Micro Bankers Trust - Equipment Loan - MFTransparency.org Truth In Lending Tables

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Institution

Micro Bankers Trust Head OfficeLusaka

Data approved: 2011-12-12

Data version: 1

Age of data: 164 months

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Product

Equipment Loan Product 2 of 5 « Prev | Next »

Product Details

Key Statistics

Outstanding portfolio (ZMK)	ZMK 1,114,727,511
Portfolio (USD)	USD 215,406.28
Active Clients with Loans	110
Approximate % Female Clients	20% - 40%
Approximate % Urban Clients	40% - 60%

Methodology

Individual
Solidarity group	x
Village banking
Self help group
Other

Description

This product is targeted at small-scale farmers. It facilitates a procurement of equipment for irrigation and mechanization activities. The maximum loan term is 36 months. It is also collateral-based, targeted at individuals with securities.

Loan Purpose

Any purpose
Income generation	x
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other	Farmining business for throughout the year
Other (2)

Included Services

Credit education	x
Group meetings	x
Credit insurance	x
Workplace visits
Business training
Other training
Other
Other (2)
No other services

Eligibility

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 have a farm holding and source of water throughout the year
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 2,000,000
Maximum loan size	50,000,000

Loan Term and Grace Period

Shortest loan term	12.0 months
Longest loan term	36.0 months
Approx average	24.0 months

Grace Period

Grace period usage	100%
Average grace period	3.0 months

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	25.00%
Highest quoted nominal interest	25.00%
Interest rate period	Yearly
Interest Rate Calculation Method	Decl Bal
Subsidized by funder request?	No
Is rate fixed for entire loan term	Yes

Upfront Fees

	Fee 1
Description	Processing fee
% of loan amount - min	3.00%
% of loan amount - max	3.00%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	N/A
Appears on Repayment Sched?	No

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

	Ins 1
Description	Credit Life Assurance
% of loan amount - min	2.00%
% of loan amount - max	2.00%
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	Never
Criteria	N/A
Is deposit indicated on the repayment schedule?	N/A
Do borrowers control deposit in their group?	N/A

Deposit BEFORE or AT Disbursement

% loan amount deposited	N/A
or, Fixed-amount deposited	N/A

Deposits DURING period payments

% loan amount deposited	N/A
or, Fixed-amount deposited	N/A
Conditions on access to deposit	N/A

Interest Paid on Deposit

Minimum interest rate paid	N/A
Maximum interest rate paid	N/A
Interest payment frequency	N/A

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Full Pricing Data

Equipment Loan samples

	Sample 1	Sample 2	Sample 3
Loan Amount	ZMK 2,500,000	ZMK 4,000,000	ZMK 5,500,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known
Disbursement Date	2011-08-10	2011-08-10	2011-08-10
Loan Term (Months)	24.0 months	24.0 months	24.0 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	28.1%	28.1%	28.5%
Insurance Component	2.3%	2.3%	2.3%
Tax Component	0.0%	0.0%	0.0%
Deposit Component	0.0%	0.0%	0.0%
Full APR (int fee ins tax dep)	30.4%	30.4%	30.8%
Transparency Index	82	82	81

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

Equipment 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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By Country

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