CETZAM Financial Services PLC - Solidarity Group Loan - MFTransparency.org Truth In Lending Tables

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Institution

CETZAM Financial Services PLC CETZAM HousePrivate Bag E760Lusaka10101

Data approved: 2011-12-12

Data version: 1

Age of data: 164 months

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Product

Solidarity Group Loan Product 3 of 4 « Prev | Next »

Product Details

Key Statistics

Outstanding portfolio (ZMK)	ZMK 2,298,423,195
Portfolio (USD)	USD 444,139.75
Active Clients with Loans	2,729
Approximate % Female Clients	60% - 80%
Approximate % Urban Clients	60% - 80%

Methodology

Individual	x
Solidarity group
Village banking
Self help group
Other

Description

Group loan of 5 to 8 members. Loan repayments are monthly. The loan amount is between K1,000,000 and K5,000,000,000. The average loan term is 10 months.

Loan Purpose

Any purpose
Income generation	x
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)

Included Services

Credit education	x
Group meetings
Credit insurance
Workplace visits	x
Business training
Other training
Other
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)

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

# Regions for this institution	N/A
# Regions for this product	N/A
Regions Active

Loan Conditions

Loan Amount

Currency	ZMK
Minimum loan size	ZMK 1,000,000
Maximum loan size	5,000,000

Loan Term and Grace Period

Shortest loan term	3.0 months
Longest loan term	10.0 months
Approx average	10.0 months

Grace Period

Grace period usage	100%
Average grace period	1.0 month

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
Irregular payments

Pricing Information

Interest

Lowest quoted nominal interest	6.00%
Highest quoted nominal interest	6.50%
Reason(s) why interest rate varies	Client Risk, Loan term. The longer the term the higher the interest.
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	Fee 2
Description	Processing fees/Admin Fee	Ntula premium
% of loan amount - min	3.80%	0.60%
% of loan amount - max	3.80%	1.90%
OR, Fixed amount - min	0	0
Fixed amount - max	0	0
Reason for variation	N/A	N/A
Appears on Repayment Sched?	No	No

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

	Ins 1
Description	Credit Life Insurance
% of loan amount - min	0.44%
% of loan amount - max	0.60%
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	10.00%
or, Fixed-amount deposited	0

Deposits DURING period payments

% loan amount deposited	0
or, Fixed-amount deposited	0
Conditions on access to deposit

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

Are taxes charged on this product?

Full Pricing Data

Solidarity Group Loan samples

	Sample 1	Sample 2	Sample 3
Loan Amount	ZMK 1,500,000	ZMK 2,000,000	ZMK 4,000,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known
Disbursement Date	2011-08-26	2011-06-30	2011-09-15
Loan Term (Months)	6.0 months	8.0 months	7.0 months
Grace Period (Months)	0.0 months	0.0 months	0.0 months
Total Cost of Credit	Not Known	Not Known	Not Known
True Price by Comp
Interest and Fee Component	139.3%	143.8%	138.1%
Insurance Component	2.7%	2.2%	2.4%
Tax Component	0.0%	0.0%	0.0%
Deposit Component	25.7%	25.6%	25.2%
Full APR (int fee ins tax dep)	167.6%	171.5%	165.7%
Transparency Index	43	42	43

Original Repayment Schedule	PDF	PDF	PDF
MFT Pricing Calculation	PDF	PDF	PDF

Solidarity Group Loan Price Graphs

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Key Statistics
# Samples:
# Products
# Institutions
# Countries
# Borrowers
Loan Portfolio (USD)
% Products using declining balance
% Products with one or more fee
% Products with one or more insurances
% Products with compulsory deposits

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Total Borrrowers of Samples


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