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Institution
Data approved: 2012-01-25
Data version: 1
Age of data: 161 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