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Institution
Data approved: 2012-01-25
Data version: 1
Age of data: 164 months
Key Statistics
| Outstanding portfolio (ZMK) | ZMK 6,886,000,000 |
| Portfolio (USD) | USD 1,330,628.02 |
| Active Clients with Loans | 287 |
| Approximate % Female Clients | 40% - 60% |
| Approximate % Urban Clients | 40% - 60% |
Methodology
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other | |
Description
Loan Product for Home Improvement
Loan Purpose
| Any purpose | |
| Income generation | x |
| Mortgage/housing | x |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| 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 | x |
| Must own a home or land | x |
| Must be a salaried worker | |
| Must be specific age group | |
| Other | |
| Other (2) | |
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 5,000,000 |
| Maximum loan size | 120,000,000 |
Loan Term and Grace Period
| Shortest loan term | 6.0 months |
| Longest loan term | 60.0 months |
| Approx average | 18.0 months |
Grace Period
| Grace period usage | 0 |
| Average grace period | 0 |
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 | 2.50% |
| Highest quoted nominal interest | 3.00% |
| Reason(s) why interest rate varies | Time as Client, Repeat Loan discount - annual rate is 36% for 1st loan, 30% for 2nd loan. |
| 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 |
|---|
| Description | Processing Fee |
| % of loan amount - min | 4.00% |
| % of loan amount - max | 4.00% |
| 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 feesUpfront Insurance Fees
| Ins 1 |
|---|
| Description | Credit Life Assurance |
| % of loan amount - min | 1.00% |
| % of loan amount - max | 4.50% |
| 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 | 5.00% |
| or, Fixed-amount deposited | 0 |
Deposits DURING period payments
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | End Term |
Interest Paid on Deposit
| Minimum interest rate paid | 3.00% |
| Maximum interest rate paid | 9.00% |
| Interest payment frequency | End Term |
Taxes
| Are taxes charged on this product? | No |
Additional Comments
Client is entitled to client share ownership program and has a minimum of 1% interest rebate paid if the loan was paid on time. The client has four options of investment. The repeat borrowers have a lower interest rate.
Full Pricing Data
Home Improvement Loan samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 | | Sample 5 |
|---|
| Loan Amount | ZMK 5,000,000 | | ZMK 5,000,000 | | ZMK 5,000,000 | | ZMK 5,500,000 | | ZMK 5,500,000 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2010-11-03 | | 2010-10-14 | | 2011-02-15 | | 2010-09-22 | | 2011-07-26 |
| Loan Term (Months) | 9.0 months | | 12.0 months | | 12.0 months | | 12.0 months | | 24.0 months |
| Grace Period (Months) | 0.0 months | | 0.0 months | | 0.0 months | | 0.0 months | | 2.0 months |
| Total Cost of Credit | Not Known | | Not Known | | Not Known | | Not Known | | Not Known |
| True Price by Comp | | | | | | | | | |
| Interest and Fee Component | 62.4% | | 60.0% | | 70.4% | | 60.2% | | 72.2% |
| Insurance Component | 4.3% | | 3.4% | | 3.5% | | 3.4% | | 2.0% |
| Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Deposit Component | 5.5% | | 5.2% | | 6.1% | | 5.3% | | 5.2% |
| Full APR (int fee ins tax dep) | 72.2% | | 68.7% | | 80.0% | | 68.8% | | 79.4% |
| Transparency Index | 42 | | 44 | | 38 | | 44 | | 38 |
| | | | | | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF | | PDF |
Home Improvement Loan Price Graphs
