Pulse Financial Services Limited - Home Improvement Loan - MFTransparency.org Truth In Lending Tables

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Institution

Pulse Financial Services Limited Cnr Freedom Way/Katunjila RoadLusakaP.O. Box RW 51269

Data approved: 2012-01-25

Data version: 1

Age of data: 167 months

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Product

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Product Details

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)

# 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 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 fees

Upfront 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

Are taxes charged on this product?

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

Click to view Price Analysis Tool

Institution	# Borrowers	Portfolio (US$)	Products	Age of Data
Actuar Caldas	3,700	5,247,000	1	170
Actuar Quindio	2,300	2,800,000	2	170
Actuar Tolima	8,800	5,099,000	3	170
Amanecer	4,300	8,253,000	4	170
Banco Agrario	56,300	39,938,000	3	170
Banco WWB	219,400	294,019,000	5	165
Bancolombia	36,200	51,563,000	1	170
BdO	10,400	7,945,000	2	170
Comerciacoop	1,600	3,255,000	4	170
Confiar	43,800	81,993,000	7	170
Congente	5,400	20,045,000	2	170
Contactar	25,100	20,184,000	2	170
Crezcamos	27,500	22,564,000	4	170
Finamerica	39,800	99,536,000	7	170
FMM Popayán	310,000	243,614,000	3	170
FMSD	6,800	9,236,000	6	170
Fomentamos	900	102,000	1	170
Fund DeLaMujer	199,900	165,568,000	1	170
Fund Oleoductos	500	435,000	1	165
FUNDAUNIBAN	600	1,307,000	2	170
FUNDESAN	2,400	2,521,000	5	170
FUNDESMAG	1,000	1,698,000	2	170
Interactuar	30,200	93,846,000	4	170
MEDA	15,600	27,322,000	2	170
ProCredit CO	5,700	18,569,000	3	170

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

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