| Institution Type | Bank |
| Is this institution regulated? | Yes |
| Website address | http://www.waseelabank.com |
| Year established | 2012 |
| Head of Institution | Mr. Ghazanfar Azzam |
| Regions active | Islambad Capital Territory, Khyber Pakhtunkwa, Punjab, Sindh |
| # Branches | 41 |
| Total Portfolio (nat'l) | PKR 621,746,515 |
| Total Portfolio (USD) | USD 6,105,550.78 |
| Active clients with loans | 13,855 |
| Approximate % female clients | 0% - 20% |
| Approximate % urban clients | 0% - 20% |
| Network affiliations | |
| Funders | Global Telecom Holding S.A.E |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Waseela Fori Cash Loan | PKR 25,000 - 150,000 | 3 - 12 | 0% - 20% | 20% - 40% | Business, Agriculture, Livestock, Trading & Manufacturing | Women, Men, Have business | ||||||||
| Waseela Khushhal Kisan Loan | PKR 20,000 - 60,000 | 3 - 12 | 0% - 20% | 0% - 20% | Business, Agriculture, Livetsock | Women, Men, Have business |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Waseela Fori Cash Loan | 27.0%-30.0% annual, Flat | 1 Fee | 0 Ins | 16.00% fees | N/A | 28% - 35.3% | 28.2% - 36.6% | 90 | ||||||||
| Waseela Khushhal Kisan Loan | 29.0% annual, Flat | 1 Fee | 0 Ins | 16.00% fees | N/A | 26.9% - 32.7% | 27.1% - 33.6% | 98 |
| Outstanding portfolio (MWK) | MWK 37,835,575 |
| Portfolio (USD) | USD 97,014.29 |
| Active Clients with Loans | 829 |
| 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 | x |
| 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 | 200,000 |
| Loans less than MWK 50,000 | 30% |
| MWK 50,000-150,000 | 60% |
| MWK 150,000-250,000 | 10% |
| MWK 250,000-350,000 | 0 |
| MWK 350,000-450,000 | 0 |
| Greater than MWK 450,000 | 0 |
| Shortest loan term | 6.0 months |
| Longest loan term | 10.0 months |
| Approx average | 6.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 10% |
| Between 7 and 9 months | 70% |
| Between 10 and 12 months | 20% |
| 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? | Yes |
| % 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 10,000 | MWK 25,000 | MWK 50,000 | MWK 80,000 | |||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
| Disbursement Date | 2013-01-10 | 2012-11-16 | 2013-01-10 | 2012-11-28 | |||
| Loan Term (Months) | 6.0 months | 8.0 months | 6.0 months | 8.0 months | |||
| Grace Period (Months) | -1.0 months | -0.9 months | -1.0 months | 0.1 months | |||
| Total Cost of Credit | MWK 3,575 | MWK 10,250 | MWK 15,875 | MWK 31,700 | |||
| True Price by Comp | |||||||
| Interest price component | 48.1% | 46.4% | 48.1% | 46.4% | |||
| Fee Component | 16.4% | 7.8% | 8.0% | 5.6% | |||
| Insurance Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
| Deposit Component | 14.7% | 11.6% | 12.5% | 11.1% | |||
| Full APR (int fee ins tax dep) | 79.2% | 65.8% | 68.6% | 63.1% | |||
| Transparency Index | 68 | 82 | 79 | 86 | |||
| Original Repayment Schedule | |||||||
| MFT Pricing Calculation |
| Key Statistics | |
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| # Borrowers | |
| Loan Portfolio (USD) | |
| % Products using declining balance | |
| % Products with one or more fee | |
| % Products with one or more insurances | |
| % Products with compulsory deposits |
| Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
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