Institution Type | Bank |
Is this institution regulated? | Yes |
Website address | N/A |
Year established | 2003 |
Head of Institution | Shedehva Optat |
Regions active | Ruvuma |
# Branches | 1 |
Total Portfolio (nat'l) | TZS 4,748,143,743 |
Total Portfolio (USD) | USD 2,986,253.93 |
Active clients with loans | 1,069.80 |
Approximate % female clients | 20% - 40% |
Approximate % urban clients | 20% - 40% |
Network affiliations | Community Bank Association |
Funders | Financial Sector Deepening, Agricultural Trust Fund |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Salary Loan | TZS 300,000 - 6,000,000 | 12 | 60% - 80% | 40% - 60% | Any Purpose | Women, Men, Salaried worker | Group Mtgs, Business Training | |||||||
Small Business Loan | TZS 1,000,000 - 45,000,000 | 3 - 18 | 20% - 40% | 60% - 80% | Business | Women, Men, Have business | Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Business Training | |||||||
Solidarity Group Loan | TZS 500,000 - 3,500,000 | 1 - 12 | 40% - 60% | 20% - 40% | Business, Agriculture | Women, Men, Must run agricultural activities or business | 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 | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Salary Loan | 24.00% annual, Flat | 2 Fees | 1 Ins | None | N/A | 48.7% - 57.2% | 50% - 59.8% | 41 | ||||||||
Small Business Loan | 10.00%-24.00% annual, Flat | 3 Fees | 1 Ins | None | N/A | 58.6% - 71.7% | 61.2% - 77% | 15 | ||||||||
Solidarity Group Loan | 10.00%-30.00% annual, Flat | 2 Fees | 1 Ins | None | 30.00% upfront | 14.2% - 94.9% | 22.9% - 242.9% | 8 |
Outstanding portfolio (PHP) | PHP 152,630,925 |
Portfolio (USD) | USD 3,651,457.54 |
Active Clients with Loans | 7,492 |
Approximate % Female Clients | 20% - 40% |
Approximate % Urban Clients | 0% - 20% |
Individual | x |
Solidarity group | x |
Village banking | x |
Self help group | |
Other |
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | x |
Education | |
Other household finance | |
Other | |
Other (2) |
Credit education | x |
Group meetings | x |
Credit insurance | x |
Workplace visits | x |
Business training | x |
Other training | x |
Other | Transformation Program |
Other (2) | Environment Program |
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 | Must be engaged in agri-business |
Other (2) |
# Regions for this institution | N/A |
# Regions for this product | N/A |
Regions Active |
Currency | PHP |
Minimum loan size | PHP 5,000 |
Maximum loan size | 150,000 |
Shortest loan term | 4.0 months |
Longest loan term | 6.0 months |
Approx average | 5.0 months |
Grace period usage | 0 |
Average grace period | 0 |
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 | 2.00% |
Highest quoted nominal interest | 3.00% |
Reason(s) why interest rate varies | Client Risk, Loan Purpose, Interest rate varies if client has exceeded the loan duration or if the loan is given to a new client, not as an incentive loan. |
Interest rate period | Monthly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | |
Is rate fixed for entire loan term | Yes |
Fee 1 | Fee 2 | ||
---|---|---|---|
Description | Service Fee | Business Development Support Service | |
% of loan amount - min | 3.00% | 0 | |
% of loan amount - max | 3.00% | 0 | |
OR, Fixed amount - min | 0 | 100 | |
Fixed amount - max | 0 | 100 | |
Reason for variation | N/a | ||
Appears on Repayment Sched? | No | No |
Ins 1 | Ins 2 | ||
---|---|---|---|
Description | Crop Insurance (PCIC) for corn and palay | ASKI MBA Life Insurance | |
% of loan amount - min | 5.31% | 0 | |
% of loan amount - max | 8.48% | 0 | |
OR, Fixed amount - min | 0 | 480 | |
Fixed amount - max | 0 | 480 | |
Reason for variation | N/A | N/A | |
Appears on Repayment Sched? | No | No |
Ins 1 | |
---|---|
Description | ASKI MBA Life Insurance |
% of loan amount - min | 0 |
% of loan amount - max | 0 |
OR, Fixed amount - min | 30 |
Fixed amount - max | 30 |
Reason for variation | N/A |
Appears on Repayment Sched? | Yes |
Required for | All |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | Yes |
Do borrowers control deposit in their group? |
% loan amount deposited | 0 |
or, Fixed-amount deposited | 0 |
% loan amount deposited | 10.00% |
or, Fixed-amount deposited | 0 |
Conditions on access to deposit | Access During |
Minimum interest rate paid | 1.00% |
Maximum interest rate paid | 1.00% |
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 | PHP 7,000 | PHP 20,000 | PHP 28,000 | PHP 60,000 | PHP 90,000 | PHP 120,000 | |||||
Loan Cycle (1, 2, 3, etc) | 1 | 1 | 5 | 3 | 4 | 5 | |||||
Disbursement Date | 2011-04-11 | 2011-07-07 | 2011-04-29 | 2011-04-27 | 2011-04-28 | 2011-05-24 | |||||
Loan Term (Months) | 4.0 months | 5.0 months | 4.0 months | 5.0 months | 5.0 months | 5.0 months | |||||
Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | 0.0 months | 0.0 months | 0.0 months | |||||
Total Cost of Credit | Not Known | Not Known | Not Known | Not Known | Not Known | Not Known | |||||
True Price by Comp | |||||||||||
Interest and Fee Component | 34.5% | 33.8% | 33.9% | 32.7% | 32.7% | 34.0% | |||||
Insurance Component | 0.0% | 35.4% | 0.0% | 0.0% | 1.5% | 1.2% | |||||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
Deposit Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
Full APR (int fee ins tax dep) | 34.5% | 69.3% | 33.9% | 32.7% | 34.2% | 35.2% | |||||
Transparency Index | 70 | 35 | 71 | 74 | 70 | 68 | |||||
Original Repayment Schedule | |||||||||||
MFT Pricing Calculation |
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% Products with compulsory deposits |
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