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Institution
Data approved: 2012-12-04
Data version: 2
Age of data: 147 months
Description
Home Improvement loans are loans issued to people who already have a home or a title, and are not tenants resident in a rented house. The loans can be used to putting tiled floor, or iron sheets, or fix some loose fitting etc.
Any purpose Income generation Mortgage/housing x Consumer loan Agriculture Education Other household finance Other Other (2)
Credit education Group meetings Credit insurance Workplace visits Business training Other training Other Other (2) No other services x
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 be a member of the Malawi Homeless People's Federation Other (2)
Portfolio Size by Product
Geographic Coverage
# Regions for this institution 17 # Regions for this product 3 Regions Active Lilongwe, Blantyre, Chikwawa
Loan Conditions
Currency MWK Minimum loan size MWK 20,000 Maximum loan size 20,000
Loans less than MWK 50,000 100% MWK 50,000-150,000 0 MWK 150,000-250,000 0 MWK 250,000-350,000 0 MWK 350,000-450,000 0 Greater than MWK 450,000 0
Shortest loan term 24.0 months Longest loan term 24.0 months Approx average 24.0 months
Loans 3 months or less 0 Between 4 and 6 months 0 Between 7 and 9 months 0 Between 10 and 12 months 0 Between 13 and 18 months 0 Longer than 18 months 100%
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 1.00% Highest quoted nominal interest 1.00% Interest rate period Monthly Interest Rate Calculation Method Decl Bal Subsidized by funder request? No Is rate fixed for entire loan term Yes
Upfront Fees This product has no upfront fees Ongoing Fees This product has no ongoing fees Upfront Insurance Fees This product has no upfront insurance fees Ongoing Insurance Fees This product has no ongoing insurance fees
Required for All Criteria N/A Is deposit indicated on the repayment schedule? Yes Do borrowers control deposit in their group? Yes
Deposit BEFORE or AT Disbursement
% loan amount deposited 10.00% 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 Access During
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
Additional Comments
Client pays 10% cash deposit on the day they sign a loan contract. This cash is repaid to the client on the loan disbursement day.
Home Improvement Loan Price Graphs
0 100 Pricing Transparency Index Regulated Inst. Not Regulated Inst. NGO Institution Type Housing Loan Purpose CCODE Institution MW-011-V02-P02 Product MW Country 2012 Year Range Number 2 Institution Data Version 0 5,000 10,000 15,000 20,000 Loan Size (all) 0% 5% 10% Full APR (int fee ins tax dep) > 300 100 10 Number of Borrowers
