Wisdom Microfinance Institution S.Co - Agricultural Loan - MFTransparency.org Truth In Lending Tables

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Institution

Wisdom Microfinance Institution S.Co Bole Sub CityAddis Ababa31478

Data approved: 2012-03-12

Data version: 1

Age of data: 158 months

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Product

Agricultural Loan Product 2 of 6 « Prev | Next »

Product Details

Key Statistics

Outstanding portfolio (ETB)	ETB 76,625,544
Portfolio (USD)	USD 4,164,431.74
Active Clients with Loans	34,703
Approximate % Female Clients	60% - 80%
Approximate % Urban Clients	0% - 20%

Methodology

Individual
Solidarity group	x
Village banking
Self help group
Other

Description

This loan is offered on group basis. Loan size can range from 2500-5000 and group size is can be 5 to 35.

Loan Purpose

Any purpose
Income generation	x
Mortgage/housing
Consumer loan
Agriculture	x
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
Must own a home or land
Must be a salaried worker
Must be specific age group
Other	75% of group members has to be women
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	ETB
Minimum loan size	ETB 2,500
Maximum loan size	4,500

Loan Term and Grace Period

Shortest loan term	6.0 months
Longest loan term	12.0 months
Approx average	9.0 months

Grace Period

Grace period usage	0
Average grace period	0

Repayment Frequency

Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthly
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment	x
Irregular payments

Pricing Information

Interest

Lowest quoted nominal interest	19.50%
Highest quoted nominal interest	19.50%
Interest rate period	Yearly
Interest Rate Calculation Method	Flat
Subsidized by funder request?
Is rate fixed for entire loan term	Yes

Upfront Fees

	Fee 1
Description	service charge
% of loan amount - min	2.50%
% of loan amount - max	2.50%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation
Appears on Repayment Sched?	No

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

	Ins 1
Description	Credit life insurance
% 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	All
Criteria	N/A
Is deposit indicated on the repayment schedule?	Yes
Do borrowers control deposit in their group?

Deposit BEFORE or AT Disbursement

% loan amount deposited	15.00% - N/A
or, Fixed-amount deposited	0

Deposits DURING period payments

% loan amount deposited	0
or, Fixed-amount deposited	ETB 10 - N/A
Conditions on access to deposit	End Term

Interest Paid on Deposit

Minimum interest rate paid	5.00%
Maximum interest rate paid	5.00%
Interest payment frequency	Monthly

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Additional Comments

5% interest on saving is compounded monthly

Full Pricing Data

Agricultural Loan samples

	Sample 1	Sample 2	Sample 3
Loan Amount	ETB 3,000	ETB 3,000	ETB 3,500
Loan Cycle (1, 2, 3, etc)	4	4	4
Disbursement Date	2011-12-16	2011-12-16	2011-12-16
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	Not Known	Not Known	Not Known
True Price by Comp
Interest and Fee Component	22.1%	22.1%	22.1%
Insurance Component	2.3%	2.3%	2.3%
Tax Component	0.0%	0.0%	0.0%
Deposit Component	3.8%	3.8%	3.7%
Full APR (int fee ins tax dep)	28.1%	28.1%	28.1%
Transparency Index	69	69	69

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

Agricultural Loan Price Graphs

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Institution	# Borrowers	Portfolio (US$)	Products	Age of Data
ABT	25,400	37,378,000	2	126
AKIBA	26,900	36,852,000	4	139
BELITA	5,800	492,000	1	139
BRAC Tanzania	102,300	19,663,000	2	139
F & K Finance	0	38,000	1	161
FINCA Tanzania	78,400	31,517,000	3	122
FMFC	1,500	392,000	6	139
K-Finance Ltd	1,000	264,000	2	139
Mbinga	1,000	2,986,000	3	139
MCBL	3,600	2,837,000	6	139
MDF Tanzania	600	148,000	1	139
NMB	45,100	74,528,000	1	139
Opportunity	8,600	3,018,000	3	139
PRIDE Tanzania	104,400	33,321,000	3	139
PTF		-	N/A	139
Selfina	8,000	3,773,000	2	161
Tujijenge Tanzania	10,000	2,060,000	4	139
VF^Tanzania	34,390	7,613,000	4	133
Victoria	100	377,000	3	161
YOSEFO	17,100	2,211,000	3	161

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

	X Axis
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N (# of Samples)
Total Borrrowers of Samples


Avg
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By Country

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