |||||
Loan Cycle (1, 2, 3, etc) | 1 | 1 | 1 | 1 | 1 | Not Known | |||||
Disbursement Date | 2012-09-12 | 2012-04-26 | 2012-08-23 | 2012-07-20 | 2012-08-13 | 2012-08-02 | |||||
Loan Term (Months) | 12.0 months | 18.0 months | 12.0 months | 24.0 months | 24.0 months | 24.0 months | |||||
Grace Period (Months) | 0.0 months | 0.0 months | 0.1 months | 0.0 months | 0.0 months | 0.1 months | |||||
Total Cost of Credit | RWF 36,764 | RWF 98,610 | RWF 170,304 | RWF 502,161 | RWF 747,415 | RWF 992,889 | |||||
True Price by Comp | |||||||||||
Interest price component | 19.9% | 19.8% | 23.8% | 19.8% | 19.8% | 19.8% | |||||
Fee Component | 3.9% | 2.7% | 3.8% | 2.1% | 2.1% | 2.1% | |||||
Insurance Component | 1.9% | 1.4% | 2.0% | 0.5% | 0.4% | 0.3% | |||||
Tax Component | 1.1% | 0.7% | 1.1% | 0.5% | 0.4% | 0.4% | |||||
Deposit Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
Full APR (int fee ins tax dep) | 26.8% | 24.6% | 30.7% | 22.9% | 22.7% | 22.6% | |||||
Transparency Index | 67 | 73 | 59 | 79 | 79 | 80 | |||||
Original Repayment Schedule | |||||||||||
MFT Pricing Calculation |
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