Eclof International Zambia - Solidarity Group Loan - MFTransparency.org Truth In Lending Tables

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Institution

Eclof International Zambia 7th Floor Kulima Tower BuildingKatunjila RoadLusaka10101

Data approved: 2011-12-12

Data version: 1

Age of data: 168 months

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Product

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Product Details

Key Statistics

Outstanding portfolio (ZMK)	ZMK 137,800,000
Portfolio (USD)	USD 26,628.02
Active Clients with Loans	125
Approximate % Female Clients	60% - 80%
Approximate % Urban Clients	80% - 100%

Methodology

Individual
Solidarity group	x
Village banking
Self help group	x
Other

Description

Type of loan is designed for the low income clients earning an average of K250,000 per month as income. The main advantage of this product is that it allows people to borrow with less minimum requirements.

Loan Purpose

Any purpose
Income generation	x
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)

Included Services

Credit education
Group meetings	x
Credit insurance
Workplace visits	x
Business training	x
Other training	x
Other
Other (2)
No other services

Eligibility

Men	x
Women	x
Must run a business	x
Must own a home or land
Must be a salaried worker
Must be specific age group
Other
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	ZMK
Minimum loan size	ZMK 300,000
Maximum loan size	2,000,000

Loan Term and Grace Period

Shortest loan term	3.0 months
Longest loan term	12.0 months
Approx average	6.0 months

Grace Period

Grace period usage	0
Average grace period	0

Repayment Frequency

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

Pricing Information

Interest

Lowest quoted nominal interest	5.00%
Highest quoted nominal interest	5.00%
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	Fee 2
Description	Processing Fee	Application Fee
% of loan amount - min	4.00%	0
% of loan amount - max	4.00%	0
OR, Fixed amount - min	0	20,000
Fixed amount - max	0	20,000
Reason for variation	N/A	N/A
Appears on Repayment Sched?	No	No

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

	Ins 1	Ins 2
Description	Funeral Expense Rider	Credit life
% of loan amount - min	0	1.16%
% of loan amount - max	0	1.66%
OR, Fixed amount - min	3,770	0
Fixed amount - max	8,970	0
Reason for variation	N/A	N/A
Appears on Repayment Sched?	Yes	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	25.00%
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	0
Maximum interest rate paid	0
Interest payment frequency	N/A

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Full Pricing Data

Solidarity Group Loan samples

	Sample 1	Sample 2	Sample 3
Loan Amount	ZMK 300,000	ZMK 500,000	ZMK 1,000,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known
Disbursement Date	2011-03-31	2011-06-16	2011-06-16
Loan Term (Months)	2.8 months	5.6 months	5.6 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	201.6%	150.3%	140.2%
Insurance Component	23.6%	18.3%	13.0%
Tax Component	0.0%	0.0%	0.0%
Deposit Component	162.4%	114.6%	101.9%
Full APR (int fee ins tax dep)	387.6%	283.2%	255.1%
Transparency Index	15	21	24

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

Solidarity Group Loan Price Graphs

Loan Size/

Loan Term/

Custom

Click to view Price Analysis Tool

Institution	# Borrowers	Portfolio (US$)	Products	Age of Data
Actuar Caldas	3,700	5,247,000	1	171
Actuar Quindio	2,300	2,800,000	2	171
Actuar Tolima	8,800	5,099,000	3	171
Amanecer	4,300	8,253,000	4	171
Banco Agrario	56,300	39,938,000	3	171
Banco WWB	219,400	294,019,000	5	166
Bancolombia	36,200	51,563,000	1	171
BdO	10,400	7,945,000	2	171
Comerciacoop	1,600	3,255,000	4	171
Confiar	43,800	81,993,000	7	171
Congente	5,400	20,045,000	2	171
Contactar	25,100	20,184,000	2	171
Crezcamos	27,500	22,564,000	4	171
Finamerica	39,800	99,536,000	7	171
FMM Popayán	310,000	243,614,000	3	171
FMSD	6,800	9,236,000	6	171
Fomentamos	900	102,000	1	171
Fund DeLaMujer	199,900	165,568,000	1	171
Fund Oleoductos	500	435,000	1	166
FUNDAUNIBAN	600	1,307,000	2	171
FUNDESAN	2,400	2,521,000	5	171
FUNDESMAG	1,000	1,698,000	2	171
Interactuar	30,200	93,846,000	4	171
MEDA	15,600	27,322,000	2	171
ProCredit CO	5,700	18,569,000	3	171

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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Total Borrrowers of Samples


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By Country

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