Institution Type | Non Bank Financial Institution |
Is this institution regulated? | Yes |
Website address | http://www.pfsl.com.zm/ |
Year established | 2008 |
Head of Institution | Claude Lafond |
Regions active | |
# Branches | 9 |
Total Portfolio (nat'l) | ZMK 18,835,000,000 |
Total Portfolio (USD) | USD 3,639,613.53 |
Active clients with loans | 1,481 |
Approximate % female clients | 40% - 60% |
Approximate % urban clients | 40% - 60% |
Network affiliations | AMIZ, PROXFIN |
Funders | AFDB, FMO, CIDA Canada, DID / CEP |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Home Improvement Loan | ZMK 5,000,000 - 120,000,000 | 6 - 60 | 40% - 60% | 40% - 60% | Business, Housing | Women, Men, Have business, Have home or land | Credit Educ, Group Mtgs, Credit Ins | |||||||
MSME Loan | ZMK 1,000,000 - 120,000,000 | 6 - 36 | 40% - 60% | 60% - 80% | Business | Women, Men, Have business | Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Business Training | |||||||
Women Market Loan | ZMK 1,000,000 - 5,000,000 | 6 - 12 | 80% - 100% | 60% - 80% | Business | Women, Have business | Credit Educ, Group Mtgs, Credit Ins, Other Training |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Home Improvement Loan | 30.0%-36.0% annual, Flat | 1 Fee | 1 Ins | None | 5.0% upfront | 60% - 72.2% | 68.7% - 80% | 41 | ||||||||
MSME Loan | 54.0%-66.0% annual, Flat | 1 Fee | 1 Ins | None | 15.0% upfront | 104.8% - 135.3% | 139.5% - 181% | 34 | ||||||||
Women Market Loan | 54.0%-66.0% annual, Flat | 1 Fee | 1 Ins | None | 20.0% upfront | 122.5% - 135.3% | 176.6% - 200.9% | 28 |
Outstanding portfolio (INR) | INR 5,305,683 |
Portfolio (USD) | USD 100,107.23 |
Active Clients with Loans | 2,575 |
Approximate % Female Clients | 100% |
Approximate % Urban Clients | 20% - 40% |
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other | Group Based Individual Lending |
Any purpose | |
Income generation | |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | x |
Other household finance | |
Other | |
Other (2) |
Credit education | x |
Group meetings | x |
Credit insurance | |
Workplace visits | |
Business training | |
Other training | x |
Other | Group Leadership Training |
Other (2) | Financial Literacy & Social Awareness |
No other services |
Men | |
Women | x |
Must run a business | |
Must own a home or land | |
Must be a salaried worker | |
Must be specific age group | x |
Household income <60,000 INR | x |
Household income <120,000 INR | x |
Must live in rural area | x |
Must lives in urban area | x |
Other | Must have completed 1 loan cycle |
Other (2) |
# Regions for this institution | 18 |
# Regions for this product | 18 |
Regions Active | Assam, Bihar, Chhattisgarh, Gujarat, HaryanaJharkhand, Madhya Pradesh, Maharashtra, Meghalaya, Orissa, Rajasthan, Sikkim, Tripura, Uttar Pradesh, Uttarakhand, West BengalDadra and Nagar Haveli, National Capital Territory of Delhi |
Currency | INR |
Minimum loan size | INR 1,000 |
Maximum loan size | 10,000 |
Loans less than INR 5,000 | 70% |
INR 5,000-15,000 | 30% |
INR 15,000-25,000 | 0 |
INR 25,000-35,000 | 0 |
INR 35,000-45,000 | 0 |
Greater than INR 45,000 | 0 |
Shortest loan term | 12.0 months |
Longest loan term | 12.0 months |
Approx average | 12.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 0 |
Between 7 and 9 months | 0 |
Between 10 and 12 months | 100% |
Between 13 and 18 months | 0 |
Longer than 18 months | 0 |
Grace period usage | 100% |
Average grace period | 0.3 months |
Daily | |
Weekly | x |
Every 2 weeks | x |
Every 4 weeks | |
Monthly | x |
Every 2 months | |
Quarterly | |
Every 6 months | |
Every 12 months | |
Single end payment | |
Irregular payments |
Lowest quoted nominal interest | 20.00% |
Highest quoted nominal interest | 20.00% |
Interest rate period | Yearly |
Interest Rate Calculation Method | Decl Bal |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Fee 1 | |
---|---|
Description | Processing Fee |
% of loan amount - min | 1.00% |
% of loan amount - max | 1.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | Service Tax Extra |
Appears on Repayment Sched? | Yes |
Required for | Never |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | N/A |
Do borrowers control deposit in their group? | N/A |
% loan amount deposited | N/A |
or, Fixed-amount deposited | N/A |
% loan amount deposited | N/A |
or, Fixed-amount deposited | N/A |
Conditions on access to deposit | N/A |
Minimum interest rate paid | N/A |
Maximum interest rate paid | N/A |
Interest payment frequency | N/A |
Are taxes charged on this product? | Yes |
Percentage of fees | 12.4% |
All or some fees taxed | Some |
Sample 1 | Sample 2 | Sample 3 | |||
---|---|---|---|---|---|
Loan Amount | INR 2,000 | INR 3,000 | INR 5,000 | ||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
Disbursement Date | 2012-05-25 | 2012-03-22 | 2012-03-09 | ||
Loan Term (Months) | 12.0 months | 12.0 months | 12.0 months | ||
Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | ||
Total Cost of Credit | INR 222.47 | INR 333.71 | INR 556.18 | ||
True Price by Comp | |||||
Interest price component | 19.8% | 20.1% | 19.8% | ||
Fee Component | 2.1% | 2.2% | 2.1% | ||
Insurance Component | 0.0% | 0.0% | 0.0% | ||
Tax Component | 0.3% | 0.2% | 0.3% | ||
Deposit Component | 0.0% | 0.0% | 0.0% | ||
Full APR (int fee ins tax dep) | 22.2% | 22.5% | 22.2% | ||
MFIN MFI Earning (Annualised) | 21.9% | 22.3% | 21.9% | ||
MFIN Cost to Borrower (Annualised) | 22.2% | 22.5% | 22.2% | ||
Transparency Index | 90 | 89 | 90 | ||
MFIN Transparency Index | 100 | 100 | 100 | ||
Original Repayment Schedule | |||||
MFT Pricing Calculation |
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% Products with one or more insurances | |
% Products with compulsory deposits |
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